EP 202: How to Build an RE Portfolio that Works for YOU with Param Baladandapani
Sep 24, 2021Striving for financial freedom and a balanced life is a unifying theme for The Real Estate InvestHER community. This also applies to Parameshwari Baladandapani (Param Bala) and her journey. The physician, mom, real estate investor and coach grew up in India with parents who managed properties and had big dreams for Param’s professional life. While pursuing a career in radiology, Param never much considered investing or creating passive income. This all changed when she found a mentor and purchased her first property in 2014.
While the cash flow from that first investment wasn’t enough for Param to quit her job as a physician, she experienced an inflection point that made her recalibrate her work-life balance. The influential book, Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter, became a guide for her to reconfigure her financial approach and make her investments work for her. After reviewing her portfolio and finances, she decided to scale back her medical career and allow her passive income to open up time for her family and for herself. Fast forward seven years, Param is now on a mission to help others stop trading their time for money through her blog, social media communities and her course, “Creating Generational Freedom through Real Estate Investing.”
Tune into this week’s episode of the Real Estate InvestHER Show to learn more about how Param built her portfolio, pushed past limiting beliefs, developed a strategy to weather fluctuations in the market, and maintains intention even during her down time, so she can relish her work-life balance all the more.
Quotes
• “Real estate is not a one-size-fits all.” (14:41-14:43)
• “But real estate is the very goal that got me to where I am. And for me, that was mind blowing and I had to start talking to friends about it. I was trying to talk to everybody I could meet and I felt like I wasn't having enough of an impact, so I started social media groups where I started getting professional women together and talking to them about the magic of real estate investing and the community just proved the point where now we have a community and and I mentor a lot of professionals so that they can use the same principles to get to financial freedom.” (20:38-21:09)
• “If you have a great system in place—if you have a great team in a great market and you know what you’re doing, it’s super simple to continue to build on that without developing another system. And if I were to do anything at this time, with my kids being so young, I would probably just keep it super passive and just build on the systems that I already have in place. ” (46:28-47:10)
• “I was more afraid of leaving than I needed to be.” (50:36-50:38)
Connect with Param Baladandapani:
https://www.generationalwealthmd.com/
Facebook Group: https://www.facebook.com/groups/generationalwealthmd
Part of Param’s insights cover opportunities with short term rentals. Short term rentals are a very popular option in real estate and The Short Term Shop is an additional resource to explore. The Short Term Shop trains each and every one of our clients on how to manage their short term rentals remotely from anywhere, without having to employ a property manager (in short term rentals, the average management split is 25-40% of the GROSS INCOME, which is a ton). Go to https://www.theshorttermshop.com to learn more.
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