Episode 5: Your Wealth Building Blueprint – Part 3

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Now that you’ve taken care of a plan to identify and fund your first investment on your journey to financial freedom, there is no doubt that you are going to want to get started faster than your pay yourself first strategy will currently allow. 

In this episode we’ll outline two strategies where you can learn to supercharge your investment seed money. 

 This is the third and final episode in the Wealth Building Blueprint series.

What you’ll learn:

  • Where can I find money that I have access to so I can fuel my financial future; 
  • Why paying down your mortgage as fast as possible isn’t always the best strategy for financial freedom;
  • How to benefit from other people’s assets; and, 
  • Why you are the average of the 5 people you hang out with the most.


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Matt Biggley: Welcome to the Canadian Wealth Secrets Podcast with Kyle Pearce, Matt Biggley, and Jon Orr.

Jon Orr: Get ready to be taught as we share our successes and failures encountered during our real life lessons, learning how to build generational wealth from the ground up.

Kyle Pearce: Welcome back invested students to another episode of The Canadian Wealth Secrets Podcast. We are so excited to be back with you in this third part, the final part of our Wealth Building Blueprint episode series.
Matt, for those who either need a little refresher or maybe they missed the last episode, what were we digging into and where are we off to today?

Matt Biggley: I loved our last episode. Thanks, Kyle. I think we dug into some really valuable material and explored some ideas that will help people with their investing journey. We talked about how to get started investing in real estate through ideas like improving your primary residence. We're actually going to explore a really cool subsequent idea about how to use your primary residence today to turbocharge your investing seed money, so some ideas on how to get started.
We also talked about how you might enter the stock market in a way that's easier and safer compared to what you might currently think. I, for one, was pretty overwhelmed by the information and the various strategies in the stock market, so I appreciated that conversation.
And thirdly, how we can become a true invested student and what that could look like from one person to the next can be so incredibly different. And that's where this can get exciting. So many different avenues to explore and places to take you. And the cool part is being able to do it together.

Kyle Pearce: Love it.

Matt Biggley: Yeah.

Jon Orr: Yeah. And this being the third part of our Blueprint Series, the other two parts like Matt talked about, our last one are kind of a summarized our last episode, but where we talked about getting started with your investment money. The first episode we talked about the first two strategies, which was designing your budget and also paying yourself first so you can get that seed money, which leads into some more strategies that we're going to talk about today, which is about how to grow that investing seed money faster.
Like Matt said, how do you supercharge that? Because we don't want to wait around. We might be systematizing our budget in paying ourself first, and we're waiting for that fund to grow, but we want to... How do I grow that a little bit faster? What are some strategies that we can put into place now to bring that fund up so that we can let compound interest and compounding effects do its thing?
So we're going to talk about a couple of those today, but also we should be able to get into talking about how to leverage other people's money as a strategy as well, which is our fifth strategy. So we're going to get into all of that here in this episode. But thinking about supercharging that seed money a little bit faster, one strategy that I think we can think of is I've already systematized. I'm putting money into my registered retirement accounts or my tax-free savings account here in Canada or an IRA account or a 401K account. We've been putting these money over here and here and here thinking about our financial future down the road, our retirement vehicles.
One thing to think about is we've been doing that, and I did this for my wife's account mostly because that's the thing to do, right? You're supposed to do that. Do we actually think about how is it growing? What's it looking like? Am I checking my returns on those things? Could I be doing this more quickly? How could I supercharge that to also take that chunk of money and maybe repurpose it somewhere else? I know that we talked about an episode two about how to pay down your mortgage faster. And I think we wanted to think about how we could do that, but also in that episode we talked about that debt equity idea.
It's like, I've paid my mortgage down faster. I'm putting all this money in these right spots according to my budget, but that debt equity sitting there, and how can I use the equity I've built in my home to supercharge this investment fund that I can use and put in other places? And I think we, all three of us, have used that idea. And Kyle, I think this is a great time to talk about what you've done because you helped me on this journey on thinking about how to use the equity in my home to supercharge my investment fund and get into real estate and use that money that's sitting there already as my starter.
So, I'm hoping you can shed the light on our listener here to give them tips, ideas, on how they can use some of their funds that they have available to get this going.

