On the Move; A Millennial’s Life Exposed to Investment Real Estate
When people find out I have an investment real estate portfolio the questions come fast and furious.
Fast and Furious Investment Real Estate Questions:
- How do I get started?
- How can I secure financing?
- What if I don’t have much in the way of downpayment funds?
- Is buying investment real estate different than buying a home?
- And so many more questions.
Over the last several years I have been writing a book to explain the process of purchasing investment real estate. The expectation from publishers is so much different than several years ago.
Publishers expect you to have a strong social media presence.
You need to be more than a writer of a book; you need to blog, podcast, write for magazines, make presentations and speeches.
You need to know your way around Linkedin, Twitter, Facebook, Instagram, other social media platforms and so much more.
All of this strong social media presence is to have a built-in audience before you get a chance to get a book published.
I had to find a method of reaching more than one person at a time. Through a friend, I found a millennial student who wants me to coach him. I am going to take my audience on a journey of purchasing their first investment real estate property through Alex. This why I have named the series of Podcast Shows “On the Move with Alex.”
With Alex’s permission we are going to follow Alex’s investment real estate journey, from graduating in April 2018 to Alex finding his first job; from building his team of investment real estate professionals to making the purchase of his first investment real estate property and starting his investment journey the 4 Door Investment Real Estate Way.
Alex Da Costa is a 25-year-old Edmontonian; born and raised. Alex recently graduated with a finance degree and started a full-time position in May 2018.
What has impressed me about Alex he has managed to amass a substantial amount of savings and investments in a relatively short period. His drive to succeed has helped him to get a great start on building a strong financial foundation. Alex wants to put these funds to work; growth over time to build his investment real estate portfolio.
Alex has always had an interest in investing and as of late has shown a strong attraction to investment real estate.
Alex views real estate as a low to medium investment risk and believes that investment real estate can be leveraged to accomplish many of his financial goals.
Alex hopes to acquire enough investment real estate over the years to create sustainable wealth on a road to gaining financial freedom.
Alex is still living at home, does not own a principal residence or any investment real estate.
Alex mentioned his lack of background regarding investment real estate is hurting his chance to get started.
With my help, Alex has recently finished putting a net worth and income statement together.
As of late, Alex has had several conversations about the real estate economies. Discussions around the increase in interest rates and the previous talk about the tenuous credit situations of Albertans has produced an interest in investment in property to get into the Alberta real estate market while it may be at a “bottom”.
Did we talk about the ideal property for Alex and the why?
Alex feels a duplex/fourplex or bungalow that could be used for both personal habitation and a rental property that could generate cash flow (which would ideally cover expenses). The property would be ideally located close to a post-secondary institution, students make great tenants. I have mentioned to Alex the parents of the students provide stable cash flow and more secure lease agreements.
Alex and I have talked about his choices, challenges and why?
1) When should he invest?
2) What property should he invest in?
3) Who should provide the necessary services (lawyer, appraiser) to help conduct a transaction and maintain the property?
4) Finding and interviewing the right tenants for the property.
Alex’s Goal:
- Obtaining an investment portfolio that could be a “considerable” form of income in 5 years time.
- Having income that could support financial independence long-term.
Are you ready to take this investment real estate journey, learning and action plan and follow Alex over the weeks, months and years ahead?
Are you ready to be On The Move with Alex?
Alex’s Podcast will be available May 16, 2018.
https://www.vaulttoinvestmentrealestatesuccess.com/move-alex-journey-investment-real-estate/
You can reach out to Alex through his Linkedin http://linkedin.com/in/alexander-dacostaand Twitter (@FinanceDaCost) or E-mail(alexander.a.dacosta@gmail.com )
About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris