65. Leverage Design and Market Knowledge With Renee Lossia Acho

Summary

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Episode 65 Summary: Leverage Design and Market Knowledge With Renee Lossia Acho

The Millionaire Real Estate Agent | The MREA Podcast
Host: Jason Abrams
Release Date: January 13, 2025

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Episode Overview

In this episode, Jason Abrams sits down with Renee Lossia Acho—a former teacher turned top-producing luxury real estate agent in Birmingham, Michigan with over $200 million in annual sales. Renee shares her journey from the classroom to the closing table, revealing how she leveraged design expertise and deep market knowledge to build a thriving business. The discussion covers how real estate professionals can create a unique value proposition, build a referral-based business, and strategically invest in real estate (including turning their primary residence into substantial tax-free gains). Renee also speaks candidly about overcoming personal hardship, balancing success with family, and being a female leader in a male-dominated industry.

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Key Discussion Points & Insights

Renee’s Journey: From Teacher to Mega Agent

• Accidental Entry Into Real Estate ([02:29]):

  • Began as a high school history teacher from a family of architects, builders, and designers.
  • Helped friends with design advice, which led to assisting a builder with design selections and holding open houses.
  • A family medical crisis necessitated finding a flexible and lucrative career, propelling her into real estate full-time.
  • Quote:
    “Sometimes you have a set of keys that throughout life, you're putting on a keychain, and you never really understand when you need to use one of those to open a door.” – Renee ([02:48])

• Overcoming Financial Hardship ([04:30]):

  • Daughter’s serious illness led to financial turmoil.
  • Pivoted fully into real estate to pay mounting medical bills.
  • Quote:
    “There's nothing in life that will ever motivate you that I can think of more than the health of a child or a loved one. … I got into real estate to pay medical bills. That was my motivation.” – Renee ([06:28])

Building a Unique Value Proposition

• Leveraging Design & Build Background ([07:14]):

  • Identified a market gap: bringing design and consumer knowledge directly to builders.
  • Offered guidance on design trends, features, pricing, and consumer preferences ahead of project completion.
  • “Let me help you design these products. Let me tell you what the market is...” ([07:51])
  • This niche led to multiple listings at once and later inspired Renee to obtain her builder’s license, conducting her own development projects.

• Product Knowledge as a Differentiator ([09:53]):

  • Experience in both design and construction allows Renee to advise clients beyond mere sales—helping evaluate renovation ROI, construction costs, and market timing.
  • Quote:
    “It’s not about the price you pay today. It's about the overall investment you're making in that home and are you outpacing the market value in that area once you've completed the work.” – Renee ([10:51])

The Role of Deep Knowledge in Real Estate Success

• Knowledge Is Power ([11:53]):

  • Renee emphasizes that knowledge—about the market, trends, inventory, construction, paperwork, and more—is the foundational tool for success.
  • Market knowledge includes hyperlocal factors: school ratings, transportation arteries, municipality features, etc.
  • Product knowledge: distinguishing features in construction materials, mechanicals, and finishes.
  • Quote:
    "You wouldn't go to a mechanic that didn't know how to give you an oil change. … As part of what you're doing, you need to be that resource to help educate your clients." – Renee ([13:24])

• Knowledge Leads to Authentic Lead Generation ([15:32]):

  • “Lead generation to me is nothing more than a conversation. If you really understand your industry, you should be ready for what I call the pop quiz. Anywhere you go...” ([15:50])
  • Being able to answer client questions confidently creates organic opportunities and credibility—turning social encounters into business.

Systems, Community, and Referrals

• Follow-Up Systems ([18:37]):

  • Community-involvement is a “touch”—holding charity events at her homes builds credibility and goodwill.
  • Systematic client contact: regular calls, social and print media, community events, and annual gatherings at her home.
  • Quote:
    “When you are dealing with clients whose takeaway is so profoundly satisfied... they are your lead generators.” – Renee ([20:21])

• Client Advocates and Referral Multiplication ([21:29]):

  • Satisfied clients become “ambassadors,” each sale ideally leading to multiple future referrals.

Real Estate Investing: The “Live-In-Flip” Model

• Investing as an Agent ([23:51]):

  • Renee advocates using an agent’s industry knowledge and resources to invest in real estate, specifically through building or renovating a primary residence.
  • Move in, live for two years and one day, sell for potential tax-free gain (up to $500K for a married couple), and repeat.
  • Quote:
    “I literally built my way out of it. … When I recognized what I then went to sell it, what the profit margin was and if I lived there for two years, what the tax savings was.” – Renee ([24:18])
  • This model generated substantial wealth and a growing real estate portfolio—initially by necessity, now by design.

