Who is this guy?
Allow me to introduce you
Hey there Why Alberta Now readers!
First of all, thank you for reading my newsletter.
I must say, I didn't anticipate liking writing a newsletter every week.
It's a commitment, and it can be challenging when I have things going on with my real estate business that requires my attention.
Some newsletters are written in a couple hours, some could take as long as half a day.
Just like anything in life: When you do something repetitively for a while, it becomes a habit.
Now I find it part of my weekly routine to share my thoughts with you.
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We are continuing seeing our subscribers grow.
With many new subscribers I have never met before, I believe it's fitting for me to do a quick intro.
I've been investing in real estate for about 15 years.
For the first 10 years, I really didn't know what I was doing.
I chuckled today as I write this. When I first started investing, all I cared was to have 4 houses worth 250k each.
The logic was: If I could own 4 properties, each for 250k, by the time I pay off the mortgages in 25 years, I would have a million dollars for my retirement!
In the mind of a 24 year old, that was really compelling:
To have a million dollars before I turn 50 and live off the residual rental income for the rest of my life!
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It wasn't a lofty goal.
But the goal was very tangible and very doable.
It did require a bit of sacrifice from spending money on immediate wants.
That was how I got started.
Why am I sharing this with you?
I don't know where each of you are at on your real estate investing journey.
One thing for sure is that most people I know in real estate all started with 1 property... and grew from there.
If you were to ask me at 24 years old that in 15 years I would have an 8 figure portfolio with multiple 8 figure of projects under development, I would say you're crazy.
I came to Canada with just enough funds to go to 1st year of university.
Not knowing a single soul.
If I could do this, you can too.
It wasn't an easy journey, just like anything in life: To get the life you want, first require some sacrifice.
The point is, it is doable.
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Along this journey, I also learned stocks and options investing.
Learned them from some Wall Street veterans.
They left me with many questions to consider.
That's how I learned that most Wall Street banks aren't there to make us wealthy, only to make themselves wealthy.
Few years ago, a branch manager recommended me to join the Board of Directors at a local credit union.
It was intimidating at first, soon I was referred to as "the one who asks a lot of good questions" during Board meetings.
I felt under qualified when I was first nominated.
Many of the Board members have been there for years, with a few even decades.
Just like anything in life: If you don't ask, you don't get.
I was grateful for the opportunity to serve and ask questions that may sound dumb at the beginning.
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Wanted to do a quick intro of myself and also take this opportunity to invite my dear readers to:
Develop a habit with commitment
Sacrifice for now for a better life later
Ask more questions, even if you fear they may sound stupid
Speaking of asking more questions, I'm looking to launch another newsletter focused on helping people go from 7 to 8 figure real estate portfolios in the coming weeks.
Why another newsletter?
I see there are many educational contents out there teaching people about real estate, but very few focus on how to do proper risk management, how to scale their portfolio, how to manage an 8 figure portfolio vs. 7 figure portfolio, etc.
This new newsletter will be focused on that.
What questions do you have on this topic?
This will give me ideas on what to write in the coming newsletter.
Reply to this newsletter to let me know!
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Last thing about questions, if you have burning questions about your real estate business or portfolio, I'm considering hosting a mastermind soon.
Here's a short survey to fill out your question:
https://docs.google.com/forms/d/e/1FAIpQLSffPf7Gd4-FylflnquJ3mhfAw0oxvAglwBTfxxmB2XPJNIVOQ/viewform?
Cheers to asking more questions!
Eric Chang
Las Vegas, NV, USA
October 22, 2024
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