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Getting some perspectives on all the options available makes you evaluate your risk appetite and assess where you feel you work best and grow more.
Having experienced both worlds, the UK and Canada, it's best to hear what works and what doesn't for each country. Knowing the most lucrative market to get into also helps, so you get the most of your time and investment.
Gary Spencer-Smith served in the Royal Navy for nearly 11 years, and emigrated to Canada in 2007. He started investing in 2005 in the UK, and 2008 in Canada, and has been a full-time investor since 2012. Gary now owns and manages a portfolio worth over 12M. This includes single-family suited homes (his bread and butter), large commercial spaces, and a lakefront holiday resort on Vancouver Island, consisting of 12 houseboats, two houses, cottages, and a pub and restaurant.
In this episode, Gary shares what investment portfolio affords him the lifestyle he wants as he talks about his approach to how one continues to build wealth in real estate.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
What you'll learn in just 17 minutes from today's episode:
Resources/Links:
Topics Covered:
01:59 - How he found his path in real estate
02:22 - Gary's main investment strategy
04:49 - Another promising investment portfolio
07:01 - Gary's capital-attracting strategy
07:34 - Three-step strategy to creating wealth
09:43 - Similarities and differences between investing in the UK and Canada
13:21 - What is RevNYou all about, and their networking style?
15:55 - How to reach out to Gary
Key Takeaways:
"I remember sitting someone saying, I can tell you how to make a million dollars in real estate, and they were like, 'Oh!' Why don't you buy four houses between 50 grand each, rent them out for 20 years and pay the mortgage down? There's a million bucks, no rocket science. And that was pretty much how I attracted capital within my network." - Gary Spencer-Smith
"I can create myself a job. That's where we did the property management; I can do jobs within real estate; I pay myself an hourly rate to fix stuff and build and renovate and all that kind of stuff. And then I create some wealth on the back end. So, it was like a little three-step strategy that I had." - Gary Spencer-Smith
"A lot of us get sold on the latest shiniest thing that you follow, and you're spending money on, and a lot of the times we forget as I did to take a step back and let real estate fund the life that you want to live." - Gary Spencer-Smith
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