Many of us dream of climbing the real estate investment ladder, reaching the top and achieving long-term success. Sometimes, however, when the going gets tough, or when youre just starting out in real estate, this really can seem like just a faraway, unachievable dream. Most people with steady, secure, well paying 9-5 jobs and lots of monthly financial commitments struggle with the idea of quitting their job and jumping into any entrepreneurial endeavor full time. Many find it difficult developing even a part time side business with the many demands on their spare time such as family.
However, your full time job can actually be your biggest springboard for becoming a highly successful Canadian real estate investor. Thats exactly what happened with Derek Peever from Abbotsford, British Columbia.
BC Property Investor Derek Peevers Story
Derek started his career early in life in BCs marine industry, working on tugboats from age 17. He soon realized his unionized tugboat job could be a great springboard and stepping stone into real estate investing. Dereks job provided him lots of time off for doing property renovation projects on the side. Banks absolutely loved the fact Derek had a full time, great paying union job promising a great pension. So Dereks job paved the way for him securing nine mortgages on investment properties while still employed there full time. Over time he even found joint venture partner investors for his real estate projects among his tugboat colleagues!
Dereks union also allowed him the option of taking a year long leave of absence so he could focus more on his real estate investing affairs. Having the option of returning to his job in a year freed up a huge amount of time for Derek. The option also gave him a safety net, job security and protection of his hard-won job seniority in case real estate investing didnt work out or if he discovered in that year off he didnt want to do real estate full time. That option gave Derek a lot of confidence and bolstered his drive and determination. Derek actually stayed on full time in the tug boat industry for 9 years until age 26 before becoming a property investor full time!
Jumping Ship For Full Time Real Estate Investing
Early on in his real estate investing career Derek became a REIN member at age 24 while still full time working on BC’s tugboats. He leveraged REIN for growing his overall real estate knowledge, building his partner and professional network, and learning from the successes and mistakes of more experienced BC and Alberta property investors. Today, at just age 34, Derek has done over 100 real estate transactions over the past 12 years while establishing five businesses under his PeeverConn Group of Companies. Derek strives to be a leader by example and believes helping others is an important part of his success.
On the latest episode of The Everyday Millionaire podcast series Derek follows through on that promise of helping and mentoring other would-be Canadian investors. In the interview he discusses his career history and personal life in detail including his property investing accomplishments and the setbacks hes experienced along the way. Hell provide insights on how investors can thrive in BC and Albertas cyclical real estate markets.
Want to know what The Everyday Millionaire podcasts are all about? Patrick Francey reveals all in the below video.