Your Way Into Real Estate

Get on the property ladder! Investors and first-time buyers alike eagerly absorb easy-to-apply steps to interacting with real estate, agents and tenants.

Flip Files: The Starter House 07/20/2023

Flip Files: The Starter House Flip Files: The Starter House Lean, clean, and quick is the name of the flipping game! In this episode, Natalie shares details about her latest flip house –a detached starter family home flipped in 3 days for a substantial profit! “What is the least amount of work for the least amount of money, and the shortest amount of time that I can invest in this place to get a higher return? How much of an extra return am I able to get if I do more? Is it worth me doing?” Natalie’s flipping process is streamlined and very successful. Systems are meant to work over and over, and hers does the trick every time. In a flip, time exposure is your best friend or your worst enemy. So, when she purchased this particular fixer-upper, she realized time wasn’t on her side as the market was changing by the week at lightning speed. Natalie determined that a mini-flip would lead to the greatest return. She repainted, repaired the HVAC, plumbing, and electrical issues, installed new carpet, and tackled some basic cosmetic issues that would spruce up the house, and increase the value. Every house needs a memorable element! Listen as Natalie tells you what she did with the interior doors! You won’t believe it works. Some key elements Natalie looks for in a flip is focusing her search on a family community. The house must have at least 3 bedrooms above grade, a reasonable main bathroom with a tub, and a good kitchen layout. It’s all about hedging risks. What is the market doing, who’s the likely buyer, and who is going to live here? What must you do to get a buyer to choose this house over something else? And how do you make it as aesthetically pleasing as possible knowing that people are buying at the top of their budget and they’re not going to have any money left over to do anything? How do you get buyers to say YES from the second they walk up to the house? “Flipping is awesome. It’s fun, it’s creative, and I have to say… It's so much more enjoyable to do it in 3 days. You get in, get out, make your money… done!” — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516936

Flip Files: How do you Decide What to Change? 07/20/2023

Flip Files: How do you Decide What to Change? Flip Files: How Do You Decide What to Change in a Flip? How do you decide what to renovate? What to let go? Where to spend your money? In this episode, Natalie Mitchell walks us through the best tips & tricks about renovating a flip, both big and small! “Some of the best returns I had on flips I spent almost nothing on.” A big misconception with flips is that adding high amounts of money adds the most value and increases the resale price. That is not the case. Of course, generally, the value goes up the more you invest, but there certainly is not a direct correlation. One important technique in a flip is “High vs. Low”. Do you have to use the expensive version, or can you use the cheaper DIY version? You need both high and low in most projects. The key is to balance the two, for both your bank account and the overall look of the remodel. It’s always about flow. Does it fit together? You don’t always need to have a big renovation to make a big change. Sometimes, the smallest things make the biggest impact. “Staging 1-2-3” is the backbone of flipping. The three tiers include (1) the things that are free, easy, or cheap; (2) changing items that require a little more effort or money; and (3) things that might cost a lot more money and/or effort but are worth considering. You don’t want to over-improve a home when doing a flip. You will not get your money back if you overspend. The key to a flip is to give the buyer the impression that there is more space than there actually is. Instead of trying to create more, try to find the potential in what you already have. It’s often the smallest spaces that create the biggest impact. Go neutral on the bigger elements. Be brave, be bold, and be first. And always ask for help! — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516744

