Hello everyone investing in Real Estate in Hamilton Ontario!!
Christmas Basket Brigade is coming!! Save the date!! The morning of December 19th!!!! We’re still ironing out details. We’re on the look out for a location as we need a new bigger spaceÂ since we’re helping so many families,Â thanks to the generosity of our donors and volunteers!
We will post details here:Â http://www.mrhamilton.ca/basket-brigade/Â and on our FacebookÂ page hereÂ https://www.facebook.com/groups/HamiltonBasketBrigade/
We have been very lucky in recruiting volunteers and we need donations as well to pay for food. Â Email transfer can be sent to firstname.lastname@example.org.
The charitable foundation we are starting will hopefully be ready by Easter and then we can issue receipts going forward. Â CRA needs 2-4 months before they will register a charity…
The Hamilton Investor and His Ferrari
Yesterday, IÂ checking out investment properties in one of Hamilton’s top investment neighbourhoods in Ontario’s top investment town with veteranÂ investor Gillian Irving ofÂ Â http://investinstudentrentals.com/.
While doing so, I ran into two other REIN member investors. We all said hello and exchanged pleasantries and the conversation quickly moved to the car one of them showed up in: Â A Black Ferrari. Â It is not everyday you see a Ferrari. When one’s primary income is generated through real estate investing and businesses, and at a young age (early 30’s), that is something to be admired and celebrated. Â Maybe a lesson or two can be learned as well.
Personally, I’m not a car person or someone who collects things, as I’m frugal and want most of my money working hard for me and making money. Â But for those that are passionate about cars, especially elite, Italian, supreme luxury racing machines, that’s pretty awesome and I’m happy for the young investor!!
Interested in some lessons on how you too may one day drive a Ferrari?
From what I do know of this young investor, not taking away any of his hard work, his father is a successful real estate investor himself and the son started early. Â When the son attended university in Waterloo, he owned the house he lived in with friends who paid rent. Â That served as an early introduction to being a landlord, business owner, and investor. Â Waterloo has been a great town for investment (not as good as Hamilton mind you ;)). The rent paid for his living and the property appreciation when they sold more than paid for his tuition AND added a couple tens of thousands of dollars for future investments. Â How about that? Â A student graduating without debt when the average Canadian student has $26,300 in debt when they graduate. I recall I had $30,000 of student debt even though I had help from my parents, but business school is not cheap. Back then my laptop alone was over $4,000…
The son, with his father, continued to invest in real estate in Hamilton and Barrie, and started a limited partnership fund for small and large investors to invest in apartment buildings. Â Essentially, a large scale joint venture with several investors and business is obviously good if the president is driving a Ferrari 🙂
A summary of my takeaways:
- Your kids and my kids will have an advantage over the general public thanks to our example of being savers and real estate investors.
- Yours and my kids will have a higher net worth than the average Canadian.
- Successful young investors often have their parents to thank for their guidance and leadership.
The question to you is are you willing to put in the work? Â If you are let us know and we’ll be there to guide you. 🙂
Know anyone who could benefit by investing in real estate? Â Please let me know and we will extend our award winning services to them as well.
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin |Â MrHamilton.ca
PS:Â If you are just starting out investing, start byÂ spending more time with like minded people and take guided tour of Hamilton by joining us for the next Mr. Hamilton Inner Circle by clicking here!!!