Real estate investing creates cash flow – just don’t buy negative cash flow!
If you can start with your name and how you got into real estate investing?
My name’s Jason Shackleton, I got started in real estate investment at a younger age. I was really interested in business entrepreneurship and passive wealth and trying to set myself up for a better future, financially. I started reading a lot of books, Don R. Campbells, anything about real estate I’d get my hands on. When I was ready to take action, I went online. I was looking for a realtor that could be on page with what I was doing, so Mike was actually blogging, and he wrote an article called “Never Buy Negative Cash Flow.” It was great, exactly what I was thinking. He read all the same books, so I knew I had to get in contact with him.
That’s how I got started and that’s how I met Mike, originally. Starting out, I was fairly young, didn’t have too much money, so he took me seriously when a lot of people really wouldn’t, right? I’m starting out, I don’t have that much money, and he was able to sit down with me and give me a shot. We went from there.
Doors to Wealth has property tours on a regular basis. Do you attend them?
I have attended the property tours. I’ve actually purchased two properties out of the tours. Which is fantastic! You get like-minded people going around, looking at properties and you learn a lot from other investors and stuff. It’s a really unique way to go about buying properties, more focused on investment properties. You learn a lot from others investors, and you see more properties in one day that are more in line with what you try to do. It’s a good way to go about it.
Now, as someone who started when they were young, what would you tell somebody who was looking to get into investing now?
I would do independent research first. You want to really learn for you — Learn as much as you can about real estate, and if the time is right for you to invest in real estate. If it is right, start getting your financing in line. Start learning about how you can save more money, how you can get started, because financing if you’re starting out and you’re young, is probably going to be your biggest challenge. You want to make sure that you have that in line.
If you’re young and starting out, I would say, “Try to get your financing and your credit score and everything lined up as good as you can.”
With “Doors to Wealth” there’s a monthly report that Michael sends out. How beneficial do you find that?
It’s very beneficial. The unique thing is about Mike is that he himself is obviously an investor, and having known the road ahead, it’s nice to see somebody that’s teaching you about different steps along the way. Not only is his newsletter informative, but it has the properties, listed properties that you can convert into legal units, properties that are legal that you can purchase right now. It’s a wide variety of information, facts and mortgage rules. It’s very informative. I would definitely recommend that as well.
For someone who’s getting into real estate, would you recommend the “Doors to Wealth” family and everything that they bring to the table?
Absolutely. I lean in on Mike for tenant agreements and for information. When it comes down to the legalization process, it’s really in tune with the local building codes and things like that. If you buy a property that can’t be legalized, you can find yourself — Now, it’s not going to create cash flow, it’s not going to do you want to do. I would definitely recommend the “Doors to Wealth” real estate team for what they can bring to the table.