How Cousin “Chubby” Made $57,000 in 18 Months w/ Wilfrid Lee

Greetings, my fellow Wealth Hackers!

For those who don’t know me, I’m husband and father to two young crazy kids. My wife is Cherry Chan, CPA. CA., and she owns her own Accounting practice called Real Estate Tax Tips.

Cherry’s birthday is coming up, so if you see her, please wish her a happy birthday! 

With restrictions ending thanks to the vaccine working, Cherry will be able to enjoy her birthday pre-pandemic style, but I can’t share details because it’s a surprise 🙂

Here’s a philosophical question… How do you define success? 

Brendon Burchard, a world-class coach, shared one of his definitions with me: when one can return the favour to those who helped them along the way.

One person who has meant a lot in my journey is my mom.

My mom lost her mom when she was barely a teenager and had to grow up fast and become the woman of the family to her father and three brothers.

Mom moved to Canada as a teenager, leaving the comforts of home in a tropical climate to a foreign country that speaks a different language for better opportunities. 

Mom operated an Airbnb out of her own home before there was Airbnb, cooking up breakfasts for guests and keeping the house.  She also worked in the kitchen of a local hotel.

Our first home was financed with not one, not two, but THREE mortgages in a not-so-great neighbourhood of Scarborough, ON.

Needless to say, my mom stepped out of her comfort zone for a better future for my brother and me, and it’s payback time! 

Mom’s condo needs renovating, a cosmetic one, but she’s repainting, replacing interior and front doors, windows, an air conditioner, etc.… 

Cherry and I have the funds in the bank, and Cherry wired mom the funds on Monday.

I’m not here to brag here as I have no interest in impressing anyone.

I’m actually a private person, but more important than my want for privacy is to share my experiences and impress upon our listeners, our community what’s possible when one delays gratification, invests in oneself, real estate, stock hacking, and whole life insurance what is possible.

Without people sharing what is possible and actually works, how would any of us ever get started?

One truth about real estate?

Second generation investors and entrepreneurs have a high success rate. I see it all the time among our clients and guests to this show. 

How about future generations? They definitely have more opportunities than the everyday Canadian.

One just has to make the choice to get started or not.

That brings us to my cousin Wilfrid “Chubby” Lee, our guest on the show today.

Over Thanksgiving dinner in 2019, I went on a red wine induced rant that cousin Chubby was leaving hundreds of dollars on the table and as cheap people, leaving money on the table is just as bad as losing money. 

How Cousin “Chubby” Made $57,000 in 18 Months w/ Wilfrid Lee

Here is my cousin’s story…

Chubby is a professional musician, and like many, he doesn’t make a ton of money. 

He’s got no pension, but he has supportive parents, invested in real estate, and knows how to research and grind.

His story is no different than many millennials…

He doesn’t have huge savings for down payments for real estate, but he’s managed to cash flow $57,000 in 18 months with a less than six-figure investment.  How many investors can say that?  Past, of course, does not predict the future.

So, if you or someone you care about is interested in an extended version of the demonstration I gave my cousin Chubby sans red wine induced rant, then head over to https://www.stockhackeracademy.ca/freedemo-w to register for our next demonstration. 

Cherry is actually delivering the next demo, but I’ll be there to support plus, we will have some seats available in the office if you’re cool 😉

Please enjoy the show!

We’re hiring!

Just a friendly reminder that we are hiring more investment Realtors who want a full-time challenge to help our clients, regular everyday people, mostly from the GTA, invest in the top investment towns west of the GTA. 

This is for driven folks who want to multiply their current incomes a couple of times as James and Tammy have.

APPLY HERE: https://www.infinitywealth.ca/hiring

 

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UPCOMING EVENTS

You are the average of the five people you spend the most time with! Build connections with empire builders and trailblazers at our iWIN events.
 
CLICK HERE to check out what’s coming up next.
 
 

BEFORE YOU GO…

If you’re interested in being a successful real estate investor like those who have been featured on this podcast and our hundreds of successful clients please let us know.

It is our honour to give back and educate others on how we build cash flowing real estate portfolios using all the best practices shared on this podcast, from the lessons of our hundreds of clients and of course our own experience in owning investment real estate.

If you didn’t know already, we pride ourselves on being the best of the best real estate coaches, having the best property managers, contractors, handy people, cleaners, lawyers, accountants, everyone you need on your power team and we’re happy to share them with our clients to ensure your success. 

New investor or seasoned veteran investor, we can help anyone by providing our award winning coaching services and this isn’t all talk.

We have been awarded Realtor of the Year to Investors in 2015 by the Real Estate Investment Network, 2016 by the Canadian Real Estate Wealth Magazine and again in 2017 because no one told the judges no one is supposed to win the award twice but on merit, our peers deemed us as the best.  In 2018, we again won the same award by the Real Estate Investment Network.

Hopefully being the most decorated team of Realtors in Ontario will make you consider us for your first or next real estate investment.  Even if you don’t invest in our areas, there’s a good chance I know who would be ideal for you. 

I’ve been around for a while, some Realtors are talented at servicing investors there are many with great ethics.  The intersection of the two, talent and ethics is limited to a handful in each city or town.

Only work with the best is what my father always taught me.  If you’re interested, drop us an email at iwin@infinitywealth.ca.

I hope to meet you at one of our meetups soon.

Again that’s iwin@infinitywealth.ca

 

NO MORE Confusion

After all the Youtube videos, books, and forum posts, you’re probably still left with questions. Starting in real estate is a tricky thing.

Frustrated beginners often ask how a legal basement suite conversion actually works. Most of the time we can only give general answers. But now, we get to dive in.

At this in-depth, free class you’ll learn how to take your first steps as a real estate investor.

Nothing is held back. Everything from analyzing basement suite conversion deals, to renting out your first property at a profit, and even how to refinance and do it all again!

More secrets you’ll uncover are:

Profiting in a HOT market…

Municipal bylaws to watch out for…

Mortgage terms that favour refinancing…

AND one barely used tactic for higher appraisals…

If you’re frustrated, unsure of how to get started, this is for you.

 Sign up now for the Invitation List and be one of the first to get an invite to the next class.

Sponsored by:

Infinity Wealth Investment Network – would you like to know how our investors returned 341.8% on positive cash flowing real estate over the last five years? On average, that was 68.4% per year.

Just imagine what winning in real estate could do for you.

If you would like to know how we did it, ask us how by calling 289-288-5019 or email us at meaghan@infinitywealth.ca.

Don’t delay, the top markets we focus in are trending upward in price, so you can pay today’s price or tomorrow’s price.

Till next time, just do it because I believe in you.

Erwin

Hamilton, St. Catharines and Toronto Land Development, Real Estate Investor, and soon to be builder.

W: erwinszeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/

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