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Passive real estate investing, as explained by our guest Gary Hibbert, is a way for investors to earn income through real estate without day-to-day involvement. Picture it as if you’re the ship’s captain without steering the vessel yourself: you allow the crew (property managers, tenants, etc.) to run the operation. However, this doesn’t mean you can sit back fully. It requires strategic planning, research, and regular oversight. The key is leveraging experts and systems in place to manage properties and generate income.
For many, divesting time from such investment opens more room for other pursuits. According to Gary, this form of investment can be a fantastic way to acquire additional income. However, it’s crucial to grasp the inherent risks and responsibilities. Getting familiar with the concept, understanding how it works, and learning from experienced investors like Gary would help eliminate potential issues that could arise.
Let’s explore this fascinating subject with Gary Hibbert, a seasoned player in the field, and take in his knowledge and experiences navigating these investments.
But first, if you want financing for your next investment and want to know what type of collateral may be involved, click the link below for a free strategy call with our mortgage team at LendCity to discuss your specific situation.
The Basics of Passive Real Estate Investments
In the world of real estate, various types of investing exist, including passive real estate investment. According to Gary Hibbert, a seasoned investor and today’s podcast guest, passive real estate investing refers to investing in real estate properties but having a property manager or another professional handle its day-to-day operations and management.
Unlike active investing, where the investor is hands-on, dealing with tenant issues, maintenance and upgrades, passive investing allows you to earn from your investment without the daily hassle. It’s a strategy that requires thorough planning and insight, which could be ideal for people who want to invest in real estate without sacrificing more time and energy.
Finding good real estate deals may seem like looking for a needle in a haystack, but Gary assures you it’s entirely achievable. He says the key to finding a beneficial deal depends primarily on research and networking. One strategy can be scouring listings for properties and identifying which ones are undervalued. Networking with realtors and other real estate investors can also open up avenues for potential deals.
Setting achievable goals is an integral part of successful real estate investing. As Gary Hibbert highlights, goals give direction and purpose to your investment journey. They provide a roadmap for what you want to gain from your investments, such as financial independence, a retirement plan, or an additional income stream.
Gary suggests starting small and gradually scaling up to set attainable goals as you gain more understanding and experience in the real estate market. Remain patient, persistent, and willing to learn from mistakes to maximize your success in real estate investing.
The benefits of passive real estate investing are vast, according to Gary. Apart from the apparent financial gain, passive investment offers the potential for continued growth without requiring your constant attention and involvement. It also provides you the luxury of time, allowing you to dedicate your energies to other valuable aspects of your life.
In addition, it’s a beneficial strategy for diversifying your investment portfolio. You can reduce risk and ensure a steady income flow by spreading your investments across different assets.
Unlocking the Mystery of Finding Real Estate Deals
Guest Gary Hibbert shares his insights on unlocking the mystery of finding real estate deals. Gary offers a simple but effective strategy if you’re looking for that perfect investment.
“Firstly,” he begins, “understand your market. Every market and every area has its unique aspects. It would be best if you dedicated time to researching and understanding these. This will help you recognize when a good deal comes around.”
He adds, “Secondly, network relentlessly. Most of the best deals don’t even make it to the open market. They get passed around in investment groups or real estate circles.” Gary believes that by joining realtor associations or investing groups, such connections can provide valuable opportunities.
“Finally, don’t be discouraged by a ‘no,'” Gary advises. He assures that success in real estate comes to those who show persistence and resilience. Patience pays off in this competitive industry. If you apply these steps, Gary assures that the mystery of finding deals will soon start to unravel.”
In the quest to find profitable real estate deals, these words from an experienced investor like Gary Hibbert could be the guiding light you’ve been seeking.
Setting Achievable Goals in Real Estate Investing
In his conversation with Georges El Masri, Gary Hibbert reiterated the importance of setting tangible, achievable goals within real estate investing. One must have a clear destination to embark on such a journey. According to Gary, goals should be SMART – Specific, Measurable, Achievable, Relevant, and Time-bound.
So, what does this mean in practice? Gary explained that instead of saying, “I want to make a lot of money from real estate,” one should rather say, “I want to own five rental properties within the next three years, generating an income of $5000 per month.” You are setting a measurable and realistic objective by setting a specific time frame.
Remember, setting goals is just the start of the journey. Gary highlights that consistent action and persistence are the keys to achieving these goals. And real estate investing, he states, is no different. The journey might be challenging, sometimes requiring sacrifices, but the rewards, according to Gary, are well worth it. This conversation truly gives the reader an insight to set achievable yet challenging goals in their real estate investing journey.