Property Management 101 07/20/2023

Property Management 101 Property Management 101 In this episode, Natalie is joined by her personal assistant Lihi Edelman to flesh out what exactly professional property managers do. There’s so much that goes on in their roles and each day brings new excitement and surprises! This past month, they've had 4 dishwasher leaks, 3 washing machines die within the same week, an exploding toilet, hallway bugs, and a water tank blow. So, what's their role in this? To do all the work so that the investor/owners don’t have to worry about a thing. This also includes tenant evictions, move-ins and outs, inspections, professionally drafted leases, bylaw reviews, arranging for repairs and inspections, booking elevators and moves, and more. “Our tenants aren’t just renting an apartment or house; they’re renting us and our systems. The chances are, the more properties you have, the more stuff is going to happen.” They recognize it’s a partnership of where they're living and the experience they’re going to have living there. Natalie and her team have amazing automated systems for payments, repairs, communication, and tenants like the fact that this is what we do all day long and have the systems in place. It makes them easy to reach. They’ve also recognized there’s a growing resistance from tenants to not rent from owners that don’t properly manage rentals full time. If you want to learn more, Natalie’s second book, So, You Want to be a Property Manager? just came out and is packed full of stories and advice about starting your property management journey. There’s a lot that property managers do that renters don’t really think about. Understanding leasing is super important, you must be a management expert. “To owners- My job is for you to never think about your rental and you just receive your deposits every month. But, we get a little bit of everything. We want to do the best possible job for our owners.” — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516639

Investing in Real Estate is Different for Everyone 07/20/2023

Investing in Real Estate is Different for Everyone Investing is Different for Everyone Everyone has a unique story of their entrance into Real Estate. In this episode, join Natalie as she interviews investor Tamara Gehring. Tamara shares her unique story of getting into the business of real estate investing and how she’s diversified her housing portfolio. Instead of selling a home when it was time for a new one, Tamara has turned all previous homes into rentals. She’s gone from being someone who owns rental properties through the traditional lending process, to becoming a lender herself! Eventually, the banks will say “no” to giving you money and you must get creative. Preparation, education, and information are the pillars of a successful real estate investing business. Where do you find the money when the money runs dry? Started taking courses! Tamara found herself in mastermind groups, which led her to a joint investor deal as the lender. It’s pivotal to recognize that there’s always an opportunity to learn more and grow. If you stop learning you might as well quit. “I think that you’ve really opened people’s eyes to the fact that they don’t have to get their hands dirty to be a real estate investor.” Real estate is such a rabbit hole. You go down and there are so many other tunnels you get drawn into. It’s so exciting! There are SO many ways to find your path in this field. — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516612

The Funnier Side of Real Estate 07/20/2023

Building Series: Preserved Wood Foundations 07/20/2023

Building Series: Preserved Wood Foundations Building Series: Preserved Wood Foundations Let’s stop the stigma around Preserved Wood Foundations. In this episode, Natalie is joined by Verlin Koch, a structural engineer for 45 years who specializes in preserved wood basements. A popular foundation technique in Calgary, you have nothing to fear when you see one in a house. So, what are Preserved Wood Foundations? They’re built of engineered wood that has been specially treated in a way that prohibits breakdown and insect burring, then frames the basement out of that material using special details, such as galvanized nailing. They grew popular starting in the 1960s in Calgary. When the wood basements were catching on in the mid to late 70s–90s, there were a lot of wood basements being built. There’s a stigma around it… Should people be freaking out when they see one, instead of the typical concrete foundation? No! Wood basements are significantly warmer. Over time concrete degrades as well, and given proper maintenance, PDF & concrete basements have the same lifespan. All wood basements must also have an engineer design & inspector; thus, quality is always checked. Concrete foundations aren’t engineered or checked the same way. ! “It is absolutely imperative to have a specialized structural engineer come out and inspect your PWF basement because a home inspector is not experienced enough to give you an opinion on this certified engineered build. You need a structural engineer for those kinds of situations.” It has the same life span as concrete and there are no negatives. It’s nothing to be afraid of. If you become more educated about this, it will also level you up in your own real estate experience! — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | Verlin Koch - KTA Engineering: | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516516

