Into the Mind of a Real Estate Master – An Interview with

Shawn Shewchuck is owner and a business coach with S. Shewchuck & Associates Ltd. Today he interviews REIN’s Senior Real Estate Analyst and Real Estate Investor, . Don has taught tens of thousands of people how to successfully invest in real estate for over 20 years. Not only does he own a variety of businesses catering to real estate education and investment, he also runs a very successful real estate portfolio and has weathered all real estate markets during his investment career.

Don shares his insights on entrepreneurship and what it takes to succeed in the business of real estate investing.

Shawn Shewchuck: You’ve been working and teaching entrepreneurs for a few years, why would someone want to leave the “security” of a job and take the risk of going into business for themselves?

: Entrepreneurship is not for everyone, but for those who have the right wiring and who can push egos aside and surround themselves with people smarter than they are, well you can’t beat it for lifestyle. BUT, and this is important, you have to make sure you LOVE what you are getting into. Don’t do it just for the money or because someone else told you they were doing it well or profitably. If you only half like it, you will inevitably hit a brick wall and hit it hard.

SS: As the founding partner of REIN Ltd., and the go-to expert on Real Estate investing in Canada, why is Real Estate Investing always a hot topic, and why do so many want to get involved with RE?

DC: The reality is that I know many, many entrepreneurs who have made money in their businesses then used these profits to buy real estate (and wish they had done it sooner). I also know many people who keep their jobs (banks love people with jobs) and built their long term financial stability using real estate. Truth is, whether in business or real estate: if you don’t have a system to follow and support your actions, it won’t work. When you do have that passion and systems to support you, combined with enormous amounts of patience and willingness to continue learning and studying your market, well frankly there is really no other way I know of to have a great life and build long term sustainable wealth.

SS: If I’m just starting out, and would like to go into business for myself, are there some practical steps or training in which I should engage?

DC: This may sound cliché, but first things first, define WHY you may want to go into business and that why cannot be just about money. Be BRUTALLY honest with yourself. Ask: What strengths do you have, what weaknesses do you have (and need to fill with other people), what is my end goal lifestyle? Your Personal Belize is what I call it. Do you TRUTHFULLY have the make-up and the fortitude to work through the rough patches (and yes there will be many)… or will you just run on to the next thing? Most people say they can ride out the rough patches, because that is the fantasy they tell themselves. However, at the beginning is not the time to live in a fantasy world. It is a start fact that most businesses fail. Often times it is because the leader wasn’t honest with himself from the beginning.

SS: I’m certain that some of us have heard that indeed Real Estate is definitely the way to go. Is this true for everyone, and is it as easy as some so-called experts make it sound?

DC: Like starting and running a business, real estate is not for everyone, but it is much easier than starting and running a business. There are very simple proven systems to follow that help mitigate risk and increase returns. There are leverage opportunities (both of money and knowledge). Real estate investing is NOT rocket science, you don’t have to be a member of Mensa to be successful at it, but having said that, it is not a get rich quick scheme that many people try to tell you it is. It is work, it is a business and it takes effort and fortitude.

SS: If I’m thinking about getting into a hobby, is Real Estate a good place to start?

DC: Real estate is not a hobby, it is a business. Stock investing can be a hobby, as it can be very passive. Real estate is truly a long term business with revenues, costs, financing, clients and it needs a long term business plan. Don’t PLAY in real estate; do it – or don’t.

SS: When it comes to success in business, do you have suggestions for an entrepreneur that hits a wall?

DC: First thing is to ALWAYS have the book ‘The Dip’ by Seth Godin on your shelf to read for these moments. Also, never compare yourself to others on the same path as you (see my recent article on how social media is creating uneccessary anxiety and depression in investors and business owners). Have a support team (who are NOT a part of your business). In real estate for many successful entrepreneurs that is a network like REIN.

SS: You’ve shared and taught thousands of investors and businesspeople across the country, what is one of the keys to the achievement of being a successful as an entrepreneur?

DC: Back to that word, fortitude, tied to integrity in all that you do. Never fool yourself or others, as it will eventually come back to haunt you. DO NOT let others or other ideas distract you from your core and always, always, always have a non-financial reason for doing what you are doing.

SS: With all of the people that you’ve worked with, can you share with us what you believe the top three areas of focus should be for an investor or small businessperson?

DC: #1 Cash Flow, Cash Flow, Cash Flow. Without that, even the greatest ideas or dreams can explode and make a giant financial mess.

#2 Do whatever it takes to protect your confidence. Dan Sullivan taught me this almost 20 years ago and I didn’t ‘get it’ until life taught me how important that is. Hey, the truth is not everyone in the world has your success as their goal (in fact, there are many who would LOVE you to fail). Your confidence must be protected.

#3 You must know your market. Don’t fool around hoping or guessing. Do your homework before and during your business operation or investment choices. You, and ONLY you, are responsible for your results (both good and bad).