by admin | Jun 10, 2014 | Blog, For Inspiration, Real Estate Investing Tips
There is an old saying, “Who you journey with is who you will become”. This is the case with Ben Hoffmann, who had been working since the age of 16 as a framing carpenter during high school. While having lunch one day, he was listening to his older construction co-workers talk about investing in real estate and the many benefits of ownership. Ben was only 19 years old when he bought his first investment property.
Ben looked up to his colleagues, but being a curious and wise young man himself, he wanted to do some research first and really understand the real estate game before taking the next steps. He read Robert Kyosaki’s “Rich Dad, Poor Dad” and learned that it was investing in profitable real estate that made people rich as opposed to higher education. Ben thought to himself, “I can relate, I love working in the construction industry andI don’t care much for school.”
Since Ben lived at home with his parents, he was able to save quite of bit of money from working full-time. It wasn’t long before Ben decided to purchase hisfirst property, a turn-key2 bedroom condo in St. Albert, Alberta. The property had all the economic fundamentals of a solid investment. His suite would be managed by Alture’s in-house property management and Ben really didn’t need to contribute any more time except to check his bank account every month to see his tenant’s rent deposit. He now knew what his co-workers were preaching about and is proud to “journey with them”.
Ben states, “I couldn’t have done this without my loving and supportive family but the key to this success was working with real estate investment specialists, who introduced me to completely hassle-free investments. “ Today, Ben has 6 investment properties, and is currently working on his 7th. His goal is to purchase 10 more properties in 5 years, for a total of 16 investments, and to inspire other young people to start saving to invest. – Way to go Ben!
My recommendation. One thing I consistently hear my clients say is “I wish that I had started real estate investing earlier.” I always tell people it’s never too old or too young to start. I have clients who started investing in their late 50’s and were able to purchase 3-5 properties a year. The first property is the hardest, but I must warn you that once you start, it does get addictive. Ensure you have a knowledgeable real estate investing team around you that has a track record of success so you can learn from them and avoid disappointments.
I am a licensed realtor dedicated to securing you wealth through strategic real estate investment. My mission is to help you achieve financial freedom by creating enough passive income to eventually replace your working income, so that you can spend more time doing what you love with the people you care about. For more information, go to www.pointbinvestment.ca.
by admin | Jun 1, 2014 | Blog, Real Estate Investing Tips
In my first blog post, “Journey to Liberty”, I expressed that my goal is to own real estate investment of 20 doors by year 2017. But WHY do I want to do this? Why does anyone want to do this?
As real estate investors or business owners, before we start anything, it’s always good to know our why. For most people, their why may be their children & family, for others it could be because they want to change their life circumstance for the better. When you know what your why is, it will propel you to work harder, faster, and smarter. When you feel uncomfortable trying new things to reach your goals, it’s this very WHY that pushes you through.
So what are my WHY’s?
Why #2: My 2 Young Daughters
I’ve been a single Mom for almost a decade. I’m not going to kid you and say that it’s easy. It’s not. Mentally and physically, it’s draining sometimes. But these are my favorite people in the world who have loved me from Day 1, and will continue to love me till the sweet end. What I would like is to have some money set aside to 1) go on vacation with my daughters every year which is a win for all of us, 2) help them purchase their car, and 3) contribute to the purchase of their first home to kick-start their adult lives. After that girls, don’t call me unless it’s Mother’s Day, my birthday or Christmas ok?
Why #1: Me, myself and I
Four years ago, during the Vancouver Olympics, I was in a much different place emotionally and financially than I am today. Due to life’s circumstances, I ended up living in a Woman’s shelter for almost a month. I did have a job that I liked, but I was living paycheque to paycheque. It was in 2010 that I decided that I no longer wanted to live this way and I knew that I was the only person who has the power to change my life. I made the decisions to create wealth, to ensure I have balance in my life, to give back to my community, and to be happy. I learned everything I could about real estate investment and passive income from successful investors, and I took action to acquire income properties in high growth areas. I am thankful that I had such a low period in my life, as without it, I wouldn’t have such a huge WHY.
My recommendation. In order for you to achieve your real estate investing goals easier (or any goals), you must know WHY you have these goals and really give it some thought. Knowing your WHY’s makes it that much more meaningful, deserving, and fulfilling when you achieve it. Sure, it can be for your family, your dog, for mankind… but the Number One reason you want to achieve your goals should be for YOU. Who do you think the common denominator of your life is? When on an airplane, they always instruct you in an event of an emergency to put the oxygen mask on yourself first before helping others. How would you be able to help your loved ones and to give back to the world if you don’t have the emotional and financial capacity to do so?
I am a licensed realtor dedicated to securing you wealth through strategic real estate investment. My mission is to help you achieve financial freedom by creating enough passive income to eventually replace your working income, so that you can spend more time doing what you love with the people you care about. For more information, go to www.pointbinvestment.ca.
