Jennifer Barner is a self-made woman that is crushing real estate in Kansas City. Together with Brett Bumgarner, invested in the Rich Dad Elite Legacy Program, leading them to buy 9 properties in a year. During that time, they also invested passively in 580 doors. Passive investing and flipping helped rebuild the nest egg after the crash of 2008. In 2017, Jennifer and Brett started Lighthouse Ventures KC, focusing on flipping and rehabbing properties across the KC market.
Takeaways:
- 2016, Jennifer joined the Rich Dad program. And realized that there’s so much information out there, that she never was going to get a deal done. In the same year, Jennifer met Brett and became business partners
- If investing in a mentorship or training, make the most of the money and participate to the max extent.
- Passive investing Advice: make connections with everyone; figure out Who can I trust?
- GP team is the ultimate decisionmaker, not the deal
- 3 Factors when evaluating a deal:
- 1. Financials: Run the numbers
- 2. Property in path of progress?
- 3. What is the Upside?
Snapshot Round:
- What is the number one thing you need as a new investor to get started? Jennifer and Brett: Take Action
- What is one nugget of investing knowledge you want to give us outside of what you’ve already told us? Brett: There are ups and downs no matter how good you are. It doesn’t matter, you’re going to get a bad deal. Jennifer: I would say that the 1% rule actually can carry over to the multifamily space.
- What is your dream? Jennifer: I had a dream that I wanted to make $3,333 a month, which equates to a million dollars a year. Brett: I want to get to the point where I can build up a portfolio of properties that I can just have a comfortable living, I don’t have to worry.
Jennifer and Brett’s Contact:
- Instagram: https://instagram.com/flippingkate_kansascity
- Facebook: https://facebook.cm/jenniferbarner
Catch you next time on The Lessons in Real Estate Show!
