My gardener has more properties than me!
Over the years, I talked to many people and one person I became friends with, was my gardener. He has a wonderful family and they all live in North Van. He told me he owned three houses, all in North Van. I was impressed. I wondered: does everybody has more houses than me?? HOW these people do it??
I can tell you a few things.
– it’s not easy.
– they are creative.
– they work hard. They make sacrifices.
For example, who wants to have a tenant downstairs, if given a choice??? No one that I know! But people do it. They rent basement suites. They LIVE in the basement suite and rent their TOP floor! Yep. I know a few people that did that! Scott McGillivray, founder of the Real Estate club I belong to (Keyspire), lived in his basement for years.
People also have students. I had students (homestay, international students) for 2 years after I started ReStory. Having students is a great way to supplement your income. I loved having students. But after a while I felt I was collecting children instead of having a business, haha! I loved those boys! I had only boys because one of the schools I dealt with and the one that sent me the majority of my students didn’t allow a different gender in the same house. I preferred boys because I had my son living at home (still in his teens) and I could identify better with boys. Anyway, that’s something that people do to supplement their income and to pay their mortgages.
People think outside the box!
Look at the Airbnb guys! They rented an air mattress in their living room! That’s how Airbnb started. I remember once talking to a taxi driver that said he had a condo in Pitt Meadows that was rented. I am like “whaaaat??” I never thought to have a condo and rent it out. I thought condos were a headache. I thought it was a waste of money, to pay the maintenance fee. I changed my mind. Of course, it would be great to have only houses. You can get higher passive appreciation on houses. But what if you don’t have that choice? Then a condo will do just fine.
There are lots of real estate clubs around. I had no idea!
Because of my love for decor and renovation, I was fascinated by Scott McGillivray from the show Income Property. My friend Pam took me to see him as part of a talk for CIBC.
He talked a bit about his story and I remember us taking notes and nodding and looking at each other eyes OPEN WIDE.
My friend Albert knew my passion for real estate and for Scott and one day he sent me a LINK on a message saying Scott was coming to town. I registered me and Pam to go on what we now know as the Wealth tour. We both watched and registered for a three day workshop about Real Estate and became Keyspire members.
We learned SO MUCH I can’t really explain here. It was information overload.
It changed my life. It gave me the tools I needed to buy the Log House with my partners.
I am still a member and I recently attended a meeting. The meetings are so inspiring.
I love to hear about the amazing things people do!!! And yes, THERE, most people have acquired at least one investment property.
And I would say that a lot of people have more properties than me!
Loved your story and would love to hear more
Thank you so much for reading, Neila!!!
I have so much to tell!!!
I am trying to put it all here and editing lots not to become a book!
We can meet for coffee/tea and catch up!!!