1018 – Manage Your First Income Property with Riley Oickle Real Estate Investor’s Riley Oickle
In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to Riley Oickle Real Estate Investor‘s Riley Oickle.
Riley runs four different businesses based out of Canada – he primarily focuses on making real estate investments and also teaches others how to make their first real estate investments. He and his team also partner and run short-term rental properties, and they offer mentorship coaching that teaches other investors how to run short-term rental properties.
How do you figure out the investment model that works for you, though? Josh and Riley discuss active versus passive investing. Almost all beginner investors prefer passive investing, but you need to make sure you know what comes with the investments you choose. Determine your ideal path by assessing how you want to be investing and how you want that to be a part of your day to day. Passive investing is the more attractive option, but seek a mentor or guidance first before jumping into it.
Josh and Riley also discuss how the real estate market swings and how that affects movement in the market. Riley explains that multifamily investments are doing well. Because house building has slowed significantly in the last couple of years, many people are living in rental homes like multifamily apartment units. This works well for investors in the multifamily space, especially since vacancy is at an all time low and residency is at an all time high in the rental market. Riley also shares that people are also leaving urban centers and moving to more rural or suburban areas.
What about short-term rentals? Well, Riley shares that travelling is picking back up and now is the time to start looking to add short-term rentals to your portfolio. He has found that positioning yourself with short-term rentals in the right areas has been profitable for him.
Riley also talks about making the shift from private investor to mentor and coach. He shares that at some point, lenders tighten things up for private investors, and you need to decide how you’ll handle that. Pivot and find ways to conduct partnerships/joint-ventures or other solutions to help when you need to make some pivots.
Follow Riley Oickle on social media if you’re interested in starting in real estate investing and are looking to learn to make your first investment. There are also articles on Riley’s blog on his website geared towards those wanting to make their first investments. Check out Riley’s content to learn more.
Learn more about Riley Oickle Real Estate Investors at their website https://www.rileyoickle.com/.
Check out Riley’s blog at https://www.rileyoickle.com/blog.
Check out Riley Oickle on LinkedIn at https://www.linkedin.com/in/rileyoickle/?originalSubdomain=ca. .
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