This is Part 2 of the Interview with Ali Boone who is the owner of Hipster Investments and has been a regular contributor to the Bigger Pockets Blog since 2013. In this episode she shares her personal real estate investing journey and discusses why she buys “turnkey” residential investment properties, why she buys them out of state, why she is comfortable buying them sight-unseen, why she buys to hold and not to flip, and why she always uses professional property management. Ali talks about the importance of prioritizing your time and mobility and explains the difference between being a real estate investor vs. a landlord or a rehabber. She talks about how to build your team and manage your property managers. Ali tells the story about how she once dealt with a roof blowing off her rental property in the US without ever having to leave the swimming pool in Nicaragua. She then discusses her degree in spiritual psychology, the benefits of meditation, Kundalini yoga, Tantra, and her specific techniques for dealing with stress. She also talks about her TV Debut on a reality makeover show, and tells the story of how she had to give flight lessons wearing 5 inch stiletto heels. She shares her top book recommendations, favorite travel region in the world, and talks about her top bucket list destinations as well as the advice she would give her 20-year old self if she could go back in time.
Episode #10: Bigger Pockets Blogger Ali Boone on Turnkey Real Estate Investing, Property Management, and Her Reality TV Debut
Episode Summary
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What You'll Learn
- The advantages of buying out-of-state rental properties, using professional property management and how to navigate the associated challenges.
- How to value your own time and mobility, and ensure that your choices enhance your control over them instead of restricting them.
- How to use spiritual psychology, meditation, yoga and tantra to reduce stress and live a more fulfilling life.
Links From the Episode
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BOTTLE OF WINE SHARED IN THIS EPISODE:
ALI’S TOP TRAVEL RECOMMENDATIONS:
ALI’S TOP BUCKET LIST DESTINATIONS:
OTHER DESTINATIONS MENTIONED:
Check Flight Prices to Any of These Destinations
BOOKS THAT ALI RECOMMENDS:
ALI’S REALITY TV SHOW DEBUT:
ALI’S FAVORITE PURCHASE FOR UNDER $100
CONTACT ALI:
Time Stamped Show Notes
[02:20] ALI’S FAVORITE TRAVEL DESTINATIONS
- Ali Talks About Her Favorite Travel Destinations in the World
- Ali Shares Her Top Bucket List Travel Destinations
- Ali Talks about her love of Nicaragua
[11:00]ALI’S INVESTING PHILOSOPHY ON BUY PROPERTIES OUT STATE
- Ali talks about why and how she buys rental properties out of state
- Ali shares her personal experience trying to buy her first rental property
- She explains her current real estate investing philosophy and approach
[15:10] HIRING PROPERTY MANAGERS AND VALUING YOUR OWN TIME
- How Ali hires local property management companies to manage her rental properties
- The advantages of having someone else manage your property
- How to manage your out of state property manager
- How She Handled a Roof Blowing Off Her Rental Property While Out of the Country
- Why and how to value your own time
[21:30] HOW TO DEAL WITH STRESS
- Ali’s strategies for dealing with stress
- Ali’s self-talk strategies
- Ali’s internal coping mechanism for hard financial times
[30:00] SPIRITUAL PSYCHOLOGY AND MEDITATION
- Ali’s motive in getting each of her Master’s degrees
- Ali’s attraction to spiritual psychology
- Ali’s attraction to Kundilini Yoga and Tantra
- How and Why Ali meditates
[39:27]ALI’S REALITY TV SHOW DEBUT
- The name of the realty TV show and episode featuring Ali
- The premise of the show
- Behind the scenes stories from Ali’s experience
- Teaching flight lessons in someone else’s stiletto heels
- Where and how to watch Ali’s Episode
[44:09] THE LIGHTNING ROUND
- Ali’s most recommended books
- The advice Ali would give to her 20-year-old self
- What gets Ali out of bed in the morning
- Ali’s most impactful purchase for under $100 dollars in the last year
[47:22]CONTACT ALI
- Ali’s business contact info, website, social media handles and email
- Ali’s personal Instagram handle
About the Guest
Ali Boone
Ali Boone is a 9-to-5 dropout who left a high-paying career as an Aerospace Engineer to start her own business. She is the founder of Hipster Investments, a real estate investment company that flips real estate investing on its head. Not only does Hipster offer unique investment opportunities that open the door for anyone to invest in real estate, but Ali has structured Hipster in such a way that allows her full freedom to create the life of her dreams. Ali has Master’s degrees in both Aerospace Engineering and Spiritual Psychology. She has written over 170 articles for BiggerPockets—the world’s leading real estate investing website. She has been featured in Fox Business and The Motley Fool, has over 300k views on her Calculating Rental Property Numbers video on YouTube, has sold over 200 copies of her Turnkey Rental Properties 101 eBook, and was awarded Top 100 Real Estate Investing Blogs & Websites on the Web. If you ask Ali what her biggest accomplishment is though, she’ll tell you it’s that she successfully created a completely location-independent business that allows her to live wherever she wants, travel whenever she wants, work whenever she wants, and most importantly—be her own boss. When Ali isn’t helping people buy real estate or coaching other entrepreneurs, she is usually flying airplanes around Santa Monica (and teaching other people to fly as well), hanging out in the SoCal outdoors whether it be the beach or the ski slopes, or volunteering in California prisons.
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