• Portfolio Flexibility ([26:28]):

  • Looks for properties that can serve as rentals, potential new builds, or renovation candidates, depending on market shifts.

Personal Reflections & Values

• Family, Travel, and Living Intentionally ([27:50]):

  • Despite financial strain, Renee made world travel with her children a priority, citing the value of real experiences over waiting for “the right time.”
  • Quote:
    “Whether they remember or not, I will remember… there are things to be celebrated even in the darkest moments.” – Renee ([28:25])

• Breaking Gender Barriers in Real Estate Development ([30:01]):

  • Acknowledges ongoing challenges as a woman in a male-dominated space.
  • Attributes continued success to deep knowledge and simply “out-knowing” detractors.
  • Quote:
    “There's always challenges. Knowledge will always be your power tool. It'll always be your superpower.” – Renee ([30:45])

• Raising Good Humans ([31:23]):

  • Core family goal is to raise kind, empathetic children rather than focusing solely on financial or professional success.

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Memorable Quotes & Moments

“Sometimes you have a set of keys that throughout life, you're putting on a keychain, and you never really understand when you need to use one of those to open a door.”
— Renee (02:48)

“I got into real estate to pay medical bills. That was my motivation.”
— Renee (06:28)

“It’s not about the price you pay today. It's about the overall investment you’re making in that home...”
— Renee (10:51)

“Lead generation to me is nothing more than a conversation. If you really understand your industry, you should be ready for what I call the pop quiz. Anywhere you go...”
— Renee (15:50)

“There's always challenges. Knowledge will always be your power tool. It'll always be your superpower. The way you undo it, I ignore stupidity... and I just struck mine.”
— Renee (30:45)

“My goal was always... I want really good humans. I want good people. … It’s with your heart that to me all other things are paid.”
— Renee (31:31)

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Timely Highlights & Timestamps

• Renee’s Origin Story & Switching Careers: 02:29–07:14
• Design Niche & Builder Relationships: 07:14–09:15
• Building Own Homes / Investing Model: 09:15–11:22, 23:51–27:00
• Knowledge Buckets & Superpower Concept: 12:18–15:20
• Lead Generation by Conversation: 15:20–17:10
• Follow-Up Systems & Client Advocacy: 18:37–21:29
• Real Estate Investing for Agents: 23:51–27:00
• Family, Priorities, and Personal Development: 27:29–30:01
• Women in Real Estate Development: 30:01–31:09
• Raising Grounded Children: 31:23–32:13

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Actionable Takeaways

• Leverage your unique background and skills to fill market gaps.
• Deep industry knowledge—market, product, process—is critical and differentiates you from competitors.
• Organic lead generation stems from authentic, knowledgeable conversations—anywhere, anytime.
• Build a referral business by delivering exceptional, personal value; your clients will become your best advocates.
• Consider using your primary residence as a vehicle for wealth through the “live-in flip” approach with tax advantages.
• Personal and professional fulfillment often go hand in hand: prioritizing family and living with intention create both meaning and success.

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By blending design expertise, relentless learning, authentic connections, and smart investment, Renee Acho demonstrates the blueprints for building a big life and business—one “key” at a time.

Transcript

[A]

Foreign.

[B]

Welcome back to another episode of the Millionaire Real Estate Agent podcast. I'm Jason Abrams and this is the place where we lift the curtain on the world of real estate like never before. Every week I sit down with visionaries, pirates and mavericks. We're here to document, demonstrate and most importantly, demystify their game changing models and systems. What secrets propel them to the top and how are they living their dreams? This is about passion, it's about strategy. But above all, it's about real, tangible success. So buckle up and let's dive in. This is the Millionaire Real Estate Agent podcast. Hey, friends, have you ever heard the saying that doctors make the the worst business people? Well, that may or may not be true, but our guest today would have you believe that teachers make the best business people. Friends, I'm talking about a mega agent hailing from Birmingham, Michigan. Over 200 million a year in sales. And yes, she is a former teacher turned real estate agent. She's going to teach you exactly how to go out and work with builders and also a model on exactly how to turn your primary residence into millions of dollars, tax free. Sit back and buckle up. This is Renee Ache. Renee, how are you?

[A]

I'm great, thanks. How are you today?

