Gary and guest co-host Christopher Hummel chat in this episode with good friend Ryan Carr, an investor since 2012 and investor coach who has evolved big time since Gary first interviewed him. Ryan always has about 7 or 8 projects going on at any one time, including being in the middle of authoring a new book called, “The Best & Highest Use Playbook”. Ryan understands the market like few do, and knows where to find great opportunities. Ryan is focusing right now on flips, wholesaling and new development. Gary and Ryan also discussed the “Napkin Formula”, a technique to quickly analyze a deal very quickly to determine if you’ll have a gain or a loss with any property. Too many beginning investors do not know the numbers, and either fail or get lucky with return on investments, so TUNE IN to learn about this quick and indispensable tool!
What you'll learn:
- How his upbringing played into his career choice, as his dad was entrepreneurial
- Money was NOT a topic of conversation growing up, and knew how hard his parents worked
- NOW money is a topic with his parents, and they are curious about his real estate investing
- A long discussion of the ‘victim card’ and now it relates to real estate investing
- Ryan says the ‘victim card’ is desire, not about how much money, or time - “if they don’t have the time, they are really saying they don’t have the desire”
- If you have time to watch Netflix or sleep in - your 9 to 5 is what starts making your income, but your 5-9 is what will get you ahead - what book are you reading, what extra shift are you taking, what business are you researching, WHAT are you doing with that time?
- Facebook is a HUGE time suck - just absorbing other’s content - you HAVE to put out your own!
- Ryan’s take on the market - stick with what you know
- Why Ryan believes a downturn in the market shakes out all the people not in it for the right reasons, and why it creates buying opportunities
- The difference between rural and city/suburban markets
- Why the higher end homes may be affected if the market shifts
- If there is a hiccup or dip in the market, government stimulus will likely prop the market up - the government doesn’t want homes
- Why real estate is the safest place to hold money, even during a crisis or pandemic
- Why supply and demand is in full effect now
- How he manages multiple projects at the same time, and what he does if he overbuys
- How he left his 9-5, and what he was doing with HIS 5-9 every night
- How his book “The Highest & Best Use Playbook” helps him determine the best use of the land, structure and the best use of his skills
- Keep the house or take it down? If he keeps it, rent or flip? If renting, renovating or keep it bare bones. 2. If the house is taken down, what is the best use of the land. 3. Does he have the skills to pull this off?
- Where is he finding the time to write a book?!
- Why real estate investing, buy and hold, is like buying your own ATM that never runs out of money
- What are the criteria Ryan uses to help people determine when to leave their full time job to become full time investor, when it costs you money to work
- And MORE!
Ryan’s Bio
Ryan Carr is a full-time real estate investor from the Greater Toronto Area. He specializes in
finding the highest and best use of real property, and coaching other to do the same.
Ryan has been known in the past for his knack at finding “hidden opportunity”, and is also a
regular contributor to Canadian Real Estate Wealth Magazine.
For a copy of his new book, go to www.TheHighestAndBestUse.com
Website: www.TheHighestAndBestUse.com
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Interested in learning more about Real Estate Investing? Visit https://www.smarthomechoice.ca