Approaching REI from Multiple Angles with Stacey Vair

Have you ever considered the many different ways to approach real estate investing and grow your wealth?

Stacey Vair started in the financial industry in 2003 as a part-time teller at one of the big banks, in downtown Vancouver. After a decade in retail banking, she made the brave decision to become an independent financial advisor to give her clients more options. Fast forward another decade, she is a proud partner and Wealth Strategist at Goddyn & Associates Financial Services.

In this episode, Stacy shares different strategies and approaches that provide you with an understanding of the diverse landscape of real estate investing.

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What you will learn from this episode for 25 minutes:

Find out the concept of Smith Maneuver to allow you to invest in rental properties by taking advantage of your mortgage payments
Learn how to find the best contractors to team up with and get top notch renters
Discover investment opportunities with government incentives

Resources:

Want Stacey to help you with REI? Click here: https://goddynfinancial.com/

Topics Covered:

01:08 - A real estate investor while being a financial advisor

03:06 - Mortgage as a vehicle for increased wealth

05:32 - Her entry into real estate investment and her first property

07:53 - What is the financial concept behind Smith Maneuver

10:52 - Lessons learned for investing in real estate

12:23 - Finding good contractors and attracting great tenants

14:07 - What her numbers look like when it comes to monthly rental

15:28 - The thing she's interested in doing looking ahead

Key Takeaways:

"Always know your numbers, which I've dialed in, but a lot of people tend to forget about; all the closing costs and expenses that come up and always expect that it's going to be 10% more, 20% more than what you originally thought it was going to be." - Stacey Vair

"Make sure that you're tight with your crew and that you have the right professionals behind you and beside you, and excellent communication between everybody just to keep the projects moving along smoothly." - Stacey Vair

"I want to ensure that my investment looks top-notch and if I needed to get out tomorrow, it's not going to be a big thing to fix it up and get it going again." - Stacey Vair

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