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102 - INVESTOR STORIES: Investing, Playing the Long Game
In this episode of "Kiss My Assets," Jamison welcomes investor Rick Woodcock as a guest. Rick explains that he has a home in Mexico located in La Cruz, a small agricultural town with a beach, and he and his family enjoy spending time there. He mentions that they typically visit Mexico for a month to five weeks at a time, often during the winter season.
The conversation then shifts to Rick's driving experiences between Arizona and Mexico. He shares that he takes precautions while driving, avoiding nighttime travel and opting for well-developed toll roads with military police presence. The host expresses interest in driving down to Baja and exploring Mexico further. Rick suggests taking the mainland route to Mazatlan, then a ferry to La Paz and Cabo.
The discussion takes a turn towards Rick's background and career. He retired at the age of 63 after working in the manufactured housing industry for many years. He started in the business with a company called Cavco Industries and later worked for Skyline Corporation. Rick shares that he began investing in real estate early on, starting with profit-sharing programs and gradually expanding into rental properties. Over time, he became more passive in his investments, allowing his retirement funds to grow through employer plans like 401(k)s and IRAs.
Rick emphasizes the importance of consistency and discipline in investing, mentioning the advantages of manufactured housing as an affordable housing option. He highlights the quality and amenities offered by modern manufactured homes and acknowledges the increased interest in tiny houses. The conversation concludes with Rick reflecting on the ups and downs of the real estate market, particularly in the Phoenix area, and the need for informed decision-making and taking calculated risks in investments.
Overall, this episode of "Kiss My Assets" features an engaging conversation with investor Rick Woodcock, covering topics such as his Mexican home, driving experiences, career in the manufactured housing industry, and his approach to real estate investing.