Sher Powers - Crazy Sh*t In Real Estate with Leigh Brown - Episode #129

Real estate is not what you ever expected it to be, until you end
up in the middle of something fun. Power-house broker Sher Powers
tells us about the worst experience she ever had viewing an
investor property in Nashville, when she opened the door to
hundreds of cockroaches. Sher has worked in both normal and
investment real estate, and she’s learned to expect the
unexpected. Tune in to find out why Sher values renovations over
resells, and how agents can ensure their clients get the best
market rate for investor properties.


Please subscribe to this podcast in iTunes or in the Podcasts App
on your phone. Never miss a beat from Leigh by visiting The Leigh
Brown Experience. 


Time Stamped Show Notes:


01:06 — Sher’s background and how she got into real estate

01:08 — Started as a real estate investor, buying
property to renovate and resell

01:29 — Hit a snag in partnership and ended up with a
portfolio of 24 rentals and no cash reserves to cover repairs
and tenant needs and make readys

01:45 — Used license to survive – became a realtor

02:08 — Wanted to help new agents and new buyers

02:33 — Specializes in 1st-time buyers and investors who
renovate for re-sell



02:22 — Why doesn’t Sher call them flips

02:58 — “There is nothing flippant or flippy about doing
a full renovation – it’s a lot of work.”

03:44 — Flipping is a quick, non-emotional transaction,
compared to renovation, which is about creating a house that
someone will love

04:08 — 1st-time homebuyers deserve good expectations and
good education



04:15 — Renovations are houses being brought back to life

04:22 — They’re ideal for entry-level buyers

04:30 — Improve neighborhoods one house at a time

04:47 — On seeing the buyer’s response to their renovated
home: “I love the experience; I never get tired of it.”



06:28 — Sher’s CSIRE story

06:35 — Went to Nashville with a client to view an
inexpensive property; the client had to return to the car, so
Sher entered alone

07:00 — “Leigh, I am not exaggerating—I wish I
was—hundreds of cockroaches fell on my head.”

08:11 — Her client got bug spray from the car and sprayed
her with it

08:28 — She still can’t watch Indiana Jones because it
triggers the memory

09:34 — In real estate, you will see hoarders, and you
will see families that live in ways that is heartbreaking

10:11 — “There is a heartache that goes with buying
destitute property.”

11:51 — She never enters a house without using her toe to
push the door open



12:30 — Note for agents to think about

12:44 — Sher once encountered a tenant who did not want
the property shown or sold

13:04 — “He answered the door stark naked.”

13:56 — Encourages her clients to negotiate on the
front-end, where buyers can see the property from the inside
before making an offer

14:34 — If you’re wanting to sell an investment property,
it needs to be vacant

15:42 — Do everything you can to make it easy for the
tenant to say yes



16:31 — Sher’s contact information: Visit her website Urbane
Residential Specialists or Urbane Residential Specialists on
Facebook 



3 Key Points
Renovations are different from resells. Investors should be
prepared for the unexpected when viewing investment property.
Vacant investment property will yield a higher market price than
occupied. 

Credits


Audio Production by Chris Mottram

Show Notes provided by Tara May Flanagan