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Show Summary
In this episode, host Quentin Edmonds interviews Steffany Boldrini, principal at Monte Carlo Real Estate Investments. Steffany shares her journey from tech sales in the Bay Area to becoming a real estate investor focused on self-storage and long-term property ownership. She discusses the advantages of leverage in real estate, lessons learned from early investing challenges, and the importance of building strong relationships and partnerships in the industry.
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Investor Fuel Show Transcript:
Steffany Boldrini (00:00)
Real estate investing is a phenomenal form of investing if you have extra cash, because it’s very difficult to lose your income or your down payment. Sorry. It’s very difficult to lose your down payment and ⁓ real estate goes up in price over time, everywhere, pretty much. ⁓ So you just got to be able to hold on to it andQuentin (00:20)
I see.Steffany Boldrini (00:23)
leverage, use leverage. So get a loan from the bank and you know, 50,000 or a hundred thousand dollars can buy 500K of real estate, but you know, a hundred thousand dollars can only buy a hundred thousand dollars worth of stock.Quentin (02:11)
Hello everyone. Welcome to the Real Estate Pros podcast. I am your host Q Edmonds and I am excited to be here. If you follow me, you know what I say, you know, this is something I love to do because I’ve always loved to connect with people and get into what they’re doing, how they’re doing things differently, or maybe even the same. One thing I know for sure, even if we’re all doing the same thing, we are unique people and we will always do something a little bit different.And so this is about our story, our journey. And I’m so glad we have someone here that’s going to tell you about her journey. And she’s in self storage. know, she loved having it as a value add and she loved to be able to increase income. And so I think all of us like the idea of increasing income. Right. And so I’m so excited for us to look through her lens, get to see how she does what she do. And so I want to introduce you all to Miss Steffany Boldrini Miss Steffany, how you doing today,
Steffany Boldrini (03:06)
I’m great, Q. Thank you so much for having me over. I appreciate it.Quentin (03:10)
Absolutely. Thank you for taking time to be here. You could have been anywhere in the world, but you’re here with us. And so I appreciate that. Ms. Steffany, I want to dive right in. I would love for you to tell the people, what’s your main focus these days? ⁓ Kind of give us a little bit of an origin story. Why real estate? Why self-storage? How did you get into it? And then also, you don’t mind, tell them what part of the world you’re in geographically. so what you’re doing, origin story, and a little bit about where you are in world.Ms. Steffany, you have the floor, ma’am.
Steffany Boldrini (03:41)
Thank you so much. I’m Steffany Boldrini, principal at Monte Carlo Real Estate Investments. I am based in Southern California, about an hour south of LA, and been doing real estate investing for almost eight years already. I used to be in tech sales in the Bay Area, and I knew somebody at the time that was a real estate investor.Quentin (03:43)
Yes, ma’am.Steffany Boldrini (04:07)
And it became very clear thatreal estate investing is a phenomenal form of investing if you have extra cash, because it’s very difficult to lose your income or your down payment. Sorry. It’s very difficult to lose your down payment and ⁓ real estate goes up in price over time, everywhere, pretty much. ⁓ So you just got to be able to hold on to it and
Quentin (04:31)
I see.Steffany Boldrini (04:34)
leverage, use leverage. So get a loan from the bank and you know, 50,000 or a hundred thousand dollars can buy 500K of real estate, but you know, a hundred thousand dollars can only buy a hundred thousand dollars worth of stock.So if both go up 10%, you just made 50,000 on your real estate and you just made five, uh, yeah, you just made $10,000 on your stock. So.
It’s a phenomenal thing that we can leverage and get a loan to buy real estate.
Quentin (05:56)
Absolutely. I love it. You know, to be in tech sales, was trying to figure out, you know, kind of what kind of space to get in. Like real estate business. Hard to lose that down payment. know, things kind of click. It’s like, hey, you know, stock, you can only do this much, but real estate, can kind of see it go boom. And so I absolutely love it. I have a saying, Miss Steffany, where I say destiny has no wasted moments. Right. Meaning no matter what you go through in life, destiny has a way.Steffany Boldrini (06:15)
Yeah.Hmm.
