Real estate is a part of my long term wealth building strategy so this particular episode is very meaningful to me.

Jack Gibson and Jeff Shechter are the owners of High Return Real Estate, a turnkey real estate investing solution, and today, they give us all the practical things that we need to know about growing our wealth through real estate.

Buy for cash flow and not for appreciation
There are three types of markets: cyclical, flat or stable, and hybrid.

According to Jack and Jeff, if you’re buying properties in the cyclical or hybrid markets, you’re not getting the most out of your bucks because you are investing mostly on fluff.

However, buying properties with a solid renter base, not for appreciation, in a flat or stable market is a much better idea!

Watch out for properties that are usually 15 to 20 minutes away from downtown, or close to an area that is currently undergoing gentrification, and in a city, where the flatness can be used to your advantage as an investor.

In other words, don’t “buy and pray.” Instead “buy and know.” Know how much cash flow and return on investment a property can potentially give you before you make a decision.

Increase your knowledge
Jack started listening to podcasts about real estate after he felt like he was done with the stock market. This led him to start buying and investing. He didn’t have much time for renovations, but he bought property and noticed that he was getting great returns. He also got more income from referrals, so he decided at one point to start a business out of it.

One thing lead to another. Soon, things just started growing and Jeff eventually got on board to help.

Jeff advises that instead of saying that you don’t know anything about real estate, just invest in the most passive option and increase your knowledge along the way. Buying a turnkey property is a good option for starters because it doesn’t involve too much work. Plus, it’s a great opportunity for you to learn the ropes.

Connect with people and build a network

Jack and Jeff run a podcast for their real estate company and it’s one of their ways of building their network and getting the word out there. According to Jack, “if you don’t build a network, you’re looking for work.”

For them, what you know and who you know are both important. However, who you know is more important because it was who they knew that brought in the business when they were still starting out.

Here’s a key takeaway from today’s episode: prove to people you know that they can trust you if they decide to do business with you.

Jack and Jeff also shared that when you don’t know something, you can always go to the people in your network and learn from their mistakes and successes.

There is so much more to learn about investing in turnkey real estate. Listen to the whole episode here and let Jack and Jeff give you more insights and valuable lessons.