Good morning,
A common quote in the real estate world is: ‘live where you want and invest where it makes sense’.
This week’s investor is a great example of this – living in Hawaii and investing 6 time zones away in Pittsburgh. Meaning he has to have an tock solid team on the ground. And he’s found a way to make it work.
It is my pleasure to introduce you to Financial F.I.R.E. Fighter
How many doors do you have?
14 SFH 1 syndication deal 1 commercial unit
What got you into real estate investing?
The Shut down made me realize how risky financial future was
What market(s) do you operate in?
Pittsburgh and Honolulu
Sponsor – Steadily
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How would you describe your portfolio?
Boring
What are you currently buying?
Single Family Homes
Tell us about your biggest mistake in real estate?
Besides the cliché of starting 20 years ago I would say trying to grow to quickly. The first few got me thinking the process came with no headaches. I grew to quickly without planning accordingly with enough reserves. So trying to grow to quickly actually has slowed me down.
Tell us about your biggest win in real estate?
Helping others get started in out of state investing. I am no longer with my son’s mother but I know that if her financial future is better then it would only be better for my son’s future. So I helped her get 2 rental properties in Pittsburgh. I also helped a retired fire captain I worked with get 2 turnkey properties. Currently in the process of helping an old college friend that saw my social media posts and reached out to learn about real estate investing.
Outside of real estate what else do you invest in?
Myself. Trying to build a YouTube channel. Trying to build a brand to help others start investing. Hawaii is such an expensive market to try and get your foot in the door I truly believe for many trying to make your first purchase in Hawaii puts you behind the financial 8 ball. Trying to help other Firefighters realize that relying on our pension for retirement is very very risky.
Books people should read before investing
Secrets of the millionaire mindset t.Harv Eker. I believe your mindset more than anything is very important when it comes to life, business and investing.
What advice would you give to a new investor?
Focus. Become great at something before you try and diversify. Don’t compare your year 1 to someone else’s year 10.
marc oshiro Financial F.I.R.E Fighter (@F_I_R_E_Fighter) / Twitter — twitter.com
Covid opened my eyes to FIRE (Financially Independent Retire Early)
This week on the Podcast
Episode 13:
Leaving Real Estate, why John Champaign is liquidating his portfolio
We all love real estate – the appreciation, cash flow, tax advantages… But what happens when owning a rental portfolio makes less sense. Sometimes life just happens!
Links to listen:
Enough Business
Over the past few weeks I’ve gone out of my way to connect with real estate veterans. What struck me is how excited they all are. There is no fear in their eyes when discussing the upcoming recession.
On the opposite side there is plenty of anxiety in newer investors (such as myself). People who have invested in the last 10 years have not seen a sustained economic recession. How good are your systems? Do you have enough reserves? Are you over leveraged?
One of the key differences I’ve seen with seasoned investors is how they view the media. When the news gets negative they force themselves to stay positive. Because they know negative media often leads to great buying opportunities.
“For every negative news story – I lose 2% of my competition” – Michael Zuber
Monday’s podcast:
Flipping in a recession, tips from a 20 year veteran with April Crossley
