Morning,
We have a very special newsletter for you today – starting with a big announcement!
Resilient REI will be debuting a Tuesday Pro newsletter featuring a rotation of 3 real estate pros. These pros will be sharing actionable tips to implement into your investing.
These pros include:
Lauren K. Aumond (@AdultingIsEasy) – Short Term Rental Pro
Jordan Santiago (@TheJSantiago) – Wholesaler Pro
Mary Nickless (@thepennydrop3) – Landlord Pro
The first Tuesday Pro newsletter will feature Lauren on how to price your new STR and what pricing software you should be aware of. Launching next Tuesday!
The second part of this barnburner newsletter is this week’s investor. He is an investor, CFO, podcast host, and runs an incredible Twitter account. It is my pleasure to introduce you to Clint Murphy – better known as Coach Clint!
What got you into real estate investing?
I’ve always loved real estate, and I started working in the field in 2010.
Seeing so many people achieve net worths in excess of $100 million or $1 billion taught me we should all be able to do this, with enough capital, and time.
Once I started investing, I was hooked, and continued to buy during the upswings, and heavily during downturns.
What market(s) do you operate in?
Vancouver, Canada
How would you describe your portfolio?
1 Single Family, 1 apartment, 5 townhomes and a summer cottage. Most of the properties don’t cash flow, but have seen significant appreciation over time. The cottage is meant to cash flow.
What are you currently buying?
I’m considering investing out of province (state) in an area with better cash flow and also looking to invest in alternative opportunities, through work. Long-term, I want to be buying apartment buildings with 10+ units per acquisition.
Tell us about your biggest mistake in real estate?
Building our house. It consumed too much capital and was over budget by $500k.
If this hadn’t happened, we’d have bought four more townhomes, and the appreciation on them would have been $2 million.
It’s not just the cost. It was the challenge, stress, time, and, most importantly, the opportunity cost.
Tell us about your biggest win in real estate?
We bought a townhouse in an amazing area in 2010ish and people thought it was a “ghost town” and people wouldn’t want to live there.
Fast forward ~ four years and we were able to sell it for a profit of ~ $1 million.
Outside of real estate what else do you invest in?
I invest in myself as the greatest return I will ever get, whether it’s reading, online courses, or online programs.
For investments, I have a fair amount of money in Bitcoin currently and Bitcoin miners.
Books people should read before investing
Feeling Good: the New Mood Therapy and Seven Habits of Highly Effective People.
More than anything, we need to fix our thinking before we do anything.
The clearer our thinking, the better the decisions we will make and the more likely we will have long-term success.
What advice would you give to a new investor?
It’s a marathon, not a sprint. Get started sooner, than later, and invest as much as you can, as often as you can, and don’t touch it. Let compounding do its work and in 20 years, you’ll be blown away.
Enough Business
As mentioned in the last newsletter – I recently spent sometime dog sitting the family dog (Princess). She is an older pup, just turned 13, and is very set in her ways. Any deviation from her schedule is visibly stressful for her.
One such stressor is when my parents are out. She vigilantly watches the doors. Patiently waiting for their return.
Got me thinking how stressful leaving one’s comfort zone can be. If you don’t have the right mindset it can be very easy to take the first excuse to run back to comfort.
If leaving your comfort zone is overly stressful – make sure you have people in your life who can help guide you. That is one thing that I love about our small part of Twitter. There are many people willing to both offer guidance and hold you accountable to not bolt for the door.
See you on Tuesday