Exploring the Benefits of Passive Real Estate Investing
In this episode, host Georges El Masri and guest Gary Hibbert discuss the myriad benefits of passive real estate investing. Gary explains that a significant perk of passive investing is allowing wealth accumulation over time without taking up too much of your day-to-day life. You can still hold a regular job and pursue other endeavours while your investments grow.
Another key benefit, according to Gary, is the potential for consistent cash flow. For example, you can receive regular rental income by investing in properties. This provides a stable, reliable source of earnings, regardless of what’s happening in the economy. Over time, this rental income can increase as you raise rent or pay down your mortgage, amplifying your profits even more.
The duo also highlights the aspect of tax advantages. Gary points out that passive real estate investing also comes with tax benefits that aren’t always available with other investments. The tax laws favour real estate investors, which can provide significant tax deductions and credits.
Lastly, through this investment method, you also have the opportunity to increase your net worth through appreciation. As property values rise, your investment grows, leading to a significant return on investment when you decide to sell.
Listening to this episode will give you a clear and concise understanding of the benefits of passive real estate investing, as explained by veteran investor Gary Hibbert.
Cracking the Code to Real Estate Deal Finding
Understanding the intricacies of finding real estate deals can often seem perplexing, but Gary Hibbert proved otherwise in his enlightening discussion with Georges El Masri. Gary, a seasoned real estate investor, revealed that the key to locating prime property spaces is adequate research and network expansion.
“It’s all about creating a network of people who know what you’re looking for,” Gary advised. “Use social media, attend seminars, join real estate groups – it’s paramount to connect with as many people as possible because your next big deal could originate from an unexpected source.”
But expanding your connections isn’t the only aspect. Gary emphasizes the importance of carrying out rigorous research. Understanding market trends, real estate regulations, and demographic factors can grant you a significant edge in your search for promising real estate deals. “Knowledge is power in this industry,” Gary reiterated, underlining the value of continuous learning.
Above all, Gary urged prospective investors to remain patient. “Real estate isn’t a get-rich-quick scheme,” he reminded audiences. “It requires time, patience, and the willingness to learn.” You can take these words home, remember them, and make your own success story in real estate investing.
Roadmap to Success: Goal Setting in Real Estate Investing
Host Georges El Masri sits down with guest Gary Hibbert to delve into setting goals within real estate investing. Gary emphasizes that understanding your purpose in real estate investing is central to successfully identifying and reaching your goals.
Gary recommends starting with the end in mind. When you set out on your real estate investing journey, it’s essential to visualize where you want to be and let that vision guide your decisions. Wrapping your mind around the big picture can help generate a blueprint for achieving your goal.
Gary insists on setting specific, measurable, Achievable, relevant, and time-bound (SMART) goals. Georges concurs that having a clear plan motivates and directs your path, eliminating uncertainties.
Regularly writing down these goals, as Gary suggests, aids in maintaining focus on the tract. It commits your objective to memory, constantly reminding you of what you must accomplish. But equally important is being flexible and adaptable. Recognizing when adjustments must be made is crucial to successful real estate investing. After all, the world of real estate is dynamic, and being open to change ensures that you can pivot and adapt when necessary.
Lastly, Georges and Gary discuss the importance of a community – a network of people darting along the same path. Such a community can provide emotional support, share relevant insight, and open up opportunities that might not be accessible otherwise.
Indeed, goal setting is a mix of clarity, adaptability, and community. It’s like setting the GPS before hitting the road: it helps navigate the way, modifies the course when there’s a roadblock, and shares the journey with fellow travellers.
Making Real Estate Investing Goals a Reality
In the exciting world of real estate investing, goal setting is a crucial step. Indeed, guest Gary Hibbert stressed this point to host Georges El Masri. According to Hibbert, real estate investing isn’t just about spotting properties and turning profits. Success in this complex field starts with setting concrete, achievable goals.
“Anyone can buy a property,” Hibbert emphasized. “But having a clear goal and a plan can set you apart from other investors. It provides a clear path and helps in making informed decisions.”
Often, they are tangible goals, such as generating a certain income, diversifying holdings, or owning a specific number of properties. But, Hibbert pointed out, goals can also be related to personal development, like acquiring industry knowledge or mastering negotiation techniques.
Hibbert shared that goals should be SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. “SMART goals can alleviate much of the potential stress of real estate investing. They guide you in making strategic decisions that align with your long-term objectives,” Hibbert elaborated.
In conclusion, Hibbert empowered listeners to take charge. Real estate investing is a journey, and effective goal-setting is the compass that leads to success.
If you are ready to start investing today and want more information about how your mortgage may be secured – or are looking to apply for a mortgage today – click the link below for a free strategy call with our mortgage team at LendCity today.