Today’s guest is a first for the PIMR podcast; Greg Junge is the only person who has been interviewed on the show who has invested in property outside of the United States. Greg joins us today to discuss how and why he and his wife Mandy, became limited partners in a resort in Belize, and the people who influenced their decision. In this case, the decision was based on the fact that it is a place they would like to revisit often, and therefore it is a lifestyle investment as much as it is a financial one. Greg doesn’t always invest in properties that he will make use of himself but he does always ensure that he completely trusts whoever he is investing with and he runs us through his vetting process in this episode. Greg also gives us insights into how the COVID-19 pandemic has affected his investments; why the pandemic has not deterred him from investing in more properties; the benefits of finding a niche in the vast world of real estate as quickly as possible and most importantly, why investing in your own personal development is a key to success.
Key Points From This Episode:
- Greg gives us a brief rundown of his professional career.
- Where Greg and Mandy gained the confidence to invest in Belize.
- Some details about the Mahogany Bay Village development and the value Greg sees in investing there.
- The delays that COVID has caused.
- The lifestyle investment is as important to Greg as the financial investment with regard to investing internationally.
- Patience is key in the real estate world, especially during COVID times.
- Greg talks us through the qualities that he looks for when he is vetting sponsors.
- The three main things that Greg looks at to determine whether he is going to invest.
- Greg and Mandy’s decision to continue during the COVID-19 pandemic.
- Why finding a niche as quickly as possible is beneficial to success.
- The benefits of investing in your own self-development.
“With real estate, it never happens very quickly, it’s not get-rich-quick, it’s get-wealthy-slowly.” — Greg Junge [0:09:32]
“It’s really just patience and trusting the process and trusting the team that you vetted out.” — Greg Junge [0:10:00]
“If I am going to write a check for a decent amount of money, I want to make sure that I trust that person who is receiving that money and that I trust them not only now, but a year from now or 10 years from now.” — Greg Junge [0:16:02]
Links Mentioned in Today’s Episode: