#82: Migrating to the US, Fix & Flip Real Estate Investing
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If you thought about quitting your day job and getting into real estate investing. Our next guest is a must to listen.
Leka Devatha moved to the US from India 13 years ago. She quit her corporate job at Nordstrom in 2014 and started Rehabit Homes, Inc. It's a company focused on residential redevelopment.
She has now flipped over 40 homes and has expanded her focus to include land development, additions, acquiring long term rentals both in state and out of state. Her strength is finding creative exit strategies on every deal.
She also serves as an advisor on the board of Certain Lending, a FinTech company based in SF. She enjoys inspiring and motivating other entrepreneurs to build successful businesses. And she's even co-authored a book.
In this episode, we’re discussing…
· [2:25] How she started doing family fixing flips back in 2014, Real Estate business and more projects she’d been involved with
· [6:25] How does she find a house to work with and her background in design and esthetics
· [9:52] How the details are very important on her projects, every house has to be different designed
· [11:37] What kind of research and decisions she does on every deal, the neighborhood location around and the rehab budget
· [14:57] Everything it’s all about the numbers, not emotion
· [17:07] The importance of do not over flipped properties and what needs to take into consideration in this
· [18:41] Who’s the typical buyer once she flips and how her market changes due to demographic
· [21:12] Her networking Real Estate investors and events to sponsor to different charities which she’s passionate about
· [25:55] How works her other project, land development deal
· [28:26] The book she’s been working on and how it can inspire other women and even men. And other projects she’s so excited about like Self-Storage, investing place
Leka’s Top Tip’s
· “If you have a 9-5 job, I don’t recommend doing more than one fix & flip project at a time, you can still do it if you’re going at your own pace, over the weekends, or you’re not paying heavy, hard money, the cost for financing”
· “I highly recommend patterning with someone that’s doing this full-term, because it’s just not easy, a lot of can go wrong”.
· “I bought from different channels, as you start to do more flips and start networking with the right people, you’re gonna find better ways to find a deal”
· “Most of my projects now come with a minimum of 100 to 150K spread. They’re much larger remodels. I have to work with architects, design engineers, and structural engineers and really take the house back down to the studs to rebuild”
· “I am essentially buying it at a pretty steep discount because of all the work that it's gonna take to fix it up”
· “I really pay attention to the details, I like designing, focusing, and coming up with creative ways to design the same home”
· “Before I buy, I go to look at the property, like I can look into it on the map, I can look at the neighborhood and the location. I can always work backward and say, ok, it doesn’t matter what the fix-ups gonna be, once I walk the property, I can come up with that”.
· “I’ve done about 50 single family flips myself, but to do those I’ve walked over 500 properties. So, just going in evaluating every single deal, I’ve gotten pretty good at coming up with the rehab budget”
· “Sometimes I take my architect in there to evaluate whether or not the house needs to be seismically retrofitted. But pretty much, for the most part, I’m able to walk my self and come up with that repair estimate”
Mike’s Top Tip’s
· “Don’t overdo it, it’s all about the bottom line. You’re into investing to make money not to make houses, the bottom line is to diversify your portfolio, diversify your income and make some money”
Resources about Leka
+ Read the transcript
Mike Stohler What if you could be doing something smarter with your money that creates income. Now, if you're wanting to get ahead financially, and enjoy greater freedom of choice, if you want a comfortable retirement, and you know you'll have more choices, if you can do more with your money. Now, if you've wondered who else is creating ways to make their money work for them, and you want actionable ideas, honest pros and cons. Welcome to the Richard geek podcast and work here helping people find creative ways to build wealth and financial freedom. I'm Mike Stoller, and in this podcast, you'll hear from others who are already doing these things, and learn how you can too. Welcome back to another episode of richer geek podcast. If you thought about quitting your day job and getting into real estate investing. Our next guest is must to listen. Lika Devatha moved to the US from India 13 years ago. She quit her corporate job at Nordstrom in 2014, and started rehab at homes. It's a company focused on residential redevelopment. After a string of successful flips, she obtained her broker's license and became one of the Top Producing agents in her office. She's now flipped over 40 homes, and has expanded her focus to include land development, additions, acquiring long term rentals, both in state and out of state. Her strength is finding creative exit strategies on every deal. She also serves as an advisor on the board of certain lending, a FinTech company based in San Francisco. She enjoys inspiring and motivating other entrepreneurs to build successful business. And for this reason, hosts a monthly meetup, real estate at work to bring new and seasoned investors together. And she's even co authored a book. Welcome back to the richer geek. I'd like to welcome the wonderful Lika de vatha. I get that right. This is not our first time meeting. And as soon as we did meet, I was like, Oh my gosh, we just have to have you on the podcast. And for a number of reasons. Number one is seems like you're the new Wonder Woman or Superwoman in real estate investing is it you have your hand and just about everything. But he first like, welcome to the show. And tell us a little bit about yourself and what you're all about.
