Episode 82 - The Life of a Millionaire Mom w/Susan White Livermore

Gary chats in this episode with Susan White Livermore, also known as the Millionaire Mom. Gary and Susan sat down in person to talk about investing, Susan’s role as a coach, and how the pandemic has changed the way we do business. They also touched on Susan’s childhood and the fundamentals she picked up from her parents; her coaching programming from beginning to end; and her transition from the corporate world to self employment.

What you'll learn:

• How her parents involved her and opened financial dialog at a young age
• What prompted Susan’s move from the corporate world into real estate
• How her brother’s challenging financial situation changed her outlook
• How he bought his first house while in debt, with no credit and NO job
• Why he was fearless and how it changed Susan’s course of action
• Why she bought her first house with her dad
• She wasn’t aware of any bylaws around renovations at the time
• She started with renting her house out to students
• Why it’s better to have a mix of male and female tenants in the same property
• Why she suggested that tenants bring their own co-tenants
• Why she decided to try investing before trying to find another job after maternity leave
• She started spending money on learning creative financing, wholesaling, etc
• She convinced her brothers and dad to join her in her process
• Don’t try and hit a home run with an investment - positive cashflow, good area, good pool of tenants, good vacancy rate, transit, etc
• Why you want a big pool of potential tenants so that you don’t have to recycle them
• Is your property close to employment for your tenants
• Why age of the area is somewhat important to your tenant pool
• Her big mistake was moving to Calgary, and her properties were impacted by the oil and gas industry - make sure your market isn’t one industry specific
• How there are various sources of data that can help you determine if your market will grow and by how much
• Why investment properties, especially cottages are in demand due to lack of travel
• Why she focuses on what she controls and lets the rest go
• Why investing is a never ending process and be proud of your mistakes, as long as you learn from them!
• How much of success does Susan attribute to mindset
• Why your ‘network’ is your ‘net worth’
• And MORE!

Susan’s Bio

Susan White Livermore knew she didn’t want to work in corporate anymore, and when the option of her first real investment property buy presented itself, she jumped in. However haphazardly she entered the investment property world, in just over a year she had 13 properties, had earned the “Newcomer of the Year” award from Canadian Real Estate Wealth Magazine (2011) and the “Top Player” title from the Real Estate Investment Network (2012). With properties in Ontario and Alberta, she continues to steadily build her unique investment business focusing on legalized suites.

Susan began coaching and teaching from the stage as more and more curious investors sought her out to learn her strategies. Now known as Millionaire Mom, Susan’s approachable coaching platform is suitable for everyone from first time buyers to seasoned investors.

“The Millionaire Mom way is about showing people, in a really honest and fun way what I haphazardly stumbled across–a simple idea that proved undeniably fruitful and dependable for me. I’m happy to offer other people the funny stories of the sometimes messy events that have naturally occurred in the process of building a portfolio one property at a time. That’s what Millionaire Mom is all about!”

Contact Susan

Insta: Millionaire.mom.enterprises       

Web: Millionairemom.ca

Events: https://millionairemom.learnworlds.com/

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Interested in learning more about Real Estate Investing? Visit https://www.smarthomechoice.ca