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Chapter 2

Money, People, Deal:

The Fastest Way to

Real Estate Wealth

I

am often amazed at how lazy new investors can be with their money. Often a novice real estate investor is someone in their thirties or forties,

tired of their job, and making a steady median income. Since they have a stable job, this person is able to obtain easy credit and financing from banks. Often these investors will have access to a home equity line of credit, a wide arsenal of credit cards, and will have an RRSP account (the Canadian equivalent of an American 401(k) account) with $30,000 to $40,000 (if they’re responsible), and have $10,000 to $20,000 cash savings ready to do a deal. These investors are tired of the rat race and are ready to take the plunge into real estate with their own money.

The sad thing is that this type of new investor has been working since they were eighteen to reach this cash position, and they are now in their midthirties and ready to start investing. This investor has done things the slow way, and it has cost them decades of their life to reach this position. Time is the only real currency in life, and to do things faster, we must be educated. Education is where all wealth comes from because all wealth originates in the mind.

No matter how prepared we are or how much money we start with, the