Leka Devatha
Thank you, Mike. It was so wonderful to meet you in person in Phoenix not too long ago. And I'm happy to be here. Happy to be recording today. We were gonna do this a week ago, but I lost power. So sorry about that. But yeah, my name is Leica data and I invest primarily in the Seattle, Washington market. I started doing single family fixin flips back in 2014. I've done about 50 flips, you know, just try to buy and hold a lot of single family and multifamily properties. I do host a meet up once a month among other things, and I'm also on the board of certain lending, so hard money slash bridge lending company and they lend to real estate investors. So that's been kind of a fun project to see you know how they've evolved.
Mike Stohler
Yeah, I mean, like I said, you're into just about everything. A lot of our listeners are currently working nine to five they have busy jobs, but they do watch that wonderful television show that you know that that channel and they they see that wow, look how easy it is to do a fix and flip. Is it as easy as the television shows, put it?
Leka Devatha
I wish.
Don't get me wrong. I did watch those shows myself back in the day. But since I've actually actively been doing this, I don't watch it. I am afraid to watch it because there's just so many things that are portrayed wrong. Everything from getting permits to the numbers to the renovations themselves like it's a lot more involved. Especially If you have a nine to five job, I don't recommend doing this, you know, and doing more than one project at a time, you can still do it if you're going at your own pace, you know, over the weekends, or you're not paying heavy, hard money, costs for financing. But if you are doing those things, and I highly recommend partnering up with someone that's doing this full term, because it's just not easy, a lot can go wrong. I wish it was as quick and glamorous and easy. Like you snap your fingers. And there's a before picture and there's an after picture. It's not that easy. I look it was but it's not. Yeah.
Mike Stohler
Well, if it was everyone would be doing well. I should say everyone, I think has time trying to do it. And yeah. But and then what happens is usually then I come in and end up buying the house after they're getting in trouble and then I buy at an even steeper discount than the fixin flipper. Exactly. But so with with the fix and flips, how do you go about? I'm sure it's changed. Maybe you can tell us a little bit? Do you just go on? Like the MLS or the or the Craigslist? How do you find a house?
Leka Devatha
Yeah, yeah. Um, yes, it has evolved, you know, through my career I bought from different channels. When I first started out, you're absolutely right, like, I would go on the MLS or Craigslist, you know, talk to for sale by owners, brokers that were advertising on Craigslist. But that is all changed. You know, as you start to do more flips and start networking with the right people, you're gonna find better ways to find a deal. So most importantly, like for me, I think it's just networking with the right wholesalers. And people that kind of know what they're doing that are investors themselves. So most of my projects now come from off market deals, where someone is buying directly or putting the house under contract directly from the seller. And then I'm going there and you know, getting transfer of that contract and then eventually ending up with the house. Most of my projects now come with a minimum of 100 to 150 k spread. They're much larger remodels. So it's not like a paint carpet lipstick remodel is, as I like to call it, yeah, they're much more involved. You know, I have to work with architects and design engineers and structural engineers and really take the house back down to the studs to rebuild. And so I am essentially buying it at a pretty steep discount because of all the work that it's gonna take to fix it up.
Mike Stohler Wow, that yeah, that's impressive. That's so
Leka Devatha
yeah, you know,
Mike Stohler
I think most of the time people think, and where people sometimes get in trouble, they go in and wash coat of paint. They don't even do things. They patch up some holes, and then they try to sell it, you know, for 45 40 $45,000 Plus, you know, but just doing that lipstick. It sounds like you're really taking it down. But then your background is in some design, you know, isn't that correct?
Leka Devatha Well, I used to be a buyer fashion off of you know, Nordstrom. So I did I do, it wasn't technically designed, but I was a fashion merchandiser and marketer, yeah. Um, so I did buy special occasion dresses for the whole Nordstrom company. So I am I was involved. To some degree, the aesthetics are important.
