Welcome to RentRedi’s series: Investor Spotlight! We’re highlighting experts & their real estate investing tips for beginners—from the experts.
Our Investor Spotlight features expert real estate investing tips & quickfire questions about the tools, advice, routines, and strategies professionals use to grow their businesses and gain passive income.
Investor Spotlight: Hannah McCoy
Check out investor Hannah McCoy’s quickfire investing tips for beginners below!
Let’s dive in!
What’s your favorite app (real estate related or not)?
My favorite app is Instagram! I love being able to connect with other investors while also sharing parts of my investing journey.
How many hours a night do you sleep?
I typically sleep 7-8 hours a night!
What’s the best piece of advice you’ve ever received (real estate related or not)?
The best advice I’ve received is when you have a goal in mind and write down measurable steps for how you’re going to get there. I’m a big ideas person, but follow-through is sometimes hard. So this has been a great way for me to stay focused.
Do you invest out-of-state?
I do not, all my properties are within an hour of me.
Have you ever house hacked?
Yes! My very first investment property was a house hack.
Do you have a go-to paint color for your rentals?
My current favorite is Sherwin Williams Agreeable Gray.
How long does it take you to analyze a property for investment?
Only a few minutes typically. I like to invest close to home so I know what the average rents in the area are.
How old were you when you purchased your first rental property?
I was 23.
Hard money loan or conventional?
So far I’ve only used conventional and seller financing.
What is the #1 piece of advice you would give a new real estate investor just starting out?
I would definitely say to try and house hack if possible. It set me up to be able to save all that money I was spending on housing, and use it to buy other rental properties.
What made you want to invest in real estate?
I started realizing I didn’t want to work a W2 forever, and it made me start to explore other ways to build wealth! I knew I wanted something with a little more freedom and the ability to work from anywhere.
What’s a landlord “hack” you use to make your life easier?
Using RentRedi’s automated rent payment has been so awesome. My tenants love it and it makes it so much easier for me to know exactly when rent was paid. It’s also helpful to have all of the payments viewable right there on the app.
Hi, I’m Hannah! I started investing with my partner in 2020, and since then we’ve acquired 10 doors! He is a police officer and I’m a travel nurse, and despite our hectic schedules, we’ve been able to expand our portfolio. It’s been a great learning experience and I’ve grown so much since starting. We live near Pittsburgh, PA with our three dogs and invest close to home.
Check me out on social! @fitinvestorgirl on Instagram and Facebook.