Quentin (06:26)
of just kind of making you who you are now. And you borrow from different parts of your life to kind of fortify the person that you are today. So I would love to know within this real estate journey, what has destiny, what has these moments taught you about yourself? Has it taught you discipline? Has it taught you resilience? Has it taught you humility? Like what has this moment, these moments taught you about you?Steffany Boldrini (06:49)
that’s such a beautiful thing that you said because sometimes we wonder have I made the right choice, right? Leaving ⁓ an amazing career in tech. But yes, it definitely taught me courage to sign on deals, you know, on my own. My very first deal, I was just in a new city. First time I saw the property and I was closing on the property that week and…⁓ It teaches you how to deal with a lot of challenges. You’re fully responsible for everything. ⁓ But, you know, everything is doable. ⁓ It’s not like you’re the first person that is experiencing something. One of the things that I learned in my first year was to always get two lender approvals because I was only dealing with one lender.
and that lender decided to do a bait and switch on me at the last minute. And they said, you know, we want these terms now. And that was a week before closing. And I had no choice but to comply because I didn’t have a backup plan. So that’s a thing that I learned. Another thing that I learned on that deal, I mean, I had to learn so many things, but ⁓ was, of course, always have insurance on your property.
nine days after we closed one of the roofs caved for one of the properties that were in that portfolio. And so if we didn’t have insurance, we would have been out, you know, tens of thousands of dollars. So yes, ⁓ it teaches you to be strong and deal with what comes to you because you’re ultimately responsible. When you have a job, other people are responsible for, you know, for everything. But
as a, as a business owner, it’s on you.
Quentin (08:44)
Yeah, absolutely. Definitely. Thank you for saying it. I mean, you said some key, powerful words. You talked about carriage and you talked about strength. And I love how you talked about, you know, some of the things that happen with the roof coming in, you know, making sure you get insurance. Once you can overcome these obstacles, it builds up your carriage and it builds up your strength. You know, it builds up your confidence to be like, okay, if I was able to navigate and maneuver in this,I can maneuver when the next thing comes about. And so I love it because, you know, I tell people all the time, this, the journey is all about the journey. We can show people the success, but it’s so much impactful when you can show people the journey, right? Because everybody’s going to go through something. And when people can understand that they can be like, okay, all I gotta do, put one foot in front of the other. And then I can look back in my carriage and my strength is ultimately built. Like these trials come to make us strong. You know what I mean?
Steffany Boldrini (09:17)
Exactly.Yes.
Absolutely,
you are so right. And it makes you appreciate the quiet times or the great things that you have in your life.
Quentin (09:44)
Yeah.Hmm, so good,
so well said. My wife, and I don’t know where my wife got it from, but she said this to me and it made so much sense. She said, a calm sea never makes an experienced sailor.
A calm, right? She said that, I was like, man, and so, you know, those, waves, know, riding the waves, going up and down the storms, it builds your experience.
Steffany Boldrini (10:41)
⁓ that is a good one, Q. That’s a great one.Quentin (10:57)
How can you pull out experience if you’ve never experienced anything? You know what I mean? yeah, experience is an amazing teacher. I love it. I love the fact that you’ve overcome some adversity. I love the fact that you’re dropping nuggets about insurance. You’re the first person I heard always get two lenders. I think that’s a great, I mean, when you said it makes sense, but I’ve never really heard somebody kind of verbalize it. So thank you for that.Steffany Boldrini (11:02)
Exactly. Exactly.Quentin (11:25)
Let me ask you, what is your next real goal? Like, what are you looking to solve a scale next?Steffany Boldrini (11:31)
Yes. My next goal is I would love to keep buying and I’m a buy and hold ⁓ person. believe in that true wealth is created by holding real estate forever. And so my goals are to buy four, let’s say four properties a year and hold two and flip two so I can buy the ones for next year. So that is what I’m focusing on this year.Quentin (11:39)
Okay. Yeah.Got you.
watching.
Absolutely. So I want to talk to you a little bit about relationship because I know from us talking, I believe you have relationship with different people in real estate. And so I want to know what is your philosophy when it comes to building relationships within business, within real estate? Is it important to you? Has it served you well? Like your strategy around building relationships? Like tell me a little bit about relationship building from your perspective.
from your perspective.
