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Show Summary
In this conversation, Elena Beatty shares her journey in real estate, focusing on wholesaling and flipping properties. She discusses the challenges and learning curves she faced transitioning from a mechanical engineer to a full-time real estate investor. Elena emphasizes the importance of building systems for consistency, the value of community and mentorship, and the role of accountability in achieving success. She reflects on her marketing strategies, personal growth, and future goals in the real estate market.
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Investor Fuel Show Transcript:
ELENA BEATTY (00:00)
I don’t even know how to say it, but for me, think real estate or I don’t know if it’s real estate or what, but like leaving my job was like, I feel like it’s the best thing I ever did. Like, don’t think I ever go back. Even though last year, you know, I didn’t make as much money as I made from my job, but the amount that I’ve grown is insane. Like I have not.been like this the last seven years at my job, I’ve learned a shit ton of things about being an engineer. But me personally, as a person, I don’t think I had grown as much as I have grown the last year of like being self-employed and ⁓ just trying to build out this business.
Q EDMONDS (02:20)
Hello everyone. Welcome to the real estate pros podcast. I am your host Q Edmonds Excited to be here today have another fantastic guest. I am excited about what she’s building I’m excited about how she’s getting started Not too long in the game But long enough when she’s putting some things in place that she is gonna be a force to be reckoned with and so I am so excited to introduce you all to miss Elena Beatty miss Elena. How you doing today, ma’am?ELENA BEATTY (02:49)
Hey, I’m doing good. How are you? ⁓Q EDMONDS (02:52)
doingfantastic, going fantastic. Again, thank you so much for being here. Thank you for giving us your time today. Greatly appreciate it. And so listen, I want to dive right in. I want you to tell the people what your main focus is these days. I would love for you to give us a little bit of an origin story. We want to know how you got started. We love the heroes journey. So want to hear that. And then if you don’t mind telling us what markets you’re operating in. And so it’s Elena, have the floor, ma’am.
ELENA BEATTY (03:18)
Awesome. Hey, yeah. So right now, my main focus is wholesaling. And I also just completed my first flip. So I’m going to transition a little bit more into wholesaling and flipping both. ⁓ So let me tell you a little bit about my origin story. ⁓ I was before jumping full time into real estate, I was working as a mechanical engineer. So I was in that for like seven whole years.I was constantly trying to find something else to do. like, I was selling on Facebook marketplace and ⁓ me and my husband were flipping cars for a bit. And then I started selling on Amazon. I mean, doing all these things is not like we didn’t make money, but the goal was to try to make enough money that I could replace what I earned from my job. I mean, some people are able to do it with those other things, but the scale has to be so huge.
And what I learned is ⁓ when I first jumped into real estate, ⁓ one deal replaces at least a month of income or more than of what I was making at my job. So ⁓ I had ⁓ jumped, I had joined a real estate mentorship for wholesaling and that’s how I got into wholesaling. I closed my first deal.
And the company I was working for actually, they decided that they were shutting down that location. So when that happened, I had closed my first deal and gave me that confidence to say, you know what, this is it. I’m not going to go look for another job. I’m going to go all in on real estate. And I did it. So it’s been a year now. And I’ve learned so much. Like starting off, was driving for dollars to get my first deal. And then I started
I was like, I can’t do this forever. You need to find different ways to get deals. So then ⁓ I started getting lists and learning. But the whole last year was hustling. It was a lot of hustle for sure. ⁓ But yeah, so after that, ⁓ hustled for a bit. And now I’m just learning, OK, it’s time to build some real systems.
Q EDMONDS (05:34)
Yeah,yeah, yeah, yeah. I love it. Thank you. Thank you so much for sharing your story, the journey, where you are now. I love it. Seven years as a mechanical engineer and you’re sitting there like, yeah, I got to do something else. Like, can’t be life.
ELENA BEATTY (06:40)
YeahQ EDMONDS (06:41)
Sevenyears, but I’m real. But no, absolutely get it. And so I have a saying where I say destiny has no wasted moments. Right. Meaning no matter what we go through in life, there are different stops along the journey that make us who we are today. And so there was that you had to be the mechanical engineer because it kind of was the fertilizer to where you are now. And so I would love to know if you can pull up some words or some adjectives.
What has this journey taught you about yourself? Has it taught you consistency? Has it taught you discipline? Has it taught you sick-to-itiveness, right? Like what has this journey and along the destiny of moments, what have it taught you about you?
