Search
Generic filters
Filter by Categories
All Condos
Ask Andrew
Hi-Rise (West) Inc.
Insights
New Condos by City
Ajax
Aurora
Barrie
Beamsville
Bolton
Bracebridge
Bradford
Brampton
Burlington
Caledon
Calgary
Collingwood
Dundalk
Halton Hills
Hamilton
Kingston
Kitchener
London
Markham
Thornhill
Milton
Mississauga
Cooksville
Port Credit
Square One
Montreal
Newmarket
Niagara Falls
Oakville
Oshawa
Ottawa
Pickering
Richmond Hill
Smithville
Stayner
The Blue Mountains
Toronto
Amesbury
Baldwin Village
Bayview Village
Beaches
Bedford Park
Briar Hill
Brockton Village
Cabbagetown
Canary District
Casa Loma
Chinatown
Church & Carlton
Church & Wellesley
Church St. Corridor
Clanton Park
Corktown
Corso Italia
Danforth Village
Davenport
Davisville Village
Distillery District
Don Mills
Downsview
Downtown
East Junction
East York
Eglinton East
Eglinton West
Entertainment District
Eringate
Etobicoke
Fashion District
Financial District
Flemingdon Park
Forest Hill
Garden District
Greektown
Harbourfront
High Park
Kensington Market
King East
King West
Leaside
Leslieville
Liberty Village
Little Italy
Little Portugal
Long Branch
Mimico
Moss Park
Newtonbrook
North York
Oakridge
Old Town
Ottawa
Parkdale
Regent Park
River District
Rosedale
Rustic
Scarborough
St. Clair West
St. James Town
St. Lawrence
Stockyards
Summerhill
Swansea
Tam O'Shanter-Sullivan
The Annex
The Junction
The Kingsway
The Queensway
Victoria Park Village
Wallace Emerson
Waterfront
Weston
Willowdale
Yonge & Bloor
Yonge and College
Yonge and Dundas
Yonge and Eglinton
Yonge and Lawrence
Yonge and Richmond
Yonge and Sheppard
Yonge and St. Clair
Yorkdale
Yorkville
Vaughan
Maple
Thornhill
Waterloo
Whitby
Whitchurch-Stouffville
Whitechurch-Stouffville
New Condos by Deposit
10% Before Occupancy
15% Before Occupany
5% Before Occupancy
New Condos by Developer
Acorn Developments
Adi Development Group
Allegra Homes
Alterra Developments
Altree Developments
Amacon
Amexon Development
Andrin Homes
Angil Development
Aoyuan International
Aragon Properties Ltd
Armour Heights Developments
Artlife Developments
Ashcroft Homes
Aspen Ridge Homes
Balder Corporation
Ballymore Homes
Bazis Inc
Benvenuto Group
Biddington Homes
Blackdoor Development Company
Block Developments
Bloomfield Homes
Branthaven Homes
Briarwood Development Group
Brixen Developments
Broccolini
Brookfield Residential
BSäR
Camrost-Felcorp
Canderel Residential
Capital Developments
Carlyle Communities
Carriage Gate Homes
Carttera Private Equities
Castlebridge Development Group
Castleview Developments
CentreCourt
Centrestone Urban Developments Inc
Centreville Homes
Chestnut Hill Developments
Choice Properties REIT
Choo Communities
Cityscape Development Corporation
Cityzen
Clifton Blake
Collecdev
Concert Properties
Concord Adex
Condoman Developments Inc
Conservatory Group
Constantine Enterprises Inc.
Consulate Development Group
Context
Core Development Group
Cortel Group
Craft Development
Creek Village Inc.
Cresford Developments
Crown Communities
Crystal Homes
Cystal Glen Homes
Daniels
Davpart
DC&F Corp
Devron
Diamante Development
Diamond Kilmer Developments
Diamondcorp
Distrikt Developments
Doornekamp Construction Ltd
Dormer Homes
Downing Street Group
Dundee Kilmer
Eden Oak
Edenshaw
ELAD Canada
EllisDon Capital
Emblem Developments
Empire Communities
Evans Planning Inc
Fernbrook Homes
Fieldgate Urban
Fifth Avenue Homes
First Avenue Properties
First Capital
Flato Developments
Forest Hill Homes
FRAM + Slokker
Freed
G Group Developments
Gairloch
Gary Silverberg
Gemterra Developments Corporation
Genesis Homes
Georgian International
Globizen Developments
Gordon Wells Ltd.
Graywood
Great Gulf
Greatwise Developments
Greenfield Quality Builders
Greenland Group
Greenpark Group
Greenwin
Greybrook Realty
H&W Developments
Harhay Developments
Harlo Capital
Haven Developments
Homes by DeSantis
Hullmark
Hyde Park Homes
Icon Homes
IN8 Developments
Investissement SM Immobilier
JCF Capital
Kaleido Corporation
Kalovida Canada Inc
Kaneff Corporation
KBIJ Corporation
Kingdom Development
KingSett Capital
Kroonenberg Group
Lalu Canada
Lamb Developments
Lancaster Homes
Lanterra
Latch Developments
Laurier Homes
LCH Developments
Les Entreprises QMD
Liberty Development
Liberty Hamlet Inc
Lifestyle Custom Homes
Lifetime Developments
Limen
LJM Developments
Madison Group
Malibu Investments
Manorgate Homes
Marlin Spring Developments
Marydel Homes
Mattamy Homes
Medallion Capital Group
Menkes
Metropia
Metroview
Minto
Mizrahi Developments
MOD Developments
Nascent Developments
New Horizon Development Group
NOCO Development Company
Norstar Group of Companies
North American Development Group
North Drive
North Edge Properties
Northam Realty Advisors
Nova Ridge Development Partners
Old Stonehenge
ONE Properties
One Urban
Options Development
Oxford Properties
Parallax Development Corporation
Patry Inc Developments
Pemberton Group
Phantom
Phelps Homes
Pinnacle International
Platinum Vista
Plaza
Podium Developments
Primont Homes
ProWinko
QuadReal
Queensgate Homes
RAJACan Developments Inc.
ReBuilt Construction
Reids Heritage Homes
Reserve
RioCan
Rise Developments
Riverking Developments
Rosehaven Homes
Rosewater Developments
Rowntree Enterprises
Royalpark Homes
Royalton Homes
Saxon Developments
Scholar Properties Ltd
Sequoia Grove Homes
Seven Numbers Development
Sherwood Homes
Shiplake Properties Limited
Sierra Building Group
SilverCreek Communities
Slate
Solmar Development Group
Solotex Corporation
St. Regis Homes
St. Thomas Developments
State Building Group
Sundance Homes
Sunny Communities
TAS
Tercot Communities
The Remington Group
The Rockport Group
The Rose Corporation
The Sher Corporation
Tiffany Park Homes
Time Group Corp.
Treasure Hill
Tribute Communities
Tricar
Tricon Developments
Tridel
Triumphant Group
Trolleybus Urban Development Inc
Trulife Developments
United Lands
UrbanCapital
Urbane Communities
VANDYK
VanMar Developments
Vermilion Developments
Vintage Park Homes
Wabash Heights Developments Inc
Westbank Corp
Westbank Corp. and Allied Properties
Westdale
Zancor Homes
New Condos by Occupancy Year
2019
2020
2021
2022
2023
2024
TBA
News
Podcast
True Condos Approved
Uncategorized
Videos
Filter by content type
Taxonomy terms

