048: Using Lease Options to Grow Your Portfolio with Whitney Nicely

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Whitney Nicely is an entrepreneur who went from selling dump trucks to becoming the queen of real estate investing in east Tennessee. Whitney started to chase her passions and fine tune her skills in the real estate market after college. She flipped her first house in 2009. Last year, she flipped six houses while planning her October wedding. Whitney’s real estate portfolio has grown from zero, ziltch, nada to 17 residential houses, 19 apartment units and 7 chunks of vacant land across east Tennessee. Whitney is married and is the step mom to two kids ages 10 and 12. She is passionate about teaching people how to build a side business that helps them plan for retirement and doesn’t break them in the process.

Key Points

  1. Buying raw land at auctions
  2. Buying and selling houses using lease options, which are just fancy lease agreements with the option to buy the property at the end of the lease
  3. Reinvesting lease option fees to grow your portfolio
  4. Doing 57 deals in 3 years
  5. Making 3 different options to sellers on every deal
  6. Interest only loan terms

Lightning Round

  1. What was your biggest hurdle getting started investing in real estate and how did you overcome it? Whitney faced a lot of hurdles being in a predominately male industry (as a real estate investor). Whitney was able to overcome it by crafting her story, and being a true professional.
  2. Do you have a personal habit that contributes to your success? Whitney time blocks and sticks to her calendar in her phone.
  3. Do you have a favorite online resource? www.ifttt.com
  4. What book would you recommend to the listeners and why?
    • Miracle in the Mountains by Harnett Thomas Kane
  5. If you were to give advice to your 20 year old self, what would it be? Buy more land faster!


About Whitney

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