There’s nothing more rewarding then watching a beginning investor take the plunge by purchasing their first investment property. Although all the books you read teach you to remove the emotions when purchasing your investments… it’s not always that simple for your first one.
The emotions of;
“I can’t believe we did it”
“They want the deposit cheque tomorrow?”
“But what if this happens?”
“This is such an incredible learning experience!”
“I didn’t calculate that cost”
“I didn’t see this home, OMG did I buy the right one?”
“What, we filled our home already?”
“When can we go out again?!”
These investor experienced this, as most of us do, lets not kid ourselves or point fingers!
What allowed them to strive through the tough times was remembering there teachings from the investment clubs and it also allowed them to purchase 2 homes in a span of 2 months. I can’t wait to see what they have in store for the next few years.
Here’s what they had to say:
“Who, what, where, why, when and how”
Those are the important questions we learn in school.
Who: Middle aged married professionals
What: Real Estate Investing
Where: In East Durham
Why: Intent on making real estate investing one of the pillars of long term wealth-building to leave a legacy for our son
How: Under the direction of Monika Jaczyk of Real Property Investments, and part of the powerhouse trio behind MORE (Mothers of Real Estate), our plans began to move from research to glacial action.
As an effective team, my husband and I decided to divide in order to conquer. He pursued other avenues and I strolled down Real Estate Lane. I still needed someone to coach me, to show me how to spot and secure deals.
Enter Durham Area Expert, Gary Hibbert, of Smart Home Choice.
Under Gary’s direction, I was able to realize two great investments within months of each other.
One closed in May and the other will be closing in July. Both are minutes away from the current 407 extension and that time will shortened further by the project’s completion.
This has been a phenomenal learning experience. Gary answers all my questions (and I have many!), and gives clear evidence to assuage my newbie jitters. The Smart Home Choice team facilitates excellent mastermind sessions where I’ve taken copious notes from presentations by industry experts and learned from other investors along the way.
Gary likes to say “Purpose over object.” Or, as Monika puts it, “Know your why.”
My personality has always been research, ask, ask, ask and then ACT. Act based on a range of carefully considered expert and experienced opinions. Act based on a fine toothed assessment of your financials. Act with your end goal in mind.
From this debut experience, I feel my saying going forward will be this: “Hesitation doesn’t bring appreciation; take action NOW.”
“Freshly Minted Investor”