Mike Stohler
Yeah. And so you have that I, you know, we're me, I look at a rock and it's a rock, you know, I mean, at least you you have that kind of an eye for design. And what looks nice in the fashion world and, and what aesthetically, might be as far as the trends going, and it's something that I thought was fascinating. Here in the in the Phoenix areas, and I don't know if it's the same with you. I can always tell if that's a fix and flip, or if that's a that's a turn, you know, it's a house because as the years the seasons, it seems like it's all the same color outside, you look at the pictures, they're all kind of the subway tile. It's kind of like the same. Do you see that? That that's what's happening with the trends and
Leka Devatha yeah, I mean, there's a lot of guys that, you know, flip homes in my market too, right? Yeah. If you see their projects, it's Always the same tile the same subway, the same courts the same, like gray outside exterior colors. Yeah, I think that's what's so fun for me is that every house has to be different. No two bathrooms can have the same tile. No light fixtures can be the same. Like for me, I really pay attention to the details. And I like designing. So I like you know, either doing like a chevron floor with bright blue cobalt cabinets, like, really, you know, focusing and coming up with creative ways to design the same home.
Mike Stohler And so, you know, we kind of talked about, you know, what I call the bird dogs, you know, that the people that kind of bring, and for people that don't really know what bird dogging is, is, it's kind of like the fix and flippers. Right hand person, right, you know, they explain what a bird dog is, and how important it is to finding those those really good people.
Leka Devatha
Yeah, so bird dogs are essentially people that are out looking for these deals, you know, they're either door knocking, they're calling bandit signs, or they're driving for dollars, right. So they're driving around neighborhoods, looking at older properties, distressed homes, trying to track down the seller, sometimes sellers don't live in the same city. They don't live on that property. So it's like trying to track down the sellers to kind of get us in, get our foot in the door, to go buy these distressed properties. So essentially, they're like our eyes and ears on finding these distressed properties.
Mike Stohler And so if you find a house, and this is something that I would you know, whether you caution our viewers or not our listeners, do you buy everything and then figure it out later? Or how much kind of research Do you even if it Wow, this looks like it's a really good deal? Do you bring in other people or, you know, with? How much engineering? Is this really going to take? Or does it matter to you, you just if you think the margin is there, you just buy it and figure it out? And
Leka Devatha
yeah, um, so before I even go to look at the property, like I can look at it on the map, I can look at the neighborhood and that location and say, Okay, this is how much a fully fixed property in for the square footage and this location is going to be worth. So knowing that, like, I can always work backwards and say, okay, it doesn't matter what the fix ups gonna be, you know, we can, once I walk the property, I can come up with that. Because I've done like about 50, single family flips myself, but then, you know, to do those 50 flips, I have walked over 500 properties. So just going in evaluating every single deal, I've gotten pretty good at coming up with the rehab budget. So then once I walk the property, and I know my rehab budget, then I know Okay, this is how much I want to pay for the property. You know, whether it's 450, or 500, K, whatever it is, I know that my max resale value is this, my rehab is this. And so this is how much I can afford to pay. So I don't necessarily need to take an engineer or like a structural engineer or an architect right off the bat. Because now I can kind of assess those things myself. But I have done that in the past where I would take my architect along with me. And he would help evaluate basement ceilings, like in my area to the city makes us do the seismic retrofits because we have tons of basements. And we are in earthquake prone zone. And so they are now enforcing people if you're fixing up the basement and you're doing a significant alteration to the home that they re seismic retrofit the home, which basically means that we are strapping the basement framing the studs to the concrete. So so we have to do that. So sometimes I take my architect in there to evaluate whether or not the house needs to be seismic retrofitted. But pretty much for the most part, I am able to walk at myself and come up with that repair estimate.
Mike Stohler
Yeah, and I think it's important to know that when you're getting into fix and flips, it's like what you're saying it's you base the decision. Zero on emotion. Yeah, and I think a lot of people get in trouble this like, Oh, I want to fix and flip this. You know, see, it's so pretty. It's good. Isn't this a cute? And they they go ahead, a little bit out of my range, but I want to go and fix and flip it because it's gonna be so cute. And that's when you just shake your head. It's like, oh, you're just not going to survive in this world. Because it's all about the numbers, right?