ELENA BEATTY (07:26)
Yeah, absolutely consistency is definitely one of those things, especially with wholesaling. If you’re not consistent, the deals stop coming in.Q EDMONDS (07:37)
Yeah, yeah, yeah.ELENA BEATTY (07:39)
So consistency is like super, super important. ⁓ Definitely the one word I think throughout this journey has been consistency. think discipline wise, I’ve been always pretty good. For me, it’s like, if this is what I’m doing, there is no like slacking. Like I set my work hours and it’s for work. It’s not like just because I’m no longer at a job doesn’t mean I don’t have to work. So I set my work hours and it’s for work. Right. Like I act like this is my job now.So I think that was really important because I do, I mean, not to like point other people out, but I do see some people like, know, once they leave their job, yes, now you have time freedom, but especially when you’re starting out, I think like it’s very necessary to keep that rhythm of like, I’m still going to work this hours to build up my business, right? Like, ⁓ so I think that that’s really important and ⁓ making sure you’re, you know, doing what you need to do to get the deals done.
Q EDMONDS (08:38)
Absolutely. No, I totally agree that that regiment that that though, you know, that’s one thing about the nine to five that it teach you. It teach you how to regiment your time. Right. And if you can learn how to regiment your time, but then learn how to have access to your time yourself, it changes everything. But you still need that discipline. And I love how you say consistency. There’s a saying that says consistency beats intensity any day. Right. So you can be consistent.You don’t always have to be intense you have to be intentional Sometimes you don’t have to be intense because the consistency put the systems in place. And so I love it again I love the way you’re thinking ⁓ Let me ask you this You know, no nothing is perfect. No deal is perfect. There’s time that you have to pivot things Don’t always go the way we expect right? So within your world how head and how have adversity showed his head in your journey? How has adversity showed his head and what have you done to?
actually counteract or to overcome adversity.
ELENA BEATTY (09:39)
Right, okay. So, you know, like I said, I was doing driving for dollars when I initially was getting deals. And I was doing driving for dollars and sending direct mail. So when I closed on a couple of deals, after I closed a couple of deals, I was like, okay, this is tiring. I can’t just be in my car driving every day. This is not what I quit my job for. I wasn’t planning to spend all my days every day in my car. I couldn’t just stay at my job if I was gonna do that.So I was like, okay, I’ve got to find a better way to find deals other than just me driving around or, you know, hiring somebody else to drive at this point. I’m like, let me, let me find a better way. So I, you know, I didn’t have any, any more coaching or whatever. The coach that I had hired, was, that was it. That was the extent of, of, you know, what I learned was driving for dollars, finding my first deal. And then ⁓ I was like, okay, I’m going to buy this list. So I bought, I bought a really expensive list. And, know, I was like,
Okay, I’m just going to do the same thing. I’m just going to mail this big ass list and now I have some money. So I’m just going to like send out a bunch of mail and it’s a learning curve, right? Like I had the money and I was like, I’m going to send a lot of mail because from my driving for dollars list, I was getting, you know, deals every like 2000 pieces of mail. So
If I send 2000 pieces of mail this week, I’ll get a deal and every week I’ll send 2000 pieces of mail and I’ll get a deal, you know, every, every week for four weeks. And then that money will roll into more marketing, but that’s not exactly what happened.
Q EDMONDS (11:49)
⁓ wow, uh-huh. ⁓ELENA BEATTY (11:53)
So I guess I kind of rolled the ball a little bit too quick. Instead of trying to spread out that marketing budget, I kind of just spent it all really fast. And I got a lot of leads coming in, but me being newer to wholesaling and stuff, my sales process wasn’t super nailed down. was winging it.Q EDMONDS (12:20)
Yeah.ELENA BEATTY (12:21)
My background is engineering not really sales. So my sales skills are not the best and a bit like for this poll I didn’t have this huge bias list. Yes. I was part of masterminds and I had buyers but These buyers were buying at very specific prices So if it’s just a little bit too a little bit over what they can pay then they can’t buy it because you know, they have to adhere byrules by the hard money lenders and whatnot so that they’re able to get the money ⁓ that they used to buy. But if I had buyers that were full cash or looking for different types of exit strategies, I may have been able to monetize some of those that I wasn’t able to close. So I had these leads coming in and then I didn’t close anything. So for a lot of months, like four or five months,
I closed other deals, not from that marketing mail that I sent. I was able to close some JV deals and whatnot with other wholesalers just because I built my brand. that’s just posting on social media and people seeing what you’re doing. That helps a lot. That brought me these JV opportunities and whatnot. But yeah, all the money I spent on marketing, nothing closed until I was like, okay, I’m going to send out.
