CFD 188 - Matthew and Kira McClellan Make the International World Accessible to Us All!
Jack and Jill of all trades, Matthew and Kira McClellan, started a company to help lots of people just like you access cashflow opportunities across the world called Direct Source Wealth. This is the company Matthew and Kira built together, starting in the single-family housing space and then progressing through commercial and multi-family. This includes vacation rentals. Kira says she was always interested in real estate investing. In fact, she says she was an “insomniac child” who grew up reading and watching Robert Kiyosaki. She says her passion for real estate has never subsided. Matthew says that success came as a result of trial and error. He and Kira decided to keep going, no matter what. They used guerilla marketing strategies at the beginning and things were going okay, but they wanted to expand. Matthew says though he was scared, he moved forward anyway. He says real estate is an ever-changing market, and investors have to be flexible. Kira says that as a couple, she and Matthew have more strength, but as with many couples, one is a bit more of a risk-taker than the other. This helps her talk to investors about being smart about taking risk. She helps to ground them, so they are in a better situation. Kira says that Matthew is the safety net, because she is the risk-taker. There is a balance. They have learned from each other. Both Matthew and Kira say that they still get the butterflies in their collective stomach when doing new deals. Without that feeling, they say, maybe the deal isn’t interesting enough! Kira says she knows there will be problems in some deals, but she says you can’t let that stop you. Matthew adds that you have to turn the flashlight on in the room sometimes to see what’s in there! That’s a great analogy. The couple says that analysis paralysis is not a good thing. While it’s good to do your due diligence and ask questions, there is a time to take action. It’s a balance thing. Kira talks a lot about having a healthy partnership of balance. Success comes from recognizing who you are and then surrounding yourself with other people who have different strengths. Risk-takers need the very careful partner; conversely the careful analyzer needs to have a risk-taker to push them out of their comfort zone. Wealth is, after all, a team sport! As a real estate investor, you cannot be a one-man band. You have to work with other people. Kira and Matthew have a lot to say about creating a winning team and how to work as a team with investors. They also talk about how to boost cash-on-cash returns and tax benefits through certain types of investment strategies inside real estate. Learn more.
Duration: 58 min