Real estate investing has long been seen as a safe, sound, and reliable form of investment. But a market correction can have a big impact on real estate investors, leaving many feeling overwhelmed and wondering how to thrive in a market downturn....
Real estate investing has long been seen as a safe, sound, and reliable form of investment. But a market correction can have a big impact on real estate investors, leaving many feeling overwhelmed and wondering how to thrive in a market downturn.
There are periods of time when prices dip which can result in losses. While this can be a difficult time for real estate investors, it doesn’t have to be the end.
It’s important to take a step back and assess the situation. It’s a good idea to keep tabs on the market and know when to adjust your strategy.
It’s also essential to be creative. By following a few simple tips, investors can survive market corrections and come out ahead during various market conditions.
In this episode, Austin Yeh shares key insights to consider when finding deals in today's market so that you can be successful in your projects. He reflects on the most difficult challenges he faced and the important matters he needed to address in his investing journey, providing valuable lessons that can be applied to running a successful real estate investing business.
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What you will learn from this episode:
Austin Yeh is an experienced real estate investor, owning and controlling multi-million dollar assets under management at the age of 25.
He co-founded Ontario Property Deals which uses proprietary marketing systems to find off-market, private, and discounted properties for real estate investors and fix-and-flippers. Scaled the business to be a 7-Figure revenue business with multiple full-time employees within the first year of operations.
He also founded the RISE Network community, one of the largest real estate investor groups in Ontario for aspiring, intermediate, and advanced real estate investors. At the same time co-founded the RISE Real Estate Investing Podcast, a top ranked Canadian Real Estate podcast which aims to educate and inspire the everyday person to take control of their financial future through real estate investing.
He is a University of Toronto Graduate specializing in Finance and maintaining an academic excellence (3.89 cGPA) while taking on executive roles in (inter)national organizations. He has a versatile skill set in a multitude of areas achieved by working in consulting, auditing, financial planning, and data and analytics (D&A).
Connect with Austin Yeh:
04:07 - What he would do now if he were to start investing all over again
08:25 - Facing a major challenge that tested his spirit but one where he got the most significant learnings
13:59 - What you should need to know about tenant laws, and important tips on location, and getting insurance
16:57 - Important points you need to think about when doing flip deals in today's market
19:12 - Creative conditions you can employ when dealing with multifamily properties [and how responsive are sellers when it comes to cash-for-keys clause]
21:00 - What his successful deals look like
22:17 - Mitigating issues involving tenants in cash-for-keys properties
26:22 - Resources to help you with market trend updates so you are in control of the situation
29:36 - Anticipating job losses in this downward market and how to pivot to stay afloat
32:42 - Seeing opportunities and avoiding risky markets in this time of volatility
35:16 - Helpful insights for how the market turns out in the coming months
40:23 - What he says to newbie investors who are taking it to the next level in their real estate investing business [the value of mentorship and coaching]
"If I was starting off investing again today, I would build that network of investors so you have someone to lean on as you go through that journey."- Austin Yeh
"For a lot of us, we follow a ton of social media influencers in the real estate space and everyone tries to grab the social media influencers' time. But that's not really the people that you should be reaching out to. Reach out to the people who have maybe one or two more properties more than you who are just slightly more experienced, but can still have the time to build a stronger relationship with you." - Austin Yeh
"One thing to be cognizant is the tenant laws."- Austin Yeh
"I can't stress enough that you wanna invest in a good location. And even if you choose to not invest in a great location, just make sure the current tenant quality is okay."- Austin Yeh
"One of the big things for me is that when I'm doing a deal, the numbers need to make sense off the bat. It needs to cash flow from day one." - Austin Yeh
"I need to see a clear exit usually within six months, ideally less than six months. I feel like the longer you are in the market, the more exposed you are to the fluctuations, especially with the uncertainty of everything going on." - Austin Yeh
"One of the big things I've been shifting towards in 2023 is to do less single-family homes and more smaller multi's where I can diversify the income among multiple people." - Austin Yeh
Connect with Mario Griffiths:
Connect with Ron Christopher: