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.