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Get Ready to Invest! (Episode 40) S3 E10
You can watch this episode on Youtube: https://youtu.be/6apqTdfVK-E
How do you get started in real estate investing? Especially in Utah, there are some things you need to know to make sure you don't get burned.
1:22 - Hey, I want to go do this (investing), no what? Now they have cash to start, but they're getting ahead of themselves. Investing is starting a business. It's not just a deal.
2:10 - Jason's first deal. He started with $200,000 cash on hand. He paid off his house, then got a HELOC (Home Equity Line of Credit). This may not be an ideal strategy today. Told agents, let me know when you have a good deal. "Good deal" usually means "distressed" — there's a timeline, a need, etc that's driving this transaction. He also had a pre-vetted tenant lined up to rent.
5:10 - That's a viable way to get a house. But there was relatively little research. He had some good luck. Are you willing to risk luck on such a high-dollar purchase?
5:55 - We're in the industry, and we learn new things all the time.
6:20 - Cash on hand could be a HELOC, inheritance, saving like mad, etc; but your going to need some cash on hand. You can also make your current home that you own your first investment property by NOT selling it when you move out — this requires MUCH less capital to get you started. Putting 5% down is way better than putting 20% down because you have more cash to purchase other properties.
7:55 - Tease 4 Pillars of Investment. We love 4 Pillars, and we'll talk about it to no end.
8:25 - Have a strategy. Here is a list of ideas.
9:09 - Are you looking for Cashflow or Appreciation? In Utah, in general, we are an investment-appreciation state. But that doesn't mean they're bad investments. You can leverage those properties in the future. You're going to be hooked on investing once you purchase your first one. From there, you'll need more cash to buy your next one. There are ways to do that that we'll talk about in future episodes.
10:25 - Tyler's first deal. Used a HELOC to purchase. Purchased for "organic appreciation", but also made updates the property to create "forced appreciation".
11:51 - Come to lunch with us to discuss your investment strategy! 🍔 Where's the wow? Have a plan, and you'll find it.
12:15 - Aric's first investment. Took a 401k draw to fund it. He had a plan, laid out the numbers. Be intentional about the purchase. Don't kill your investment by overreaching.
13:59 - You're going to be amazing at some stuff, but DO NOT try to do everything. Farm out things you don't want to do.
14:31 - You're either Time, Money, or Skills. You may have 1 or 2 of these things, you'll never have all three. Partner up to bring in what you don't have.
15:39 - What'd we learn today?
17:15 - Bloopers.
*No investment plans were harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
View all episodes
By Tyler Cazier, Aric Wiszt, & Jason ChristiansenYou can watch this episode on Youtube: https://youtu.be/6apqTdfVK-E
How do you get started in real estate investing? Especially in Utah, there are some things you need to know to make sure you don't get burned.
1:22 - Hey, I want to go do this (investing), no what? Now they have cash to start, but they're getting ahead of themselves. Investing is starting a business. It's not just a deal.
2:10 - Jason's first deal. He started with $200,000 cash on hand. He paid off his house, then got a HELOC (Home Equity Line of Credit). This may not be an ideal strategy today. Told agents, let me know when you have a good deal. "Good deal" usually means "distressed" — there's a timeline, a need, etc that's driving this transaction. He also had a pre-vetted tenant lined up to rent.
5:10 - That's a viable way to get a house. But there was relatively little research. He had some good luck. Are you willing to risk luck on such a high-dollar purchase?
5:55 - We're in the industry, and we learn new things all the time.
6:20 - Cash on hand could be a HELOC, inheritance, saving like mad, etc; but your going to need some cash on hand. You can also make your current home that you own your first investment property by NOT selling it when you move out — this requires MUCH less capital to get you started. Putting 5% down is way better than putting 20% down because you have more cash to purchase other properties.
7:55 - Tease 4 Pillars of Investment. We love 4 Pillars, and we'll talk about it to no end.
8:25 - Have a strategy. Here is a list of ideas.
9:09 - Are you looking for Cashflow or Appreciation? In Utah, in general, we are an investment-appreciation state. But that doesn't mean they're bad investments. You can leverage those properties in the future. You're going to be hooked on investing once you purchase your first one. From there, you'll need more cash to buy your next one. There are ways to do that that we'll talk about in future episodes.
10:25 - Tyler's first deal. Used a HELOC to purchase. Purchased for "organic appreciation", but also made updates the property to create "forced appreciation".
11:51 - Come to lunch with us to discuss your investment strategy! 🍔 Where's the wow? Have a plan, and you'll find it.
12:15 - Aric's first investment. Took a 401k draw to fund it. He had a plan, laid out the numbers. Be intentional about the purchase. Don't kill your investment by overreaching.
13:59 - You're going to be amazing at some stuff, but DO NOT try to do everything. Farm out things you don't want to do.
14:31 - You're either Time, Money, or Skills. You may have 1 or 2 of these things, you'll never have all three. Partner up to bring in what you don't have.
15:39 - What'd we learn today?
17:15 - Bloopers.
*No investment plans were harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.