RG 094 – Always be Willing to Change YOUR Investing Mindset with Kira Golden
- Kira is the CEO for Direct Source Wealth
- Kira has lived and invested in France
- Her company helps clients with passive investment
Nuts and Bolts
Kira is the CEO of Direct Source Wealth, a multi family syndication firm that helps investors with passive income and low fees. Kira became interested in real estate after reading Richard Kiwesake and seeing him in an infomercial about making your money work for you. All of this made sense to her however she was under 18 years old and so needed to raise some capital first. She worked many different jobs trying to raise the money she needed for investment and after high school she jumped straight in. At first she was California based but after that became too expensive she bought in Arizona and the income from the real estate covered her college expenses.
While at university and grad school she invested using the singlefamily model however after she moved to DC she changed her strategy. The market was booming in DC and so she would buy a condo while it was being built for $200,000 and sell the option by the time it was built. She tried to target one house a year however this wasn’t as smooth as anticipated so she looked into parallel opportunities. In 2006 she moved abroad and invested in Europe to protect herself against the financial crash. She moved back to the US and started investing again in 2010 doing fix and flips.
Kira feels that in the current climate there are many parallels to be found with 2006. Although when people talk about real estate and a potential crash they miss an important part of the conversation, which is what’s happening with lender and capital policies, this is the cheap debt that fuels the economy. Instead people spend more time talking about equity and finding deals, but these only come when you have strong lending partners. In 2006 lenders were making blanket US policies and it didn’t matter if you were in Kansas or LA. Now they are looking at underlying economics and learning from the last time. This will help protect most people and force out the buyers who only buy because they have cash and haven’t thought through the process.
Kira attracts capital by making the effort to fly and meet people in person. While on these flights recently she has ben 2 of the latest large investors on Southwest Airlines! She works with current and new clients to build relationships face to face. She also hosts dinners with a current client and their friends who could be potential new clients. She does these targeting dinners once a month. She’s also cautious with the deals and doesn’t go around doing loads. She prefers to do things like podcasts etc and show per personality and then meet face to face and make a relationship before a deal even starts. She tries to not be a faceless entity that just takes fees. In the future she aims to keep doing much of the same, she isn’t aiming to be bought out and live on a beach and wants to stay representing the individuals at the table with larger representatives.
- Most important habit – Meditation
- Most influential person – Her professor in Grad School
- Most important tool – The Aeroplane to travel and visit clients
- Most important failure – Saying something that she shouldn’t have said by accident, taught her to always keep check on what she says.
- Contact – directfirstwealth.com