Hello Investors and welcome to the truth about real estate investing show, my name is Erwin Szeto your host bringing you lessons, tips, and tricks from the trenches from actual investors who are self made millionaires and multi millionaires. I ask the questions so we may learn about their habits and strategies so we may replicate their success and along the way I share some of what I’m up helping myself and others build inter-generational wealth and financial freedom so we may live our lives however we may choose.
First off, my charity the Hamilton Basket Brigade, we are heading into the final stretch to make this Christmas the best Christmas ever for 24 impoverished families in Hamilton. Where do we find these families you ask? We literally asked the Catholic and Public elementary school boards for their worst cases.
We have raised over $12,000 for this event and thanks to a 200 toy donation from Spin Master Toys, every kid is going home with a toy. December 15th can not come soon enough!
If you’d like to donate or volunteer for our next event in Easter of 2019 head to www.HamiltonBasketBrigade.com we are a registered charity so you get an automated donation receipt in your inbox. As the President of the Hamilton Basket Brigade, thank you everyone for your support and have a happy holidays!!
On to the subject of investing, I get a lot of questions about my own investing.
In a nutshell it has gone like this, I’ve transacted personally on over 30 properties. I’ve done flips, student rentals, regular buy and hold, executive rentals, legal non conforming multis, legal permitted duplexes in Toronto, Burlington, Brantford, St. Catharines, and of course Hamilton. The only thing I haven’t done is rent-to-own because honestly, I’m young and because I’m an avid student of economics, I’m bullish on the market and didn’t want to leave any more on the table on a rent to own buyout. Luckily I played my cards right.
My wife is also an Accountant to real estate investors so she knows where the money is…
Admittedly my portfolio has been neglected as I’ve built out my investor coaching business so I’m dipping my toes back into the water with a flier campaign, I’ve hired a sales person, I launched a new SEO optimized website, created a paid ad on kijiji, and launching a paid traffic campaign. I’m investing a lot of time and effort into this business but next i’ll try going old school and take an ad out in the local paper :P
Leads are starting to trickle in and I’ll go more in depth into what I’m up to at my monthly networking meetings.
This may sound like overkill but what I’ve listed is basically the best practice of several investors I’ve been mentored by or masterminded with. Everything will be measured for performance but I believe in Sun Tsu’s “Art of War” in the best way to optimize the outcome of me acquiring great property is to cover all my bases.
James is an old friend of mine, we met at REIN’s ACRE event in 2010, he’s investing in Hamilton, I’m Mr. Hamilton, me teaching him how to invest made a lot of sense.
James was already investing on his own but was getting a poor return on his time and efforts till I showed him an easier way and he bought FIVE properties in the first 12 months we were working together. With a sized decent portfolio, James started his own property management company with plans to expand. He asked me my advice and I invited him to join my rapidly growing team and he did and now he’s the top performer on my team and somewhere in the top 10% for the whole country.
After a very challenging few months of transitioning out of corporate and coaching investors to acquire quality investment properties, the writing was on the wall it was time to leave corporate for his exploding coaching business. The gamble paid off as the next 12 months resulted in six figures of active income, the most he’d ever made and soon after James we able to 2x his job income.
Fast forward to today, as a full time coach and licensed real estate professional, James just acquired three more properties in 2018, he vacations 6-7 weeks per year with his family in his condo next to the beach in Costa Rica in the winters and just renovated his backyard with a pool for summers.
James is also a founding board member of the Hamilton Basket Brigade and top five sponsor so he gives his time and money back to the community.
To me, that’s what real estate investing is about. The financial freedom to enjoy life, having an impact on those around you, and your community.
Here is James’ story and how he earned the nickname Money Baggs