- Joined
- Aug 30, 2007
- Messages
- 107
"Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better" - Samuel Beckett
Having grown up in a very traditional belief system in Ireland in the eighties and through much of a recession, I was led to believe that going to University and getting a secure job until retirement was the way to go. This was the way of the generation before me, so why would it not work for my peers and I. My Mother who raised me single handedly was a schoolteacher and one of her most important goals in life was to see me through university and then into a secure job. This was what most parents wanted as this was seen as the best possible future for their children. So to university I went and I graduated with a degree in engineering and very swiftly entered into a great job. Unfortunately however for my Mum, she struggled all through my university years with a terminal illness which she ultimately relented to once she knew I was in a secure position. I began to see things a little differently after this time forth.
I was left with a modest inheritance of two properties, one a suburban property and the other a rural cottage, both in need of repair. Despite being somewhat aware of this reality for some years, I had never really considered what I would do. It did not take me long to realize that property was expensive to own if it just sat there. I was faced with the decision whether to sell or rent. I can clearly remember the moment when I decided to hold on to the properties; - somewhere in my mind I knew that holding on to them and making them work for me would be more advantageous, and an adventure at the same time. So that was it, I began to manage the renovation of one property for the purpose of rental. I lived and worked in another city and at weekends I would return to Cork and work on the property. I got a great thrill out of watching the progression of the project from start to finish until I handed the keys over to a property manager.
The perspective of this early bereavement and my questioning of the belief that one should educate themselves to the gills and then enter their career immediately heading towards the normal route of so many prompted me to quit my job and travel. Very incidentally I ended up in the wonderful city of Toronto.
Education (Systems) / Team (Relationships)
Being very hungry from my newfound interest in real estate and business I began reading several books on the subjects. The whole business world was a mystery to me. Not having had much exposure to it growing up I construed my own uninformed opinions; I had been somewhat of a skeptic. A real turning point in my mind was when I heard an interview with a very successful property man who was donating huge amounts of money to volunteer groups in South Africa and also participating in the involved work. This was eye opening, I felt very naive and somewhat ignorant that I hadn`t copped onto this possibility of utilizing amassed wealth for the purpose of contribution.
I attended seminars and courses on real estate and of course got sucked into the usual seminars which boasted how to make money in real estate over night and in some cases through fraudulent and unethical activity. This all did not sit right with me and I once again felt uncomfortable about certain aspects of the business world. However this did not deter me, I began to realize that the issue was not so much with the business world but with the type of people you associated yourself with. So I just kept searching for ethical and upright people that I could learn from and I`m glad to say that I found what I was looking for.
Action
So once relationships are built, the next step is action. This is fundamental and key; you must take the steps yourself. You can align yourself with a team of the top people in their industries, but this is all worthless until you begin to take the action required. I began to look at how I could buy property over here in Canada. Considering I was a foreigner I looked into extracting equity from my properties in Ireland to get me started. I was faced with a few more obstacles than your average investor but these only brought about interesting methods of investing when I refused to be told that I could not invest here without a job and income. I utilized the ability to joint venture and also availed of foreign investment strategies to purchase 4 properties here in my first few years and started several businesses with like-minded people.
Among these and other things, I also started a music project called Redxdown over here which has produced remixes for several artists, (Including Sarah McLachlin), and also released several of it`s own tracks, one of which is REIN`s theme tune heard at each and every meeting which still gives me a great thrill to hear. It is also available on iTunes for purchase, just search for Redxdown + When The Brightest Stars REIN. I have also performed several live PA shows entirely with original electronic material. This is my real passion and I intend real estate to fund many of my explorations into the world of music.
Since, I have recently gained my Principle Residence status and am 2/3`s of my way through the courses to become a realtor here in Toronto and am already prospecting some new joint ventures. I am also involved with a fabulous business called HomeOwnerSoon.com and am in the process of selling all equities in Ireland to fund many more properties here in Canada. It is amazing to finally feel some momentum having felt somewhat static for so many years. Finally Canada is a place to call home.
Now all this seems wonderfully idyllic with few mistakes made along the way. But this could not be further from the truth. I have made many mistakes on this journey and I will make them again. The key is to know that you are making them, and realize that if you were not making mistakes, you would not be learning. On my journey here, even though I may not have bought many properties I have broken boundaries within my mind and belief systems and so much new knowledge has been gained. So, so, many people to thank and give homage to; far too many to even mention but you know who you all are. Thank you.
"Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better" – Samuel Beckett.