Steffany Boldrini (12:31)
Yes, I’m actually very good at that. That’s one of my strengths. I hate underwriting and spreadsheets, but I love building relationships. I think they’re very important to build over time. It’s not a one-day thing, one-time thing. You need to follow up and actually build that person’s relationship so you can call them or they can call you when you need advice.Quentin (12:36)
Hmm.Steffany Boldrini (12:59)
So the way that I do it is everywhere that I go, every conference or events that I attend, I get their actual cards and I write what they do on the card. And then when I get home, I put it on a spreadsheet and I write where do they live and what do they specialize on. So let’s say I was in Miami a few years ago and I reached out to this amazing lady that is in retail and she said, I’m having a conference next week. Come.And so I showed up to her conference just because I reached out because I had her on my Miami spreadsheet. ⁓ And then the following year, she ended up inviting me to speak at her conference. ⁓ So it’s important to check in, say hello, even if it’s once a year. So you’re top of mind. If they’re in your city, grab a cup of coffee, invite them for lunch, dinner. If you’re the one wanting to build a relationship, if they’re ⁓ higher up than you, you should.
100 % always invite them for lunch or dinner if it’s appropriate. yeah, building over time. And you don’t have to know a thousand people either. It can be a handful or 10 people that you have really good relationships with.
Quentin (14:15)
Yeah. And so you’re the first person again, when you say it, makes sense, but you’re the first person that really talked out what you do with those business cards once you get them. Cause I love how you said, know, we get business cards. I literally get business cards, right? And some people don’t have a strategy or a system. think that’s a better word, a system in place on what they do with the cards that they receive. You said you get these cards, you instantly put them in a spreadsheet. I mean, that’sSteffany Boldrini (14:32)
Yeah.Quentin (14:44)
When you hear it, it makes sense, but I don’t know if too many of us actually thought about that or actually doing that. So that’s brilliant. Thank you for sharing that. you know, systems, systems make everything so much better. Like when you find a system that works for you and you run that system, it makes life so much easier. Doesn’t it, Steffany?Steffany Boldrini (15:48)
Mm-hmm.Very easy. It takes a minute to get it done at first, but once it’s done, you’re going to save time. So yes.
Quentin (15:57)
There yougo. If you plug the system of information, the system will be what it’s supposed to do. But like you said, it takes the intentionality of it’s doing the work. And so I love that. Ms. Steffany, let me ask you, is there anything, any topic that I have not brought up that you would like to bring up, you would like to talk about? Or is there any other words of education, inspiration, motivation?
that you would love to leave. I just kind of just want to open it up to you. Like if it’s anything you feel like on your mind, like I think people would need to hear this. I would love to open it up if there’s something you want to say.
Steffany Boldrini (16:36)
⁓ Sure, I think as far as partnerships, I think they are important to grow and expand and get there faster. But you have to be very careful who you partner with. First, it should be a person that fulfills your weaknesses. So if I’m a great networker, I need somebody who’s a great underwriter. We should not be the same. We should not both be great networkers becauseSomebody needs to be responsible for the very minute details of all of the numbers. Also, you can be a friendship, but you need to be very clear. You need to go through all the hard questions first and always have a contract, an agreement, because there could be another third person that comes into that person’s life that will change the way that they act. ⁓
Always have everything in writing and talk about the hard questions because there will be hard times no matter what you do with somebody else. ⁓ But talk about them before they happen so you know how much do they want to work? Do they want to retire? Do they want to buy and hold real estate? Do you guys have similar goals? What if something happens, right? All of the hard things have to be talked about.
Quentin (18:01)
Such good advice. We can’t shy away from the hard conversations, especially in business. ⁓ so I mentioned my wife before, so me and my wife, this is actually a saying I said to her that she has adopted, but I got it from Brene Brown. not sure, have you ever heard of Brene Brown? Love Brene Brown. So Brene has a saying where she said, is kind, unclear is unkind.Steffany Boldrini (18:07)
Yes.Yeah.
Yeah, absolutely.
