Description

Please check out our other episodes here: https://letsgetrealestatepodcast.com/

One of the struggles a lot of people experience is that in the beginning, they're focused on owning their first home without really thinking of making it an investment. This was what Shawn went through. And, it took a shift in mindset to be able to focus on investing in real estate.

In this episode, we cover:

• Shawn’s background and how he got started in real estate investing. After he bought his new home from his buy-and-sell business, he started educating himself on how to invest in real estate to change his life.
• Good debt vs. bad debt. Bad debt is credit card debt. Good debt is owning the mortgage you’re paying because you are building equity and gaining an appreciation for the property over time.
• The challenges that Shawn faced from buying his primary residence in 2018 to owning over 40 units to venturing into land development.
• How Shawn found people who have experience in real estate investing and connected with them to make sure he was on the right track. He started looking online, joined online communities, and also started going to networking events.
• Shawn shares how some properties could have been great investments but he was too picky. He only focused on properties that he knew were perfectly executed BRRRs. He admits he could’ve made more.
• How Shawn changed his strategy to be more fluid in underwriting a property. He realized that he has to lower his criteria to lesser cash flow and lesser return in order to purchase more properties and grow his portfolio. He was able to do this by shifting his focus to a different market.
• Shawn on not overthinking about things. He says that just make sure to make educated decisions and not base them on emotions. 

Resources and links mentioned:

MLS: https://www.realtor.ca/mls

About Shawn Rea

Shawn Rea was a full-time employee but still living paycheck to paycheck. He changed his life by educating himself in real estate investing. He started investing at age 25 and now owns over 40 units and 18 parcels of land among other properties. He is currently working as a realtor in the Niagara region. He works primarily with investors that are looking to invest in multi-family properties, flips, and conversions.

Connect with Shawn Rea:
Instagram: https://www.instagram.com/shawnrea/?hl=en
Facebook: https://www.facebook.com/shawn.rea
LinkedIn: https://www.linkedin.com/in/shawnrea/?originalSubdomain=ca

Connect with Danielle Chiasson:

Website: https://engineeredreturnsinc.com/index.html

LinkedIn: https://www.linkedin.com/in/daniellechiasson/

Instagram: https://www.instagram.com/danielle.chiasson/

Facebook: https://www.facebook.com/DaniChiasson

Book in a call: https://calendly.com/strategicsuccess/lets-get-real-estate-20-min-chat

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