Early in life, I (Mark) followed the conventional path that society deemed successful. The consistent income and benefits that came with my career. Living within my means and having zero consumer debt. A stellar credit score. The RSSP contributions the “experts” said every responsible Canadian should make plus a defined benefit pension plan through work. Choosing the path of attending university and acquiring all the necessary credentials, a Master's Degree to boot. But, for me, it wasn’t enough.
I had this feeling that wealthy individuals made their fortunes not by trading their time for dollars, but through systems like real estate. And I wanted a part of that.
At a young age, I went solo and took my first step in the world of real estate investing. I walked into a condo sales centre in up-and-coming and now sought-after King West, Toronto, in the early 2000s ready to purchase my first investment property.
And then I encountered doubts and discouragement from those close to me.
“Why would someone rent from you?”, “Real estate is too risky” and “You will lose money,” they said. They spoke this way because they didn’t understand the value that real estate can offer.
Despite being talked out of my initial purchase, my conviction remained strong. I proceeded to invest in a property through a wholesale real estate investment group, only to realize later that this Hamilton apartment rental was a bad deal. The reserve fund on the building was eating away at my minimal cash flow. I had no idea what I was doing and after several years, I sold it, at a small loss. It was a frustrating experience that left me disillusioned and questioning my abilities as an investor.
Life then pulled me away from real estate. But again, this nagging internal voice was telling me that all my efforts were not aligning with my long-term goals and brought me back to the world of real estate investing.
Fortune smiled upon me as I crossed paths with like-minded individuals and I met investors in the Rock Star network. Armed with renewed knowledge and conviction, I dove back into real estate investing. I immersed myself in learning, sought guidance from experienced mentors including my Rock Star coach, and within the span of four months, purchased two rental properties that I then successfully filled and managed. This took place while in the background we closed on the sale of our primary residence and moved into our new home and of course, we were both working full-time jobs, running a household, meeting family obligations and the needs of two young children. The point I want to emphasize is that if any soon-to-be investor is using the “I have no time” to invest in real estate excuse, well, that’s just not true.
While I write in the first person, a large part of this journey has been made with my wife who is supportive and committed to this strategy.
Carolina and I now have these incredible assets that give us flexibility and options. While it’s by no means a large portfolio, we had to take action or fall behind financially. Our hard-earned dollars, that we trade our time and energy for, were being destroyed by inflation. Now, we have assets that we can refinance, leverage, and that appreciate while bringing in positive cash flow. As more demonetized dollars chase fewer houses, I see real estate as a must-have for long-term financial growth and success.
Am I finished with investing yet? Absolutely not! My sights are now set on buying a multi-family unit. Additionally, I diversified my investment portfolio by jumping into other opportunities like Bitcoin and private mortgages.
Over the past few years, I have learnt an incredible amount by building professional connections and friendships with extraordinary people in Rock Star’s network. The Rock Star group has not only given us rental properties but access to an amazing network of like-minded individuals many of which have turned into friendships.
Through perseverance, determination, and the willingness to learn from setbacks, my journey has become a transformative experience that has not only paved the way for financial growth but also enriched my personal and professional life. Plus, getting those monthly rent cheques, on schedule, is an amazing feeling! So, to all those who yearn for more, who refuse to settle for mediocrity, and who are willing to put in the effort, go for it!
You don't need to be a full-time real estate investor to own rentals. And even owning a home or two makes a huge impact on your life. Make a plan, get help, take action, and follow through with your dreams. Start now!
Don't be afraid to manage the properties on your own. It's your business, you'll learn about marketing, screening, and leases, plus you have control over who lives there. You'll figure things out along the way.
Do a deep dive and learn about the monetary system. Our dollars are built to lose value. Storing our time and energy in money designed to debase is appalling. Instead, take the reigns and own assets that give you control and get you ahead.