[B]

Jason, I'm nervous if I'm being completely honest, because I've looked up to you as a real estate agent for so long and I remember because we live in the same town. Driving past your signs and thinking it's impossible for any one person to have this many luxury listings. And so this is a really big day for me. Thank you for being here.

[A]

It is my pleasure to be here.

[B]

So we're going to talk about the 200 million in annual sales. We're going to talk about an average sales price of a million bucks in the Midwest. We're going to talk about all the things. But before we do, I want to go all the way back. Before you had this success, how did you get into the greatest industry in the world?

[A]

Totally by accident. Like several people I know, I started off as a high school teacher, graduated from Michigan Go Blue and got a master's in education. And I taught American history and government for almost 10 years. Ironically, previous to that, I grew up in a family environment of architects, builders and designers. So my summer job growing up would be to work alongside them and on doing that actually into college, just as a side enjoyment. And as that happened, I recognized that later, looking back on that, it was sort of an apprenticeship, an unknown apprenticeship that I had not really understood at the moment. I tell people Sometimes you have a set of keys that throughout life, you're putting on a keychain, and you never really understand when you need to use one of those to open a door. And so as I was teaching, I got into it and had some friends that colleagues were looking for design and they were buying houses, and I was helping them, just because that's what you do. And recognized by one of my friends that I had this talent to do that. She said, how do you know how to draw and sketch kitchens and do these fabric selections? And I said, well, you know, I grew up in the industry. So that then sort of created and manifested into additional people that I was helping on the side and doing some work in, which then led to an introduction of somebody who was doing spec homes, and he was a newer builder developer in the area and asked me to possibly help him make some design selections, which of course I did, and he was selling them. So I'd hold the houses open on Sunday and sort of, again, just allowed life to take me through this journey. All along, of course, I was following my passion, which was teaching and I was raising a family, until one day, lightning struck. I was pregnant with my third child, and my second had been diagnosed with a very serious autoimmune disease. They told us that she had leukemia, and I was five months pregnant.

[B]

Oh, my gosh.

[A]

I cannot imagine, and I hope you never have to. So in that moment, my entire life unraveled. Obviously, everything stopped for my husband and my entire extended family and I. And trying to find and figure out how to take care of this child and what she was going to need in doing that. The good news is she does not have leukemia, but she did get diagnosed with a very serious autoimmune disease that took a huge toll on our family. Emotionally, of course, and physically, but financially, and you don't realize until you're in the thick of that what that can do and how quickly that takes hold of everything you have. It basically pulled back from our jobs, my husband and I, and put 100% effort into making sure that she got the care that she needed. And within, what, like a matter of minutes, we are in so far upside down on our financials. Bills keep coming, life keeps happening, medical bills add to it. You don't have a whole lot of, you know, resources as a teacher to figure that out.

[B]

You said something I want to touch on. It felt like it was minutes. That must have felt crushing at the time.

[A]

To be honest, Jason, looking back at that part of my life, it's sort of A blur. We had surgeries and traveled all over the country trying to find a cure for what she had and get her the help and finding the best doctors. And ultimately, ultimately we got things stabilized and she was on her way to being cured and going into remission. But that was after many years and within a matter of, like I said, what felt like minutes, it couldn't have been more than a year. We had accumulated what felt like an amount of debt that never would have been solved. I thought, there's no way in my life I am ever going to get out of this debt. I'm going to go to my grave with hundreds and hundreds of thousands of dollars of debt. Family loaned us money, we maxed everything out, we sold our home and we just kept having to plug away. There's nothing in life that will ever motivate you that I can think of more than the health of a child or a loved one. And this certainly was not the exception. What ended up kind of parlaying this journey was that I had to figure out how to make some money fast and create some flexibility in my life to be available to my children and specifically my daughter. But of course, all three of them. While I had been designing and doing these things for my colleagues, I then started to dabble into real estate and started getting phone calls from people, you know, you do what you have to do. So I got into real estate to pay medical bills. That was my motivation.

[B]

It is so crazy to me. So do you stop teaching or are you at that point a dual career as we call it?

