New Property Owner - What Really Happens Once You Take Possession of Your New Building

Have you ever wondered what it's like to buy a building?

 

In this final episode of this mini-series,

 

Stefanie reminds us that owning property is like an emotional roller coaster, with ups and downs. Celebrate those little victories to keep the good vibes flowing!

 

Terrie and Stefanie will discuss the importance of official paperwork when it comes to letting tenants know about the change in ownership. 

 

Not just that, Terrie will explain how property projects can go south real fast if not managed right and wisely advises against letting folks who don't know the ropes influence your investment choices.

 

So, grab your seats and tune in for a fantastic chat on real estate adventures!

 

What we learned from Stefanie and Terrie Schauer in this episode:

  

- Embrace the Unknown: Conquer New Horizons with Confidence

- Banish Impostor Syndrome: Master New Responsibilities Like a Pro

- Embrace the Rollercoaster: Thrive in the Highs, Savor the Small Wins

- Master the Art of Emotional Intelligence: Your Guide to Navigating Tough Times with Self-Awareness

- Discover Your Inner Spark: Unleash Motivation and Inspiration in the Face of Challenges

- From Panic to Property Pride: Tackling Ownership with Confidence

- Unlock Profit Potential: Renovate Wisely for Maximum Income, Minimum Costs.

 

Notable Words From The Episode: 

 

When you are looking at how to renovate your units, you're not renovating for you - Terrie Schauer

 

Find the motivation that you need to get to the next step - Stefanie

 

Timestamp:

 

[00:00] Podcast intro

[01:29] Stefanie and her partner experienced a mix of apprehension, excitement, and panic when they virtually completed the process of buying a building.

[04:08] Terrie and Stefanie discussed the importance of official documentation to inform tenants of the ownership change.

[07:47]  Terrie emphasizes the importance of not renovating rental units based on personal preferences.

[08:58] Stefanie shares an example of discovering an issue with dropped ceilings in one of their rental units

[10:31] Terrie advises not to let unqualified or inexperienced individuals influence investment decisions

[11:49] Stefanie reflects on experiencing imposter syndrome as they navigate their responsibilities as landlords

[15:23] Terrie explains how construction projects on poorly managed properties can unravel like pulling a thread on a sweater

[19:29] Terrie shares her own experiences and provides reassurance regarding the fear of major issues as a property owner.

[24:53] Stefanie emphasizes that the journey of property ownership is an emotional roller coaster with its ups and downs, and it's important to celebrate small wins to maintain positivity.

[26:47] Terrie highlights the importance of celebrating small wins along the property ownership journey to associate each step with pleasure and acknowledge progress.

[29:29] Outro

 

Connect with Us:

 

Facebook Page: https://www.facebook.com/restateinvestorsclub/ 

Email: reic@clubimmobilier.ca 

Terrie Schauer’s LinkedIn: https://www.linkedin.com/in/terrieschauer/ 

Terrie Schauer’s Instagram: https://www.instagram.com/terrieschauer/