Donal Ward McCarthy
www.homeownersoon.com
www.redxdown.com
Having grown up in a very traditional belief system in Ireland in the eighties and through much of a recession, I was led to believe that going to University and getting a secure job until retirement was the way to go. This was the way of the generation before me, so why would it not work for my peers and I. My Mother who raised me single handedly was a schoolteacher and one of her most important goals in life was to see me through university and then into a secure job. This was what most parents wanted as this was seen as the best possible future for their children. So to university I went and I graduated with a degree in engineering and very swiftly entered into a great job. Unfortunately however for my Mum, she struggled all through my university years with a terminal illness which she ultimately relented to once she knew I was in a secure position. I began to see things a little differently after this time forth.
I was left with a modest inheritance of two properties, one a suburban property and the other a rural cottage, both in need of repair. Despite being somewhat aware of this reality for some years, I had never really considered what I would do. It did not take me long to realize that property was expensive to own if it just sat there. I was faced with the decision whether to sell or rent. I can clearly remember the moment when I decided to hold on to the properties; - somewhere in my mind I knew that holding on to them and making them work for me would be more advantageous, and an adventure at the same time. So that was it, I began to manage the renovation of one property for the purpose of rental. I lived and worked in another city and at weekends I would return to Cork and work on the property. I got a great thrill out of watching the progression of the project from start to finish until I handed the keys over to a property manager.
The perspective of this early bereavement and my questioning of the belief that one should educate themselves to the gills and then enter their career immediately heading towards the normal route of so many prompted me to quit my job and travel. Very incidentally I ended up in the wonderful city of Toronto.
Education (Systems) / Team (Relationships)
Being very hungry from my newfound interest in real estate and business I began reading several books on the subjects. The whole business world was a mystery to me. Not having had much exposure to it growing up I construed my own uninformed opinions; I had been somewhat of a skeptic. A real turning point in my mind was when I heard an interview with a very successful property man who was donating huge amounts of money to volunteer groups in South Africa and also participating in the involved work. This was eye opening, I felt very naive and somewhat ignorant that I hadn`t copped onto this possibility of utilizing amassed wealth for the purpose of contribution.
I attended seminars and courses on real estate and of course got sucked into the usual seminars which boasted how to make money in real estate over night and in some cases through fraudulent and unethical activity. This all did not sit right with me and I once again felt uncomfortable about certain aspects of the business world. However this did not deter me, I began to realize that the issue was not so much with the business world but with the type of people you associated yourself with. So I just kept searching for ethical and upright people that I could learn from and I`m glad to say that I found what I was looking for.
Action
So once relationships are built, the next step is action. This is fundamental and key; you must take the steps yourself. You can align yourself with a team of the top people in their industries, but this is all worthless until you begin to take the action required. I began to look at how I could buy property over here in Canada. Considering I was a foreigner I looked into extracting equity from my properties in Ireland to get me started. I was faced with a few more obstacles than your average investor but these only brought about interesting methods of investing when I refused to be told that I could not invest here without a job and income. I utilized the ability to joint venture and also availed of foreign investment strategies to purchase 4 properties here in my first few years and started several businesses with like-minded people.
Among these and other things, I also started a music project called Redxdown over here which has produced remixes for several artists, (Including Sarah McLachlin), and also released several of it`s own tracks, one of which is REIN`s theme tune heard at each and every meeting which still gives me a great thrill to hear. It is also available on iTunes for purchase, just search for Redxdown + When The Brightest Stars REIN. I have also performed several live PA shows entirely with original electronic material. This is my real passion and I intend real estate to fund many of my explorations into the world of music.
Since, I have recently gained my Principle Residence status and am 2/3`s of my way through the courses to become a realtor here in Toronto and am already prospecting some new joint ventures. I am also involved with a fabulous business called HomeOwnerSoon.com and am in the process of selling all equities in Ireland to fund many more properties here in Canada. It is amazing to finally feel some momentum having felt somewhat static for so many years. Finally Canada is a place to call home.
Now all this seems wonderfully idyllic with few mistakes made along the way. But this could not be further from the truth. I have made many mistakes on this journey and I will make them again. The key is to know that you are making them, and realize that if you were not making mistakes, you would not be learning. On my journey here, even though I may not have bought many properties I have broken boundaries within my mind and belief systems and so much new knowledge has been gained. So, so, many people to thank and give homage to; far too many to even mention but you know who you all are. Thank you.
"Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better" – Samuel Beckett.
Donal Ward McCarthy
www.homeownersoon.com
www.redxdown.com
