Real Estate Investing School Podcast

Episode 130: REAL DEAL - Finding Yourself Through Real Estate

Release Date: February 8, 2024
Host: Brody Fawcett
Guest: Emily Fackler, Head Coach at Real Estate Investing School

Overview

This episode of the Real Deal series zooms in on the power of real estate to catalyze personal change and financial growth, featuring the story of Emily Fackler—who moved from a successful but all-consuming corporate career to full-time real estate investing. Emily breaks down a standout deal—a 72-lot mobile home park in Kentucky—that she acquired with “none of her own money,” revealing concrete, actionable steps for anyone looking to reclaim their time and financial future through real estate. The conversation covers the ‘why’ of her transition, the nitty-gritty of creative acquisitions, and down-to-earth advice for new investors—including what she wished she'd done differently.

Key Discussion Points and Insights

1. Finding Purpose Through Real Estate (00:00 - 04:36)

• Brody Fawcett opens the episode pointing out that real estate deals are often simple (but not easy), requiring work, intention, and willingness to step beyond comfort zones.
  • “Just how simple it is to replicate and to do on your own…Simple, not easy, because it does take work.” (A, 00:32)
• Emily Fackler shares her story of leaving a high-paying, fulfilling job because she realized her career kept her distant from her kids.
  • “We had a babysitter...she knew more about my kids than I did.” (B, 02:18)
  • “I loved my job until, you know, it was just too much, and I realized I love my family more.” (B, 02:22)

2. Making Life-Aligned Sacrifices (03:27 - 04:36)

• Emily describes the big sacrifices made to free herself for family (moving cities, budget cuts, leaving private schools), all deemed “totally worth it.”
• She stresses the importance of not settling and realizing “there is another way” outside the corporate grind.
  • “If I can help them realize that there is another way…It really transforms your life.” (B, 04:09)

3. Deal Breakdown: Creative Acquisition of a Mobile Home Park (05:21 - 20:45)

Deal Overview (05:21 - 07:20)

• Asset: 72-lot mobile home park in Kentucky, 18 park-owned homes.
• Source: Found on Facebook Marketplace—deal was not listed for sale.
• No Money: Emily set out to use zero of her own money out of necessity, not just creativity.
  • “My goal for this property was to use zero of my own money. And I'll be honest ... I didn't even have any money to use.” (B, 05:26)
• Strategy: Leverage systems (like Marketplace notifications) and targeted outreach with intention, not luck.

Negotiation Process (07:22 - 12:03)

• Original Ask: Seller wanted $600,000, 20% down, 6% interest.
• Emily’s Approach: Built rapport, asked for seller financing, and made a transparent, data-driven counteroffer.
  • On negotiating: “If you can explain why you're having to do a 375, this is the payment I need to make money based on what the money's coming in and the expenses I know I'm going to have come out…” (B, 17:11)

Terms Secured (16:51 - 18:10)

• Final Price: $375,000 (down from initial $600,000 ask).
• Down Payment: 10% ($37,500).
• Interest: 6%, amortized over 20 years.
• Seller Financing: Achieved by clarifying her needs and presenting several options.

Funding the Down Payment (18:50 - 20:22)

• Down payment was entirely funded by a private lender (family friend) at 6% interest, amortized over 30 years with a 5-year balloon.
  • “We did 6% on that as well… because I knew based on our numbers, even if worse came to worse, that I'd be able to pay that money back.” (B, 19:32)
• Lender has no equity, only a promissory note.

4. Cash Flow Realities & Value-Add Strategy (21:28 - 23:54)

• Initial Cash Flow: $3,500/month, but Emily reinvests all profits into the park for upgrades and vacancy fills.
  • “Day one, we're getting 3,500 in cash flow. But I am not keeping that money…I’m putting that back into the park.” (B, 21:33)
• Upside: Added $3,300/month in year one by rehabbing vacant homes and increasing units at market rent.
• Community Focus: Rents lifted slowly to market rates with sensitivity to tenants; business model prioritizes long-term, ethical growth over instant profits.

5. Lessons Learned, Cautionary Advice, and Community (26:04 - End)

• Reserves Matter: Emily candidly admits underestimating the need for reserves—plumbing issues caught her off guard.
  • “I did not have enough reserves in my account…I did not have enough reserves that I needed.” (B, 26:06)
• Workarounds for Reserves: Suggests negotiating reserve funding into private lender agreements, tapping business credit lines or cards.
• Support Systems: Strongly advocates finding a coach, community, or mastermind to avoid mistakes and maintain motivation.
  • “Most of my calls…is all right, I'm feeling like this and I'm going, that's normal. I did this, this and this.” (B, 27:37)
• Transparency: Emily offers to share the actual correspondence and deal docs she used with students to demystify the outreach and negotiation process.

Notable Quotes & Memorable Moments

• On Getting Started with Nothing
  “I didn’t even have any money to use. So it wasn’t just like, oh, I’m really creative. I am creative. But like a lot of the listeners…I didn’t have any money.” (B, 05:27)
• On Negotiation
  “It's not B2B business to business. It's human to human. Explain why you're doing that. If you can explain why you're having to do a 375…” (B, 17:11)
• On Asking for Seller Financing
  “If you never ask, the answer is always no.” (A, 14:00)
• On Market Realities
  “We always buy something where the rents aren't at market…But we're very, very mindful of bringing those up. It may be a slower business plan…but that's important to us.” (B, 22:58)
• On Delayed Gratification
  “A lot of people…think, oh, well, I, I was gonna live off this. I quit my job because it was $3,500…that takes time.” (B, 21:33)

Fun Moment

• On Family Perception vs. Reality
  Emily’s husband: “We have all these properties. Where’s the money?”
  Emily: “We're not taking the money yet. We've got to not take any of the money right now.”
  (25:17 - 25:44)

Timestamps for Key Segments

• 00:00 — Introduction & Episode Theme (The “simple, not easy” mindset)
• 02:12 — Emily’s Pivotal Career Shift (Leaving corporate for family)
• 03:27 — Sacrifices and Life Adjustments
• 05:21 — Overview of the Kentucky Mobile Home Park Deal
• 07:22 — Lead Generation & Direct Outreach Explained
• 10:12 — Building Seller Relationships & Negotiations
• 15:24 — Structuring Seller Financing
• 18:50 — How Emily Funded the Down Payment
• 21:28 — Realistic Cash Flow, Reinvestment, and Community Focus
• 26:04 — Lessons Learned: The Importance of Reserves
• 27:37 — Advice on Coaching and Community
• 28:43 — Deal Documentation Offered & How to Connect with Emily

Final Advice

• Do the Work: Real estate investing is accessible, but requires persistence, resilience, and willingness to learn and ask for what you want.
• Find Support: Surround yourself with experienced mentors or peers to avoid avoidable mistakes and stay motivated.
• Be Patient: True wealth in real estate is a long game—delayed gratification is key.
• Prepare for the Unexpected: Always plan for reserves and occasional setbacks.

How to Connect with Emily

• Instagram: @emilyjfackler
• Email: emily@realestateinvestingschool.com
• Deal Docs for Students: Available via Real Estate Investing School

To connect with coaches or learn about the Real Estate Investing School, see the show notes.