Deborah Razzo – 20 years entrepreneurship, made her way into real estate 6 years ago. Razzo started her venture into real estate due to a life-changing situation; she was in a car accident that forced her to change her focus. She educated herself on real estate, reading Robert Kiyosaki’s book Rich Dad, Poor Dad, before she took the leap.
Razzo’s core investment philosophy is to flip for capital and to reinvest that capital for long-term wealth; making a bunch of money on first flip started her addiction to house flipping.
Razzo does not flip multiple houses at the same time so that she can be more involved and focused on the house the is her current project and so that she may be more present with the team helping her to flip a home. Holly reminds us that team members always seem to preform better when they are given attention and are reminded that you are watching their progress; Razzo believes it is a tremendous gift to give people your presence and it is a key to her success.
Razzo’s greatest influence is Tony Robbins, he has taught her to live the life that she wants, real estate affords her freedom of her own time allowing her to spend time with her friends and family.
Razzo reminds us that real estate can cause Shiny Object Syndrome, where we want to get into each facet of the business but need to direct our focus so that we can create freedom and success in flipping.
Partnering with a successful flipper is a great opportunity for those that are new to house flipping; Razzo feels that joint ventures help everyone involved because it allows you to see the different flipping styles that different individuals use, it also opens up the door to several different connections and teams used in doing a flip.
Razzo’s biggest lesson learned in her real estate path was knowing when to bow out; do not let commitment keep you in a deal that is causing you to lose money, don’t fall in love with your babies and walk away from a deal that is causing you to lose money. Both Holly and Deborah remind us that it is okay to take a loss but be mindful of your choices and keep moving forward.
Deborah feels that the most rewarding aspect of her career is her freedom of time and the most frustrating part of being an investor is persistent, keeping the focus going on your goal because you can enter a deal that may never make escrow but you need to keep moving forward.
Razzo created Women’s Real Estate Network (WREN) to help surround herself with other women who are successful in real estate and to create a space for her and other women to network in a male dominated profession. You can check out this network at www.WRENinspire.com