Reflecting Back on 2022 and Looking Ahead to 2023 with Mario Griffiths and Ron Christopher
Release Date: 01/17/2023
Keys To Completing Your First Renovation Project
Black Wealth Effect
In our recent episode of the Black Wealth Effect podcast, we had the pleasure of speaking with Keziah, a general contractor and business owner. She shared her experiences in the construction industry, offering valuable advice for aspiring contractors. Keziah discussed the challenges of working on older homes, the importance of building a strong reputation through excellent work, and the need for education and empowerment within the Black community. She also highlighted market opportunities like garden suites and property renovations and emphasized the importance of financial planning and...
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How to 10X Your Real Estate Business
Black Wealth Effect
In our recent episode of the Black Wealth Effect podcast, we had the pleasure of hosting Andre Chin, an experienced entrepreneur and real estate investor. Andre shared his insights on the importance of building relationships in sales and real estate, emphasizing the power of personal conversations and the strategic use of social media to generate leads. He delved into the art of negotiation, advocating for win-win solutions, and highlighted the significance of understanding market trends and key metrics to create urgency and solve client problems. During the conversation, Andre...
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Self Made - From Homeless To 140 Doors
Black Wealth Effect
Ray Glymph, a successful real estate investor and entrepreneur, shares his journey from homelessness to owning over 100 properties. He emphasizes the importance of giving back to the community and taking calculated risks. Ray discusses the challenges he faced and the lessons he learned along the way, including the value of systems and the need for affordable housing. He also highlights the role of mentorship and the power of networking in achieving success in real estate investing. Ray's goal is to help more people in the real estate investing space and he offers free resources and...
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Short Term Rental Design & Management Checklist For Thriving In A Challenging Market
Black Wealth Effect
In this episode, Emily Belton shares her experiences and insights on running a short-term rental property management business. She emphasizes the importance of continuously learning and growing in entrepreneurship, drawing from her background as a soccer player. Emily also discusses the do's and don'ts of designing short-term rentals, the current state of the market, and the key considerations for managing properties remotely. She provides advice for those interested in starting a property management business and highlights the significance of documenting everything and knowing your rights as...
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From Trades To Triumph - Tips For Growing Your Mindset
Black Wealth Effect
Andy shares his journey in real estate investing and the importance of taking action and being uncomfortable. He emphasizes the need for education, coaching, and networking in order to succeed. Andy also discusses the benefits of managing his own properties and provides tips for vetting property management companies. He believes that now is a great time to buy in the market and shares his goal of growing his portfolio to over 100 units by the end of the year. Takeaways Take action and be uncomfortable in order to grow and succeed in real estate investing. Invest in education,...
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How A 22 Year Old University Student Started His Wealth Building Journey
Black Wealth Effect
In this episode of the Black Wealth Effect podcast, host Mario Griffiths interviews guest Jude, a successful real estate investor. Jude shares his journey of starting as an entrepreneur at a young age and eventually transitioning into real estate investing. He discusses the importance of having a strong work ethic, the influence of his engineering background on his real estate business, and the significance of building relationships and understanding different types of sellers. Jude also emphasizes the value of identifying lucrative opportunities and leveraging virtual assistants to maximize...
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Tech CEO Turned Successful Real Estate Investor
Black Wealth Effect
In this episode of the Black Wealth Effect Podcast, Deji shares his experience starting a tech company and immigrating to Canada to build wealth as a real estate investor. The episode also covers seller motivation and the reasons why homeowners sell their homes privately. Deji shares tips for finding off - market deals, his approach to growing his mindset and being successful as a real estate investor. Takeaways When buying a house as an investor, it's important to consider the seller motivation behind the sale Financial difficulties can be a strong motivation for sellers to sell their...
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The Code to Unleashing Your Buying Power
Black Wealth Effect
In this episode of the Black Wealth Effect Podcast, host Mario Griffiths interviews mortgage broker Royston Simon. Royston shares his personal background and career journey, including his unconventional path to becoming a mortgage broker. He discusses the lessons he learned from a challenging pre-construction experience and offers advice for his younger self. Royston also shares insights into current trends among buyers and lenders in the real estate market. He highlights the importance of being proactive and seeking professional advice when it comes to mortgages. Royston shares examples of...
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Market Pulse & Top Tips For Finding Off - Market Properties
Black Wealth Effect
The real estate investing market in Ontario has made a major shift in the last few months. With the lack of recent interest rate hikes and predictions of interest rate cuts at some point this year, buyer confidence is on the uptick. In this episode you'll be able to: Understand recent shifts in the real estate market in Ontario Learn about effective ways to generate off market deals In this episode of the Black Wealth Effect Podcast, host Mario Griffiths provides updates on the show and shares recent business updates. He discusses the current market conditions and the impact of interest...
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Insider Secrets to Virtual Wholesaling
Black Wealth Effect
Virtual wholesaling is an innovative and practical business venture into global real estate. Technological advancement has made investing in real estate across the border a reality. However, just like in any business, there are nuances unique to different markets that every investor should understand. In this episode, you'll be able to: Learn about virtual wholesaling: Differences and Similarities in Canada and the U.S. Understand the power of networking and building relationships in real estate Learn to overcome challenges and ethical considerations in wholesaling Learn tips for...
info_outlineWe look forward to what this year has to bring with hope and excitement, but we also never forget to reflect on the year that was, relishing the experiences we had and what they taught us.
In this episode, Mario and Ron discuss what it takes to be in the real estate investing business. In addition, they share with us their 2022 investment deals and projects, challenges they overcame, and valuable lessons learned.
As real estate investors who continue to grow their portfolios, let's hear them talk about what's coming up for them in 2023, the strategies they have in place, and how they continue to deliver value in the real estate space.
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Topics Covered:
01:36 - Mario and Ron's significant learnings in 2022
07:52 - What Mario and Ron would have done differently in their strategies if they were to start again
10:54 - Looking back at these deals and projects that mean so much to Ron [ plus the invaluable learnings from doing these deals]
15:45 - Important thoughts on BRRRRs and flips
16:46 - Mario sharing a successful BRRRR project in 2022 [ plus touching on the value of the power team and due diligence, having a contingency fund and plan]
19:24 - Priorities, plans, and goals for 2023
23:34 - Ways Mario and Ron are delivering value this year 2023
Key Takeaways:
"Being comfortable with stress testing our portfolio. Be comfortable with the numbers, more or less. And if the numbers don't work, don't try to massage it; it just doesn't work." - Ron Christopher
"A lot of us, we try to focus so much on acquiring that next property. And we don't focus a lot on stabilization and what that would actually look like after we acquire." - Ron Christopher
"You probably shouldn't buy anything requiring a lot of renovation just to keep your costs low. And that way you'll be able to refi at a good value." - Ron Christopher
"Real estate investing is truly a long-term investment strategy. And it's not a kind of get-rich-quick tactic out there." - Mario Griffiths
"In terms of setting goals and thinking about what financial freedom looks like for you? What lifestyle do you truly want to live in 5, 10 years, and worrying less about how -- all the intricate details, and more on the who." - Mario Griffiths
"The importance of having a team and obviously due diligence are extremely important, especially when working with contractors for the first time. Because the things that you think might go wrong, likely will. And so you have to ensure that you have that kind of contingency funding in place and a contingency plan." - Mario Griffiths
Connect with Mario Griffiths:
- Facebook: https://www.facebook.com/marioginvest
- Instagram: https://www.instagram.com/marioginvest/
- LinkedIn: https://www.linkedin.com/in/mario-griffiths
Connect with Ron Christopher:
- Instagram https://www.instagram.com/ron.investor/