Ep. 77: Helping Women Build Wealth Through Real Estate with Monick Halm

Monick Halm’s Haitian parents taught her to get a good job as either a doctor, lawyer, professor or engineer. She chose law and it wasn’t until she went to purchase her own home in Los Angeles that she started learning about real estate investing. She ended up house-hacking with a friend and realized the advantages to creating passive income. Then she met a mentor who introduced her to apartment syndication, acquiring over 1,000 units in 1 year! However, she realized there weren’t many women investors, so she made it her mission to educate women about real estate investing. She started an online community, a podcast and authored a book targeted to women investors. Monick joined us to share why everyone benefits women need to be rich. She also shares about the criteria of a good market, the market cycle, choosing the right team and leveraging other people’s money.

Key Market Insights:

Real estate investor, syndicator and developer
Host of Real Estate Investor Goddesses
Founder of Real Estate Investor Goddesses online community
Former lawyer who realized that she needed a home
Bought a duplex, and became an accidental landlord
Mentored by Robert Helms, and was introduced to leveraging OPM (Other People’s Money)
Attended a syndication seminar, and end up acquiring over a thousand units within a year
Key Differences between Women and Men Investors: Men are confident, treat money as a game; Women are more cautious, take measured risks
Women tend to be more successful investors and are more concerned with what their money will do and how it will help others
Passion project - educate one million women investors
Successfully hosted her first 3-day conference, Wealth Through Real Estate, geared towards new women investors
7 Criteria of a Good Market: Landlord and business-friendly; Low to medium housing cost; High job and population growth; Diversified local economies; Right submarket; Right market cycle; Familiarity
The Market Cycle: Rising, Booming, Downturning, and Stabilized
Investor Tip: People first approach before the number. Build the right team.
3 C’s in Choosing the Right Team: Character (high integrity), Commitment (long-term relationship), Capacity (skills)
Established a brand, and started educating women about real estate