Advice from Real Estate Expert Malika McCalla

Welcome to RentRedi’s Investor Spotlight series, featuring real estate expert Malika McCalla! She’s here to drop some amazing investing tips!

Real Estate Investing Tips from Malika McCalla

Our Investor Spotlight features quickfire questions about the tools, advice, routines, and strategies beginners & professionals use to grow their businesses and gain passive income.

Let’s dive in!

What made you want to invest in real estate?

I’ve always had an interest in real estate, but it wasn’t until I purchased my first home that I decided to invest. Shortly after closing on my home, I began studying for my license to become a real estate agent. Although, I became an agent to represent myself on my own deals.

My own home ownership experience taught me a lot and I wanted to help whoever I can however I can along their homeownership journey. No matter what, our basic physiological need is shelter. So, the way I saw it — no matter if I chose a career in real estate or investing — it would always make sense because each and every buyer or seller, whether they realize it or not, is also an investor the moment they leave the closing table.

As a woman, how has investing in real estate changed/affected your life?

I experienced my family being evicted from our home. My mother struggled with alcoholism. We lived in homeless shelters, until eventually I ended up in the foster system. And it wasn’t until my aunt stepped into my story that I realized how powerful women truly are. She gifted me money towards closing on my first property in 2018 when I was 23 years old. Investing in real estate has given me both the confidence and financial security I need to make working optional.

Thanks to her generosity I have grown my small but mighty portfolio from one to four doors. I am on track to retire early and focus on what I was put on this earth to do. My life will forever be changed by the decision to invest in real estate.

What’s a landlord “hack” you use to make your life easier?

If it’s not important but it’s urgent, delegate it. If it’s not urgent but it’s important, plan it. If it’s not important and not urgent, drop it. This is how I have been able to scale my real estate business in addition to time-blocking and writing down my goals for the day, month, and year. The real hack is manifesting everything you want and believing that it’s already yours.

Why is it important for women in particular to get involved in real estate investing?

Women are long-term thinkers, and one thing about real estate that a lot of people may not realize is that it’s a get-rich-slow investment strategy. If more women applied their strategic thinking towards investing there is no limit to what we can accomplish.

What is the #1 piece of advice you would give a new real estate investor just starting out?

Just start! There is never going to be a perfect situation, market, or time to buy real estate. Whenever YOU are ready mentally and financially, that is the best time to invest. 

What advice would you give specifically to women about real estate investing?

Picture yourself traveling and being able to spend more time with your family because you invest and have replaced your 9-to-5 job with passive income from real estate. If this is something that you dream about, then my advice to you is to remember your why and to never lose sight of it.

RAPIDFIRE QUESTIONS:

  1. What’s your favorite app (real estate-related or not)? Instagram
  2. What’s the best piece of advice you’ve ever received (real estate-related or not)?
    If you do what you love, you’ll never work a day in your life.
  3. Do you invest out-of-state? No, my properties are within an hour’s commute from my primary residence in Georgia.
  4. Have you ever house hacked? Yes, I’m still currently house-hacking a duplex while my fiancé and I save for our wedding next year. This is one of the best ways to get started in real estate.
  5. How old were you when you purchased your first rental property? 23
  6. Hard money loan or conventional? Depends on the deal but I’ve used conventional on my properties.

About Malika McCalla

My name is Malika McCalla, I am a real estate agent, investor, and founder of Retiring off Real Estate. I invest in small multi-family properties with 4 doors located in metro Atlanta. My goal is to help as many people as I can to achieve financial freedom through real estate by offering free resources on my site at Malikamccalla.com.

Social links: @malikamccalla @retiringoffrealestate

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