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Ready to start making money? Want to sleep soundly again? How about planning that dream vacation, shopping just for fun, or even mapping out your retirement?

Take back control of your time and goals with my FREE Flipping EBook and Short Sale EBook. Your path to success starts here!

Remote Real Estate Investing with Trailblazers Jen and Stacey Conkey

Welcome to today’s episode, where we delve into the world of remote investing with the dynamic duo, Jen and Stacey Conkey. As multifamily investors and educators, Jen and Stacey have carved out a niche in the real estate market, helping others navigate the complex world of property investment. Today, we’ll learn about their journey, strategies, and the unique approach they’ve developed to succeed in remote multifamily investing.

Investing in real estate can be a daunting endeavor, especially when considering the complexities of multifamily properties. Yet, Jen and Stacey Conkey, founders of the Warriors of Wealth, have turned these challenges into opportunities. They have carved out a niche in remote multifamily investing, sharing their knowledge and strategies with others through their Remote Multifamily Investing Academy. In a recent interview with Dwan Bent-Twyford on the “Dwan-der-ful” Real Estate Podcast, Jen and Stacey shared their journey, insights, and advice for aspiring investors.

 

Meet Jen and Stacey Conkey

Jen Conkey: “I’m Jen Conkey. I am a multifamily investor and a peak performance coach focusing on mindset and helping people smash through their limiting beliefs.”Stacey Conkey: “I am Stacey Conkey of the Jen and Stacey Conkey show. I am also a multifamily investor and an educator passionate about helping people have a smoother journey in real estate investment.

 

The Power of Partnership

After years of individual success, Jen and Stacey met and realized the potential of combining their expertise. They formed a partnership that allowed them to scale their investments and develop innovative strategies for remote multifamily investing.

It was a 12-year journey solo before I even met Stacey. I didn’t get into apartments until I met Stacey,” Jen recounted. Their collaboration led to the creation of the Remote Multifamily Investing Academy, a platform designed to teach others how to invest in multifamily properties from a distance.

 

Empowering Investors

One of the key elements of Jen and Stacey’s success is their commitment to empowering other investors, especially women. In an industry traditionally dominated by men, they have created a supportive community that encourages diversity and inclusion.

 

Attracting Female Investors

Their Remote Multifamily Investing Academy boasts a near-equal gender split, with 49% of their students being women. This inclusivity is a testament to their mission of making real estate investing accessible to everyone.

“It has been a male-dominated industry, but we have about 49% of our students are women,” Jen noted. By sharing their stories and strategies, Jen and Stacey inspire women to take charge of their financial futures through real estate investing.

 

Opportunities for Non-Accredited Investors

While Jen and Stacey primarily work with accredited investors, they also offer opportunities for non-accredited investors through their academy. This inclusive approach ensures that everyone has a chance to participate and benefit from their knowledge and expertise.

We personally work with accredited investors, but if you’re not accredited, you can still reach out and we still have opportunities for deals for you too,” Jen assured. This commitment to inclusivity sets them apart in the industry.

 

Embracing the Unexpected in Real Estate Investing

Real estate investment often begins as a deliberate strategy, but sometimes, the journey takes unexpected and exciting turns. A story that encapsulates this beautifully involves an investor who found themselves owning an entire town through a series of unplanned, yet thrilling, purchases.

For those inspired by such tales and considering diving into the world of real estate, the insights from seasoned investors can be invaluable.

As one investor highlighted, “If someone was listening today and they don’t know you guys and, by the way, I’m super happy that I got a chance to know you and talk to you. I’ve interviewed a few people that do multifamilies and syndications and not to like, I love men. They’re all guys. So it’s like it’s so refreshing to see women doing this, but like it’s, my heart already loves you too for that.

So if someone is listening and they’re like hey, you know I love these two, I’m interested in going to warriorsofwealthcom and I’m thinking about getting involved. Like what is an actionable tip? Like, what’s a tip someone could take from you today and think on it and figure out a way to like, put it into action. What’s an actionable tip?”

 

Actionable Tips for Aspiring Real Estate Investors

Stacy Conkey, an experienced investor, offers practical advice for those eager to enter the market, particularly emphasizing the concept of remote investing. “One of the things that we do and that we teach is about remote investing, which is kind of a bit of a mindset shift for a lot of people. But let’s just say, you know, sometimes you live in an area that just it doesn’t cash flow, like we lived in San Diego for many years before we moved to Florida and it’s just like there’s nothing that cash flows there. So you don’t really have any choice but to learn how to invest remotely or just not invest at all.

Conkey elaborates on the importance of identifying promising markets, advising investors to start by looking at areas with positive population growth and stable or increasing job opportunities. “As far as population growth, you can literally use Google and just say, population in whatever city, and it pulls up a graph and it shows you between 1990 and 2021. I don’t know why it’s not 2023 yet, but between 1990 and 2021, and it shows you what the population was on a graph, but also at different points in time, so you can see, like, what’s going on there.” This data-driven approach helps in narrowing down potential markets.

 

The Shift to Remote Investing

The transition to remote investing often requires a mindset shift. Many investors are initially hesitant, feeling the need to physically inspect every property. However, as Conkey points out, modern technology makes it feasible to manage properties from afar effectively.

“If we’re sitting right here and all of a sudden we’re like oh, there’s water dripping. Oh no, I got a leak in the roof. What am I going to do? I’m going to go walk out my front door and start screaming down the street. I need a roofer. I need a roofer because I’m local, so I must just go outside and do it because I’m there. But realistically, what am I going to do? I’m going to open my computer, I’m going to get on the internet and I’m going to look for roofers, and then I’m going to get on the phone and call them. And it’s literally an identical process when you’re investing anywhere.”

The key is building a reliable team of local professionals—real estate brokers, property managers, inspectors, and contractors—who can handle the on-ground operations, ensuring that the investments are managed efficiently without the investor needing to be physically present.

 

Embracing Adventure and Learning from Experiences

The duo also discussed the significance of letting children engage in adventurous activities, even if they involve a bit of danger. Dwan shared anecdotes of her grandchildren enjoying dirt biking and other activities that might seem risky. She believes that experiencing minor scrapes and bruises is a part of life and helps children learn resilience. Jen agreed, adding that doing dangerous things safely can be fun and educational.

 

Pursuing Goals with Resilience and Persistence

Jen’s ambition to raise $45 million for investments in multifamily housing and other real estate ventures highlighted the importance of resilience and persistence. Both Jen and Stacy emphasized that achieving such goals requires determination, hard work, and a steadfast belief in one’s objectives. They discussed the need to stay committed and keep pushing forward, even when faced with challenges.

 

Final Thoughts on Resilience and Persistence

As their conversation concluded, Jen and Stacy shared their perspectives on resilience and persistence. Jen described resilience as the unwavering belief that there is always a way forward, encouraging individuals never to give up. Stacy defined persistence as the continuous effort to overcome challenges without quitting, emphasizing its crucial role in achieving long-term success.

 

Advice for Aspiring Investors

For those interested in multifamily investing, Stacy advised starting with a smaller number of units, around five to ten, to build confidence and credibility. This approach allows investors to gain experience and establish themselves before scaling up. Stacy highlighted the importance of taking action and not delaying, as the best opportunities often require prompt decisions.

 

Conclusion

Jen Conkey and Dwan Bent-Twyford’s conversation offers valuable insights into living authentically, nurturing individuality, and pursuing goals with resilience. Their perspectives on music, personal growth, and professional aspirations provide lessons in embracing a fulfilling and true-to-self life.