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Real Estate Investing StoryStory of two Investors : Two men started investing 3 years ago (I think it was September 2004). They both worked full time jobs, (where single at the time) and shared the desire to be wealthy. They defined wealthy as $10,000/month of passive income from investing in real estate in 3 years. Each had a vision of how to get there, but the method they would use to reach their goals differed. J.D- He determined that he would team up with people willing to do the work. His role would be to finance the deals (or at least put up his good credit and a portion of his cash). He decided to trade money (to passively invest with active investors) for the ability to keep his weekends wide open.
S.M- His goal was to become an expert in real estate. Learn as much as he could from other investors, books, course and so on. He didn't have as much free time, but with his knowledge he was able to attract a few investors (small timers at first) to jump right into his first 1 and half story 1,400 sq/ft 1948 run down junker. He spent weekends and evenings actually doing the fixing up, going to Home Depot and taking their free weekend training seminars on drywall, tile and so on. Within a year, he no longer had difficult time finding money for his deals- he had more difficult deciding which deals to focus on and which ones to cut lose. J.D was at the mercy of his investors. Why? Once an investor is good at finding deals, money guys are easy to find. As long as you have cash, then you'll have investors to work with, as soon as you run out, you are out of the game. If an investor has a proven track record of finding good deals and making money, then every guy and gal with $25,000 in their bank is looking to invest.
August 21, 2007 It has only been 3 years and 11 months since they set their plans into action, but I can tell you that S.M is not passively making $10,000/month. He is making about $8,500/month and is very actively involved in his deals. I'm sure you figured out S.M stands for Shane Melanson (if you read through my bio you'll see some of my background in real estate). I work with many a passive investor (including J.D) and have done very well for my investors and myself. On the other hand, J.D is at about $3,500/month. To his benefit, he has more time to pursue recreational activates that he loves. While he is at the lake wakeboarding- I am making deals and bringing in the cash. I love to do deals- so for me it is not a sacrifice to work. On the other hand, J.D, doesn't mind his well paying Oil & Gas job, so he has the best of both worlds. What's my point? J.D will be waiting a little longer before he can retire and rely on his real estate investments. My goal, is to be in a situation, that if I want to stop working at 35, then I can. At my pace, I am confident that will happen much sooner.
If you are serious about investing or are wondering if real estate investing is even something you would be interested in- then spend the $16.57 US (or whatever it costs) and find out. You are better off to read a real estate investing book and decide if real estate is even something you'll like. The real reason J.D didn't do anything on his own, was because he really didn't give a damn about real estate. He was only interested in making cash. And you know what, maybe that's you. It is better to really sit back and ask yourself if Real Estate investing is a quick fad or something that you are willing to put in the time and effort to learn. If you are looking to invest in Calgary- feel free to contact me- at (403) 214-1884 or with the form below. I would be more than happy to give you whatever you need to start and get the ball rolling.
There is also a form you can fill out, if you have a good idea on what you are looking for. Shane Melanson 918-16 Avenue NW Share Your Investing Story
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