June 3, 2022

Getting Started with Single Family Homes with W. Rick Harris

Why hand over your hard-earned money to someone else to grow it when you can do it yourself and control how much you want to increase it?

That's precisely what this episode is about, investing in real estate, particularly buying single-family homes and making things work amidst the rising market situation.

Rick Harris is an investment real estate author, coach, and consultant who helps investment real estate investors to boost their real estate purchasing and renting ability.

Drawing on twenty years of investment real estate experience, Rick reveals the strong financial foundation, sustainable wealth, and living legacy that investment real estate can bring to our lives. In his debut book, 31 Days to Purchasing and Renting Your First Investment Real Estate Property, Rick demystifies the real estate purchasing process and expertly guides readers through the steps to starting their own investment real business: identifying the right type of property to purchase, putting the deal together, obtaining financing, setting up a proven cash flow and marketing system, and much more.

In this episode, Rick shares how you can grow your retirement fund faster, choose your lifestyle, and even pay your mortgage quicker by investing in single-family homes.

Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/

What you'll learn in just 17 minutes from today's episode:

  • Find the magic in buying and investing in single-family homes and make things work despite the increasing market price
  • Hear about the portfolio you need to have and get started with to prepare you for retirement
  • Know about the tips to help you bail out your mortgage faster and quicker


Topics Covered:

00:56 - How Rick started a side hustle in real estate

02:32 - What investing strategy did he first focus on when he started investing in real estate?

04:40 - Making things work by buying single-family homes amidst rising market price

08:27 - Uber rising your investment

09:28 - What he would have done differently early on when he first invested in real estate

11:37 - A good portfolio of properties that will hugely set up your retirement fund and a lifestyle you want

Key Takeaways:

"I had all the bells and whistles, a defined benefit pension, RSPs, OAS, CPP, outside investments, but I really had just turned the money over to other people I didn't have any control. And I was looking for that one specific thing that I could actually do that I felt I had some control over. And investment real estate, when I did my research fit that bill." - Rick Harris

"What would I do differently if I was to start over again? First of all, I wouldn't buy the white picket fence; I would buy a duplex or a bungalow. And the other thing I do is I would go and get a part-time job, even if it was three hours a week, and put that money down towards the principal." - Rick Harris

"Don't give up your day job, don't give up your career; you have to have a comfort level. And I'm also not suggesting having all your eggs in one basket. I didn't grow up with that philosophy, I think you should be diverse." - Rick Harris

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