Mentoring Mathieu – The Insurance Broker – Session 2


“Long-term what are you trying to accomplish and will this help get you there?” This is mentoring session #2 with Mathieu – The Insurance Broker. 

Show Notes:

  • 1:28 – Mathieu’s very first eviction
  • 3:39 – Jay’s experience having to evict 3 of 4 tenants 
  • 5:12 – The “woe is me” mentality
  • 6:35 – A bad experience Mathieu had with a potential tenant that made him not invest
  • 8:05 – Why the area Mathieu is investing in now is a “depressed area” but he still wants to invest there
  • 10:23 – The high Pennsylvania property taxes and why this is an issue for investing
  • 12:07 – The update on Mathieu’s storage units
  • 15:03 – The decreasing number of blighted properties available with more investment in Pennsylvania
  • 17:23 – Being “right” in the long-term with investing
  • 18:40 – Refinancing the HELOC
  • 20:10 – Why you need to be careful with a portfolio loan
  • 21:27 – The two exit strategies for Jay’s properties
  • 22:32 – Jay’s duplex that he just sold for a 428% return in 3 years
  • 23:41 – What the banks are telling Mathieu in regard to his potential investments
  • 25:20 – What happened when Mathieu surprised his contractor with an unexpected inspection
  • 27:25 – Diversifying your investments
  • 29:30 – How Jay handles appliances for a 42-unit building
  • 33:02 – The actual income from offering laundry services
  • 36:08 – Why Mathieu is torn on doing the portfolio loan
  • 37:04 – Thinking about what you want to accomplish in the long-term

Links:

Connect with Mathieu

Quotes:

  • “If you can’t rent a property for more than half a percent of what it’s worth you should have enough equity in that thing to sell it. It’s time to move on.” – Jay
  •  “I do – I’ve got mobile homes, I’ve got apartment complexes, single-family homes – and they’re all in different cities so I’m diversifying.” – Jay 
  • “Long-term what are you trying to accomplish and will this help get you there?” – Jay
  • “It’s not about what’s convenient this month or next month, but what’s going to be convenient in 10 years or 20 years.” – Mathieu

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