Quentin (18:29)
So if we’re gonna be friends, if we’re gonna be in relationship, whether it be business or whatever, it’s a point of relating to one another. I have to be kind. The kindest thing I can be to you to be crystal clear is to talk about the hard things, to ask the hard questions. That’s the kindest thing that I can do is to be crystal clear to you. And so I love that. I love how you talk about just asking the hard questions, talking about the hard things.And listen, if you can build a foundation talking about the hard things, you can go anywhere. Y’all can talk about anything. Anything come up, even if we decide, right now, maybe we need to do something different. We can have that and not do enemies. We can have it not go at each other’s throat and then preserve a, a, a, type of relationship where maybe later on we can come back and still do business with each other. So I love that. Yeah. Yeah.
Steffany Boldrini (19:08)
Yeah.Yeah. Yeah.
Exactly, exactly. Clear communication
at all times.
Quentin (19:25)
At all times, I am 100 % with you. love it. And I love, and so this is last thing I say, cause I love how you go in, you go in person, get business cards and communicate with people because communication has a 55 38 7 rule. All right. 55 38 7, 55 % of communication is actually our body language. way ISteffany Boldrini (19:41)
Hmm. Okay.Quentin (19:49)
You know, if I’m sitting up here talking to you the whole time, talking to you, just like, you know, I’m giving you some type of communication. Like, maybe it’s not really interested in what I’m saying. So, 55 % is our body language. 38 % is our tone. It’s actually the tone in what we say. And only 7 % is actually the words that come out by our mouth. And so like, right, ain’t that amazing? And so that’s why people say, yes, only 7%. 55, 38, 7.Steffany Boldrini (19:56)
Exactly.Yeah.
Mm.
I didn’t know that was the 7 % that’s nothing
Quentin (20:19)
And so that’s why it’s a saying where it said people may not remember what you said, but they remember how you made them feel. so that 55 % and that 38 % is all in how it makes people feel. And I said that to say, to highlight again, how you literally go in person and meet people, you literally get physical business cards, really interacting with them. And so when you come home and put it in your spreadsheet, you’ve already communicated with them.Steffany Boldrini (20:25)
That’s true.Quentin (20:46)
in some type of way. And that’s why I’m sure when you called them, they probably remember who you was because that 55 and 38 % was communicating with them. And now you’re coming back with that 7 % be like, Hey, let’s talk. And so I, it’s no doubt in my mind. I just wanted to let you know, I can see why what you’re doing is working. see it. So, um, man, absolutely. So Ms. Steffany, listen, I appreciate you so much. If someone wanted to reach out to you.Steffany Boldrini (20:54)
Exactly.You got it. You nailed it.
Quentin (21:15)
connect with you, collaborate with you, learn more about what you’re doing. How can they get in contact with you,Steffany Boldrini (21:21)
Thank you. ⁓ Our website is montecarlorei.com. My email is [email protected], S-T-E-F-F. And I do have a commercial ⁓ podcast called Commercial Real Estate from A to Z. So we just talk about everything except apartment complexes in that as well.Quentin (21:46)
I love it. love it. Well, Ms. Steffany let me say three things to you, ma’am. First, thank you for your time. You could have been anywhere in the world. Like, you know, you can put a premium on your time. So thank you so much for your time. I appreciate that. Thank you for your story. Thank you for the gift. I like to call it a gift of your transparency, the gift of your vulnerability. Stories have a way of planting seeds in people.Steffany Boldrini (21:53)
Thank you.Quentin (22:12)
And we never know when it’s going to grow, but the seed is already there. And we plan to just tell an old story, tell an old narrative. so thank you so much for coming on, sharing your story. And lastly, thank you for your perspective. Thank you for your mindset and bringing that perspective to this platform. I greatly appreciate you, Ms. Steffany. Thank you for coming through today.Steffany Boldrini (22:15)
Mmm.Thank you so much for having me over here. I really appreciate your time.
Quentin (22:36)
Absolutely. So listen, y’all heard Ms. Steffany, you got the value. Check the show notes, go watch the podcast, get in contact with her, but definitely make sure you are subscribed here because I promise you, we’re going to continue to bring up amazing people just like Ms. Steffany. So ma’am, thank you again. And everyone else, listen, y’all have a fantastic day.
