Feb 11, 2021
Palak Shah is the founder and owner of Open Spaces Capital that generates over $1M in revenue and Open Spaces Portfolio Program - with over 100 graduates that have created millions of dollars in equity in just one year. An Engineer by trade, after the birth of her two kids she decided to make the move to entrepreneurship to be able to spend more time with her children. She brought her knowledge and 17 years of experience in building systems, processes and scaling from her corporate career in engineering leadership to fast track her real estate investing journey. In her first two years investing full-time, she purchased, renovated, rented, and refinanced properties creating a $4M rental portfolio. It is now her passion to empower other investors to pursue entrepreneurship through real estate investing to live an empowered and financially free life without taking undue risks or over-leveraging through her coaching program at Open Spaces Portfolio Program. Follow her on Instagram @openspaceswomen for tips and motivation for building and scaling your buy and hold portfolio.
In this episode, Karen and Palak discuss:
- Success Story of Palak
- Commit to Get Leads
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- Follow the 3 S Framework - Small, Simple, Scalable. Define your property avatar and be very specific about that avatar to those you are making connections with.
- Consult to Sell
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- Do not outsource deal analysis or finance. You need to understand all aspects of these aspects of your business.
- Connect to Build and Grow
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- Put systems and processes in place, with checks and balances, so that you do not need to be directly involved in every aspect of your rentals.
- Success Thinking, Activities and Vision
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- It's important to pick your strategy before tactics. Define the kind of strategy you want to go after and then implement the systems that you want in place.
- Sweet Spot of Success
"Having a clear vision allowed me to make strategic decisions to be able to use my time more strategically than I would have otherwise if I wasn't so concerned about the kind of vision I wanted for the future.” - Palak Shah
*5 Minute Success - Listener Giveaway*
Go to www.openspaceswomen.com/ebook to receive your FREE E-book on how to get out of analysis paralysis and invest now!
Connect with Palak Shah:
Website: openspaceswomen.com/bookacall
Instagram: instagram.com/openspaceswomen
About the Podcast
Join host Karen Briscoe each week to learn how you can achieve success at a higher level by investing just 5 minutes a day! Tune in to hear powerful, inspirational success stories and expert insights from entrepreneurs, business owners, industry leaders, and real estate agents that will transform your business and life. Karen shares a-ha moments that have shaped her career and discusses key concepts from her book Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed.
Here’s to your success in business and in life!
Connect with Karen Briscoe:
Twitter: @5MinuteSuccess
Facebook: 5MinuteSuccess
Website: 5MinuteSuccess.com
Email: Karen@5MinuteSuccess.com
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