How a Real Estate Investor Built Her Empire Through Probate Deals with Barbara Barnes
“One way to keep momentum going is to have constantly greater goals.”
Michael Korda, Editor-in-chief of Simon & Schuster
In this episode of the REI Hacker podcast, Barbara Barnes, a real estate investor and broker based in Washington, DC, shares her transformative journey from a corporate job to establishing a successful career in real estate. With a focus on the probate niche, Barbara discusses how she turned her unique approach into a thriving business, along with her transition into coaching other real estate professionals. Here’s a breakdown of her story and the valuable advice she has for those looking to succeed in the industry.
From Corporate America to Real Estate
Barbara started her career working at the Consumer Financial Protection Bureau, but a personal milestone at 24 set her on a different path. After buying her first home, she realized her passion for real estate and went on to earn her real estate license at 25. By 26, she left her stable government job to go all-in on real estate—a move that required a big leap of faith but ultimately led her to discover her unique niche.
First Experiences in Real Estate and Entry into Probate Deals
Starting out in real estate, Barbara was determined to learn every aspect of the business, from cold calling to wholesaling. She was introduced to the probate sector by a colleague, and within four months, she completed her first probate wholesale deal, earning $20,000. This experience cemented her belief in the potential of the probate niche, which she describes as a “recession-proof” part of real estate. By focusing on probate, Barbara found a steady flow of opportunities that were often overlooked by other investors.
Overcoming Challenges and Building a Success Mindset
Barbara’s path wasn’t without its challenges. As a young, minority woman and mother, she faced numerous obstacles. However, she attributes her success to a strong sense of self-belief, spirituality, and a determined mindset that helped her persevere. Her early experiences instilled an entrepreneurial spirit that carried her through the tough times, ultimately leading her to quit her job and pursue real estate full-time.
Understanding the Probate Niche in Real Estate
Probate real estate involves properties that go through a court-administered process following the owner’s death. For investors like Barbara, the probate process offers unique opportunities and challenges, such as working with properties that may need extensive repairs or dealing with families navigating complex emotional situations. Barbara explains that a patient, compassionate approach is essential to navigating these sensitive transactions and finding solutions that benefit all parties.
Investing in Multi-Family Properties and Future Goals
In terms of investment strategy, Barbara favors multi-family properties over single-family homes, aiming to acquire at least 100 doors. She sees multi-family investments as a better opportunity for scaling due to economies of scale and reduced vacancy risks. With this focus, she’s building her portfolio strategically to ensure long-term, sustainable growth.
Coaching and Training Programs for Real Estate Professionals
Beyond her investment career, Barbara has expanded into coaching and training, helping other real estate professionals excel in the probate niche. Her certification program, the Certified Probate Real Estate Expert, provides realtors with the tools and insights needed to specialize in probate transactions. In her coaching, Barbara emphasizes the importance of self-awareness, confidence, and understanding how to convey value to clients.
Barbara’s Advice for Aspiring Real Estate Investors
Barbara’s story is a testament to the power of perseverance, adaptability, and a niche-focused strategy. For those starting out, she offers these key takeaways:
Believe in Yourself: Self-confidence is essential in overcoming challenges and building a successful career.
Be Willing to Learn: Whether it’s cold calling, wholesaling, or navigating probate, Barbara believes continuous learning is a key to growth.
Find Your Niche: Probate is one example of a niche that’s often overlooked but can offer steady opportunities.
Think Long-Term: Invest with a focus on scale and sustainability; multi-family properties often provide a more reliable income stream than single-family homes.
Give Back: Through her coaching, Barbara is committed to helping others achieve financial success by sharing her knowledge and experience.
Barbara Barnes’ journey from corporate America to real estate success is a powerful reminder of what’s possible with self-belief, persistence, and a strategic approach. By focusing on a niche like probate, Barbara turned overlooked opportunities into the foundation of her real estate empire, proving that a clear vision and commitment can make all the difference. For anyone starting out or looking to scale in real estate, her story is a call to action: embrace continuous learning, carve out your own path, and approach each step with confidence and compassion. With these principles, success isn’t just possible—it’s inevitable.
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