022: How Jay Shaw & Erika Spencer Bought 17 Properties In 18 Months

Kyle Miller talks with Jay Shaw & Erika Spencer.

Introduction

Jay and Erika didn’t start off with much money but they did have the drive to make it in real estate investing. After buying 2 homes in a month they got the attention of other investors who were amazed by how much they had done in such a short amount of time. 18 months later they are on their 17th property helping investors make smart decisions with their money.

Key Points

  • [2:10] How did you get started in real estate investing?
  • [3:28] Niagara has seen a growth of 34% in Q1.
  • [5:55] We like to call HGTV real estate porn.
  • [6:45] How did you go about getting your 2nd property?
  • [8:55] How did you work out the down payment for 2 properties?
  • [10:10] I think we made more money back in 3 weeks on the property then we did in 3 years of RRSP interest.
  • [17:00] We didn’t think what we were doing was abnormal. One thing led to another.
  • [19:10] Investors don’t just want to hear what you have to say, they want to feel that you are authentic.
  • [21:25] A 10% interest rate is actually good.
  • [23:00] You have to think like an investor, not a consumer.
  • [25:15] Rich Dad Poor Dad changed my mindset and made me a new person.
  • [25:55] How can someone work with you?
  • [31:00] Do you see any markets you want to expand into?
  • [35:00] You don’t have to be a landlord to make real estate investing work.
  • [37:20] Get off the couch and stop watching HGTV. That is the only way to make your dreams happen.
  • [38:45] Have a good mortgage broker and don’t work with just the banks. There is always a curve ball and if the bank doesn’t like it, it might sink the whole deal.
  • [39:50] You’re only as good your team.

 

References 

 


 

Contact Erika Spencer

Contact Jay Shaw