Building Series: After the Big Move 07/20/2023

Building Series: After the Big Move Building Series: After the Big Move This episode is dedicated to the end of the seemingly long journey. You’ve purchased your home and now it's ready! You think it’s as simple as getting your key and moving in, but there’s a lot more that goes on behind the scenes! Natalie speaks once more with Corey Mitchell, owner of Sticks and Stones Custom Homes, about the wrap-up after a client moves into their new home. Marketing a home to potential buyers is tough and staging is critical! You must get good sales representation. Realtors doing open houses, advertising, a spec sheet- anything possible to attract a buyer. In return, buyers shouldn’t be afraid to make an offer on the new property. It’s no different than making an offer on a resale home. Buyers who offer early in the build process are going to get the best deals! “You don’t need a good lawyer when things go right, you need a great lawyer when things go wrong.” That is insurability. Things unintentionally go wrong about half the time and contracts are there to save you. There’s nothing wrong with protecting yourself, it’s just prudent. Always look for a great lawyer who can create the most detailed contract possible to protect you in your purchase experience. Buying homes under construction are more complex contracts for sure! What’s important to recognize is that just because something is new, doesn’t mean it's problem free. And just because something has a problem, doesn’t mean it’s a weak build. Sometimes there’s brutal weather that causes delays. Things happen! Things are going to go wrong but it’s how your builder handles your requests that says everything about who they are as a businessperson. “An experienced realtor that understands building is worth their weight in gold! They get that it’s all about minutia and not missing a single detail. This is true right down to what the toilet paper holder will look like.” — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | Corey Mitchell - Sticks & Stones Custom homes: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516492

What is a Condo? 07/20/2023

What is a Condo? Building Series: What is a Condo? In case you didn’t know, condos are awesome! In this episode, Natalie demystifies the wonderful world of condo buying and condo living. From bylaws to insurance and condo specialists, all this information will help equip you for your first condo purchase. Condos are basically a group of people with a shared style of living. It can also be the cheapest way to enter the real estate market. In many cases, the entry point is significantly lower than townhouses or duplexes, with the price being a real attraction to first-time buyers. All condos have monthly fees that you must factor into your budget. This is a lump sum that typically includes some utilities, professional management fees, and a reserve fund. Using Certified Condo Specialists when looking at purchasing a condo is critical. These specialized real estate agents provide a knowledgeable layer of discernment into what you will be agreeing to. From breaking down the financials and the bylaws, this type of agent will really do the work to find out all the nitty gritty you need to make a decision. Bylaws even control rental restrictions – a big deal if you are planning to turn your unit into a rental. “I personally can’t wait to retire in 8 years to a condo. I want someone else to shovel snow for me!. I’m moving into a condo for the lifestyle. It's easy, maintenance-free, and offers me the amenities I am looking for. It’s also an incredible opportunity for new investors to get onto the real estate ladder.” — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516453

Building Series: Draw Mortgages 07/20/2023

Building Series: Draw Mortgages Building Series: Draw Mortgages We’ve all heard about the traditional mortgage. But are you familiar with a better option if building a new construction? In this episode, Natalie and her guests discuss new construction and draw mortgages and how they differ from the everyday side of lending. In a draw mortgage, the dates of funding are different. Standard mortgages start funding the date you take possession of the home. In a draw, the fund starts at certain stages of the build process. Typically, it is your builder who determines the type of mortgage you will need. With a Draw mortgage, once the initial draw funds are at the foundation, the interest rate locks in for you for the entire next year until your home is built. Then the five-year term will start when you have occupancy. Thus, you’re locking in the mortgage rate for 6 years. If you are thinking of building a home, whether commercial, custom, or private, before even looking at pieces of land you need to talk to your mortgage professional. Get your prequalifying set up and be ready to go. Then, when you find that piece of land, you know exactly what to do to get it because your mortgage professional already knows what you need. “Always be as honest as possible with your mortgage professional as every detail triggers a conversation. Reach out to your professional, build that trust, and be completely open with them.” If you’re withholding information, that could be robbing you of a better opportunity, another product, or a way of keeping you out of trouble. It's about having the right conversations and understanding what the ultimate goal is. At the end of the day, do we want to be knee-deep in the trenches of the reno with you? We don’t need to. We do have to consider all of the risks. Those are the things we need to know about, and the bank wants to be informed of major structural renovations. — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516351