Kyle Pearce: It's almost like maybe there's more money available to you than you think. And this was new to me back when I started this journey, this investing journey. Back in about 2009, 2010, is when I started really thinking about maybe there's a way that I can do better than just my pension. Just like you, Jon, I was like oh, I got this pension. It's going to be a good pension and I'll be fine if I just let that happen. And then you start looking at, well, people say you should put a little bit of money into these retirement buckets like a IRA or a 401k if you're in the US or a RRSP here in Canada. So you do a little bit of that, but you're not really sure why or where it's going or how it's going to grow. And I was also doing this thing where, again, I talked about it in episode two where I thought the goal was to pay down your mortgage as fast as you can.
There's interest to be saved there, and I get that. If you're not going to do any investing, then that is a good strategy. So I was doing that. I was making extra payments. And actually, Matt, your story from last episode resonated with me. We didn't do it as aggressively as you and Leslie did with the primary residents in improvements, but Chantel and I had bought a power of sale, which is essentially, here in Canada, like a foreclosure. And it was in really rough shape, so we had improved that property. At the time. I didn't understand about debt equity or any of that stuff, so we just improved it so we could live in it and it was affordable to us. So we got a home that was maybe a little bigger in a nicer neighborhood than what we may have afforded otherwise if it was already done and nicely decorated and taken care of.
So, we're paying down this mortgage, and after a number of years, it would've been maybe five years or so, it dawns on me that I'm like, maybe there's this thing called real estate. I read a book, Rich Dad Poor Dad, and I was like, wow. I've got this all backwards in my head. I'm working to pay off this mortgage when in reality I should be trying to buy assets. And Jon, I think you'd referenced it before. It's this idea that a lot of people still believe their primary residents is their biggest asset, when in reality it doesn't decrease in value so that is good.
But there's a lot of expenses associated with it, and it doesn't generate any cash flow. So it's actually not an investment. It's just a better place to put money than, say, a depreciating asset or a depreciating expense. So I started thinking about this and going, wow, my house is worth this much and I only owe this much on it. What about all this other money here? And this is where I started to realize.
Because I was paying down my mortgage, I did not have money to invest. All that extra money went to the mortgage. I didn't have a seed fund of money to invest in anything. I was just paying down the mortgage. So I was like, wait a second. I went to the bank and the bank said, "Yeah. We'll give you a line of credit, which is tied to your home." So your home is actually the asset it's going to be tied against. So that's called a home equity line of credit. The collateral is the home. So it's like you're adding another mortgage onto your home. Now if you picture it, you've got your regular mortgage amount. Those watching on YouTube, I'm trying to use some hand signals here.
You've got your regular mortgage and then this line of credit is going to account for the other value that is available to you in your home. Now, depending on where you are, that amount you can borrow is going to be different. Here in Canada, you can do a home equity line of credit up to 65% of the value of your home. For others, you might consider even just refinancing your home to release that equity and stretch out your mortgage a little bit, so you have this seed money to invest elsewhere.
And that is, essentially, where I went. I was like, wow. I want to buy investment properties and I am going to use some of the equity. I've built up this dead equity that I've built up in my home in order to help me fund the purchase of, not only an appreciating asset, but one that's cash flowing and that is going to actually have someone else paying down that mortgage for me.
So it's like I'm still getting some of that pay down aspect, but it's going to be somebody else who's actually doing the work or paying the money for it.

Jon Orr: Kyle, so this is a strategy you helped me understand as well, and I use this to help buy the property that we bought together from my home equity line of credit. Now, one of the questions I remember having to you back then, this might be something that a listener has right now, is that, look. You are borrowing money from your home equity line of credit. It's not free. You don't get a free pay here. It's not all of a sudden... Unless you refinanced your home and you got that chunk of money put into your bank account. But when you go to your home line of credit-

Kyle Pearce: Still not free though, if you refinance.

Jon Orr: ... Right.

