Episode 82 - The Life of a Millionaire Mom w/Susan White Livermore

<p>Gary chats in this episode with Susan White Livermore, also known as the Millionaire Mom. Gary and Susan sat down in person to talk about investing, Susan’s role as a coach, and how the pandemic has changed the way we do business. They also touched on Susan’s childhood and the fundamentals she picked up from her parents; her coaching programming from beginning to end; and her transition from the corporate world to self employment.</p> <p>What you'll learn:</p> <ul> <li>How her parents involved her and opened financial dialog at a young age</li> <li>What prompted Susan’s move from the corporate world into real estate</li> <li>How her brother’s challenging financial situation changed her outlook</li> <li>How he bought his first house while in debt, with no credit and NO job</li> <li>Why he was fearless and how it changed Susan’s course of action</li> <li>Why she bought her first house with her dad</li> <li>She wasn’t aware of any bylaws around renovations at the time</li> <li>She started with renting her house out to students</li> <li>Why it’s better to have a mix of male and female tenants in the same property</li> <li>Why she suggested that tenants bring their own co-tenants</li> <li>Why she decided to try investing before trying to find another job after maternity leave</li> <li>She started spending money on learning creative financing, wholesaling, etc</li> <li>She convinced her brothers and dad to join her in her process</li> <li>Don’t try and hit a home run with an investment - positive cashflow, good area, good pool of tenants, good vacancy rate, transit, etc</li> <li>Why you want a big pool of potential tenants so that you don’t have to recycle them</li> <li>Is your property close to employment for your tenants</li> <li>Why age of the area is somewhat important to your tenant pool</li> <li>Her big mistake was moving to Calgary, and her properties were impacted by the oil and gas industry - make sure your market isn’t one industry specific</li> <li>How there are various sources of data that can help you d