REI112: REAL ESTATE INVESTING IN AN EXPENSIVE MARKET

W/ KARINA MEJIA

7 March 2022

In this week’s episode, Robert Leonard (@therobertleonard) talks with Karina Mejia about how to buy real estate in an expensive market, what house hacking is and how to get started with it, and how to transition from a corporate career into a full-time real estate career.

Born and raised in Boston, Karina has witnessed the tremendous change and growth that has transformed Boston’s real estate market. She earned her bachelors in Economics and International Studies at Boston College. After graduating, she joined a real estate consulting firm where she provided comprehensive support with commercial real estate investments and transactions in connection with acquisitions, dispositions, and financing. She bought her first triplex at 22 years old using an FHA loan and quickly realized climbing the corporate ladder wasn’t for her. She found success as a real estate agent helping both first time home buyers and investors alike. She leveraged the uncapped income potential in sales to house-hack a second triplex in the Greater Boston Area and begin building an out-of-state rental portfolio consisting of 6 doors in Augusta, GA. With a total of 12 doors at 24 years old, her goal is to scale up through long-distance multi-family investing.

SUBSCRIBE

IN THIS EPISODE, YOU’LL LEARN:

  • How to become a full-time real estate professional.
  • What the day-to-day looks like for a real estate agent.
  • How to determine which brokerage to work with as an agent.
  • What house hacking is and how to do it, even in an expensive market.
  • Why long-distance investing makes sense.
  • How to invest long-distance and out-of-state.
  • And much, much more!

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

Karina Mejia (00:02):

I think I’d let the location drive it. I think I’ve always wanted multifamilies just to begin with. That was my first house hack. In general, that’s what I’ve always wanted. Right? If I can have more tenants under the same roof, I would much rather that than have them all over the place, but then I directly contradicted that when I bought my first property in Augusta Georgia.

Robert Leonard (00:22):

In this week’s episode, I talk with Karina Mejia about how to buy real estate in an expensive market, what house hacking is and how to get started with it, and how to transition from a corporate career into a full-time real estate career. Born and raised in Boston, Karina has witnessed the tremendous change in growth that has transformed Boston’s real estate market. She earned her bachelor’s in economics and international studies at Boston College. After graduating, she joined a real estate consulting firm where she provided comprehensive support with commercial real estate investments and transactions and connection with acquisitions, dispositions, and financing. She bought her first triplex at 22 years old using an FHA loan and quickly realized climbing the corporate ladder wasn’t for her.

Robert Leonard (01:06):

She found success as a real estate agent, helping both first-time home buyers and investors alike. She leveraged the uncapped income potential in sales to house hack a second triplex in the greater Boston area and began building an out-of-state rental portfolio consisting of six doors in Augusta, Georgia. With a total of 12 doors at 24 years old, her goal is to scale up through long distance multifamily investing. And now without further delay, I hope you guys enjoy this week’s episode with Karina Mejia.

Intro (01:38):

You’re listening to Real Estate Investing by The Investor’s Podcast Network, where your host, Robert Leonard, interviews successful investors from various real estate investing niches to help educate you on your real estate investing journey.

Robert Leonard (02:00):

Hey, everyone. Welcome back to the Real Estate 101 podcast. As always, I’m your host, Robert Leonard, and with me today, I have Karina Mejia. Karina, welcome to the show.

Karina Mejia (02:09):

Thank you. Glad to be on.

Robert Leonard (02:12):

After you graduated college and you were looking for a job, did you know that you specifically wanted to work at a company doing something with real estate, or did you kind of just fall into the real estate consulting firm that you worked at after college?

Karina Mejia (02:25):

So, I definitely already knew that I liked real estate. I think in terms of what was my job going to be after college, it was a matter of looking at what was available and what I could qualify for and what paid well. Definitely, those were the criterias that I was looking for. Something business related was what had the highest salary out of college. This was an avenue that I could also explore one of my interests which was real estate. So, yes.

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