Aug 8, 2019
The other day, I got a chance to interview Drew Yahn, who is my student and also a business partner. His wife Jill bought her first home in 2009 as a single-family home in which to raise her young family. Jill and Drew met in 2011 and married in 2015. They bought their first home in May of 2015, not long before they decided to get married. they knew they wanted to buy an up-down duplex with the intention of living in the basement and renting out the main floor. They didn’t know it then, but this strategy is called house hacking where you get to own a home and live for free or nearly free. After they decided to get married, Jill and Drew lived in her home and they owned their first rental property together. It didn’t take long before they knew they wanted to buy more.
The real big thing what got Drew started investing in Real Estate is the general distrust of his pension plan. Drew had a choice whether to go for a masters degree or do something creative which would generate more income but also long term wealth. Over the years he had heard about the book called "Rich Dad Poor Dad" but hadn't read it yet. At that time he decided to buy that book and read it and after reading that book he decides to invest in Real Estate instead. At that time he hadn’t bought his own home yet.
Well, after buying his first home, the cash flow from the first month's rent was $800. Now he thinks that if he would have gone for a masters degree then he would have earn about $200 more, but for that he wound need to wait for 2 years or more. And two years of going to classes all day.
And now three and a half years since purchasing that first rental property, they have added 54 units to their portfolio valued at around $5 million dollars. All of this while balancing a young family, running a business out of their home, and working full-time as a public school teacher. They continue to expand their knowledge base and Network as well as their portfolio. They have met many fascinating and highly motivated people in this business and look forward to meeting many more.
Drew and Jill have taken some real estate courses and hired Edna as a coach and she has helped them go from 6 units valued at a total of $340,000 to 54 units worth $5,000,000 in roughly 2 years. Coaching has most definitely given them the confidence to do more than they could have ever done on their own.
Drew also shares about his Facebook page; Canadian Financial of Saskatchewan where he offers some business and financial solutions.
To learn more about Drew and his success story, watch the interview here.
Again, if you want to scale your Real Estate portfolio like Drew did his and want my help, join my program 90 Days to $5K.