My First Investment Success Story
How I knew Real Estate Investing was for me!
People often ask how I have been able to come out of school debt-free, travel to over 25 countries and live a comfortable lifestyle (whatever that means!)
It all really started back when I was just 13 years old. I was too young to get a job, anywhere, so I started my own gardening company (with the huge help of my dad). I went door to door in my neighbourhood and handed out flyers that stated for $10/hour I would weed & maintain their gardens all summer long. Long story short, my business expanded each year and it ran for 8 whole"summers". I put summers in quotations because it really started in the spring and finished in fall. No joke, I would work 8-9 hour days pulling weeds in gardens, yards, interlock ... you name the task and I probably did it. It was not always fun and it was hard work but I still loved it! I also had the help of employees over the years which help grew my business and my hourly wage did increase (due to inflation) thankfully.
This business was the start of my entrepreneurial desires and helped pay my way through university. (It's really not surprising that I took Business & continued with a Masters of Business afterwards). After working for myself for 8 years, I knew I wanted to continue to be my own boss and entrepreneurship was the path that was going to make that happen.
My first investment
Back in 2015, I used some (most) of my saved up money, and with the help of my sisters and parents as partners, to invest in my first ever real estate purchase. I was 20 years old at the time and there was a new development coming to Barrie. This 3-storey townhouse had a price tag of roughly $250,000. This of course seemed very expensive & risky at that time. We all pooled our money in together to come up with the down payment, each owning 25% of the home.
Side note: If you do not have enough money for a down payment and you have people in your life that you trust and are interested, consider connecting with them to form a partnership. You do not need to own 100 percent to still be involved with a good investment opportunity.
With some delays, which is very common in new development, we got the keys to our investment home in October of 2016; Almost 2 years after we had purchased. We rented it out for a few months until, in April of 2017 with the housing market growing very hot, we knew we had to sell.
Are you ready! In 2.5 years our investment sold for $420,000! With putting only roughly 5% or $12,000 of my own money into this "savings account" I came out with almost $50,000. Not a bad return if I do say so!
After Payday Came
What did I do with this money? A big portion went to paying for my MBA (it is not cheap)! I did some traveling and of course... more investments! Over the course of the next year, we all pooled in again together to purchase another 2 investment condos!
Thanks for reading my story! If you are wanting to know where to start in real estate investing, reach out I'd love to chat with you!