Leka Devatha
It's all about the numbers that I have passed on. So many cued houses, really great houses and great neighborhoods. But I know that on the flip side on the back end of it, rather, I'm just not going to hit those numbers, given the amount of work that needs to be done. Like it's just not worth it. And so I'm yeah, I'm always, you know, wary about the house that I pick. And I've gotten more pickier. Now before I would, like someone would pass on a deal. And I'm like, Yes, I'll do it, you know, and I've gotten in trouble because things, you know, they just add up. And if your rehab estimate goes beyond what you budgeted, or the timeline doesn't work out, then you know, you're just gonna have to take a loss and you do enough of those, you know, what not to buy?
Mike Stohler
Yeah, and and what not to put in, you know, I've I've talked to so many people that, you know, you have either spouse or a couple partners one is kind of looks at the money one says, Oh, we want this in that in and, and we need granite, and we need this fancy tile, and they put all this stuff in. And I'm like, thinking it's like, you know, this is a Class C house, and you're talking about overpricing the house, because that's what you would want, right house that you're living in? Yeah, exactly. And not taking into consideration that this is going to be a blue collar house, this probably going to be an upgrade from an apartment, and they're just going to be extremely so happy just be in a house. They don't need the granite, they don't need the tile. laminate is fine. You know, in certain situations, of when you get into certain price points, you're going to have that, where you need the granite and you need the the wood and the tie on the sort of things. But how important is it to sit there and say, Okay, I don't care how cool this might look. I'm just not doing it. Because it's not the market where this house currently is that
Leka Devatha it's so important, because that affects your bottom line. Massively, right. Yeah. I mean, I have over flipped properties, where you know, my house is probably the biggest and the baddest and the best house. And it's just, you know, people won't pay that price. Just because it's beautiful. It doesn't mean that that demographic can afford it. Like I once flipped a home, it was 3600 square feet. But the biggest house that sold in that location was about 2300 square feet. And suddenly here there is this house that is priced over 300 grand over the last house that sold. So you know that can that hurt me. And so always like stick within that median price point. And only rehab as much as necessary. You can still make it really cute, but yeah, don't overdo it.
Mike Stohler You're that everybody. Don't overdo it. It's all about the bottom line. You're into investing to make money not to make houses. Exactly. Okay, they're going to be cute. Yeah, but they're not going to be overly cute to where you're going to price yourself out. But the bottom line is, you're in this to diversify your portfolio, diversify your income and make some money. Who's your typical buyer once you flip? Are you selling them to other investors or just families
Leka Devatha
they're mostly like younger families. So we have a lot of tech population where I'm at Amazon Facebook, Google employees that you know they don't want to do any work they want to just move into like a complete turnkey home. And so that's when and then the and they like your Oh my like they they want like you know nice fixtures they want nice style nice yards in a good school district. So that's kind of you know, my my buyer profile that guy younger techie couple
Mike Stohler and you know all of our listeners we're all in different markets. So it's it's very different if you're in a blue collar city, it's gonna be extremely different than you know tech savvy. Seattle, you know, or the Midwest and it's all different learn how important is to learn that demographic? Right and do you also stay within a certain degree do you just focus on okay this is my niche in fixin flips or are you all over the place? Where do you concentrate in?
Leka Devatha Yeah, I'm all over the place. I go where the project takes me. So it could be like a multi million dollar flip or it could be 500 k flip. Doesn't matter. As long as the numbers are good, and there's a good spread, then I'm willing to do it. And I also have a really good team, general contracting team, that's important. And it's really also what they where they want to go, right? So same, if the numbers are good and make we can make it work, then we will go anywhere.
Mike Stohler
Sounds cool. And again, it's what what do all of our podcast guests say is the probably one of the most important things? It's there a team? Don't do this without a team, the team? I've, I flamed so hard in my earlier career, because I did not have a team. Yeah, you learn you
Leka Devatha
have to like I don't employ my team. I just work with them, you know. And that's fine to like, use them as you need them. But pay them well, and make sure that you build relationships to, to where you are their priority.
Mike Stohler
Yeah, absolutely. Absolutely. So let's talk move a little bit. And let's talk about real estate at work.
Leka Devatha
Yes. So real estate I work is a networking group that we started back in 2018, we've had over 45 events, so we do an event a month. And it was mainly in person networking, we would provide lunch, it was like a daytime networking event where people you know, that had families and other commitments in the evening could come during the day, grab some lunch and network with really cool people. And we have a generous sponsor that sponsors the luncheon location. So we are able to give all the money that we make at the door to to different charities, which I'm really passionate about, which is great. So, you know, it's a little bit of giving back. But also, it's a lot of networking with some really awesome people that are actual real estate investors in the local area. Now since COVID. This year, we have moved the networking the in person networking event to make it virtual, so more people can attend. And it's remarkable to see how that has morphed into people from across the country. Even people from around the world now tune in to our events, which has been amazing. So we typically have a speaker. I know you were on the head on our last event.
