In this episode, we cover:

• Randy’s roadmap to becoming a real estate investor. After two years of becoming an electrician, he bought his first rental property. He took a course on real estate investing and got his start in single-family homes after six months. They have now scaled up into large development properties together with his partner, Steve.
• Randy talks about his first investment deals. He bought townhouses once every six months. Realizing he didn’t want to live with strangers anymore, he pitched on a half-duplex house and got into the deal.
• Randy went on a self-development journey. He took workshops and invested heavily in himself to learn more. He went all-in on himself and on his investor self.
• Randy’s advice to someone who’s about to embark on the real estate investing journey. The biggest thing that pushed Randy was living, breathing, and eating real estate. He became obsessed with learning about developing properties. The biggest thing is to have a mentor.
• The factors that contributed to Randy’s success. Having their own community was one of his biggest successes. His background in construction enabled him to bring value to working with developers.
• How to get started in the development space. Aside from finding a partner, Randy was told to go talk to the city if he wanted to find deals. Get acquainted with the city and learn what needs to be learned from it.
• Randy shares that one of his most successful deals is a triplex. They bought it for $500,000, spent over $100,000 in construction, and got appraised by the bank for $800,000. The property sells on the market for about $900,000 today.

Resources and links mentioned: 

• Rich Dad Poor Dad: https://www.richdad.com/
• Rae Ostrander: https://raeostrander.com/
• Keyspire: https://www.keyspire.com/
• TLA Developments: https://www.tladev.ca/

Connect with Randy Molland:

• Website: https://thereinvestors.ca/
• Facebook: https://www.facebook.com/randy.molland
• Community: https://www.facebook.com/groups/thereinvestors/

About Randy Molland

Randy Molland is the co-founder of a real estate investment and education company called The REInvestors. He paired his background in electrical trades and construction with his passion and knowledge in real estate investing. He is inspired to help everyday people understand the value of investing in real estate. His true passion lies in the bigger mission of wanting to inspire people with their go-big-to-give-big moment where they can encourage others to go bigger with their dreams and goals so they can give bigger to those around them.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/ 

Email: [email protected]