[A]

I stopped teaching. My mom and dad were my nannies and I got into real estate full fledged because I realized I at first was doing part time teaching and a little bit of real estate. And then I said, you know what? I can't do everything. And the lack of flexibility in teaching, even though it was my passion, this needed to become my profession. And so I then went full force and ironically found a niche that I didn't quite realize was missing in the real estate marketplace. I started to leverage my apprenticeship or my knowledge and background in architecture, design and building and took it to builders in the area and said, let me help you design these products. Let me tell you what the market is, let me tell you what price point and what style it's. You know, it might not be dark floors, maybe it's light floors or white kitchens versus dark kitchens or whatever it is. I can bring the voice of a lot of the consumer want and help you prior to completing these projects and then going Off, Shoot, I wish I would have used a different blah, blah, blah. I brought it to them ahead of time. So I said, let me start with you and design these homes together and then take it to market, and I'll do that for my service. And ultimately got a huge following overnight. Of instead of one product where, you know, Jason's looking to sell his house and I've got your listing. I had five or six. And then those builders are always looking for more product. So that was the key that unlocked a door that I had never anticipated needing, nor did I even understand I had a talent for until I had to put the pedal to the metal. And there it was.

[B]

I can't tell you the feeling of relief that I have washing over me because I didn't realize that you had this incredible value offering to build. I thought that I was going on appointments with builders and they were hiring you instead of me because you're better looking, smarter, faster, and more articulate. Come to find out, you just had better value proposition than I do. This is fantastic news.

[A]

It was fantastic news for me, and I'm glad it can be great news for you as well. So that was really what started me. And then, you know what's also interesting? So, you know, fast forward as I was doing this and I was, you know, making money and still taking care of my kids, and my husband and I are juggling all this stuff, I started to recognize that I was helping these guys to make lots and lots of money. And I said, hey, wait a minute. I bet I can do this too. So I got my builder's license, and I started developing my own homes. And I built. I think I'm on Project number 17. I've lost track. I don't even know, but I have done 17 build and remodel projects that I have then lived in some and sold others prior to and just flipped. But what I really took away from it is that I can help anybody. The value proposition of taking anyone's needs and becoming a resource for them. So if you're looking at a house and you can't see past a paint color or, gosh, this would be great. I wonder if I can open up this wall between the family room and the kitchen. Those are things that my knowledge and capability can apply in any situation for any client. And it's a resource that then really broadened my spectrum of what I can serve and provide as a value proposition, not just to builders, but to all of my clients. And then I kept myself in the business of building and selling to maintain that knowledge and continue to be able to have that current understanding of what the market is, what the pricing is, what the value is for doing something to a house versus not. If you're looking to buy a house and want to invest in doing the kitchen and bathrooms, you know, I can actually figure out to some degree what that cost will be, what it will mean, what kind of time it would take, and then whether or not that product, that home at the end, will be a good value to my clients. If they invest X, will it be worth Y? And I tell people it's not about the price you pay today. It's about the overall investment you're making in that home and are you outpacing the market value in that area once you're completed with the work that you're really going to spend on that house. So it keeps you relevant. And I think that's really what has been a game changer.

[B]

So if I'm sitting out there and by the way, friends, we're about to get into this thing, I'm taking the notes. You don't have to take the notes. I'm taking the notes. If you don't get the notes, they come out every Thursday. Go to MrEanotes.com, put in your email address, and then every Thursday, I send you the notes. So if I'm sitting out there and I'm going 90 in my range Rover, I'm in the Tesla doing my thing, and I'm saying, okay, how would I even start to think about that? Renee, tell me exactly. If you were starting today and you're a real estate agent, how do you start making all that money?

[A]

It starts with knowledge. We ask sometimes. I know on different podcasts that I've been on and talking to different agents and doing this kind of thing, they say, what is your superpower? I don't know that I have a superpower. I don't know that anyone necessarily has a superpower. But I can certainly tell you knowledge is the power tool that provides to everything.

[B]

Okay, when you say knowledge, define it for me. Does it break into buckets? Is it just the way you see the world?

[A]

