Feature Friday – Andrea Swiderski

On Fridays, we are going to feature some of our favorite real estate investors.  It’s our pleasure to start this tradition with Andrea!

For our first Feature Friday, we interviewed our dear friend and colleague, Andrea Swiderski.  Andrea and her husband Scott are both real estate investors and parents to four wonderful children.  Andrea is a part of a women’s group of real estate investors named The Share Group.  She is an incredible woman who cares about helping others in her daily business.  Conducting this interview with her was a true pleasure.  It was apparent that she has an incredible passion for what she does, and wants to share it with everyone around her!

Q: How did you become a real estate investor?

A: It was a decision that my husband and I made for our family in hopes to be able to really retire and truly enjoy what we do for a living.

Q: What was your background before becoming a real estate investor?

A: I was a hairdresser, and I still do hair from home. But, more importantly I am the mom of four beautiful children.  I have three girls and one bouncing baby boy. My husband owned a trucking company and it is still running, but he is not a part of it anymore. He is starting a brokerage now with his partner from the original trucking company.

Q: How long have you been a real estate investor?

A. We decided to become real estate investors in March of 2008. We started to get educated in August of 2008, and continue to educate ourselves on a weekly, if not daily basis.

Q: Where did you start your education?

A: The only education that we’ve had is from Nouveau Riche.  We started with their home study program, and then went to their live college in July.  We’re one of those couples that started with Nouveau Riche education, and our first investment was through the connections we built through Nouveau Riche.

Q: How do you continually educate yourselves?

A: I actually do a lot of self-education through the Internet.  I will just pull up different things on short sales or new [real estate] laws that are being passed. I always try to find out what new [real estate] law entails.  I also use the Nouveau Riche community as a tool as well.  I call other people in the community and ask if they’ve been through the same thing that I am going through.  The community is a huge tool for me.

Q: What has becoming a full-time investor done for your life?

A: This is our first real year, so we are not rich yet.  But, we have replaced our old income. I would say more than anything it allows us time freedom. It’s not that we don’t have to work hard, because we do.  It requires time. What I mean by that is that investing allows us to run other companies or businesses simultaneously. This is the ideal way to be able to really do what you want. We have goals and have learned so much from our experience and education that regular everyday people don’t know. Only people who realize the value of investing get the advantages of what it is that we know today. We were willing to sacrifice for the long-term outcome of true financial freedom and success.

Q: What has real estate investing allowed you to do in your life that you weren’t able to do before?

A: I would say this really applies to the both of us differently.  Now, Scott can pick up the kids at school midday without a thought. He can be active without being 45 minutes from home every day. I think he really enjoys being a leader, and he has learned how to design houses from the studs in. That’s amazing! He has been in trucking all of his life. So the stuff that he has learned amazes me. For me personally, I feel like I am truly accomplishing so much. I am running my own company, mostly from home, networking with other investors, and creating income while helping others at the same time. This is just the beginning! I look forward to getting my first buy and hold, and much more.

Q: I know that you said you and your husband have more time to spend with your kids now.  Have they noticed a difference?

A: They definitely notice with Scott.  He used to be away from the house from morning until night.  They notice because he’s on their school board now.  He can bring a forgotten lunch to their school in the middle of the day.  He makes their lunches, drives them to school, and picks them up.  If the kids are sick, he can leave a project and that makes things easier for me.  They definitely notice the difference.  But, it’s been a year, so we’re already adjusted to the new way of life.  If we had to go back to the old way, it wouldn’t be good.

Q: Do you think you will encourage your children to be real estate investors when they grow up?

A: Yes, definitely.  I would imagine in the next few years we’ll have houses that may go in their names, or at least the funds will be dedicated to them.  They will be investors before they hit their teenage years! They will have things that most kids don’t have.  My daughter’s already an entrepreneur.  This summer, she wanted to sell things out of our garage to make money.  And she’s only six!  She’s always saying, “What can I do to make money for myself?”

Q: What strategy do you focus on in real estate investing?

A: My husband focuses on Rehabbing, I focus on Rehabbing and Short Sales.

Q: What do you wish you knew before you did your first deal?

A: I don’t think I would do anything different. My stars have truly fallen in the line that I believe that they were supposed to.

Q: Tell me about your latest deal.

A: Which one? There are several! I close on my first rehab with my all women’s team tomorrow. I’m excited about that.  My husband will have income and so will I. Two streams of income is better than one any day! We picked up this house for $36,500 and renegotiated it to $30K. We are looking to resell at $90-100K. The repairs will be $15K to $20K. We should make a $20K profit minimum for our new company called The Share Group.

Q: How many deals have you and Scott done total?

