Today, we are going to talk about Keyspire. Is it legit? Find out more in this review.
I hadn’t really had heard of Scott McGillivray before. But when I searched for him online, I was surprised that he was previously a host for a show on HGTV. I was remind of my review of Tarek El Moussa’s training program called HomeSchooled by Tarek. Somehow, there was this weird HGTV to training program pipeline that existed. Though, it’s only really just two instances.
Still, it’s not surprising that people who have experience in real estate see the opportunity to teach people about their expertise. There’s always an audience for these types of programs, especially if it earns me money. It doesn’t matter what industry you are in. There will always be a training program related to that.
People are often on the search for ways to earn money. I also do that from time to time. Don’t get me wrong. I enjoy writing a lot. But it doesn’t really hurt to find ways to earn money. I am a glutton for punishment.
But it was interesting to see somebody who has a certain level of fame deciding to start their own training program. Especially about real estate investing. I feel like there’s already so many training programs available out there. And adding one more will probably fragment the market.
Still, I was really curious how Keyspire stacks up to the other training program that I have reviewed.
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Keyspire Review: Quick Details
- Name: Keyspire
- Founders: Michael Sarracini and Scott McGillivray
- Website: https://www.keyspire.com/
- Socials: Facebook, Instagram
- Type: Training program
- Niche: Real estate investing
- Recommendation: I do not really recommend investing in real estate because there are a lot of risks involved in it. You’re going to spend a lot of time and money trying to make it work. But it’s not guaranteed that you’ll get the same results as everybody else.
Who are Michael Sarracini and Scott McGillivray?
Michael Sarracini and Scott McGillivray are the founders of Keyspire.
The two of them met during college. It seemed that they hit it off quick. They decided to rent a house with three other people. That was their time living by themselves. It was sort of an unknown territory for a lot of them. They took up jobs so that they could pay for rent.
Somehow, along the way, Michael, Scott and their three other roommates decided to form a boy band. Surprisingly, they did pretty well. They toured around Canada was offered a record deal. But unfortunately the company that offered ran into a bit of financial trouble. So the recording session for album was scrapped which lead to the band breaking up. Life pretty much went on after that.
Michael and Scott’s journey into real estate wasn’t what you’d expect. It was still during their time in college. The two of them were tasked to collect everybody’s rent and deposit it to their landlord’s account at the bank. Somehow, the teller gave them a copy of the deposit slip. It said how much the deposit was and how much was the mortgage payment.
That was when they realized that they could probably be earning that kind of money if they were the ones who were renting the house to other people. So the two of them decided to look for a better rental property to live in. Apparently, their landlord wasn’t really much of presence to them.
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The Start of Their Real Estate Journey
Their jobs as waiters at the restaurant gave them the opportunity to meet a lot of realtors. They kept asking whoever was their about any places that they could rent out. One of them suggested that they just buy a house instead of renting it. They didn’t really think that it was a good idea. But the realtor was willing to help them throughout the process.
They basically started the process of buying a house. It took a bit of talking through. But they decided to use their student loan money as a down payment to qualify for financing. They also combined their income from their job at the restaurant.
Soon after, they managed to buy their first ever rental property. There was still a lot of work to be done to turn it into a usable property. Word of mouth lead to a lot of students wanting to rent from them. They didn’t have enough properties to meet the demand. But they were fired up because of it.
Considering that they didn’t really have anymore money for a down payment, they had to find a way to earn money for a new property. That lead them to the idea called “Flip-to-Yourself.” It’s basically just a way of flipping houses but you’re the ones who benefit from it. I don’t exactly know how to explain it.
Scott Becomes TV Famous
Their success in having rental properties lead them to become fairly well-known names in Canada. They were able to turn their experience into a book. That also opened up a lot of opportunities for both Michael and Scott.
Obviously, Scott had the chance to become the host of his own show on HGTV. The show Income Property ran for 11 seasons from 2008 to 2016. In that show, Scott helps homeowners create their first income property. An income property is a property that has a rental suite of sorts. The owners of the house still live in that property. But the renter has their own entrance that doesn’t overlap with the main household. Scott guides the homeowners through the process of renovating their household.
There were also other shows that he did for HGTV in Canada. But Income Property was the one that he was most famous for.
What Is Keyspire?
Keyspire is the company that Michael and Scott founded that’s focused on teaching people about real estate investing. There doesn’t really seem to be any difference to all of the other real estate investing programs that I have seen. You sort of get a good grasp of the idea of real estate investing just based on the Income Property series. The training program goes a bit more in depth than the show does.
There are two coaching programs available from Keyspire. The first is Income Property Labs. This is a monthly subscription where you get access to the tools and resources you need to start your journey in building income properties. You get access to monthly training guides created by the team at Keyspire. The cost for a monthly subscription is $47.
The second coaching program that they offer is a one-on-one coaching program. They have a lot of different coaches on their team. So you can talk to any one of your choosing. But compared to Income Property Labs, the cost for one-on-one coaching isn’t readily available. You will need to schedule a call with them in order to talk about pricing and strategy.
Like I said earlier, Income Property the show is sort of a good benchmark for what you might get into if you decide to start your journey in real estate investing. There are always going to be problems that pop up beyond your control. You just have to make sure that you are making smart decisions based on a lot of factors.
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Final Verdict – Keyspire Review
It doesn’t really seem like the programs being offered by Keyspire is all that different from the other real estate investment training programs that I have reviewed. The only thing that Keyspire does that other training programs don’t is Income Property Labs. A lot of them do provide a Facebook group for people who join the program. But this is the first time that I have seen a training program have frequently updated materials.
Usually, the trainings programs that I have reviewed before aren’t as updated as Keyspire’s Income Property Labs is. The reading materials for those courses are probably at least a year behind. Even if there isn’t really that big of a change from month to month, they should really update it at least every quarter. I think the ones with a regularly scheduled livestreams are able to use more current material.
Still, I can’t really recommend that you start a career in real estate investing now. Even if Michael and Scott’s journey sounds like such an inspiration, it was almost two decades ago since that happened. Times are different now.
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That’s it for my review of Keyspire. I hope you enjoyed reading it.
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