Kyle Pearce: You still got to pay that interest, right?

Jon Orr: Right. But if you go to your home equity line of credit like I did, and you withdraw from that account, that is a loan that the bank is making to you at an interest rate and you're going to go and buy a property with that cash as a down payment. That's what we did as a partnership. But one of the questions I had was, how do I account for... I'm going to borrow this and pay it over here and then...
Yeah. This money over here is going to pay the mortgage of that new property. It's going to pay the expenses. All that rent from the renter is going to pay all that. And that's that asset that generates that. But what about the interest I have to pay back here? Do I have to make sure that all this gets accounted for? Or how do you think about that interest?
Because a few ways I think you can think about the interest you're going to pay, because that becomes a monthly expense on your personal site.

Kyle Pearce: Absolutely. So that is something and it's worth mentioning, is that when you are investing in a property, of course there is a lot of due diligence that you want to take. So first of all, you want to make sure, is it going to be a good solid property? Do I want... Like you talked about stocks like owning Disney or owning CIBC here in Canada, or Bank of America. These companies you know aren't going anywhere, and you're like, I feel good having my money sit in those companies.
Well, the same is true for real estate. I want to feel confident that the property I'm purchasing is going to be a good property. I want to know what's going to happen. We're not suggesting that hey listen, you need to have a property that's in perfect condition because actually that's the opposite approach to what Matt and I typically invest in. It's usually the opposite.
But you just want to know and you want to account for how much that's going to cost to the best of your ability. Of course, nothing is guaranteed. And you also want to be doing all of the calculations based on the market rents currently and maybe where the market rents are now. And maybe they're not at market rents if there's already a tenant in place. You want to make sure that that rent is going to not only cover the expenses of that property and the mortgage payment of that property, but ideally it's going to also be giving you the interest you need on your down payment, which is over here on that line of credit.
Now, nowadays, that is getting harder to achieve. It is harder to find solid cash-flowing properties. So you have to look at it in maybe two different ways and think, well, listen. If I'm going to borrow some of this money from my home, is that interest payment, do I want to treat it like that extra pay myself first money?
So if, let's say, I had originally committed to put $400 away every month, is that interest payment $400 or less? And that might be your commitment to pay yourself back in order to get into the market and start doing this work. But in a perfect world, you're going to have enough cash flow that's going to cover all those expenses, any borrowing that you've done on this investment property, as well as covering the money that you've borrowed against your own personal resonance or your home equity line of credit.

Jon Orr: That's a great way to look at it, too. And I think there's another way that you helped me understand it, too. I think you outlined it just a tad bit there in thinking about, I might be paying this interest now, but there is a strategy that you helped me understand that in the future you're going to own this rental property you're renting out. It's going to appreciate in value, hopefully. Hopefully it's going to appreciate in value.
And at some point in the future, a number of years down the road, what you can do... And I thought this was a genius strategy, and I couldn't believe that this was a strategy out there that almost was possible, is that say let's say in five years you look at refinancing that home with the bank and going, look, it's appreciated value. Can you guys go and assess the value of this home?
And then you're in a position that the bank's like, you know what? It's appreciated this much. Now it's worth this. And all of a sudden when you refinance that, help a listener understand what that process is. Because I think when you refinance that home, all of a sudden you've got a new mortgage and all of a sudden it's like you've got this lump of cash that the bank's also going to just hand you? It seemed crazy to me when you guys outline this strategy to me, because you can take that extra money, all of a sudden you've refinanced it at a higher value.
And the bank's going, we're going to redo the mortgage. Here's the extra money. And now you can take that and helped pay off all that interest over those course of those years and give you yourself, your investment money back. Help someone understand that that is a real possibility here, and you can recoup all of that upfront money. It's almost like you're putting money away and saving it for that, but it's a backwards way to think about it.

