Recently I was revisiting my guest appearance on an episode of Building Wealth Through Real Estate Podcast, I had the incredible opportunity to be a guest on El-Ray Noble’s show and YouTube channel. El-Ray is a highly knowledgeable and charismatic host, dedicated to empowering his audience with the tools and strategies needed to achieve financial freedom through real estate investing. What I like about El-Ray Noble is that as an immigrant to Canada he has taken the opportunity this great nation provides and done something with it. He is motivated, family first and focused on using Real Estate as a tool towards financial freedom.
Essential Real Estate Investing Tips
Financing Strategies, Building a Portfolio, and Overcoming Challenges
The Basics of Real Estate Investing
El-Ray and I delved into the essentials, starting with identifying investment goals and the different types of properties available. We highlighted the significance of thorough market research, understanding local real estate trends, and starting small to gain valuable experience. IN this way we really delved into our own personal experience on getting started in the real estate game. El-Ray shared practical steps on how to assess property values and the importance of location in real estate investments. Granted, his focus is on the local market of Edmonton, Alberta where he holds his Real Estate License. It just so happens that is where I owned most of my own rental portfolio and was also a licensed Realtor for 9+ years.
What are the right Financing Strategies for Real Estate?
We explored a variety of financing options, including conventional mortgages, hard money loans, and leveraging existing assets. El-Ray explained creative financing methods such as seller financing, lease options, and forming partnerships to pool resources. We also discussed the pros and cons of each financing option and how to choose the best one based on individual investment strategies and goals. Having experience with all these methods and The Infinite Banking Concept it created a fun discussion for us to go through!
The Keys to Building a Successful Real Estate Portfolio
We discussed the importance of diversification within a real estate portfolio, including balancing single-family homes, multi-family units, and commercial properties. I think it actually goes beyond this… you also need to consider diversifying in market sectors. What do I mean? Consider you have 4 houses in Edmonton, Alberta and when the Oil price drops all 4 are affected, yet you have 4 in Ottawa and they are not impacted at the same time. El-Ray shared insights on how to scale a portfolio strategically by reinvesting profits, identifying emerging markets, and continuously seeking new opportunities. IN other words… don’t sit idly by and wait for the market to take you out. Focus on growing your knowledge, skills and your assets at the same time. We also talked about the importance of risk management and having a long-term investment perspective. Real Estate cycles are fickle things and they often take years to work through a cycle. The ups are great…but the downs can last a long time!
Richard Canfield explains Cash Value in Whole Life and how to take policy loans out from the Life Insurance Company General Fund.
How Do You Overcome Challenges In Real Estate?
El-Ray candidly addressed common challenges in real estate investing, such as market fluctuations, tenant management, and property maintenance. Let’s all face it…it’s not all sunshine and rainbows all the time. Many of these things are not within your control…but where you can have influence and plan for them you can create more profitability. We discussed strategies for mitigating risks, including maintaining a cash reserve, thorough tenant screening processes, and staying adaptable to changing market conditions. El-Ray also shared his personal experiences and lessons learned from overcoming obstacles in his own investment journey. I was able to use some of El-Ray’s own stories to connect the power of Dividend Paying Whole Life which builds substantial cash values just like Equity in Real Estate as the perfect long term risk mitigation strategy to bolt onto every Real Estate Investors gameplan. In fact, here at the 17 minute mark I shared some real world personal stories of my own.
Key Takeaways for Real Estate Investors
- Education is Key: El-Ray emphasized the importance of continuous learning, staying updated on market trends, and seeking out new investment opportunities. He highlighted the value of real estate education through books, courses, and mentorship.
- Network and Mentorship: Building a strong network and seeking mentorship from experienced investors can significantly accelerate your success. El-Ray shared tips on how to connect with like-minded individuals and the benefits of learning from others’ experiences.
- Patience and Persistence: Real estate investing is not a get-rich-quick scheme. Patience, persistence, and a long-term perspective are crucial for sustainable growth. El-Ray stressed the importance of setting realistic expectations and staying committed to your investment goals.
Real Estate Investing with El-Ray Noble
El-Ray Noble is a phenomenal host with a wealth of knowledge and a genuine passion for helping others succeed in real estate investing. His channel, Building Wealth Through Real Estate, is a treasure trove of valuable content for both novice and seasoned investors. I really want to say thanks to him and his team for inviting me to participate in his show and talk about my own experience as a real estate investor, the ups and downs as well as how The Infinite Banking Concept could have made a huge difference had I known about it sooner.
Catch the full episode on El-ray Noble’s YouTube Channel to gain deeper insights and practical tips that can help you on your real estate journey. Whether you are just starting out or looking to expand your portfolio, this episode is packed with actionable advice and inspiring stories.
If you want to know my real thoughts on how to create long term sustainable wealth in your family and how to keep it for generations the best bet is to grab a copy of our bestselling book Don’t Spread The Wealth.
Richard Canfield