It does. I'm not talking about the average price per square foot in your neighborhood. I'm not talking about what was recently sold or is recently listed. That all comes without even question. If you don't know that, then we've got other things we need to talk about. So it's knowledge about your market, knowledge about the trends of the markets, what has happened 10 years ago, what are the projections from 10 years from now, what are the rates? What makes certain areas valuable over others? What are the schools? I tell people, when they say location, location, location, what does that really mean? Well, it means does it have schools that people can pick both private and public? Does it have a ratings? Does it have an artery that's close to an airport that's going to keep people coming there? Does it have multiple arteries of travel that can take you uptown or downtown for more people having a marketability in that area? What are the municipalities like? What are the features of these areas that are going to stabilize faster and with more longevity than other areas? So it's knowledge of the real boring stuff, right? The analytical stuff that you need to know from this city versus this city, this county versus another county, then you have, you know all of it from a federal standpoint, local and then hyperlocal. So it's that knowledge, but then it's product knowledge. How are you selling a house and you don't understand that product? You wouldn't go to a mechanic that didn't know how to give you an oil change. How are you selling a product? Do you know the difference between casement windows and double hung? Do you know the difference between granites and marbles and quartzites? Do you know the difference between oak wood floor and walnut species? Why is that important? Because those are the things that create value in the home. Those are the differentiators between why this house is priced at X and this house is priced at Y. And as part of what you're doing, you need to be that resource to help educate your clients so that they understand the product that they're buying and they understand the investment that they're making or the things that they're changing. Same things for the mechanicals. Do you understand a roof? Do you understand an H vac? Do you know what a recirc line is? When you go to an inspection and a client is asking you after an inspection what some of this means. If you can't answer, that's a little scary to the consumer who is the person looking to you for guidance. And if you don't know it, you better have what we call the vault, the resource book for people who can have that. So it's knowledge of having people that are providers to you that in things you don't know. It's knowledge about the market, it's knowledge about the trends, and it's knowledge even about the paperwork and the documentation. And can you read your purchase agreements? Do you understand why we're signing These things. Are you offering all this? So when you're getting started understanding all of the facets, and I required everybody who's on my team to have this knowledge, and then lead generating becomes nothing more than a conversation.

[B]

Unpack that idea for me in your mind first. You get an extreme amount of knowledge that naturally leads you to sounding more like a professional during discussions. And you're calling that lead gen. That's exactly right.

[A]

How about I've never bought leads? How about I just started sending out a couple postcards, really? Because we're looking for more inventory. Lead generation is about, in my opinion, and there's a lot of people who disagree with me because it works for them and there's no one size fits all right? You got to do what feels authentic to you. Knowledge is what feels authentic to me as a teacher. So, yes, lead generation to me is nothing more than a conversation. If you really understand your industry, you should be ready for what I call the pop quiz. Anywhere you go, you're at the gas station, you're at yoga, you're getting a coffee, and all you've got to do is say real estate. 10 heads will turn around. I mean, say that in an airplane. It's hysterical. People want to talk about it. But the worst thing that happens is when you're trying to lead generate or you're trying to capture a potential buyer or seller and they ask you a question and you can't answer it with knowledge and professionalism, you've lost that lead. Most importantly, you've lost credibility. And you're not going to know everything because it changes. But knowing the majority is being open to having a conversation that impresses the person on the other side enough to remember you, for you to make an impact, for you to make an impression. And it may turn out that it's an immediate turnaround. It might be something they remember years later. They're seeing you do this or you do this for my friend. And they've come back because it was about the knowledge and the opportunity that I was able to give them as a strategist and a consultant. I am not a salesperson.

[B]

That is so good. Gary Keller. And by the way, Gary Keller, in case you're new to the show, he wrote the book the Millionaire Real Estate Agent along with Jay Papasan and Dave Jinx. And he always makes that distinction, Rene. He always says, we're not salespeople. We are professionals, we are consultants, we are fiduciary, and there's a giant difference.

[A]

The money will come if the relationship Is built. If people look to you as a resource, as someone who is helping to guide one of the largest decisions they will make in their life, help them to strategize if they're in a particular circumstance, a divorce, a financial issue, whatever it is. You start as a consultant. You then design a strategy with them for them. You build the trust and relationship to help guide them through a very serious decision in their life. And the compensation is something that people will find you won't fight over because they understand that you're there not as a transactional person, but there for the long run and after.

[B]

I love that. So if step one is gain the knowledge, and we broke that into a series of buckets, we have the market, we have trends, we had schools, an area, we have the product, which is houses itself and your depth of knowledge. We had the paperwork, the actual business. And step two is have real estate conversations. We just do the pop quiz and simply talk real estate with as many people as you can. Is step three follow up with the people that you've met.

[A]

That's constant and that never stops.

[B]

Walk me through that. Because everyone always likes to say, well, I follow up with people all the time. But I think that in order to do the volume of business that you're are doing, you probably have some pretty powerful touches. Like you have to have a system around that, right?