A: Scott and I have acquired 10 properties, and we have already sold 5 of them. We have one more under contract right now.  We just had one fall through which would have closed soon and we are actively looking with partners now for another deal. We acquired our first property in December of 2008. We received our first paycheck in April, and then have been consistently rehabbing and selling properties ever since.  It hasn’t even been a complete year since we’ve been paid for the first time! Currently, we have two houses on the market. If we close on one of these houses before April 15^th, we will have made 6-figures in our first year of investing! It has been a great first year for two people just starting out, and not knowing a thing about real estate before. My goal is to double this income next year by adding more strategies as we move along. That is why I am pursuing short sales diligently. I also realize the value of getting a home owner out of the Sheriff Sale, and what that can do to help their credit if caught in a timely manner.

Q: What is your average profit per deal?

A: Our average profit per deal would be $30K. We usually end up with half of the $30K, so what actually goes in our bank account would be around $15K. We have two houses on the market right now, and we have three homes that are in the process of the rehab.

Q: How close are your investment properties to where you live?

A: The furthest property is about 45 minutes away. This is with the ladies team. The houses that Scott and I own are five to fifteen minutes from home.  This is what allows us to have all types of freedom.

Q: You said that you have started a business with other women and are closing on your first deal tomorrow.  How does it feel to be closing on your first deal?

A: We’re very excited about that.  We’re excited about doing the destructing part tomorrow. We’ll have our hammers, and we’ll have crowbars, and other things I don’t even know the names of to start destructing.  We want to be a short sale team, but a [rehab] deal fell across our laps.  So, we decided to do it.  We’re still doing short sales as well.  With our Nouveau Riche education, we can pick up any strategy, not just one.  That’s what’s so great about it.  We don’t have to turn down many deals, because we know how to use every strategy.

Q: How did you meet the other women you are collaborating with?

A: Every one of them has been a part of Nouveau Riche in some way.  I love to connect with people, even though I’m at home a lot.  Going to events is a little harder now since my kids are getting older.  I still connect with people I met through networking events, and I stay in touch through Facebook.  We have 10 women right now that are on the board.  We will be growing that number after we get our contracts in place.  We will then be accepting applicants.  Then we can interview them.  We want to empower people to take a step forward.  We want to hold their hand and mentor them.  Everything is scary until you have someone to help you.  Everyone on the board is at a different experience level.

Q: Since you have such a large team, are you aiming to do a volume-based business model?

A: Volume is fine.  Short sales will start to come in volume.  Our focus right now is just to get people going.  It’s not about the money.  We want to get people moving in the right direction.  The money will come if you’re doing the right things.  We want to learn from everyone’s experience to do every type of real estate investing.  Scott does the majority of work with the rehabs, but this is my chance to learn.  I want to teach and empower other women to do the same.  We’re all in this together. We will be interviewing to coach others, but might let them be a part of the business too.  We are still working on the details, though.  We’ve only been together for 10 weeks, and we’re already closing on a property!  Whether it turns out to be an investment club or just a bunch of people getting together, that’s fine. The idea is to walk the walk, and really do it.  People are afraid.  And I’m afraid. But I have to take the next step.  And I want other people to feel the same way.  Everyone has different talents to give.  Everything starts small.  This is just the beginning.  We just got incorporated! That was an exciting day!

Q: What is your advice to budding investors about how to select a partner for their real estate business?

A: The main thing is to find someone that you feel you can trust.  It probably won’t be someone you’ve known for years and years.  But, you have to have common ground and ask other people about them.  You do not need references per se, but just knowing how they really act is key.  Have a common goal to what you’re working towards.  Make sure everyone in your business has different roles.  Figure out who will do what.  Have a division of labor, and define roles as you move along.

Q: What’s the most challenging thing that has ever happened in your investing career?

A: It is still a challenge for me to balance life, family, work, and fun.

Q: What is the most creative solution that you have come up with to make a deal go through?

A: This would be more Scott’s department.  I know that he has had to get funds as fast as 24 hours in advance to a closing. He’s even designed houses that have had to be completely gutted. I am at the beginning of my investing career. Of course I support Scott’s business and helped him get started as much as I could, and now he is off and running.

Q: What is your one piece of advice that you would recommend for someone who wants to get starting as a real estate investor?

A: Pay for education, and make sure it is truly an education that will pay for itself over and over and over again.

Q: Are there any books that you have read that were crucial to your success?

A: Reposition Yourself by T.D. Jakes.  It is a great book, and since we knew nothing about investing before, and so we had to reposition ourselves.  I would recommend this to any investor.

Q: Who has been an inspiration to you?

A: Justin has truly been an inspiration to me.  I met him early on.  He has been a big part of why we have been so successful.  I watched his presentations for 8 months, and I feel that if he didn’t believe in me, we wouldn’t have the success that we have today.  As far as inspiration for my women’s group, Sharon Wahlig was a true inspiration.

If you have any questions about The Share Group or Andrea and Scott’s business, email Andrea at andreaswiderski@yahoo.com.

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