Episode 74, (From the Archives) - 7 Secrets To Finding Hidden Gems w/Erik Mitchell
Real Talk With Gary - Real Estate Investing · Gary Hibbert
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Show Notes
Gary is chatting in this archive episode with Erik Mitchell, about his start in real estate investing. Erik isn't your typical RE investor, as he has a background in business, became a licensed mortgage agent, taught himself about the challenges in investing, and also now educates others on the possibilities with investing! He and his brother now have a portfolio of over 64 units, so this is a podcast you DON'T want to miss!
What you will learn on this Podcast:
- How to get started in Real Estate Investing
- Should you use the equity in your home to invest
- Should you focus on turn-key properties or ugly homes
- 7 secrets To finding hidden GEMS in Real Estate Investing
- How solving problems is an important skill to learn
- Can you still find great deals on MLS
- The importance of finding motivated sellers
- What a vendor take back is and how it works
- The importance of being a local market expert
- How to get rid of bad tenants easily
- When and where do tenants make their buying decision
- The importance of understanding your tenant and their neighbourhood
Erik's Bio:
Erik is a graduate from the Richard Ivey School of Business. After working for only one year he decided that wasn't the life for him. So instead, Erik and his brother Kevin both quit their day jobs almost a decade ago to start a real estate investment company and have been working as full time real estate investors ever since.
Over this time they have built a portfolio of 64 units across Ontario. Not only that but they have also built a comprehensive educational system for real estate investing that has absolutely everything you need as an investor...all the information, access to all of the resources they have ever built, an industry leading property analyzer, and even a section dedicated to Student Rentals.
Erik also became a licensed mortgage agent in order to provide clients and investors a passive way to help invest their registered money (RSP, TFSA, LIRA, LIF, RIF etc.) into real estate...earning an 8% Fixed Annual Rate of Return in some of the most exciting development projects in Canada. He is a wealth of knowledge and has a ton of experience, some of which he will be sharing with you during this podcast.
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Interested in learning more about Real Estate Investing? Visit https://www.smarthomechoice.ca