you know, more mail because it works. Like I was getting leads in, but I wasn’t closing anything. So I sent more mail and then I finally, ⁓ in December of last year, I closed on what I flipped, my first flipped. instead of wholesaling that one, I decided, you know, I’d make a bigger spread if I actually flipped this one. So I closed on it and ⁓ it’s under contract now. It’s like my flip is complete. It’s under contract with the buyer and hope.
hopefully closing before the end of this month. So ⁓ definitely that was one big lesson was like, you know, instead of like going so fast, not knowing what you’re doing, kind of slow it down, spread out the budget ⁓ learning curve you learn and you move on.
Q EDMONDS (14:30)
Yes, come on. Listen, you are, you are a boss. I’m gonna tell you right now, not a boss in the making. You are a boss and I love where your head is. I love the way you’re going after things, even the way you’re learning from your mistakes or mid steps, right? Like these are, everything is an L. It’s not a loss. It’s just a lesson, right? It’s not a loss. It’s just a lesson. So I love it. I love it. Let me ask you this. What is your next real goal? Like, what do you look at the solve a scale next?ELENA BEATTY (15:39)
Yeah, sure. So this year, my goal is to do about four to five flips. So the first one will be closing. my goal is to get another four more in the contract. The other goal that I have for myself is to build out that system for my wholesaling. I don’t know if you want to call it wholesaling or like a lead flow, basically. When those deals come in, I’m going to decide if I want to keep them andand flip them myself or keep them as rentals or wholesale. Depending on what comes in. like building out that system, like a really good system that’s like constantly generating leads because last year was, you know, it was kind of all over the place. I was getting some deals here and there. I was doing what needs to be done, but kind of all over the place without like a proper system. So I keep building out that system, starting to…
once I think what I’m gonna do is this this is my goal for this year is to try to start like doing the task myself documenting it like making sure you know it’s being done right and then hiring out versus last year where I just randomly hired a cold caller plan I was just like here’s the list go start calling
Q EDMONDS (16:51)
Yeah.Yeah, absolutely. I love, I love, I love where Jaheed’s face is. And so I want to ask you this. We haven’t talked about it much, but I still want to your perspective on this. Relationships, relationship building in business, has it served you well? Do you put a premium on it? Like tell me your relationship building style. Tell me about building relationships. I guess we have mentioned it little bit. But yeah, I want to hear your perspective when it comes to relationships.
ELENA BEATTY (17:25)
Absolutely. think relationships are so, so, important. ⁓ As soon as I joined the first coaching program ⁓ and I closed on my first deal, I knew that I wanted to continue to have that mentorship coaching somebody behind my back. ⁓ And it’s even the accountability. I do think that fast-tracked my success a lot for the first deal for sure.And then, you I started looking for more mentorship or coaching opportunities and I ended up ⁓ joining a mastermind called My Tribe. It’s local. The people are local. So I’m building relationships with, you know, investors locally. And honestly, like all the deals that I have sold, I’ve sold to investors that are part of my group because we’ve built relationships. And these relationships also have helped me a lot because ⁓
When I have a deal come through, I have somebody that I can call that’s already an expert that’s done this so many times. I call them and I’m like, hey, I have these deals, where it is, what I think the ARV is, I can talk through it. ⁓ And they can tell me, hey, is this a good deal, not a good deal? What are some places I can go find funding? And then I’m showing the group, hey, this is what I’m planning to do. And they’re giving me feedback, don’t forget to do this and this and this. And ⁓ it’s…
I value the relationships a lot and I think it’s tremendously helped me and just being around the community and other people doing the thing. ⁓ I’ve learned so many like new strategies and just so much, so much good stuff from like having a good community around you. I don’t think I would have been able to
get to where I am and also have like the confidence to do some things that I do without like the community around me for sure.