Building Series: Interior Design 07/20/2023

Building Series: Interior Design Building Series: Interior Design In this episode, Natalie is joined by LeAnne Bunnell, an established Interior Designer in Calgary, Alberta. They discuss designing a home from the ground up, renovations, furnishings, and how to make your home unique to you! “Being a designer is like being a detective. You have to get into the psychology of the client and homeowner to figure out what they’re really getting after.” We interchange the words designer and decorator often, but there is a massive difference. To become an interior designer, you need a license and extensive training. If you don’t have that, you can't use that term. As an interior designer, LeAnne takes a holistic review of the entire project and looks at it from the final user's perspective. Designers set the stage for your home, allowing glimpses of your personality to shine throughout. She discusses the design challenges of grand versus intimate spaces and the specific approach to each one. In interior design, you must consider the house from the client’s perspective, and then guide them through the process. Safety is a huge part of interior design when looking at building codes and specifications for the area. Lifestyle also comes into play heavily when designing a home. Are you coming home at odd hours? Then we have to consider motion-sensor lights and an alarm. These are key things for peace of mind down the road. Lighting designers are more specialized designers and they exist to save you money and give you the best results in the staging of your lighting. If you can’t see what you paid for, what’s the point? Start designing your spaces for YOU. Time is short. You need to love the space that you’re in and interior designers are dedicated to making sure your house truly feels like home. — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516321

Building Series: The Custom and Semi-Custom 07/20/2023

Friend or Foe: The Mortgage Rate Frenzy of 2021 07/20/2023

Friend or Foe: The Mortgage Rate Frenzy of 2021 Friend or Foe? The mortgage frenzy of 2021 In this episode, Natalie is joined again by mortgage expert Wendy Goodsir. They debate the current low-interest mortgage rates and what that means for real estate purchases and refinancing, both short-term and long-term. There are two kinds of interest rates: fixed and variable.). With the Pandemic and current economic situation, we’ve been experiencing very low-interest rates, close to 1.0%, instead of the average 3.5%! This has spiked a crazy buying market as people are looking to take advantage of “free money.”. Real estate markets in every Canadian province have exploded. “Real estate is always a long-term investment, never a short term to make money overnight.” In turn, Natalie and Wendy offer some wise future market predictions. Buying anything on speculation is usually a bad idea and you should buy for what your life is now. Even on a 5-year mortgage, you need a 15-25 year plan. Understand 5-year cycles. That discounted borrowing will end before your 5-year cycle does… and it will end before reality sets in. So, enjoy the discounted rates. If you’re anticipating any life change, pretend you’re at a realistic rate of about 3% now and take the difference between what you’re paying right now and what that would be when rates renew. If it's feasible, dump that difference into your savings account. There’s no way you're going to walk through the next 5 years of your life without a major life change. Bank the difference! — Enjoying the show? Please give a 5-star rating and review on Apple Podcasts. Every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag @nataliemitchell_reinvestor, and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | Wendy Goodsir: | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516219