How to Have the Right Mindset for Real Estate Investing

Podcast Featured Image 58

What separates the most successful real estate investors from those who are not often comes down to mindset. In this episode, Andrew la Fleur talks about some of the keys to success for the first time investor, and we get to hear about how Shane – one of Andrew’s recent clients – made the leap from thinking about real estate to taking action!

Click Here for Episode Interview Transcript

Andrew la Fleur: Hi and welcome back to the show. On today’s show I want to talk to you a little bit about mindset. I think the right mindset as a real estate investor is key, is critical to having success. I think what separates those who are successful real estate investors from those who are not are those people who are just constantly on the sidelines, thinking about it, researching it, talking about real estate investing but not actually doing anything and not taking any action. I think the difference comes down to their mindset. There are many aspects, obviously, to that and to having the right mindset, but there’s just a couple of things I want to talk about today.

Before I do that, I want to just tell you a little story and introduce you to a client of mine. His name is Shane, and Shane is a first-time investor. He just purchased his first investment condo in this past week with me. It’s always very exciting to work with first-time investors and to help them achieve that first property in their portfolio, and it’s very exciting just to look forward and understand … me knowing what’s ahead, in store for them and just the great, great stuff that is still to come once they get the ball rolling, once they make that first investment purchase.

I was talking to Shane when he was signing for his unit at Capital Hall. He purchased a condo at Capital Hall in Ottawa. I said, “What was it about this opportunity that caused you to sort of take the leap and make this first investment?” What he said was very interesting and I think very insightful and very prescriptive for other first-time investors or people thinking about getting into it, and that’s what I want to talk to you about today.

He said he’s been reading the book Money: Master the Game, which is Tony Robbins’ new book, and I recommend you take a look at that if you’re interested. I haven’t actually read the book myself, I should mention, but I’ve listed to probably 4 or 5 podcast interviews with Tony. Just Google Tony Robbins podcast and there’s so many great interviews out there right now because he’s promoting his book in the past few months.

