Creative Capital Podcast 80: Pushing Boundaries Through Real Estate Investing with Leka Devatha

Jul 16, 2021

Welcome back to the Creative Capital Podcast with Josh Ferrari! In this episode, we have Leka Devatha! Leka is a real estate developer and broker based in Seattle, WA. She is the President of Rehabit Homes, Inc., a company focused on residential redevelopment. She has spearheaded hundreds of transactions, developing over $50M in real estate. Leka brings 8 years of experience in construction management and redesign. Leka has been featured on numerous podcasts and other media including Business Insider and BiggerPockets. She is a chapter contributor in the recently published book 'The Only Woman in The Room'. In an effort to give back to the community, she hosts a popular virtual networking mixer, 'Real Estate At Work' featuring prominent speakers from the industry.

 

In this episode, Leka shares with us how she made a seven-figure profit on just one flip! She gets into the full details of the deal, from how she found the property to how she was able to create such a huge profit. She also shares her thoughts on passive income and networking. Join us and listen in!

[00:01 - 07:07] Introduction  

 

• Welcoming Leka to the show
• Leka shares her background
• • Moving from India to the US
  • How she started in real estate
  • Flipping single-family homes
  • Specializing on reconstruction

 

[07:08 - 18:32] From the Fashion Industry to Real Estate 

 

• Transitioning from the fashion industry to real estate
• • What made her want to shift to real estate investing
  • Wanting to be her own boss
  • Building a legacy
• Beginning her journey in real estate
• • Doing her research and getting educated
  • Discovering fix and flip
• What Leka’s day-to-day looks like
• • The advantage of a one-person show
  • Thriving in chaos
• Investing in a local property vs. an out-of-state property
• • Having a bad property manager
• The advice she would give herself when she entered the real estate business
• • Hold properties

 

[18:33 - 25:31] What It Takes to Be Successful in Real Estate Investing

 

• Leka shares her thoughts on passive income
• • Having doubts about passive income at first
  • The benefit of holding properties long term
  • Leka and I talk about the perpetuity model
• What it takes to be successful in real estate investing
• • Her love for people
  • Giving back
  • The importance of network
• Leka on how you can connect with people
• • Find common ground
  • Be authentic

 

[25:32 - 35:21] How Leka Made a Seven-figure Profit on Just One Flip

 

• Leka shares how she found the deal
• The effect of subdividing the property
• The improvements she made on the property
• The timeline of the flip
• Selling the property
• The profit she made

[35:22 - 39:06] The Pod Decks Segment  

 

• What is the weirdest thing you have seen in someone else's home?
• If you googled your name 10 years from now, what do you think it would say?

 

[39:07 - 46:39] The Core Four 

 

• What is your favorite real estate-related book?
• • The ABCs of Real Estate Investing (link below)
•  What do you think your unique skill is that helped you become successful?
• • Her ability to connect with people
• Tell me something that's true about real estate that almost nobody agrees with you on
• • Why knowing how many doors someone owns doesn’t mean anything
• What one piece of advice would you give the listeners wanting to succeed in real estate investing?
• • Take those chances
  • Network extensively
• Connect with Leka!
• A summary of the episode

Key Quotes: 

 

“Go find common ground. You can find common ground with anybody, so just go find common ground and put yourself out there and be authentic.” - Leka Devatha 

 

“Take those chances, but make them measured, and surround yourself with people that can help you get to whatever your next goal is. And network crazy, extensively.” - Leka Devatha

Resources Mentioned:

• The ABCs of Real Estate Investing

 

Connect with Leka on Instagram and LinkedIn!

 

Check out Leka’s website at https://www.rehabithomes.com/

You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube 

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

 

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