Mike Stohler
I loved it. I you know, I absolutely. And I may do some business with, with some some people that were there, you know, and it's just fabulous. I just absolutely loved it. Great people. And who is this? Is this an invite only are there? If so, are there recording somewhere where people can kind of learn? Yeah,
Leka Devatha
so this is not invited me, it's open to everybody, you have to follow me on social media to see the events for our events, because we don't have our to see the details of our events, we don't have a set schedule. It's really when my speakers are available. And when I'm available that we put an event together. So it's not like we're doing this every month on a certain specific date. So I just put it out on social media on LinkedIn on Instagram. And you know, we have a link to a zoom, and you just tune in. And we do like a speaker session, followed by breakout rooms. We've had some really killer speakers in the past. So I highly encourage you going and checking out our previous events. We do have a real estate at work YouTube channel. So if you google us, like you should be able to find it. And all of our past recordings are on there. So go go check it out.
Mike Stohler
Perfect. Yeah, there was people you know, from finance, fix and flip. People like me the hotels, but there was also college students that have you know, they're very shy, hey, I haven't done anything. But I want to learn type of thing. And it's just wonderful.
Leka Devatha
Yeah, it's amazing is that we have people from every gamut of investing careers like people that are just getting started to people that haven't even heard of it. Two people that are crushing it like you mark and so it's, you know, it's like, awesome to see all these people coming together and like, you know, helping each other out.
Mike Stohler
Yeah, it's just I love it. It's the thing is COVID has been horrible. Someone that's COVID positive right now. Yeah. And dealing with it, but it's, but
Leka Devatha
Oh, so sad to hear but
Mike Stohler
that's okay. I'm fine, I'm fine. But it's the thing is the the virtual world has just exploded and opened up so much. Instead of watching the TV shows you can actually learn from people are actually doing it real life experience. And it's not Hollywood, you know, it's learn from our mistakes or failures, because I'm the first one to admit that oh, my God, you know, fried I mean, I just and then, but pick yourself up and learn. I think
Leka Devatha
Mike, the first time we met, that's what we connected on is that you were like, Oh my god, I made all these mistakes. And I'm like,
Oh my god, me too. Exactly. And then I'm teaching I want to teach people how not to make them not
Mike Stohler to make those mistakes. Exactly. And that's
why we have these podcasts.
Leka Devatha Right?
Mike Stohler
Let's talk about now you're kind of shifting because your Wonder Woman. And now all this other stuff isn't good enough for you? You're into land development?
Leka Devatha
Yes. Okay. So
Mike Stohler
it's it's another branch off of the diversity? diversified tree? And that's how we met here in Phoenix. You were down here shopping for some land? Yeah. So what are you doing?
Leka Devatha
Yeah, so um, you know, one of my flips, basically ended up being a huge land development deal, it was just gonna be like a small time fix and flip, like, you know, quick in and out three months construction, put it back on the market and move along. Instead, I held on to it, I subdivided that lot into three different parcels. And now I'm selling the two parcels and the house separately. And you know, that nets me quite a big profit. And so I been looking at basically developing land and more, buy more sites. And so like I was in Phoenix, we were looking at some land to buy and build assisted living facilities or adult family homes. So it was, you know, it was nice to come see the market and kind of see how different it is from Seattle. A
Mike Stohler
little bit a little bit drier, I think.
Leka Devatha
A little bit
Mike Stohler
more cacti? Yeah. I mean, that's, that's amazing. I think you know, why stick to one thing, once you get good enough, once you have that team, then you can kind of diversify out
Leka Devatha
to say that don't, you know, put your foot in everything. And once, do one thing and do it really well. Once you're good at it, then go look for the next thing. So like when I first did fix and flip, that's all I did. For three years, I just focused on doing fix and flip. And in year three or four was when I got my real estate broker's license, I didn't even have a license till then. So I just say like, you know, when you do something like do it really well, and prove to yourself that you're capable of doing it, and then it's easy to kind of diversify. And then please diversify. Learn, learn as much as you can.
Mike Stohler
And now you're you've diversified into books.
Leka Devatha
Yes.