Basically, the concept of the book is sort of exposing the myths or the problems with the investment industry and the Wall Street, Bay Street financial world and helping people realize that if you just stick your money in the markets or if you just buy mutual funds and stuff like that, you think that’s a good way to create wealth, unfortunately, you’re sadly mistaken. The vast majority of people who do that get nowhere. There’s much better alternatives out there and much better ways of generating wealth. That’s sort of the crux of the book. I think Shane was basically saying that book really got him thinking about how money works and what is possible out there. It led him, obviously, to real estate, investing in real estate.

The other thing he said which I thought was very interesting is that he hadn’t bought real estate until now because part of it was just he didn’t know anyone who had done it. He sort of thought, he said, that real estate investing was something he would do later in life, like in his 50s or something is how he put it. He’s a young guy, he’s in his 30s, so he was thinking it’s something you do much later in life. I suppose we often think things like that. When we have big goals or big aspirations in our mind, we think they’re not attainable for some reason in the present. We think they’re something that’s attainable only much later in the future. It’s not something that’s in front of us.

That, I think, is very telling in and of itself. I would say to you, I guess, first off, if you are thinking about getting into real estate investing but if you’re thinking it’s not something for right now, then I would challenge you to, I guess, challenge your thinking on that aspect and to think, well, what if it is possible, what if it is something you can and should be doing right now that could actually benefit your future greatly if you got started today instead of some time later in the future?

From that, he said he was talking to one of his friends who happens to be one of my clients, and he discovered that his friend had bought a condo for investment. Actually, his friend had bought multiple condos for investment already. That was also a moment for him to say, “Whoa, wow.” It sort of was that wakeup moment to say, “Wow, this is something that is possible and something that you can do right now.”

He started doing his own research and started, obviously, understanding the market and he was reading Tony Robbins’ book and things like that and eventually he got himself together and he’s now made the leap, he’s a real estate investor. Congratulations to you, Shane, if you are listening to this podcast and congratulations to all my investor clients who are making their first investment this year. I helped so many people this year who were first-time investors and it’s always very exciting to do that.

It was interesting. The Shane story I think for me rang a bell especially because it was very reminiscent of my own story and my own path to getting into real estate investing, because just like Shane, I didn’t know anybody who was a real estate investor. I didn’t know the first thing about real estate or about investing in real estate. It was just not something that I was ever exposed to growing up. It wasn’t until much later on that I did discover real estate and I did sort of stumble into it.

Now, of course, my life is completely changed through real estate investing and my future is basically wide open, and I’ve seen the possibilities you can do through real estate investing. I didn’t know anyone either, and so I often think for me how much further ahead I would be if I had somebody in my life much earlier to show me and teach me about real estate.

Another point for today is if you don’t already, then I encourage you to find a mentor, find somebody who’s already invested in real estate successfully and follow their lead. Whether it’s a formal or informal mentor relationship, the point is look to others who have done it and just follows their example. You don’t need to reinvent the wheel. If you see somebody who’s successful, then find out what they did and do it too.

The last thing I think is just more of a general statement, and that’s the importance of setting goals. For Shane and also for myself, we didn’t think real estate was possible, so we didn’t have that as a goal, or if it was a goal, it was sort of a vague goal for some point in the future. I would encourage you if you’re new to investing especially is to set that goal that you want to invest in real estate and put it in front of you and make it something that you’re working on in the present, not something that is just out there in the future as something vaguely that you might get to one day.

You need to make that decision. That is such an important thing is make that decision that it’s something you’re going to do and you need to set that as a goal and you need to put a timeframe on it. I encourage you to even write it down and tell at least one other person that this is something that you want. When you do that with any goal, it becomes much more real and the chances of you attaining it are much, much higher when you do that.

I guess going back, the last thing I would add is on the mentor point. If you don’t have a mentor, if you need somebody, then I’ll just put my hand out there and volunteer for you. Go ahead and use me as a mentor if you don’t have anyone and just follow my lead as a successful real estate and condo investor. I can help you, and that’s exactly what I do, is I can show you what I’ve done and show you what’s been successful for me and show you everything I’ve learned.

Obviously, if you’re listening to this podcast and you’re subscribing to my blog and you’re getting my e-mails, you understand what I’m about and how I do teach people how to invest in condos. If you’re new, if this is the first thing that you’re listening to or hearing from me, then I’ll just, yeah, go out there and put the invitation that you can use me as a mentor in this respect.

Yeah, that’s the podcast for today. I hope you found that interesting, hope you found that useful. Congratulations again to Shane and to all my other first-time investor clients this year. If you’d like to learn more about this or about Capital Hall condos, which is where Shane decided to make his first investment, you can send me an e-mail, andrew@truecondos.com, or you can go to truecondos.com any time and sign up for the details, the investor package on Capital Hall.

Thank you very much and have a great week.

Thanks for listening to the True Condos Podcast. Remember, your positive reviews make a big difference to the show. To learn more about condo investing, become a True Condos subscriber by visiting truecondos.com.

Tags