Paying off Debt with Live-in Flips with Jennifer McMurray

Female investors are sometimes nervous to tackle their first project alone, but today’s guest shares that there’s no reason to be scared. On today’s episode, we talk with Jennifer McMurray, a single gal calling the shots one flip after another. We discuss her successful live-in flip strategy and the important tax exemption that keeps more money in your pocket, how she paid off $70k in student loan debt by investing in real estate, and all the details about her current Airbnb project. Jennifer also shares how to work with contractors and provides great tips for negotiating down renovation quotes to meet your budget. Jenn McMurray is a Real Estate Broker in Northwest Arkansas by day. When she’s not busy doing the job she loves, she’s personally tackling the real estate investing world one dated, ugly home at a time. From busting tile to picking out paint swatches, Jenn tackles [almost] every project herself. As a Bachelorette, she has successfully bought, flipped, and sold multiple projects including 7 flips and 2 Airbnbs. Two years ago, Jenn also purchased her first long-term hold property: a mid-century home, Flip 5, in the downtown historic district that she is currently restoring while living in it. Jenn started this crazy house-flipping life with one goal of paying off her student loans. In 2017, she reached that milestone and paid off the last of her $70,000 student loan debt thanks to house flipping! In addition to house flipping and being a Realtor, Jenn is a regular contributing writer for Homes.com. She has been featured on HGTV online, Huffington Post online, Country Woman Magazine, Citiscapes Magazine, and Hometalk.   On today’s episode, we discuss a ton with Jennifer, including: The power of live-in flips and the great tax advantages that come with it How to gain renovation experience when you have no idea what you’re doing Negotiation tactics to keep you in budget How to effectively communicate with contractors and subs The importance of paying off debt early in your investing career Books/Resources The Last Lecture by Randy Pausch   Contact Information BachelorettePadFlip.com YouTube- Bachelorette Pad Flip Facebook- The Bachelorette Pad Flip Instagram- Bachelorettepadflip   Looking for Funding? Ladies, you need to check out Fund That Flip! We are excited to tell you about Fund That Flip, a company we are very proud to call our sponsor. Fund That Flip is the leading provider of fast, convenient, affordable capital for experienced real estate investors who buy and rehabilitate residential properties. To date, they have helped hundreds of real estate investors grow their businesses by funding thousands of deals. You deal directly with them, getting your deal funded in as few as 10 days.  85% of their customers come back to do more business with them because of their dedication to exceptional service. It’s why they were named No. 42 of Inc.’s fastest-growing companies in America.  What do they fund? Fix-and-flip New construction Buy and Hold Properties Cash-out refinance projects from 1-4 units Real Estate InvestHERs, Get $500 towards your next closing! Check them out by visiting – www.fundthatflip.com/investher  InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms.   How To Join the InvestHER Movement   1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.  Subscribe via Itunes Subscribe via Android Subscribe via Stitcher   2)  InvestHER Community on Facebook  We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!  3) InvestHER Meetups Around the Globe We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther