Pre Construction 101 and Best Practices to Grow Your Buying Power with Jayden Kennedy
Release Date: 03/31/2023
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info_outlineAre you considering investing in pre-construction real estate but you're worried about the current economy? Despite the challenges, pre-construction as an investment strategy offers a way to maximize your buying power and potentially reap big rewards. Although the pre-construction process may appear daunting and intimidating, understanding the fundamentals and following accepted practices can reduce risks and increase your likelihood of success.
In this episode, Jayden outlines three tactics for preconstruction investors to generate income, as well as tips to increase your purchasing power.
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What you will learn from this episode:
- Discover essential guidance for making investment choices and top tips for buyers and sellers in today's market climate.
- Uncover strategies to gain money as pre-construction investors even with today's interest hikes.
- Stay informed of market trends and forecasts to find better opportunities for success.
Jayden Kennedy is a Real Estate Broker who was born and raised in Durham Region. She has spent most of her life engaged with the community through leadership, volunteerism and sport. While attending the University of San Diego in California on a volleyball scholarship, Jayden became interested in real estate and obtained her license when she returned from playing professional volleyball overseas.
Jayden is extremely passionate about bridging the gap between financial literacy and real estate acquisition so that people, especially those within marginalized communities, can build generational wealth through real estate. Her ultimate goals are to 1) both empower and inspire those around her and 2) normalize financial conversations at the dinner table.
Connect with Jayden Kennedy:
Topics Covered:
03:20 - From a volleyball player to a real estate investor
05:06 - Taking a look at her second deal [How being resourceful got her a second investment deal]
06:52 - Couldn't emphasize enough the value of networking
07:08 - One big advice she would give herself early on in her investing journey [creating a financial plan and relationship with money]
08:34 - How financial literacy sets you up for success in life
09:52- Top tip you can do to get into the market even with today's interest hikes [plus some market trend forecast for the coming year]
12:31 - Significant advice for buyers and sellers at the current market
14:04 - Seeing things on a brighter perspective when it comes to property appreciation
14:51- Pre-construction versus resale strategy [and finding discounted properties in today's market]
15:37 - How to make money as pre-construction investor
17:41 - Resources to widen your knowledge on pre-construction and resale strategies [plus valuable advice to purchase cheapest pre-construction deals]
18:31 - Key considerations when buying pre-construction properties [plus ensuring your peace of mind and employing quality contractors]
22:29 - Addressing essential pre-construction regulations [inclusionary zoning]
25:46 - Jayden's overall goal when it comes to her real estate investment journey and what you can take away from what she shared
28:12 - Idea for expansion and accelerating your building of wealth
Key Takeaways:
"If you cannot qualify on your own, one of the ways in which you can get into the market is through joint ventures." - Jayden Kennedy
"My biggest piece of advice is to create a relationship with not only, one, your spending habits and understand what your spending habits are, but, number two, creating a relationship with your credit." - Jayden Kennedy
"A lot of people think that we're experiencing a crash. I'm simply saying it's a correction. And the main issue is not that there's a lack of demand, there's a lack of people who can actually qualify due to the interest rates." - Jayden Kennedy
"It would make more sense to purchase a resale property, have that appreciate for the five years that these condos are gonna be completed." - Jayden Kennedy
“If you are a buyer, now might actually be a good time to purchase an assignment, which is where someone sells their contract to you prior to it completing, because you'll be able to get a newer unit at a discounted price because these are distressed purchases.” - Jayden Kennedy
"If you are looking to purchase a pre-construction development, number one, you always wanna ensure that you're purchasing during the first round because that is going to be the absolute cheapest.” - Jayden Kennedy
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/