- Thrive Mortgage Co.
YVR Real Estate & Mortgage Show EP. 13 - Real Estate & Achieving Goals w/ special guest EDDIE LACK
We are excited about this week's episode!
Our next guest has a very unique background as he comes from a career in pro hockey playing in the NHL! More specifically he played as a goalie for our very own Vancouver Canucks! He has recently made the change to real estate and he's here to share his goals, thoughts on the Scottsdale market, and what the future holds for him.
Eddie played in the NHL for 5 years with the Vancouver, Carolina, Calgary, & New Jersey. When playing pro hockey, moving city to city is apart of the job. Coming from Sweden, Eddie enjoyed being able to live in different cities across Canada & the USA. It helped him become able to make new friends and adapt to new situations.
He has been in the real estate industry for about one year now. The interest has always been there for him in this line of work. Back in Sweden, his family has been doing it and has a few hotels that they operate.
While playing in the NHL, Eddie got the opportunity to play in Arizona and fell in love with the state. The warm weather attracted him as opposed to other major cities. Los Angeles had too much traffic and Florida had the possibility of hurricanes. Based on these factors as well as housing prices, Eddie and his family choose to make the move to Scottsdale. While playing for the Calgary Flames, he would be traded to the New Jersey Devils. Instead of moving all of his stuff to New Jersey, which would have been a temporary living situation, he decided to purchase a house in Scottsdale (over FaceTime!) and begun settling in.
Buying digitally two years ago didn't defer Eddie from making the purchase. He felt very comfortable with the transaction. Self-dubbed spontaneous, he believes it's always helpful to have your next goal in mind. It felt like the right choice to make the move.
Eddie already owned investment properties in Sweden but being in the USA, he wanted something closer that he could manage. He initially studied the rental market there. A year in, COVID-19 has slowed things down but those in Arizona seem to be doing ok.
One type of mindset Eddie lives by is that you can't be scared of an opportunity. If you never jump you will fall anyways. Any type of learning that is out there, even bad information, is there for us to learn from those mistakes. He also tries not to get caught up in decision fatigue which is having too many options and not making a choice.
Looking at the numbers and getting good advice, it helped him overcome his doubts about the Airbnb platform. He got licensed right after getting that first rental property and currently does commercial real estate.
Why are so many people moving to Scottsdale?
Eddie has some insights on this question. First, the city is young. It's beautiful like Palm Springs but there is a much younger and hungry vibe whereas cities like Palm Springs are relaxed and slow-moving. Second, tying into the first reason, there is more nightlife than most cities. He considers Scottsdale to be a mini Las Vegas. Third, for those nature lovers, the city has plenty of natural beauty and not to mention some of the most amazing places to golf.
How many people are moving to Scottsdale?
Roughly 200 people a day are moving from California. Homes in the old town of the city are attracting the most attention. There are a lot of lifestyle factors that determine are purchased. A lot of pro sports teams travel to Arizona for their spring training camps. When these teams arrive we see spikes in those areas.
Some homes in Scottsdale can make up to $10,000-$20,000/month in rental income during busy times! This usually occurs in April-May. The rest of the year we see rental income values of $2,000-$5,000 which is very good considering house prices range from $400,000-$500,000.
For Eddie, mindset is key. Take one step at a time. One thing he did to help him with his success is starting a goal book. On one side he writes his goals, his past, and what he sees as his future. On the other side, he keeps a daily schedule. It's a reminder of what he's fighting for. For properties, he will write dollar amounts in what he is trying to achieve. Right now, he's aiming at $1,000,000 a year in passive income.
Where does he see his future?
Eddie hopes to start a team within the next 6 months. In order to do that he believes it's important to build your own values first that are sustainable.
Lesson From Eddie Lack:
When Eddie started in the real estate industry it was easy to introduce himself because of his celebrity. Saying you were a former NHL goalie made introductions easy but no matter what your background is, go with it. Embrace your career. Your past may be who you were but not who you are today. That confidence will go very far in anything that you do. Remember, you aren't selling homes, you are selling advice and experience.
Are you interested in investing in Scottsdale, Arizona?
Give Eddie a call!
He's on social media as well!
The best way to reach him is as follows;
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