2022 Outlook and Why Investing in Real Estate Isn't As Hard as You Think with Phylicia Walsh and Mike Allicock

Rather than owning their own home, some people believe renting offers greater freedom and flexibility. It relieves them of having to pay a mortgage for many years.

Wouldn't it be great to own a house without having to pay off the debt while building wealth at the same time?

In this episode, Phylicia Walsh and Mike Allicock share how they purchased a home without having to pay the loan and created passive income at the same time.

Besides stressing the importance of having a solid mindset, they discussed how it can help you buy your first home regardless of changing market and economic conditions.

Along with that, they emphasized the importance of setting goals as the first step to getting started.

Considering all the current market volatility, inflation, and high-interest rates, their golden nuggets and insights as realtors and investors help us see what the market’s current state is, where it is headed, and what we can do to find and maximize investment opportunities both short and long term.

What you will learn from this episode:

• Discover one investment strategy that helps you own a home, pays for your debt a,nd creates wealth.
• Learn about valuable hacks and tips for buying turnkey properties that meet your short and long-term goals.
• Find an investment portfolio that provides high and steady cash flows even with the rising market and high-interest rates.

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Phylicia Walsh is a client-focused and results-driven person who is available to provide you with a customized experience based on your unique needs. Whether you're looking to break into the market as a first-time buyer, sell your home, or leverage equity to buy more real estate, Phylicia takes an informative approach while guiding her clients through the real estate process, and combines her skills, passion, and knowledge to achieve each client's goals.

Connect with Phylicia Walsh:

• Instagram: https://www.instagram.com/justgetrealty/
• Email: phylicia@justgetrealty.com

Michael Allicock is a serial entrepreneur, real estate investor, and teacher who values the importance of building strong relationships and takes an informative approach while interacting with his clients. He takes the time to listen to his clients and understand their needs and goals to match them with the best financial solution.

Michael is passionate about financial literacy and macroeconomics and leverages his knowledge to make decisions that benefit his clients. No matter the situation, Michael is willing to listen and give a helping hand.

When he’s not busy helping clients, Michael enjoys spending time with his family, playing sports, and working on various renovation projects.

Connect with Michael Allicock:

• Instagram: https://www.instagram.com/miketheentrepreneur/
• Email: mallicock@ctmortgagesolutions.com

Topics Covered:

03:04 - What comes to Phylicia’s mind when talking about wealth and why she’s passionate about financial education and real estate?

04:05 - How she gets clients to relate to her story

04:49 - Maintaining work-life balance

06:22 - What makes their first property purchase the best decision ever [their first house hacking experience]

09:35 - Househacking and its benefits

12:13 - Valuable tips for buying turnkey properties

14:03 - Leveraging equity to buy their second property

16:47 - State of the market from a realtor and investor’s perspective

23:38 - How you can get into the real estate market and buy your first property even in today’s market [mindset is everything]

26:06 - Other valuable tips and advice to consider to get into real estate and buy your first
Property

28:18 - What gets Phylicia and Mike busy in their real estate business

29:01 - Finding good opportunities with short term rentals

Key Takeaways:

“House hacking was the best option, just because it was a balance between saving and not wanting to be so much in debt, and still having an ownership aspect and building wealth that way.” - Phylicia Walsh

“The first property doesn't have to be perfect [turnkey property that needs renovation]. I don't think people realize how inexpensive it is to actually fix these things and increase the value of your property. It's one mistake that I see a lot of people make, and I wish people could kind of have that foresight to see more value in these homes.” - Phylicia Walsh

“I'm not gonna say it's a crash right now. I will say we are definitely seeing a market correction. And I don't think it's over yet.” - Phylicia Walsh

“Understand what to look for when you're looking for a property that maybe you want to convert into a second suite. Sometimes you just got to take the leap, and you do the learning along the way. It might be a little bit more costly, but you're taking action, which is the most important.” - Mike Allicock

“With every correction comes opportunity. This is why it's so important to run your numbers properly and account for risk.”- Mike Allicock

“A lot of it comes down to mindset. As a first-time buyer, if you truly want to get in, have your goal in place as to why you want to get a house. What the true long-term future goal is because there's more to real estate than just owning a house.” - Mike Allicock

Connect with Mario Griffiths:

• Facebook: https://www.facebook.com/marioginvest
• Instagram: https://www.instagram.com/marioginvest/
• LinkedIn: https://www.linkedin.com/in/mario-griffiths
• Website: https://www.mariogriffiths.com/

Connect with Ron Christopher:

• Instagram https://www.instagram.com/ron.investor/