Building Series: So You Want to be a Builder? 07/20/2023

How Your Success Changes Friendships 07/20/2023

How Your Success Changes Friendships In this episode, Natalie shares some sad but true realities of success in investing. “Friends for a reason, friends for a season, or friends for life?” Some friends will start to resent you for being successful. What do you do? How do you manage these stressful happenings? Be brave and surround yourself with like-minded people that will support YOU. “Even with one rental your friends will change, your relationships will change. Now, it’s more important than ever to build your support tribe for your business.” Can you think of a good friend you have who you lost when you became successful? People you thought were your rocks, your “tier one people,” as Natalie calls them, who as soon as you start killing it in your business, start to shrink away and become resentful. Because to them, YOU are the problem. You are making other women feel insecure and insignificant. The hard truth is, once you become successful, you start to lose some friends. It’s a real eye-opener, but this has nothing to do with you. Your success brings out other people’s feelings of being insignificant. Naturally, healthy women build relationships with, and seek out other women that are either like them, or that they can learn from. This highlights the importance of your support tribe. Your mindset will be different than someone who’s not investing in real estate. Create mentorship relationships! Create a two-way street of help and feedback with a like-minded woman. Finding other women who are investing isn’t limited to your own community or city. Instagram and Facebook are both great places to start looking! “People won’t always remember what you say, but they will always remember how you made them feel.” This is both a positive and negative thing. Find and cultivate relationships with women that are doing what you are doing. It’s not easy, but it is always worth it. Social Media: /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27516186

The Art of Tenant Selection 07/20/2023

Flip Files: The First Flip is the Best! 07/19/2023

Accounting Hacks for Real Estate Investors 07/19/2023

Women in Business 07/19/2023

The First Rental: Getting Your Hands Dirty 07/19/2023

Flip or Flop: The Urban Suburban Conversation 07/19/2023

Flipping: Love it or List it! 07/19/2023

Flipping: The What's How's And Why's 07/19/2023

The Buying Process 07/19/2023

Diversifying Your Investments 07/19/2023

Diversifying Your Investments "Diversifying Your Investments" with Natalie Mitchell and today’s guest and Senior Wealth Advisor Brad Ginet walk us through planning the entrance, exit, and growth within a business. When you’re starting a business, you need to plan your entrance and exit strategy. What are you going to do when you leave? As Benjamin Franklin famously says, “If you fail to plan, you plan to fail”. Sometimes our exit strategies don’t happen when or how we expect them to. So, how do we plan for that? Brad Ginet, an expert Wealth Manager, is dedicated to helping clients answer that question, by supporting their wealth through its growth and protection and finding ways to help their money work for them. “The only things certain in life are death and taxes …and taxes at death.” When someone passes away, most of their assets are deemed sold or in disposition. This means the asset would be sold to its designated next owner right before the owner passed away. Thus, all that gain will be taxed in the next tax return after this passing. It is up to the owner to delegate what would happen to their assets which need to be planned out in advance. Estate planning carries many unique situations, especially with real estate investments. Things become even more interesting with cross-border property ownership as well. There is a lot of planning that goes into a successful business and a profitable company. The information you can get at the beginning of the planning stage is critical in setting yourself up properly. When you work with an Advisor such as Brad, all he is technically doing is a diagnostic, and typically the fixes are usually quite simple. However, you just must do it. There is no reason to be afraid of this, it is a natural part of any business. If you are in real estate, you’re used to risk management. Tax is just another risk to deal with. As Brad says, “As an independent advisor, I have no stake in the game besides my client’s success. I have only interest in improving a client’s situation”. Today is the perfect day to take the leap into smart investment planning. Natalie Mitchell: | | Brad Ginet: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515274