[A]

Yes, there are systems. And believe it or not, my houses are one of them. It's kind of ironic that I will hold my houses open once they're completed for local charities. So it's again providing credibility behind what we do. There's a huge community asset to it. We do a lot with the community. The company as a whole does. We do on my team as well. But that is really understanding that the community sees you again, as a value resource or valuable resource and not just somebody who's there to post signs in their neighborhood and, you know, hope that they get money out of that. It's really a bigger picture.

[B]

I love that. It makes perfect sense.

[A]

The community sees you as trying to give back as well. So that's a touch that people don't always recognize. But then beyond that, there's the more obvious, the calling. We have marketing that we do. We do a ton of social media, which is the easiest way to get to people. So social media, print media. But then there's the conversation touches that my team actually allocates time every week to reaching out to our clients and just seeing what's going on. How can we help you? Is there anything Happening, just touching base. And then there's the community outreach that we do through the community so that people see us in a different light. And we do events typically about four times a year. And our big one is usually a gathering in my home where I have a holiday party and we invite people into my home instead of, you know, maybe sending them a candle or a bottle of wine, come to my home, you know, share a glass of wine with me and become part of our family. And it's a win, win opportunity because not only do you have the before, during and after opportunity to connect and touch, but now those people become your ambassadors. I'm one person. My team is 10. If we each call 10 people a day, we wouldn't even get through everybody. When you are dealing with clients whose takeaway is so profoundly satisfied and happy with the service that you've provided them, that you've helped them get you saved money on something or connected them with a great mortgage lender or a wonderful designer, or done something outside of the normal box that you've really created that relationship, they are your lead generators. They are the people who are out there pounding the payment and then they see your name or there's a conversation that comes up at dinner and hey, I'm looking for a realtor. Ugh. You have to talk to Renee and her team. Every one sale should turn into three minimum or five, because they're talking you up to their friends and family. And all of this culminates as part of that ongoing relationship. And you have to be able to provide the service to continually back that up.

[B]

This idea of they're not in my database, but they are advocates for me is a big idea. If you haven't listened to our episode with Brittany Hodak, she wrote the book Super Fans. She helped Taylor Swift with this. And this was her concept, which is the idea of passive fans is dead. Active fans. That's where it's all headed. I love that you said that. Okay, now we're switching gears. You're about to get a second model. Rene is about to make the argument that investing in real estate is a no brainer for a real estate agent. I mean, duh, yes, absolutely. You know, what happens is we get into the industry and then people forget what the ultimate opportunity, opportunity of the industry was. Gary Keller told me that the opportunity of the industry is three things in order. Number one, I become a real estate agent and I have a sales career. Number two, I turn that sales career into a sales business. This is done by adding leverage into your Life. And that can get absolutely huge. And then number three, I use the cash that I make helping people buy and sell houses to buy assets that both go up in value and throw off positive cash flow. That's how I create wealth. Friends bucket number three is all about buying real estate. And I believe that more real estate agents should own more investment real estate. Hang on, because you're about to get a model on how to do just that. Let me switch gears. Do you move 25 times in 20 years? And I remember you mentioning this to me years ago. I was shocked. I said, oh my gosh, is that crazy? And you kind of looked at me and said, well, wait a second, Jason. You're a real estate agent. Building a home and living in it, or buying a home and renovating it and then raising its value and selling it literally should be what you do for a living. There's your real estate business. And then there's can I make money the way that I live? I had never thought of that before. Here's my question. I totally understand a real estate agent who goes and finds an amazing deal on a lot, builds a house and sells it. I get that. I also totally understand the real estate agent who finds a home that it's in need of love, renovates it completely, makes it gorgeous, and sells a flip. I totally get that. Here's what I don't understand. Why do you move into all of them?

[A]

Great question, Jason. So it started going back to the situation with my daughter. My husband and I had bought a rental property. Well, when she got sick, it was 2005. So three years later, we know what happened. I couldn't sell this lot. We had no money, it was upside down. I couldn't sell this rental. We were in over our head on it. So I literally built my way out of it, borrowed money through the plans, built it myself. Well, I had help with, with several of my wonderful builders that I've been working with. But essentially I was the gc. And when I recognized what I then went to sell it, what the profit margin was and if I lived there for two years, what the tax savings was. Because now you're a homesteaded property for two years and you saved $500,000 as a couple. And I went, hang on a minute, let me think about that. So we sold it. Ultimately, it was these big chunks of change, this, you know, significant hundreds of thousands of dollars that was able to chip at what was almost a seven digit debt. The big key that I realized was that when I was building these for myself, I was able to put more money and do things that were a little more risky. I pushed the envelope. From a design standpoint, I pushed the envelope. They didn't feel specky because they weren't. They were built for me, by me, for my family. I thought through so many details of these homes that people felt like they were really buying it, which they were. And they are a very custom home. And the one thing I still can't do is I can't time it right. And so in between, you'd have these three month gaps. I would buy a rental property or I buy something instead of renting, because you can't rent for three months. So I'd buy something. And so accidentally what happened is I have several rental properties that I own and I have these several larger homes that I've sold. And it created this real estate portfolio that was totally accidental. It was completely accidental.

