Who Is The Man Behind @scaredyCatGuide
On this Podcast with Mitchel Jaworski, the Author/Coach/Real Estate Investor who is an Inspiration and has some great advice for anyone looking to get into Flipping Real Estate, Rehabbing property and overall Real Estate Investing! He says that everyone is particular to their local market and the way he feels about his Florida Market is the same way I feel about the Fall River MA market.
He says that the reason as to why he is investing in Worcester is that he has a partner that doesn't live far from that area. He says that the main reason as to why he invested in Worcester is that everything in Florida is inflated, so he had to sell a couple of properties in Florida to book those games because the price appreciation there [Florida] has been crazy.
So he had to go where the price is a little more stable, where he can get much depreciation and appreciation. He had plans to go Mid-West but a friend of his buddy hit him up and asked him to consider going Middle Massachusetts because the prices don't swing huge as it is in Boston. He is basically trying to pick up. He is basically trying to pick up rehab projects there and create the value then rent or refinance them out.
What About The Middle Ground? Why Cashflow First?
I ask Mitchel what is he doing with regards to the middle ground where a client/lead wants may want a property kind of different from what you're offering yet it still works for them. He says that doesn't matter what market you're in if the property cash flows then you're golden then if he is holding it then who cares if the market is top, bottom, or middle because you're collecting your cash flow, you're getting principal pay.
This is the reason as to why he believes in buying with some equity, for example, he has 20 - 25 percent equity in all properties because he knows that if crap hits the fan and they're in a bad market and let's say he has a personal life event and he needs to liquidate then he can at least sell rather pull money out of the pocket so that he can sell his places.
Why Did He Start Training?
He says that he loves sharing what he knows where he has always had this super risk-averse approach to investing and he is not as aggressive as he should be though at the same time he is proud to say he hasn't lost money on a real estate deal because he probably passes up deals that are remotely risky.
So he started the brand called Scaredy-cat guides like Scaredy-cat guide to investing in real estate or investing in Bitcoin or anything he has knowledge on. So he wrote a Scaredy-cat guide to investing in rental properties which was published years ago and it is on Amazon.
It is a newbie's book that not only takes one through the basics of buying and selling because if you have never done it before, you know don't know what to expect the closing.
He further states the book focuses on how you can correctly analyze a property, and how you can use to use a calculator, and why using it [Calculator] is so important because it takes the emotions out of it. That is what it did to him, follow the numbers and don't let your heart get involved. If it gives you the green light, then push forward, and if it doesn't give you the green light then next.
Why Do Some Investors Pay More For A Deal?
He also says that what is the minimum cash on the cash you're willing to receive because everyone is different, are you investing for cash flow? are you investing for appreciation? are investing for just the tax benefits or are you investing for principal pay down? To him, his favorite is the principle pay where he wants his cash on cash return though, in the end, he is investing where he has equity in a property then his tenants pay the mortgage.
Mitch offers the biggest advice on how to get started with real estate investing:
- Decide why you're investing. Are you investing for cash flow? Are you investing for appreciation? Are you investing for tax write-offs or principal pay down or maybe multiple of them.
- Pick the market, know the market then invest there rather than chasing around everywhere the market could be. Be the master of that market.
Big Thanks to @scaredyCatGuide for jumping on the podcast and sharing your knowledge!
To learn more check out the blog and podcasts at http://www.GualterAmarelo.com
To register for our Saturday live webinar to start your wealth journey, visit http://www.gualteramarelo.com/Live
To learn how to Invest in Real Estate Successfully even if you are a scaredy-cat by visiting
https://scaredycatguide.com/real-estate
To find Scaredy Cat Guide: Investing in Rental Properties on Amazon, visit
https://amzn.to/2VrL4xE
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Your post has been voted as a part of Encouragement program. Keep up the good work!
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These two :)
You guys make real estate fun :)
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Boom! Looking forward to Round 2
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@scaredycatguide It's already on the calendar! I can't wait to get this one in the next book! We've got to dive into Crypto!
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STOPDo not miss the last post from @hivebuzz:
very great go on
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@pavan4711 This was such a fun interview with @scaredycatguide. we've got another one coming up in a week, but it might take a few months to get it on here, lol
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