So I wanted to take some time to get a little real...
Many of my closest friends and family know I am a nervous wreck. If I was an elastic band and you let go of one end of me I would probably hit the moon. I used to even get anxious about getting anxious. I’ve always been an anxious guy and resigned with the fact that it’s just how I am destined to be.
These days I’m still sometimes snappy and anxious but not nearly as anxious as I used to be. Something changed, something big… the biggest worries in my life don’t seem so daunting or worrying anymore and it’s because of real estate.
I am a tradesman and have worked very hard throughout my life to make money and provide for my family. The older I get the harder it gets. I’ve changed companies and moved up the ranks. I’ve always looked up to the people I have worked for. They’re all self starters, entrepreneurs and very successful. Even though they all ran very successful businesses every single one of them throughout the years would tell me their wealth did not come from their active jobs, it mostly came from real estate.
They told me that they bought properties one at a time and let the renters pay off the mortgages which passively built up their wealth. I never thought in my wildest dreams that I could actually do what they did. I would have to work super hard to start a business, then save up a bunch of money to buy a property and by that point I would probably have died of old age.
After some time watching my retirement funds not growing (actually shrinking) and dreading the idea of doing hard labour until my body broke I knew something had to change. This extra stress also made my anxiety even worse and I was struggling to get out of bed most days. I decided I needed to figure out this real estate thing no matter what. And so I did.
And you know what? It wasn’t so hard! We connected with a good mortgage broker and found out that we had enough money from our own home for a down payment and renovations on another property (actually a few properties if we were savvy enough!). We renovated it into a legal duplex. The renovating was easy, I’ve been doing it for a long time! With the help of my wife’s financial wizardry, we had the property refinanced and pulled out most of our initial investment. We took some time to place good tenants and BAM we had our first rental property!
So we did it again, and then again, and then again, and now I don’t worry about my retirement. In fact I don’t worry about a lot. I don’t worry about my work as much or about our future. Now that we have these properties I feel much more financially secure and I’ve stopped worrying about my future and I also stopped worrying about worrying.