Lawyers In The Real Estate Process 07/19/2023

Lawyers In The Real Estate Process "Lawyers in Real Estate" with Natalie Mitchell and today’s guest Amy Skinner dives deep into the importance of a lawyer in property purchases. From land surveys to types of ownership, so many legalities fall into a piece of property. Things go wrong about 40% of the time, don’t let that happen to you! The lawyer is the last stop in the transaction and is responsible for seeing everyone’s work during the process. If employed in a timely manner, a lawyer can catch a lot of issues and resolve them before they are a real problem. One common issue with new construction condos and developments is zoning issues. A mortgage cannot be advanced until we have something to register it on. A tendency at will come into play here as a document you will likely be signing during your purchasing process. This prepares you for generally five days of gaps and delays in your property between moving in and closing. As a purchaser, you do not yet own the property, but it provides a fixed amount of time for a buffer if issues occur during the closing process. Different types of ownership exist when looking at a piece of land. We have mineral rights (below ground), surface rights (roughly above or anchored to the ground), and air rights (location dependent). There are also leaseholds – a property that has its own restrictions or rules, such as on national park land. Properties also have different variations of leases – solo vs. 2+ names on a title. When sharing a title with more than one person, there are two options as well: tenants in common or joint tenancy. Lots of logistics are present in these terms, which further highlights the importance of a lawyer to ensure all is filed correctly for the purchaser’s confidence. Generally, when you are purchasing, on the day of closing you receive a property that is substantially in the same condition as the time of your last inspection/walkthrough. When something out of anyone’s control occurs (such as flood/fire) and the property is not substantially the same, it is unfortunate for everyone. Fortunately, the purchaser can get their money back, but it can get subjective. Two other reasons a buyer can walk away are due to property not being vacated, or real property report survey issues. “You don’t need to have a good lawyer when things go right, you need to have a great lawyer when things go wrong. That happens about 40% of the time.” Through this episode, Natalie and Amy share several examples of when things go unpredictably wrong to help piece these terms together. Things happen! Your lawyer is not a place where you want to skimp a couple of bucks. They understand the complexity of real estate law and all the details that go on within it. The difference in their rates is the quality of work that goes into it. If issues are happening to about 40% of all people, it might happen to you. Natalie Mitchell: | | Amy Skinner: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515232

Insurance Ins and Outs 07/19/2023

Insurance Ins and Outs "Insurance Ins and Outs" with Natalie Mitchell and today’s guest Courtney Johnson dives deep into the core principles of coverage and why it is so important. Everyone needs some type of property insurance, whether you own or rent. Insurance gets a bad reputation, but it's here to protect you! Insurance can be confusing. The core principle of insurance is to cover the losses of the few among the many to protect yourself against a potential financial loss. However, your premiums can go up due to the total party, even if you were not personally affected. An example of this could occur in a major flooding situation, where many have damages under the same plan. “Renters insurance is less per month than what I spend at Starbucks per week.” Everybody needs some kind of property insurance, whether renting or owned. In a renting situation, you as the owner are ultimately responsible for any damages. It is always on you to make sure everything is sorted out - you are running that business. Condo insurance is a special situation – you as the owner still need your own insurance, but it is more optional than when owning a single-family home. Condos have three different insurances available as well: building, unit (owner), and tenants (renting). Natalie and Courtney walk us through when each can get triggered in a condo situation. Insurance is there to protect you when you do something you should not – or when you do not do something you should. These are the things we do not think about… “it’s not going to happen to me”. Insurance is moving online, and it is just going to get easier and easier for people, so there is even less of a reason for people not to have it! It is even possible to write off the cost insurance as one of your expenses against the rent that you charge. It is smart to have, and it is critical! And if property damages have not happened to you, it just has not happened to you yet. Make sure you have great insurance. — Enjoying the show? - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag , and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515175

First Time Buyers 07/19/2023

First Time Buyers First Time Buyers with Natalie Mitchell and today’s guest Wendy Goodsir cover insider advice and knowledge in buying your first home. How do down payments, income level, and mortgages tie into the preapproval process? By the end of this episode, you will be ready for a confident first home purchase! How is COVID-19 affecting the housing market? And income? And how have things evolved through this pandemic in the market? These are questions we are all likely asking during these unprecedented times in the marketplace. Being an hourly vs. salaried employee plays into this, alongside looking at the past two years of income in evaluating gaps COVID-19 may have caused. The natural first step in the home-buying process is mortgage preapproval. There are two definitions must look at here: prequalifying and preapproval. Closing costs also come into factor in evaluating your approval, which can include home inspection, title insurance, fire insurance, and more. This is about 1.5% of your purchase price in Alberta, CA. “First-time buyers are my absolute favourite. There’s nothing more rewarding to me than a first-time buyer getting keys to their first place.” First-time home buyers each tell an individual story. You need to have your own experience through this process, and not be affected by someone else’s. Advice from Mom and Dad is appreciated, but rules have changed. Mortgage rules have changed. You do not want to ruin someone’s first-time experience buying a property. That will follow you forever. Natalie and Wendy’s job is to help and protect you through this experience, and they are ready to equip you now. — Enjoying the show? - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag , and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | Wendy Goodsir: | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515127

