From Generational Poverty to Generational Properties | The Power of Real Estate Restoration With Kim McFaline

The Problem...

Many people get into real estate thinking they can just "fix and flip" a property for a quick profit, often doing the bare minimum. This approach can be harmful, as it can lead to bigger problems for the new homeowner and ignores the rich history and emotional value a home holds for a family. Another common problem is the struggle to shift from generational poverty to generational wealth, often using inherited money on liabilities rather than assets.

The Reality...

The "fix and flip" mindset can be disrespectful to the home and its previous owners. It ignores the home's history and the families who lived there for generations. Furthermore, it creates a lack of integrity in the business. The journey to building real wealth is not about quick, short-term transactions but about creating long-term assets and freedom. This requires a deeper, more personal investment in both yourself and your properties.

The Solution and How To Solve The Problem...

The solution is to adopt a "restoration" mindset for both your properties and your personal life.

1. Invest in Yourself: Kim's story shows that personal healing and self-work are crucial. She invested in therapy and recovery to turn herself from a "liability" into an "asset." This personal restoration gives her the vision and courage to restore distressed homes.
2. Focus on Restoration, Not Flipping: Instead of fixing and flipping, Kim restores homes with historical significance. She connects with the owners, learns the home's story, and brings it back to life while preserving its character. This approach is rooted in integrity and a long-term vision.
3. Build the Right Team: When investing out of state, it is essential to build a team with aligned values and morals. Kim emphasizes the importance of communication, transparency, and trust with her project manager and general contractor to ensure projects are done with integrity and quality.

Kim's journey from generational poverty to "generational properties" is a powerful message. It shows how personal growth and a deep sense of purpose can transform your business.

What are your thoughts on shifting from a "fix and flip" to a "restoration" mindset? To learn more about Kim's restoration process and her women's Zoom group, you can visit her website at restoringisourcalling.com!