Haste & Hustle: Making Entrepreneurship Accessible Via Events and Living Like a Rock Star w/ Shauna Arnott
Hello Wealth Hackers and welcome to another episode of the truth about real estate investing.
You may already know this about me, I’m not the most eloquent or well spoken person. It’s always hard for me to explain what it is I do.
Then yesterday, a gentleman messaged me and told me his story how his family is in debt from his wife losing her job when she was pregnant with their son and how he’s on a mission to learn about investing in real estate.
His question is, how does he come up with a downpayment for an investment property?
To many of you, this is a no brainer. Almost everyone I know I using a home equity line of credit, or they’ve refinanced their home for their first down payment or more. After they ran out of equity in their homes for down payments, they either went the joint venture route, partnering with friends or family. Or they waited for the market to do its thing, tenants to pay down mortgages and, voila, more equity to refinance for more down payments and more investment properties.
If this is not an option for you, then invest in yourself and look for opportunities in your current employment to add value. For me personally, I studied sales because that is the easiest way to create value. If you are revenue generating in your business, you are invaluable. Same if you save your company money or you can raise money, hence why you see many company CFO’s as the 2nd highest paid. What also happens is the company’s top sales people make more money than the president does.
In my last job, my boss was a workaholic and a genius, so no way I could fill her shoes. I focused on Sales training and investing in real estate when I was not working my day job.
On to my unwanted tenant… No, not the one who vandalized my AirBnb house before it became an AirBnb – but skunks!
Yes, the black furred rodents with the white stripe down their back.
My nanny alerted me to seeing five of them in our backyard. They were likely attracted to my vegetable garden and kick ass sweet peppers. I sprinted to the backyard only to see a tail disappear under my shed. I’ve been documenting what I call, Skunk vs DIY Skunk removal. Thank you to all who have sent me home remedies. So far I have filled the space under my shed with water. I have played for the skunks “Old Macdonald Had a Farm” on loop with my old iPhone to annoy the crap out of them, because I know it works on me when taking the kids on road trips. I’ve dusted the area at the opening of their hole with flour to track if they are in there or not, then it immediately rained.
I’ve even gone on to mark the territory, but didn’t record that video.
Anyways, the video is all there on my instagram @erwinszeto for you to laugh at me. Yes, I know I should just hire a pest relocation professional, and I would for any of my tenants, but this is my home and as of right now it gets the least $$ allocated to it because it’s not an asset! It’s a liability!! All you fellow, wealth hacking, frugal investors know what I’m talking about.View this post on Instagram


