2 – Switching Careers with Real Estate Investing
Episode Summary
In this episode, Quentin takes the mystery out of real estate investing with a new member who has owned a business for 15 years and is looking for a career change. We go over the best way to get started in real estate investing, and why you should start now and not wait for later.
The member shares that he has worked in the masonry business for the last 15 years, but now he is looking to change from a career in stone masonry. Quentin adds that in real estate, it’s about figuring out what works and what doesn’t work for you, what you like, and what strategy you want to focus on. The member shares that he has renovated a couple of his properties, planning to sell one later. Quentin suggests that he should focus on both getting his license and buying a property. He says “See what you qualify for, then you can go and figure out what you want to do.”
Quentin suggests starting with the financing piece, and then just finding something where numbers make sense. He adds, “If you’re looking for numbers that make sense, I would say focus on Barry. Barry right now has the ability to do garden suites, which is not really well known. And so if you can buy a house put, like put a basement suite in and then add a garden suite, you’re basically creating a triplex, which would be a good strategy.” In conclusion, Quentin suggests starting right away once numbers make sense and he has a good deal.
Topics Discussed
• Introduction [00:00]
• His Masonry Business and How Does it Work? [01:45]
• What is He Doing in Order to Get His First Project Started? [05:18]
Important Links
About the Author Quentin DSouza
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Action Taker's Real Estate Investing Planner, The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords, The Filling Vacancies Toolbox: A Step-By-Step Guide for Ontario Real Estate Investors and Landlords for Renting Out Residential Real Estate, and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.
