“Learn from the experts before you do it on your own as mistakes are inevitable! ” – Monika Jazyk
It’s a great pleasure to introduce you to Monika Jazyk, co-founder of Real Property Investments, author of ‘Real Estate Mistakes- Our Mistakes, Your Success‘ and mother of four cute kids. She is passionate about helping other people create wealth through real estate and alternative investments so they can reach their personal and financial goals.
Despite accumulating an impressive portfolio of single and multifamily units across Ontario and US, she is very surprised to have survived the real estate journey without any guidance. She wants you to avoid the mistakes that she has made and today, she will be sharing awesome tips for you to move forward in your real estate journey.
Over to Monika Jazyk – Wealth Builder & Real Estate Investment Specialist
Tell me more about your business and how it helps our readers?
Our main source of active income is helping others invest in Real Estate to achieve their personal and financial goals. This can be accomplished by owning 1 or 2 QUALITY properties, opposed to multiple properties which require a lot of work and can impede on one’s quality of life. We always say, “having 100 properties is like having 100 kids”. As a Real Estate Investment corporation we obviously have multiple properties and strategically expand our portfolio through joint venture partnerships, but it should never be used as a comparative tool as this is our business. You do NOT need to be a full-time real estate investor to build your wealth through real estate and it should not become a job. Our investors are able to excel in their existing careers and do what is important to them to live their best life possible, while their investments are silently in the background building wealth for them!
You decided to leave your career, which is one of the courageous things you can do in life, how did you come to that decision? What helped you prepare financially for this decision?
I actually never worked full time. After completing my Masters of Teaching, which was accomplished shortly after having our first son, I decided to be a part-time teacher and full-time Mom and continued to do this as we added 3 more children to our brood. Although we were living our personal dream, we were also living our financial nightmare and were concerned about future expenses such as university education for 4 kids! We were investing in mutual funds for our RRSP, TFSA, and RESP and were getting minimal if not negative returns. This led us to do our own research on investment strategies and we decided Real Estate is the best way to go for cashflow generation and long-term wealth.
Do you mind sharing your future goals in life now that you’ve taken that big step?
I am proud to say we have achieved our long-term goal of funding each child’s university education by purchasing a property for each one of them. We also have secured our retirement which is huge.
We have taken all of our registered funds which we worked so hard to build and regained control by investing them in syndicate mortgage products and private market products. Unlike mutual funds, we are able to pick what products we choose to invest in, along with the Rate of Return, the longevity of the investments and the payment structure. Because of the transparency and control we have over our investments we are able to create a financial plan to help us achieve our future financial goals. And now we are helping other investors do the same!
When did you get your first taste in real estate?
Our first taste of real estate came at the ripe old age of 24. on a whim, we put down $500 to secure a block of land in an estate development in Australia (where we use to live). We designed a luxury home and were approved for a mortgage for a home and land package for $220k. We backed out at the last minute from FEAR. 2 years later I google searched the area and homes were valued between 1.5-2 million dollars. That hurt!
Which real estate investment strategies do you use and why/how did you choose them? What are your goals for each of them?
As a wealth builder, we focus on buy rent hold and passive investments (syndicate mortgage and private market products). Buy rent hold builds long-term wealth with passive investing allows us to grow our existing savings in a safe environment with double-digit returns.
What do you look for when evaluating a potential deal? What are red flags?
We have created specific Real Estate Models for our Buy Rent Hold (specific areas, a specific type of property and specific returns) and make sure they generate positive cashflow and build long-term wealth. I spend my time analyzing areas by examining economic fundamentals in each area to get in the next “hot spot” before everyone else does. By the time everyone else catches up, we have built our teams and have a very strong presence in that market to help our investors not be affected by inflated prices and bidding wars. We are constantly analyzing, building and growing.
Have you had any warrior scars as a landlord, could you share that story with us and how you overcame it. What can you share with readers as tips for avoiding this?
I am surprised to have survived what we did as we had to go through our investment journey all on our own without any guidance. My tip would be to read book, ‘Real Estate Mistakes- Our Mistakes, Your Success‘, which is a tell-all tale of our journey in Real Estate and is aimed to help other investors avoid the mistakes we made.
What are two things you would advise the next generation of real estate investors to do in order to have a thriving real estate investment business, career & personal life?
Establish your WHY and do not deviate from it.
Create a strong person and financial plan and make sure they coincide
Receive a strong education on Real Estate Fundamentals such a Confused to Confident in 7 Weeks offered by MORE (The Mothers of Real Estate). This inexpensive course can be done at home, on demand and will provide investors with all the tools they need to get started.
What are three things did you did early on that helped in advancing your RE business? What are the two most valuable lessons you have learned in your business so far?
Do as I say, not as I did. We took the hard road. We did it ourselves and we suffered immensely because of it. Fortunately, we lived to tell our tale and created a business to help investors build wealth in real estate using a proven system, taking all the guesswork out of investing by educating investors on their options and allowing them to achieve their financial and personal goals with eyes wide open approach!
And … for anybody who wants to know more about the book ‘Real Estate Mistakes- Our Mistakes, Your Success‘, here is a great introduction and what you can learn from reading this book:
Too many books tell the story of the glories and benefits of investing in real estate. But what about the realities and hardships that accompany these tales? Stress, insufferable debt, and financial nightmares — this everyday family copes with the grueling reality of “real estate gone wrong”.
After much anticipation, expert real estate investors Monika and Vaughan Jazyk of Real Property Investments speak to us of their family’s true story on their trials and tribulations in real estate. This everyday family copes with the grueling reality of “real estate gone wrong” — and how to pull through even the most seemingly outrageous of challenges. This narrative drags out all the demons and shines a glaring spotlight on the REAL world of real estate.
The Jazyk family teaches us how we can avoid costly mistakes that can break the bank, while sharing the mindset of successful real estate investors, including:
- The REAL costs of real estate education.
- The misconceptions and myths of using OPM for real estate — Other People’s Money.
- The TRUTH about popular investment strategies.
- The importance of keeping your investment decisions purely BUSINESS.
- Expenses that you can avoid.
- The money and time involved in owning property rentals.
- Templates and worksheets you can use at home to strategize YOUR LIFE around your investments.