Another Way to Play
Overcoming Analysis Paralysis with Sarah Larbi
Today I had the pleasure of speaking with Sarah Larbi. If you don’t already know, Sarah is an incredibly experienced and successful real estate investor who specialises in homeownership in the Canadian sector. In just 7 years, from buying her first property, she has built a 7-figure portfolio and will be able to leave the job world and live comfortably in her mid-30’s by the end of this year while also becoming an accomplished speaker, coach, mentor and podcast host of the “Where should I invest?”- Real Estate Investing Podcast.
Let’s dive into Sarah’s story of how just jumping in and learning from your mistakes can help you elevate proactivity to achieve a boast-worthy portfolio and Nest Egg, as well as her advice on what should come next.
[00:01 - 06:30] Opening Segment
- I give a brief summary of what to expect in this episode
- I introduce our guest Sarah Larbi
- We talk about her credentials and success
- How she gained interest in the market and how she started learning
- Scaling up fast from the early days
- Started with a “Craiglist-like” market then moved on to buying and scaling up properties.
[6:30-11:25] The value of BRRRR Investment Strategy
- What is the BRRRR Investment strategy?
- Best combination of flipping and holding
- B - Buy
- R - Renovate
- R - Rent
- R - Refinance
- R - Repeat
- At first Sarah was ignorant of this concept but quickly realised this was the best way to get started
[11:25-19:14] Overcoming Analysis Paralysis
- How did you start to break down the "scariness" of Real Estate? (Analysis Paralysis)
- Just going for it, learn and make mistakes
- She talks about the state of mind you must have when you’re starting out and what you will learn
- Learning the value of long term
- Screen your tenants
- What and when to renovate: "what was your learning experience?"
- Example of learning from a "mistake" and making it profitable
- What to check before buying
- I talk about my personal experience with buying a property and what I learned from some mistakes I made.
- Don't succumb to Analysis Paralysis
- People who make the mistake of waiting for the perfect deal
- Get out there and give it a shot
- Brief talk about risk and how to prepare for it
[19:13 - 29:53] What should your end goal be?
- Having control over your portfolio
- Building your nest egg
- Using your expertise in other areas and platforms
- Networking and how it impacts your business trajectory
- Your team makes or break your experience - Find the right people
- Turning a need into a want
- Collaborating on other channels
- How did you decide when enough was enough?
- Setting goals - What is it that you want and what will it take to get there?
- Working backwards in terms of your properties
- What is a Nest Egg property and why is it important?
- Talking about the benefits of Long Term properties
- What should you do with them while holding them
- How to pay them down
- The importance of value over the amount of properties
[29:53-33:56] The Focus Five Segment
- What book have you gifted most often?
- Anything by Don Campbell
- If you could get an hour of anyone's time who would that be and why?
- Still Don Campbell again
- What is one thing you believe that most people disagree with you on?
- Ready, Fire, Aim
- How do you like to start your day?
- She talks about her morning routine
- What is the best place online that we can connect with you?
- See links below
- Final words from me
"(At First) You’re not gonna learn everything, you’re not gonna have your perfect deal - buy something that’s good enough, and hold on for the long term and it will become a great deal over time” - Sarah Larbi
"People waiting for that perfect deal, when it comes, you don’t think that there are a ton of other investors that are much more experienced who are gonna jump on it right away anyways - you’re gonna be doing nothing for years.” - Sarah Larbi
"I don’t care about having 1,000 properties, I don’t... Just to say, what? I have 1,000? I’d rather just say I can do what I want, I’m young enough to enjoy it, and I have what I need..." - Sarah Larbi
Resources mentioned in the episode:
You can connect with Sarah personally on Instagram. Make sure to visit her website saralarbi.com to learn more about her and her other projects and coaching offers. Also, check out her podcast to hear from Sarah herself and receive some of the best investment advice the world has to offer.
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