I had the pleasure to work with this young couple who just opened up their first business, a Freshii franchise located at Rutherford Rd and Bathurst in Vaughan.
This couple inspired me.
They are young, they are energetic and they don’t take no for an answer.
Bernard quit his 9 to 5 job and spent 7 days a week since November at the store.
Angie keeps her 9 to 5 job, but she works at night and the weekend at the store helping out too.
They dedicated almost all of their time to operate the store. It is still at its infancy stage.
It was the very first time I was at their store this past Saturday. We spent the entire day setting up their accounting system at a nearby location.
Bernard could not focus on the boring accounting stuff. He was very pre-occupied with how his staff handled the lunch crowd. It was the first time he wasn’t present at the store during the busy lunch hours.
As soon as we were done for the day, we headed over to his store. He put on his hat and gloves, immediately got behind the counter to start serving the customers.
Although I can’t tell how fast they are able to grow this business, I can surely tell that no matter what they do in their lives with this type of attitude, they will get success at whatever they do.
It’s just a matter of time. And I am certain of it.
Did I also mention that during this process, they also managed to get their very first investment property?
So, when a couple of my long time friends repeatedly told me that they needed a new job because they’re tired of their commute, I got frustrated.
This conversation has lasted for over a year. And yet nothing has happened.
It is well within their ability to make changes in their lives. And yet they stand where they are, do nothing about it except wish things could be different in their lives.
If you don’t think you’re making enough money, then find ways to make more money.
Find a new job that pays more, start a side business, find a part time job, opportunities are endless out there! You could look for different franchise opportunities in any given industry, for example, if you enjoy educating others you could look at finding a tutoring franchise, as just one option find more information of Huntington Learning Center on how you can start a tutoring business franchise.
If you want to work from home, then find a way to work on it! One of my favourite books “Four Hour Work Week” by Tim Ferris provides step by step examples on how to negotiate with your boss so that you can gradually start working from home more and more. You can begin setting up your own home office and surrounding yourself with all the things you need to work successfully in the home environment. Technology is key, laptops and phones are essentials. You might want to work with a phone service like EATEL (https://www.EATEL.com/residential/phone/) because of its features that are conducive to streamlining and improving work for those based in the home.
If your job absolutely requires your presence, get a new one then! Or better yet, start a business!
Stop complaining and start taking actions!
Recently I reconnected with my old coworker from Deloitte. He shared with me that he is now running an Amazon store, selling steak knives in the US and UK market. I was super excited about it.
His ultimate goal is to replace his job in a local accounting firm with income from this business.
This will provide him with more time and more flexibility in life.
Having a successful life isn’t about having more money or starting a new business. It is about not having any regrets.
I recently met with two new real estate investors. Both of them do not make a lot of money.
They are determined to make a change in their lives.
Recognizing the limited ability to qualify for financing, one decided to purchase two multi unit buildings in Welland. The prices are lower in Welland and hence allow higher cash flows.
His goal is to replace his job income in the next five years.
The second one is working with her mortgage broker to find creative ways to purchase 3 properties in the next half year. After using sites similar to getagent, she was able to find an estate agent who could share her vision and find her properties that would suit her needs. Again, most real estate investors would be hesitated to buy in the areas that she’s targeting but she knows what she’s getting herself into. And she’s determined to quit her job in the next year.
Bernard and Angie inspired me. My old coworker inspired me. These two new investors inspired me.
Step out of your comfort zone and do something! Set a good example for the ones you love!
The last thing I want is to tell my kids in 20 years that mommy has been sticking with her current job despite how unhappy she has been because she’s too lazy and risk adverse to make a change![/private]
Until next time, happy Canadian real estate investing.
Cherry Chan, CPA, CA
Your Real Estate Accountant
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