[B]

It's so good, because if there's a model here, it's build a house or renovate a house, spend two years in, one day in it, sell it so that it's long term capital gains, not short term. Shield up to $500,000 for a married couple off your federal taxes, rinse and repeat. And if you do that five times over 10 years, you're liable to have another two, three, four million dollars in the bank.

[A]

And then you take that money and you reallocate it. That's exactly what we did lived there for. And some of them were literally two years and two days. I mean, they were just over that. And I look for three things. I look for my rentals. Can I rent them? Are they good value? Can I build out of that? Is the property of value where if the house is not any longer than the value, but the building around it is better? Or can I renovate it and get a return on it? Because what I learned was that as the market changes, you want to have flexibility with each of these properties to be able to shift during whatever market of the minute we're dealing with.

[B]

There it is, friends. It is not going to be any better than that. Rene, I want to switch gears again. There was a philosopher named EPI Kouros, and he bought this amazing villa in downtown Athens, which is this bustling city. And he built a beautiful garden. And while the philosophers of his time were busy teaching to large groups, he invited small groups of friends into his garden to talk about life's biggest questions. We would like to invite you into our garden. Will you join us?

[A]

Happily, but a little nervously. So go Ahead.

[B]

You faced potential tragedy early on with your second child as you came out of that, because so many of us have children. How did it change the way that you thought about your time with your kids? And did you put any rituals in to make sure that you were spending that time with them?

[A]

What it changed for me and my family was I didn't have the money to do this, but I believed as a human and as a history teacher that the world is so beautiful and it's so much to see and learn. I started taking my family to Europe when they were 8, 9 years old. And I take a commission every year, no matter what was going on. And I put aside, and I would always write out what it was and what the goal was. And I, of course, pay off debt, but I take money not to wait for one day, not wait for when everything was paid and everything was in a perfect place and when it made sense. And I got so much pushback, Jason, from my own family members, my mom, my dad, they're taking them at eight years old and see, you know, blah, blah, blah, blah. They're never even going to remember. And I said, you know what? Whether they remember or not, I will remember and I will know that they have smelled the arrow France. They have touched things that one day might not be there or that they'll never have the opportunity to do, and that I have been able to see it through their eyes. So every year for 15 years or however long, I don't even know how long I've been doing this, we would take a holiday and spend these really important times, whether I could afford it, you know, realistically or not, and we would do this. And it was a game changer in their life. It was. It's been a game changer in mind. They've seen the world in a relation that they might not ever have had the chance to see. They've studied abroad, and they continue to recognize what a big world this is and how many beautiful things there are to see and enjoy and taken pleasure in seeing. The arts and the food and the music and the artifacts and the human contact and connection with all of these people throughout the world that they might have never had a chance to do. And that has been something we talk about as a family. There are things to be celebrated even in the darkest moments. And we've had a lot of fun and a lot of fantastic memories that financially I was able to now afford. Wouldn't give a second of my daughter's pain and suffering for it, ever. But if you're going to make or try to find a silver lining. We've all seen the strength in her especially and in all of us that we've had to take us through to where we are today.

[B]

That's beautiful. There's an old saying that if you are looking for a good old boys network, start with builders. And you are a powerful woman business owner. Have you had to break through any sort of glass ceilings because of that? And how, and what advice would you give to the, the people coming behind you?

[A]

Yeah, I have and I still do. It's shocking. It's actually shocking. And listen, they see a female coming in, typically I'm wearing high heels. You know how I dress. I'm in high heels and my big hoop earrings or whatever and I walk in, it's still this day. It's funny, they look at you like you don't know what you're talking about until you throw at them. Oh, hey, you know what? That lvl probably shouldn't be over that window. It should be another 6 inches because of the trusses on the right and.

[B]

They stop and they're like back to knowledge.

