We caught up with the brilliant and insightful Lana Spencer a few weeks ago and have shared our conversation below.

Lana, appreciate you joining us today. So, let’s start with a hypothetical – what would you change about the educational system?

I believe today’s education system misses the mark on what I’d call “life education”—the essential knowledge that truly prepares students for financial stability and success in adulthood. Schools focus heavily on traditional academics but often neglect critical subjects like investments, assets vs. liabilities, business ownership, tax strategies, and the power of compounding interest. Basic accounting and investment strategies should be just as fundamental as math and science because they directly impact a person’s ability to build wealth and make informed financial decisions.

I grew up in a household where I was never taught about money or personal finances, which sent me into the world completely unprepared to succeed. When I became an adult, I had to learn everything as I went along—often through trial and error. That meant making a lot of financial mistakes, from mismanaging credit to not understanding the importance of investing early. These setbacks created a longer, more difficult road to success, and looking back, I realize how much easier things could have been if I had been taught the fundamentals of financial literacy in school.

Imagine if students graduated already knowing how to budget, invest, and leverage financial strategies to build wealth. Instead of struggling to figure it out later in life, they’d be equipped to make smart money decisions from the start. The lack of financial education in schools doesn’t just impact individuals—it keeps generations stuck in cycles of financial instability. This is why I believe life education, including financial literacy, should be a core part of the curriculum.

As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?

I was born and raised in Minnesota by my mother and with my two brothers. Though my childhood was full of love and amazing memories, it was also marked by struggle. My mother often worked multiple jobs to support us, leaving me and my older brother to care for ourselves and our younger brother. I watched her fight to make ends meet and knew from an early age that I wanted to break that cycle.

My mother raised us with an incredible work ethic, but without a strong understanding of finances and how money works, it was hard to escape the grip of poverty. One thing she always instilled in us was a deep love of learning and the belief that knowledge is power. The path to truly understanding money took me longer than I had hoped, as I was still coping with life’s challenges, but eventually, I learned enough to see that most really successful people were business owners, not just employees. So, in my late 30s, when I finally had the opportunity to take more risks, I jumped into real estate.

I started my real estate journey by buying raw land and building tiny homes to use as Airbnbs. It was a true learning experience—full of trial and error. Through the process, I picked up hands-on skills, from plumbing an entire house to building a kitchen from scratch. While I no longer construct the homes myself, I focus on curating properties that offer experiences of peace and tranquility. That’s why my rentals are located in rural areas near large bodies of water, surrounded by outdoor activities. At the same time, I ensure convenience by positioning them within a 10-15 minute drive of grocery stores and essential amenities. Additionally, I strategically place some properties near casinos, providing guests with entertainment options and benefiting from increased traffic when local events cause hotels to sell out.

Beyond real estate, I also run Let Me Assist, a thriving virtual assistant (VA) business. Before launching this venture, I spent 16 years as an executive assistant, which allowed me to bring my VA clients a wealth of high-level administrative expertise. With my background, I’ve built Let Me Assist into a service that goes beyond basic tasks—we provide exceptional support that enables business owners to focus on strategy while we handle operations.

This business started when I was laid off during COVID—I needed a way to support my family while staying home. What started as a necessity quickly grew beyond my expectations. I found my first clients on platforms like Fiverr, Upwork, and LinkedIn, and demand skyrocketed so much that I had to bring on staff to manage the workload. Now, my team of VAs at Let Me Assist handles daily operations while I focus on growth.

What sets me apart in both industries is my ability to create opportunities—not just for myself, but for others. In real estate, I design unique stays that blend nature, relaxation, and accessibility. In business, I provide entrepreneurs with high-quality virtual support, helping them scale their own ventures. I take pride in the fact that both of my businesses were built from the ground up through resilience, adaptability, and a willingness to learn.

For anyone considering working with me—whether as a guest in one of my properties or as a client of Let Me Assist—I want you to know that I prioritize quality, experience, and efficiency. My goal is to create value, whether that means offering a peaceful retreat or helping businesses run more smoothly.

How did you put together the initial capital you needed to start your business?

When I decided to go into real estate, I knew from the start that I wanted to focus on short-term rentals. However, I also knew that financing options were limited, and I would have to rely on my own credit and personal funds to bring my vision to life. While I was able to secure financing for the land itself, all of the development costs—from infrastructure to construction—fell on me.

To make it happen, I worked multiple jobs simultaneously to build capital, maxed out all of my credit cards, and financed anything I possibly could, including some of the contractor work. Every available resource went into this project, and I was determined to see it through no matter what.

With the help of friends and family, I took on as much of the labor as possible, which meant countless weekends spent on-site, working long hours to push the project forward. There were significant challenges along the way—material shortages, contractor delays, and unexpected costs that stretched my budget to its absolute limits. By the end, I was nearly maxed out financially, physically, and mentally.

But I never lost sight of my goal. Despite every obstacle, I completed the project, having invested everything I had. And looking back, I wouldn’t change a thing. Taking that risk was one of the best decisions I ever made.

Once the property was completed and generating income, I did a cash-out refinance, which allowed me to pay myself back for some of the costs I had fronted. That moment was a turning point—it reinforced the power of real estate investment and financial strategy. What started as a leap of faith turned into a sustainable business model, proving that with resilience and smart planning, even the biggest risks can pay off.

Now, after going through that experience, I’ve learned there are much smarter ways to fund real estate projects. I understand the power of OPM (Other People’s Money) and how to leverage private money lenders, partnerships, and creative financing to scale without taking on all the risk myself. If I had known then what I know now, I wouldn’t have had to deplete my own resources so drastically. But that journey taught me valuable lessons that I now use to continue expanding my portfolio in a way that is both sustainable and strategic.

Can you tell us about what’s worked well for you in terms of growing your clientele?

For my VA business, Let Me Assist, the most effective strategies for growing my clientele have been word of mouth and social media. Satisfied clients naturally refer others to my services, and I’ve found that personal recommendations carry a lot of weight in this industry. To encourage even more organic growth, I offer referral bonuses to existing clients, which has helped build a strong network of recurring and new business.

Social media has also played a key role in attracting clients. Platforms like LinkedIn, Instagram, and Facebook allow me to showcase the value my team provides, share client success stories, and connect with business owners who need high-level virtual support. By consistently demonstrating expertise, reliability, and efficiency, I’ve been able to build trust and credibility with potential clients before they even reach out.

Ultimately, my best marketing tool has been delivering exceptional service. When clients see how much time and stress we take off their plates, they naturally want to recommend Let Me Assist to others. That combination of quality service, strategic networking, and incentives for referrals has been the foundation of my business growth.

Contact Info:

• Website: https://www.airbnb.com/l/8XUOuxDo
• Instagram: https://www.instagram.com/cubanalana?igsh=eGhleHZkZ21qZ3Rr&utm_source=qr
• Facebook: https://www.facebook.com/share/162JDzGhXR/?mibextid=wwXIfr