Wealth & Family Through Property Investing – Tabatha Thorell

The Birth of “What Went Wrong” Podcast 🎙️

Tabatha’s podcast, “What Went Wrong,” launched in January after a month of preparation. The podcast focuses on real, raw stories of people who faced significant challenges and emerged stronger. It’s all about those moments when everything seems to fall apart and how individuals navigate through the darkness to find light again. Tabatha believes that sharing these stories is crucial because they ignite our souls and offer hope during tough times.

Key Highlights:

  • Raw and Real Stories: Guests share deeply personal experiences, often leading to emotional moments on the show.
  • Short and Sweet Episodes: Each episode is 20 to 30 minutes long, making it easy to listen to on the go.
  • Diverse Struggles: From addictions and strokes to ethical dilemmas and business failures, the podcast covers a wide range of challenges.
  • Hope and Resilience: The stories provide hope and show that it’s possible to overcome even the toughest situations.

Tabatha’s Coaching Journey 🌱

Tabatha and her husband have been in the real estate business for about 20 years. They’ve invested in properties since their college days and have now combined their expertise to help other families build wealth through real estate. Their initiative, the Legacy Wealth Project, aims to teach families how to invest in single-family homes and create an extra source of revenue.

The Legacy Wealth Project:

  • First Income Property: Helping families buy their first single-family home.
  • Wealth Building: Guiding them on how to purchase additional properties to build wealth.
  • Family Involvement: Encouraging families to involve their children in the process to teach them about money and investments.

Overcoming the Fear of Real Estate Investing 🏠

Many people hesitate to invest in real estate due to fears of financial risks and potential property issues. Tabatha emphasizes the importance of having the right mentor and knowledge to mitigate these fears. Here are some of her top tips:

  • Choose the Right Location: Look for properties near colleges, hospitals, and high-rental areas.
  • Start Close to Home: Buy your first property within an hour’s drive to easily manage it.
  • Inspect Thoroughly: Ensure the foundation, roof, plumbing, and electrical systems are in good condition.
  • Build Relationships: Maintain good communication with tenants to foster trust and ensure timely rent payments.

Managing Financial Risks 📉

Tabatha advises against overextending financially and highlights the importance of having a cushion for unexpected expenses. She also stresses the significance of buying in areas with high demand for rentals, such as college towns and near hospitals. By choosing the right locations and maintaining good tenant relationships, you can minimize financial risks and ensure a steady income stream.

Tabatha’s Favorite Tenants 👩‍🎓🏥

College students and hospital staff are among Tabatha’s favorite types of tenants. College students often have financial support from their parents, and there is always a demand for housing near educational institutions. Hospital staff, including traveling nurses and doctors, also provide a stable tenant base.

Connect with Tabatha Thorell 🌐

If you’re interested in learning more about real estate investing or need guidance on building wealth, Tabatha Thorell is here to help. Connect with her through her various platforms:

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