Reflecting Back on 2022 and Looking Ahead to 2023 with Mario Griffiths and Ron Christopher

We look forward to what this year has to bring with hope and excitement, but we also never forget to reflect on the year that was, relishing the experiences we had and what they taught us. In this episode, Mario and Ron discuss what it takes to be in...

Show Notes

We look forward to what this year has to bring with hope and excitement, but we also never forget to reflect on the year that was, relishing the experiences we had and what they taught us.

In this episode, Mario and Ron discuss what it takes to be in the real estate investing business. In addition, they share with us their 2022 investment deals and projects, challenges they overcame, and valuable lessons learned.

As real estate investors who continue to grow their portfolios, let's hear them talk about what's coming up for them in 2023, the strategies they have in place, and how they continue to deliver value in the real estate space.

Don't miss an episode - join our announcements email list http://eepurl.com/h6kR9b

Join us in our Facebook Group https://www.facebook.com/groups/1650395342027022

Topics Covered:

01:36 - Mario and Ron's significant learnings in 2022

07:52 - What Mario and Ron would have done differently in their strategies if they were to start again

10:54 - Looking back at these deals and projects that mean so much to Ron [ plus the invaluable learnings from doing these deals]

15:45 - Important thoughts on BRRRRs and flips

16:46 - Mario sharing a successful BRRRR project in 2022 [ plus touching on the value of the power team and due diligence, having a contingency fund and plan]

19:24 - Priorities, plans, and goals for 2023

23:34 - Ways Mario and Ron are delivering value this year 2023

Key Takeaways:

"Being comfortable with stress testing our portfolio. Be comfortable with the numbers, more or less. And if the numbers don't work, don't try to massage it; it just doesn't work." - Ron Christopher

"A lot of us, we try to focus so much on acquiring that next property. And we don't focus a lot on stabilization and what that would actually look like after we acquire." - Ron Christopher

"You probably shouldn't buy anything requiring a lot of renovation just to keep your costs low. And that way you'll be able to refi at a good value." - Ron Christopher

"Real estate investing is truly a long-term investment strategy. And it's not a kind of get-rich-quick tactic out there." - Mario Griffiths

"In terms of setting goals and thinking about what financial freedom looks like for you? What lifestyle do you truly want to live in 5, 10 years, and worrying less about how -- all the intricate details, and more on the who." - Mario Griffiths

"The importance of having a team and obviously due diligence are extremely important, especially when working with contractors for the first time. Because the things that you think might go wrong, likely will. And so you have to ensure that you have that kind of contingency funding in place and a contingency plan." - Mario Griffiths

Connect with Mario Griffiths: