Here’s our ‘Investing Story’ in a not so small nutshell… After dabbling in investment properties for a few years, we became full time investors in 2004. Since then we have invested in close to 100 residential properties, 37 of which we continued to hold and manage long term. Though we bought aggressively, it didn’t happen overnight. When we first started looking at investing on a large scale and started attending events and seminars etc, we were shell shocked. We knew we wanted to do it, we just had no clue how to begin.
We’d had a couple of successful businesses under our belts and certainly had drive, and the circumstances to pursue real estate investing, but no clue how we’d actually get there. After attending event after event and seminar after seminar, we found the Real Estate Investment Network and knew we’d found the tools we needed to take us to the top. Even with their help and mentorship, it took us about 6 months to make a move and get our first REIN® qualified investment property, and another 9 months after that to get our 2nd. All the while, we read their reports, watched the statistics, learned what economic factors affected real estate…all the information they presented, we learned. So 15 months after joining, things started to fall into place. Five months later, we bought 3 more and the ball started rolling, and quickly.
Fast forward a few years and we’ve invested in about 100 single family houses, condos, duplexes and apartments. Our first purchase was simple; we bought a bigger house for us to move into, then rented out our starter home that we’d bought the year we got married, at 19 (yes, very young!). We got excellent tenants, made a bit of cashflow, and the confidence gave us the gumption to keep going. Its the first purchase thats the toughest. Be wise with your first, make sure its a good experience so your mind will allow you to keep going.
So like most investors out there, we quickly ran out of cash and so had no choice but to go ahead and start looking for Joint Venture money or OPM (Other Peoples Money). If you haven’t yet played Robert Kiyosaki’s Rich Dad Poor Dad Cashflow Game, its worth every penny of the $500.00 ridiculous dollars they want for it. It mimics investing in businesses and real estate that create cashflow. That game allowed us to really see that those who played and wanted everything for themselves, never won the game. Those who played and shared their opportunities with others, though that meant a smaller peice of the pie for them and those who were willing to give up money for a peice of an opportunity staring them in the face, were the ones that consistently won the game. Play it a couple times, try playing it both ways and you’ll have no choice but to become a believer.
So long story short, we flew to Vancouver, to Toronto, went to Calgary….wore shirts with advertising (not really our personality to do this), took with us articles about Why to Invest in Alberta, showed pictures of our properties, tried to listen to what people wanted from real estate and then found a way to provide it. In just a short time period, we were able to raise hundreds of thousands of dollars in JV money. We started buying, the market started going up, and the rest is history.
We are very very happy to say that we’ve been able to be a part of making a number of peoples retirement and life dreams come true. One of our JV partners retired to Panama, another who was very nervous got paid out and made over 150% ROI on his retirement fund so is now finally for the first time in his life, able to relax. Another couple were able to quit their jobs and pursue other forms of income, one of which was funelling more JV money to us…lots of happy success stories that we’ve been able to have a part in. If its done right, it can be very rewarding. Though we have stopped buying properties for ourselves (save for a few exceptions), we love the game of real estate and if we do say so ourselves – we’re pretty good at it.
The freedom that real estate will buy is incomparable and we have fun helping others reach their dreams and goals without the frustration that we had, working with different real estate agents. My team of REALTORS® and I work together everyday to make sure we are providing only the best and exactly what we searched and searched for when we were in our buying stage. We bought for the long term and thats where we specialize, not so much in flips etc.
We believe in working to live, not living to work. We’ve watched and learned that money has not bought happiness for a lot of our friends, family and investors. Its the life you choose to live, simplicity at its base that creates happiness. We believe in setting up that lifestyle for ourselves and our investors.
To your success,
Corey and Tiffany Young