As a seasoned property manager and real estate investor, Jennice Doty is hands down an expert in her field. Along with her investment partner Steve Chader, she has built a successful career providing management services to more than 1,000 residential homes and 35 commercial properties. Yet, she credits her success in real estate to the talented people who surround her in business and in life. Without the right people, Jennice wouldn’t be able to accomplish much of what she does, and it is that level of leverage, she says, that is often underestimated in the pursuit of success. We recently sat down with Jennice to learn more about how she accomplishes her goals and how that drove her involvement in the creation of HOLD.
KellerINK Team: Congratulations on your “new author” status! What made you decide to get involved in writing HOLD?
Jennice: I have been so blessed to have others share opportunities with me and I really want to “pay it forward.” I knew we could reach more people through a book than talking with people one on one. This book is a great way to share with others the process of acquiring and managing a real estate investment, and to let them know that it is truly easier than most people think!
KellerINK Team: Where did you learn about investing?
Jennice: I learned most of it from my business partner (and fellow co-author), Steve Chader. He owned investments himself and held seminars to help his clients learn how to invest. I also read a lot of books. And my property management business has been a great teacher. By managing several hundred investment properties for others, I learn more about it every single day!
KellerINK Team: Why do you recommend real estate as a way to build wealth?
Jennice: Where else can you invest money, get a high rate of return, have a tenant pay down your debt, write off expenses, depreciate over 27 and a half years, exchange it for more properties, and some day own it free and clear and have cash flow? Personally, I still want to acquire more properties and I wish I would have started sooner.
KellerINK Team: Your strategy for building wealth through real estate hasn’t changed much over the years. Can you tell us about a successful long-term investment you own?
Jennice: A couple of the residential properties that I own I have had for many years. My goal has always been to hold the properties long term – and I wouldn’t do anything differently now. I didn’t overextend and take any of the equity out of them when the value of the properties skyrocketed in Arizona. The rent stayed fairly stable and they continued to perform. I’ve found that slow and steady wins the race!
KellerINK Team: What is one piece of advice you can share with long-term investors?
Jennice: My advice would be to stick with your strategy. Don’t panic, even if the market or the economy changes. There will always be tenants needing to rent. Even if rents are low, they will come back and, over time, your investment will pay off.
KellerINK Team: Now for the hard-hitters. Tell us about your dream house.
Jennice: Well, it should be no surprise that I would have more than one! It would definitely be open and overlooking an ocean. Being from New Mexico and then Arizona, we don’t see much of the ocean from our views!
KellerINK Team: Let’s discuss superheroes and who you’d want to be.
Jennice: I think it would be so cool to be like Samantha, the good witch! She could just twitch her nose and “poof,” someone would turn into a frog! I would have to limit my daily magic though.
KellerINK Team: As an author, we’d love to get your thoughts on books too. What’s the last book you’ve read?
Jennice: I am re-reading Good to Great by Jim Collins. You can use it as a workbook and apply the principles to any business.
What questions or comments do you have for Jennice? Let us know below! And stay tuned next week for our final interview with HOLD author Jim McKissack!