Goalden Girls Podcast Episode #72 - The Myth of Passive Real Estate Ownership and Reality of Successful Investing with Troy Michaud

The promise of real estate investing?

You’ve probably seen the ads and can imagine it now: Long, lazy days on a beach in the Caribbean. Snorkeling today, reading your favourite book again tomorrow. All this possible with real estate properties that pay you tens, hundreds of thousands of dollars… for doing nothing!

The reality of real estate ownership?

Phone calls with property managers. Printing, filling out, scanning and mailing documents back to the bank and your legal team. 

Entering expenses into spreadsheets and accounting software, overseeing (or potentially doing) renovations, negotiating insurance and managing a team.

I know, I know - I sound like a GIANT Debbie Downer. But, while I am an eternal optimist and always will be, I also believe in reality, knowing it, and making aligned decisions knowing the truth. 

And the truth? 

Not all real estate investing is passive - in fact, a lot of ISN’T!

Today, I’m joined by my husband and business partner, Troy Michaud, to talk about the realities of real estate investing. 

Before we go too far, I’ve got to read the OFFICIAL Disclaimer: 

The views and opinions expressed in this podcast are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action for more information. What you hear today is not financial advice. We are not licensed financial advisors, lawyers, mortgage brokers, or real estate professionals. This is not a substitute for professional legal, real estate, or financial advice, and in a platform like this where we speak to many individuals, each with your own journey and circumstances, it’s important to get personalized advice. I encourage you to build a trusted team of professionals and consult with them to support you in your personal situation with your individual goals. 

Alright, now that we’ve got that out of the way, let’s get into the meat of this episode. Today, you’ll learn about:

  • The myth of passive investing in real estate ownership 

  • Our real estate investing strategy and why it’s NOT passive (and why we do it anyway)

  • What our day-to-day and week-to-week workload looks like as real estate investors

  • How we keep our investing as passive as possible

  • Why we keep doing it, even though it’s a lot of work 

  • Principles and tips to keep in mind as your build your portfolio to make it as successful - and as passive - as possible

Alright my friend listen in - here’s the real talk of real estate investing as we BUST the myth of “passive” and tell you the good, the bad, and mostly just the truth.

Here are the juicy bits you can look forward to:

  • An overview of our real estate investing strategy. (5:25)

  • Some of the misconceptions about passive real estate investing. (10:15)

  • What it takes to procure a deal and why we buy properties that need work. (22:00)

  • The realities of real estate investing that many don’t know. (30:55)

  • Why our real estate strategy works for us. (36:45)

  • What the expected costs are compared to your passivity. (42:05)

  • How much time is spent on stabilized properties vs unstabilized properties. (46:00)

  • Tips to be successful in real estate right now and in the future. (55:30)

 

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Quotes to Share:

Download and share the quotes you loved on your social and inspire those around you:

 
 

“In this business model, it’s certainly not passive even when it is.” - Troy Michaud

“You either need to put in the work or you have to have the capital to make it truly, truly passive.” - Lisa Michaud

“Your profitability declines as your passivity increases.” - Lisa Michaud

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Thank you so much for listening.

xo,

Lisa


PS.  Please note: some of the links shared may be affiliate links. This doesn't cost you anything: it simply means that Lisa Michaud might get an affiliate fee. Special care is always taken to make sure only the highest quality recommendations are shared: our highest value as a Community is YOU getting results in your life. We will always encourage you to show up with integrity and encourage you to create a business, income, and life you love - and make money doing it. We share this as an example of how we do this in our business by following these principles to serve you, and inspire you to do the same in your life.