[A]

It goes back to that. There's always challenges. Knowledge will always be your power tool. It'll always be your superpower. So the way you undo it, you know, I ignore stupidity. I ignore ignorance. It's my approach. I just pretend it's, you know, wave it off. Unless of course it's something that was really is, is really inappropriate. But for the most part, I ignore their lack of intelligence. And I just struck mine.

[B]

Final question for me, your kids, because of the success that you and your husband have had, are growing up differently than you grew up. Are you purposeful about keeping them grounded? And is there any advice you could give the rest of us?

[A]

I absolutely am. I can tell you that my biggest goal, no matter what success I ever found in life, was always the success of my children. And I don't mean financial success because that doesn't matter as much to me. Of course I want them to be independent and financially independent. But my goal was always, and I say it all the time, I want really good humans. I want good people. I want children who see other people, who see their struggles, who see what they can do for the world, who are recognized as really great people because it's with your heart that to me all other things are paid. And if you don't have a great heart and really true spirit, any other success is just filling a void that you'll never ever, ever be able to sustain.

[B]

Drop the mic. It's not, it's not. You don't even. It's not going to get any. If you could see the look on her face when she talks about her children. It is the most beautiful, soothing, warm smile. Renee, thank you so much for sharing with us. Thank you for everything you're doing for the real estate industry. And on a personal note, having driven by the signs a million times and getting to know you somewhat personally over the years, this is such an honor for me.

[A]

Thank you for doing this likewise and thank you.

[B]

There it is, friends. You know what she does? She makes it sound so simple and it is in some ways, but she just makes it sound like part of life when she says, I'm just out and I talk about real estate everywhere. That's exactly right. She wakes up every day not wanting to be a real estate agent, but she is a real estate agent. It's her identity. She looked up and chose a niche. Then she said, in order to serve this niche, I need to get wildly educated. She thinks all of us should be wildly educated on what matters in the markets that we serve and then the materials that go into the asset that people are buying. Then number two, number two, simply have real estate conversations. These happen to her all the time. But you know what she does? Almost instinctively, she invites them. She says, if you're standing in line at Starbucks and you mention real estate, ten heads turn around. But how many of you don't mention real estate in the line at Starbucks? She does. She's naturally excited about the industry that she chose. And then follow up, whether it's at charity events or having people over to her home, or simply the way that she markets her listing, she is known for real estate in her town. And then I love how she switches gears and says, you know, I made a bunch of money helping people. Now I've made millions of dollars moving 20 plus times. Friends, I'm a realist. I get it. Most of you are not going to move 20 plus times. As a matter of fact, when you talk to Renee, she told me that she moved three times on the same street, once over a six year period, that it became a joke with her post person. I get it. I'm not asking you to move 20 times. I am asking you to look up and simply ask the question, is the primary residence that you're living in potentially a vehicle two years and one day later to make up to half a million dollars tax protected? And if you did that four or five times over the career, would you have another million 2 million, $3 million in the bank. Friends, think about it. At the end of the day, here's what I know. Renee is clear on three things. Number one, she loves real estate. Number two, she's wildly professional about it. And number three, if there's a way to make money doing it, she's gonna find it, go forth and do likewise. There it is. That wraps another episode. Friends, I don't know what you're taking out of this. I really don't. I'll tell you what I want you to be taking out of it, which is these are the people that are having tremendously big lives. And the reason it's happening is because they're setting up the models and systems to do just that. Gary Keller told me that leadership is teaching people how to think so that they do the things they need to do when they need to do them, so that ultimately they get the things they want when they want to have them. And that's what I want for you. You're all leaders, but it begins with leading ourselves. If you're enjoying this podcast, I want you to click the subscribe button anywhere that you get your podcasts. We want to be the voice in your head every single week. And every week we're dropping new content. We also send out a newsletter at the conclusion of every show to make sure that you get the highest points in the models and systems that were discussed. So if you want to sign up, I need your name and your email address. Head over to themillionaire agent podcast.com millionaire agent podcast.com enter your name and your email address, and every week that newsletter will be in your box. Friends, you just went on a journey. I hope that what happens between now and the next time we meet is at absolutely wonderful for you. Thanks for listening. I'll see you next week. This podcast is for general informational purposes only. The views, thoughts and opinions of the guest represent those of the guest and not KWRI and its affiliates, and should not be construed as financial, economic, legal, tax, or other advice. This podcast is provided without any warranty or guarantee of its accuracy, completeness, timeliness, or results from using the information.