It's Not Always Easy, But It's Always Worth It 07/19/2023

It's Not Always Easy, But It's Always Worth It It is not always easy, but it is always worth it! with Natalie Mitchell and today’s guest Giselle Jones centers around one of Natalie’s tenants and her own real estate journey. Tune in to hear Giselle’s incredible story as a first-time home buyer at the age of 50. After renting an apartment under Natalie for the past seven years, the floor above Giselle’s unit flooded, causing her to camp out in her living room with all her belongings for too long of a while. This led to conversations about home ownership between them, and from there the rest is history. Giselle had a goal, made up her mind, and was going to do it. As a single first-time home purchaser, Giselle was required to come up with a 20% down payment, a large amount of income. And she had three days to do it. After finding her perfect place, she called and emailed everyone she could to help her out and managed to find all the money within the tight turnaround. “My confidence financially was really low (before becoming a homeowner), I always thought I had to do this with someone, with someone else’s help. Now, I feel fully empowered, I feel like “Giselle” with only one name. Like Sher. It’s very empowering.” If you are a tenant who is thinking about buying your first place, whether it be a condo or single-family home, there is no better time than right now to get your prequalification done to see what your options even are. And remember - there’s power in numbers. Women learn and gain their strength in power through conversations. Having conversations with people that form your tribe is empowering. Giselle and Natalie are here to encourage you to take the same leap of faith Giselle has. “A lot of times people think it’s too late. And I always say it’s never too late – the best time to get into real estate is right now.” — Enjoying the show? - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag , and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | Giselle Jones: /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515088

Lightbulb Moments 07/19/2023

Credit Demystified 07/19/2023

Credit Demystified Credit Demystified! with Natalie Mitchell and today's guest Wendy Goodsir returns for a discussion of the good, the bad and all the details on credit. they dig deep into lenders, credit history and what you should do today to be successfully set up for your first mortgage. Let them put you on the right track for your credit journey! Credit formulas can be confusing. It includes a mixture of payment history, amounts owed, length and types of credit, which can get confusing real quick. Past behaviour is the best indicator of future behaviour, and the higher the credit number, the better things look for us. As they pull these terms apart, we can all be better equipped to use credit to our advantage. A higher number is especially essential when looking into purchasing your first real estate property. “The higher the number the better things look for us.” Utilizing your credit to your advantage is crucial in this process. If you are just starting out, begin by getting a credit card and making consistent monthly payments back to build up history. And investigate an RSP loan. Keep your credit card balance between 50-75% of the credit card limit. For mortgages, we need to verify that you can pay this money back, and credit is the way to prove that. As we all begin to understand these concepts, we can more confidently dig into the mortgage lending process. How does all this play into the home purchase cycle? Lenders are going to start with your credit score in confirming whether you can purchase or not. A great mix of credit is what they are going to be looking at. The Total Debt Servicing Ratio (TDSR) is a magic number that shows if you will qualify for your mortgage. A small behaviour can have a catastrophic consequence on your ability to qualify on your TDSR. But there are solutions to any credit bracket. And this team is here to help you get your feet on the ground. — Enjoying the show? - every review helps others find the podcast! As a thank you for the review, you'll get the first three chapters of my book for free! Post a screenshot of your review on Instagram, tag , and I'll send you the first three chapters of “Investing In Her-Self: How A Working Single Mother Created Wealth Through Real Estate and How You Can Too!” — Natalie Mitchell: | | | Wendy Goodsir: | | /episode/index/show/f8469870-7475-4c57-99c3-1c39148b6568/id/27515031

Your Way Into Real Estate

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