Finding CASHFLOWING Deals in HOT Markets with Steve Arneson

2019-08-05

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Discover how to turn low expectations into hot prospects, learn about the best strategies that have him overflowing with cashflow, know how to make a really good deal. Resources/Links https://thereinvestors.ca/

Discover how to turn low expectations into hot prospects, learn about the best strategies that have him overflowing with cashflow, know how to make a really good deal.

Resources/Links

https://thereinvestors.ca/

Summary

Steve Arneson is a full-time real estate investor and educator who helps people use the equity in their homes to set themselves up for earlier retirement and a more fulfilled life.

In this episode, Steve shares his strategies in turning doubts about a particular situation and market into his own advantage. Even when everyone says otherwise, time and again, he’s proven them wrong. Hear it from him how he did it.

Topics Covered:

01:08 – Sharing his story of how he started in Real Estate

01:47 – His type of Real Estate investing

02:15 – Real Estate as a wealth generator

02:53 – Advice he would give himself if he would go back in time as a start-up

03:47 – Talking about his meet up group, a real estate club in Victoria, what is it about

05:25 – Not accounting for expenses as being one of newbie real investors’ common mistake

05:45 – The most common expense being overlooked

07:28 – The one big strength that guides him in running his business

08:21 – How does a good deal look like

09:32 – A never-say-die attitude of finding cashflow generating income properties

11:16 – Sharing about one golden deal he just had

13:21 – Creating instant equity on your properties

14:47 – Attractive market to invest in

Key Takeaways:

“One of the biggest mistakes that we always see is people just not accounting for all of the expenses. And so you know, trying to find cashflow in any hot market is difficult. But when you’re not accounting for all of the expenses, you know, that cashflow property can turn sideways real quick.” – Steve Arneson

“One of like, the mantras that we had in our business from day one has, we will pass on nine good deals to find one great deal because we know when that correction does come, that great deal is still a good deal. Whereas a good deal you might not be making any money in a downward turn.” – Steve Arneson

“The very first thing that my family told me when I started getting into real estate investing as a career was he can’t find cashflow in Victoria, and I don’t know if you’re the same way as me, but I think you are. When somebody tells me I can’t do something, I work day in and day out to make sure I prove them wrong. And I wrote down a couple of things as we were talking before this on how people can execute that and the number one thing that everybody can do is just track all the offers that they’re making and then follow up with those offers a month, three months, six months down the road. Some of the best deals that we have in our portfolio right now came from falling up six months down the road after our first offer.” – Steve Arneson

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