Mike Stohler
And it's not just any book. It's it's a group that you're with, you know, you do a lot with women investors. Yes. And you kind of concentrate in building up that segment of the investing world. So tell me a little bit about the book, the group that the book came from?
Leka Devatha
Yes. So the group is called the invest her community. And they are the publishers of the book that we all collectively wrote. The book itself is called the only woman in the room. And it's 20 real estate, women investors from across the country, even Finland. And we came together and we each wrote a chapter in the book. It's compiled by my very good friend, Ashley Wilson, who is such a rockstar powerhouse herself. So what Ashley though the idea for the book came about because Ashley was at a convention, where there was 475 men and 50 women. And she was kind of taken aback by how many men they were and how few women they were in the real estate investing space. And so she at that point, said, I need to, you know, basically get some killer women together to write a book that other women and even men can read and be inspired. And that's kind of what she did. She went across the country and she found 20 women, and we each wrote a chapter and We put it together compiled it. And now the response has been so awesome. Like people from all over, write to us and tell us what, you know, inspiring stories we've written about. So it's, it's been a really cool book to be a part of.
Mike Stohler
Very, very exciting. So we will, we'll end on on a couple of notes, you know, so what in the world is next?
Where do you?
What is your What is your inspiration? Where are you? 2021? Where are you want? 2023 years? A couple years?
Leka Devatha
Yeah, so I have been really excited about the Self Storage, investing space. So I am actively researching self storage. And also, like I mentioned, assisted living. So these these two assets, asset classes, I think, are self storage, because it's really like the next big, bad, awesome asset class to be part of assisted living, because I just feel like there's a need in our country to open, you know, these beautiful homes for adults and provide quality care. So I just think that these are the two asset classes that I'm going to focus on next year and hopefully, you know, be actively involved in one or both of them.
Mike Stohler
Yeah, it's, it's interesting to say that because I'm doing a feasibility study on in the area, it's, it's going to be a, you know, all kind of spilled the beans, okay. It's going to be a joint kind of a Luxury RV.
Leka Devatha
Okay.
Mike Stohler
Storage, slash self storage.
Leka Devatha
Nice.
Mike Stohler
But it's going to be more of a all covered RV parking, because our V's are up just within COVID. They're up around 240%. The ownership is no one's flying. Now. Not all those 240% of ownerships are going to have places to park. Yeah, their new RVs or their boats, you know, in these trailers. And then, along with, I do believe that self storage is is going to be extremely, extremely popular, especially with the population growth and people moving. So I'm going to kind of marry the two. And if I can see if we can do something, so maybe we'll talk in the future. Yes,
Leka Devatha
let's talk.
Mike Stohler So, to wrap things up, where can people find you to learn more to get involved and just listen to your wisdom?
Leka Devatha
Thank you so much, Mike. Yes, I am on LinkedIn, you can find me through my first and last name Lake data. I'm also on Instagram. Same my handle is like a data. So I would love to connect. And if I can help in any way, I'm happy to shed light and, and help you on your investing journey.
Mike Stohler
There you go. And, ladies and gentlemen, we'll have all that information in our show notes, where you can find her and how you can follow her to find out all the exciting things that she's going to be doing. Take care of everybody. And thank you for listening to Richard.
Thanks for tuning in to the richer geek Podcast, where we're helping others find creative ways to build wealth, and financial freedom. For today's show notes, including all the links and resources from our show, and more information about our guests, visit us at www.richergeek.com slash podcast. And don't forget to jump over to Apple podcasts, Google Play Stitcher, or wherever you get your podcasts and hit the subscribe button. share with others who could benefit from listening and leave a rating and review to get the podcast in front of your eyes. I appreciate you and thanks for listening
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ABOUT LEKA DEVATHA
Leka Devatha moved to the US from India 13 years ago. She quit her corporate job at Nordstrom in 2014 and started Rehabit Homes, Inc. a company focused on residential redevelopment. After a string of successful flips, she obtained her broker's license in 2017 and became one of the top-producing agents in her office.
She has now flipped over 40 homes and has expanded her focus to include land development, additions, acquiring long term rentals both in state and out of state. Her strength is finding creative exit strategies on every deal. She also serves as an advisor on the board of Certain Lending, a FinTech company based in SF. She enjoys inspiring and motivating other entrepreneurs to build successful businesses and for this reason hosts a monthly meetup, 'Real Estate at Work' to bring new and seasoned investors together and she has even co-authored a book!