Q EDMONDS (19:30)
I love it. Community is everything. I say community is, and I get this from somebody else, this is not an original thought, but community is common unity. When you find some people you can have common unity with, it changes everything. It literally fosters a healthy ecosystem where things grow. And like you said, we start sharing references, we start having accountability, and that improves your financial health.which can improve your physical health, which you can improve your mental health, like having the right community around you changes everything. And so I’m glad you identify that and see that. Let me ask you this, Ms. Elena, is there anything that I have not brought up that you want to talk about? Or in, is there anything, like any kind of other words of motivation, education, inspiration that you want to give our listeners? If there’s anything like that, I would love to hear it.
ELENA BEATTY (20:27)
Yeah, sure. think the main things that I think I already touched on a little bit, but consistency super, super important, especially when I was doing the driving for dollars and stuff like that. And I actually also started coaching a little bit. So I coached about two people ⁓ into their first deal. So super excited about that. they they collect more deals and we’re really excited. And I think accountability is underrated. LikeQ EDMONDS (20:55)
Come on and talk. Yes ma’am.ELENA BEATTY (21:00)
I really don’t think accountability is underrated because even for myself, if I didn’t have the coach behind my back, although he had already told me what to do, there’s a higher likelihood that I wouldn’t have closed this first deal because like when you have that like, okay, I have a call this week. I have to do what I said I was going to do. You do the thing that you said you were going to do. It’s like having a coach at the gym or whatever, you know, likeIf he’s gonna be, if you say you’re gonna be there at 5 a.m., he’s gonna, or he or she is gonna be there at 5 a.m., so you gotta be there. ⁓ I do think like, people, like, a lot of people think like, okay, I’m spending so much money, but like, I can get all this information for free, but they don’t realize that having like that person to like push you has so much value. And also like answer questions and stuff, you know?
But I think having that like person to push you has so much value. I don’t think accountability is huge and community, like you said, the community plays a huge role. The people around you that you’re surrounding yourself with, ⁓ like they said, right, you’re the average of the five people around you or whatever. I truly believe in that. ⁓ And then I think one last thing is like
Q EDMONDS (22:17)
Yep.ELENA BEATTY (22:25)
I don’t even know how to say it, but for me, think real estate or I don’t know if it’s real estate or what, but like leaving my job was like, I feel like it’s the best thing I ever did. Like, don’t think I ever go back. Even though last year, you know, I didn’t make as much money as I made from my job, but the amount that I’ve grown is insane. Like I have not.been like this the last seven years at my job, I’ve learned a shit ton of things about being an engineer. But me personally, as a person, I don’t think I had grown as much as I have grown the last year of like being self-employed and ⁓ just trying to build out this business.
Q EDMONDS (23:14)
I appreciate you so much. ⁓ One word that has grown me over the last seven to eight years in business, in my personal life, even in my health, finances, if I could put one word, it’s the word accountability. And so I hear you, like I got chills even right now because that word has transformed my life.And so I’m so glad you spoke on it. I’m so glad you spoke on it in an eloquent way because accountability will change your life. And I mean, and you and I were witness to it. I mean, I guess we can’t speak for other people, but in our experience, it’s really helped us and impacted us. And so I appreciate you saying that. Miss Elaina, listen, if someone wanted to reach out to you, connect to you, collaborate with you, learn more about what you’re doing, how can they get in contact with you?
ELENA BEATTY (24:09)
sure, find me on social media either on Instagram at E-L-E-N-A-R-A-J-A-N, Elena Rajan, or on Facebook you can find me Elena Rajan Beatty name.Q EDMONDS (24:25)
Awesome. I love it. So listen, I want to say three things to you first Thank you for your time because you left your job now. got more control of your time So now you know how you know time is our precious commodity, right? So thank you for your time Secondly, thank you for your story. Thank you for your gift. What I call is a gift I think you gave us a gift of your transparency even your vulnerability ⁓ just coming from an organic place, thank you so much becauseStories impact people on so many different levels. And so I thank you for sharing your story. And lastly, I won’t say most of all, but it’s very important. Thank you for your perspective, for your mindset, the way you think and bringing that mindset to this platform. I greatly appreciate you. Thank you for coming through.
ELENA BEATTY (25:12)
Awesome, thank you so much.Q EDMONDS (25:15)
Absolutely. Well, listen, y’all heard Miss Elena. You got the nuggets. You got the gems. You heard the journey. You heard accountability. So listen, check the show notes, get in contact with her, do some deals with her, build some relationships, right? But definitely make sure you are subscribed here, because I keep telling you, we’re going to bring up amazing people just like Miss Elena. So ma’am, thank you again. And everyone else, y’all have a fantastic day.
