My Dream! My Vision! and A Joyous Hello To ALL

[jgill23]

Hello,



My name is Jyot Gill and i will be graduating in Accounting from Ryerson University within a month. I have been fascinated with real estate for quite some time now and am always looking to gain specific knowledge on the subject. I have had my share of pitfalls namely: my inability to close on my first deal and losing my deposit but i have risen from it stronger and smarter.



I learnt some very important lessons, one of them being the importance of learning what is relevant. i took some courses but all i learnt was about US housing market.I was trying to apply some of the methods to Canadian market and needless to say i failed So i decided to only focus on learning Canadian real estate, approach real estate personalities who only taught and practiced Canadian real estate.



My research familiarized me with the achievements and track of record of Real Estate Investment Network Canada. And So i picked a copy of Don's book" Real estate investing in Canada: Creating wealth with the acre system"; by far the smartest decision i have made so far.



I am completing tasks as i move along the book. The first task was to draft a vision and share it with you folks so here i am with my vision. Kindly share any feedback that you may have. I am looking forward to this journey of learning and application.



Side Note: i shall be attending the April 12-13th ACRE event. I cant wait to meet & greet the amazing team at REIN Canada as well as the REIN members.





5 Year Vision


Finally! I have arrived! Sun bathing; I am laying on a recliner, sipping on my Pina colada alongside my parents and my brother on a beach island that I own. Couple of yards ahead of me is an endless vast ocean with crystal clear blue water while beneath my feet is beautiful coarse, brown sand with a feel of velvet. There is calmness in the air disturbed occasionally, only by the chirping of the birds hovering in the sky. And each time I breathe in the fresh air, it invigorates my senses and refreshes my mind with the promise of a peaceful existence.





Living close to nature with the people I love, had always been a dream of mine and now that dream has come to fruition. One glance to my right and I can see the proof of realization of our dreams from the glitter in the eyes of my family: a reflection of their positive state of mind. In the next moment, I find myself gazing at the consortment of trees that run across the island in a U shape, arousing a feeling of admiration for the natural world. And in the center of that U, 200 yards in the backdrop is my majestic white house overlooking the beautiful landscape: built in a manner that is not only environmentally friendly but aesthetically appealing.





My life is a dream realized. Each night I sleep to the bright gaze of the stars visible through the glass roof of my master bedroom, and awake to the sight of the beautiful beach and crystal clear blue water. I am in top health; have kept my mind, body, and soul fresh through a combination of yoga and martial arts. Over the course my five years I have spent 9 months travelling to the far edges of the world and this year I plan to do the same.





My real estate business is prospering, I am generating 50,000 in positive cash flow from it, while also producing 20,000 in cash flow from a 3 star hotel that I own and manage. My real estate company gives back to the community by donating 10% of my yearly earnings to a charitable organization called `Change Heroes`: company that helps build the infrastructure needed to educate poor children in Kenya through crowd fund raising initiatives.





To conclude, I am living the dream that I have had since childhood. I intended to change not only my life but life of those around me; specifically the ones who are not born with a silver spoon, and need a little help in the form of infrastructure to realize their true potential. And I can proudly attest that my family and I have been able to make that difference through the positive power of my real estate business.





Warm Regards,
Jyot Gill
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entrepreneur, thinker, dreamer

 

[Thomas Beyer]

[quote user=jgill23]5 Year Vision ... generating 50,000 in positive cash flow from it, while also producing 20,000 in cash flow from a 3 star hotel that I own ... dreamer






Great Vision.



Keep it alive, but add a sense of realism and especially actionable items to it please. Unless you have recently inherited vast wealth, say $5M from a rich aunt or your parents this vision is NOT doable in 5 years. Maybe in 25, maybe, likely more 50.



$50,000/month cash-flow requires a mortgage free asset base of around $10M (times a 6% CAP rate / 12). As such, with a mortgage the asset base needs to be $20M+. That is doable, but that takes significant time and funds invested.



As such, focus on your initial JOB .. and unless it is in sales you will likely not make $100,000+/year for a while nor learn how to attract JV capital in the millions which is required for your vision ! To attract JV capital you need sales skills and a track record of deals.

Note the large period.



As such, after you focused on your job and don't get fired from too much day dreaming, save some significant money and then do a real estate with your OWN MONEY .. then two more .. THEN (and only then) ask others to invest with you. REIN will teach you how to do it, unless of course you dream too much in their evening and weekend events, too. Active listening is required, then application on a small, then larger scale.



Dreaming is easy. Executing with a sound plan, and sticking with it day in and day out is far more difficult. In other words:



1% inspiration and 99% perspiration !



Start here: After my graduation my first job will be as a _______________ making ____________/year. From this I will save ___% and buy a house within ___ years, while also working on a promotion to a _________________ because I did _______, _________ and ________ exceptionally well now earning _______ more/year.

 

[invst4profit]

Dreams last only a few seconds just moments before you wake up to the real world.

A vision backed up by a solid plan involving a load of money and more

hard work than imaginable can sometimes bring to fruition a long forgotten

dream.

A five year plan of building a solid income dedicated to saving money should get you to

beginning a 20 year plan of investing for positive cash flow.

Every time you think "dream" change that to PLAN.

Dreamers never accomplish anything in life until they graduate to acting on a plan.

 

[smmcguire]

Some quotes for your desk:

1. Success is simple, not easy ( Just like Britney Spears says...you gotta work B***ch, I think her experience is short on dreaming and long on hard working hours)


https://www.youtube.com/watch?v=pt8VYOfr8To


2. The purpose of business is to fund the perfect life.


3. No pressure-No diamonds!!!












*Don't listen to the negative input, it will keep you from your full potential.


https://www.youtube.com/watch?v=-i3g-RvC-iA

 

[jgill23]

Thank you for the suggestion Thomas. i shall incorporate your suggestions.



Regards

 

[jgill23]

Thank you for the insight Greg. I especially like the last quotation.



Regards

 

[jgill23]

Cracked a smile. They will be on my desk. Thank you