Kyle Pearce: Right. Well, it's kind of like if you go back to Matt's story where he was taking his primary residence, improving it, and then selling the property. A refinance works in much a similar way. Whether you improve your property or not, oftentimes, the real estate does appreciate over time.
Now, we don't want to get into an investment with appreciation as the end goal. We want to use real estate as that hard asset that we're like, we know it's there. It's physical. I own it. Nobody can take this away from me. And it's going to generate cash flow. That's the main goal there. And that cash flow is going to pay off expenses, pay off principle on that property and hopefully put some money in your pocket. And the appreciation is a cherry on top.
But oftentimes... Again, I'm being very cautious with my words here. Oftentimes what happens is, over time you continue to keep the property maintained, you might add a few improvements here and there. Oh, the furnace goes in this property, so you put a new furnace in. You've done some of this general upkeep, which are expenses that, again, the rent is paying for. And then at some point you may look and go, holy smokes. The market, in general, has rose, which means this property value has risen as well with the market.
And when that property value rises, that is essentially opening up more, we'll call it, more dead equity, right? Because if the value of the property keeps going up and your mortgage is down here and it keeps going down, it's like you're getting actual bonus dead equity in there. It's almost like without doing anything, you started not paying down your mortgage but you are opening up more equity that's available to you.
So ideally, in a perfect world, you're going to have this investment property after some number of years. Sometimes it's only a couple years. Sometimes it's five years. Depends on the market. And it also depends on maybe the improvements you've done on the property. You then can go to the bank and say, listen. The property was worth a hundred thousand when we bought it. I put 20,000 down and I had an $80,000 mortgage and we continued paying that down. The property's now worth 200,000, let's say. And I only owe 70,000 on this property. I can then release the 80% of the value, the current value. So if you picture this, if I owe 70 and I can actually borrow 80% of the value of this property, that's like $160,000 of the 200,000. So it's like you're actually getting the difference between what you currently owe and what is available to you through the bank.
Now, word of caution. When you do that, what happens? Well, your mortgage payment goes up. You may choose to stretch the amortization out from... Let's say it's been five years. You have 20 years left on this mortgage. Maybe you stretch it out to 25 again, because the goal here is that someone else is going to pay your expenses and pay for the interest and principle on that property. And like you said, Jon, where would be a great place to put this money that you've released from your investment property?
Well, I take it and I pay off whatever's left of that money I initially borrowed. So we would call that now an infinite return on the property. As soon as I can get the money that I've committed-

Jon Orr: And the bank just gives you this cash?

Kyle Pearce: ... They just give... Now, mind you, they are going to... They're going to thrift you.

Jon Orr: Well, you are making another loan, right? You are making another loan.

Kyle Pearce: Absolutely.

Jon Orr: But the renter is paying that off.

Kyle Pearce: Exactly. And the bank's looking at it and going, okay. So I'm going to lend you 80% of this. Basically, the reason why they do that is because listen. If something goes wrong, the market sinks or you lose your job or something happens where you stop making payments, the bank has that 20% cushion based on today's value of the property it's appraised at. You can't just go in and say, "Hey, it's worth 200."
They're going to say, "Nope. Let's get an appraisal done." All of that stuff. And then basically they're going, listen, if they ever had to take that property back, they're like, that 20% is the cushion for the hassle, the time, the realtor fees, the legal fees to sell that property as a power of sale or foreclosure.
Of course, we don't want that to happen, but that's their thinking on their end. They're going yeah, of course I'm going to lend this to you. You are generating this much rent. You are capable based on your current financial situation to make these payments. And I trust that you're going to do that, because you've made your payments on time to this point. And now you're able to bring this money back, put it on your home equity line of credit. And then essentially, what I look at my home equity line of credit is, basically my seed money for the next investment.
So the goal is, if I can take money from here, put it over there, grow it, take money out to pay this off, I'm okay with having a larger debt on an investment property than I am with my own personal resonance. However, to get started, it might mean increasing your own personal debt in order to make this happen over here.
So you just have to look at your own situation and go, what makes more sense for me? And if I have debt equity and if I have enough of an income coming in where I could sustain that interest on my home equity line of credit where, we'll call it, to take that risk, to take that money and make an investment over here, then it makes perfect sense to do so.
Now, I'm going to also say on the other hand, if you're the type of person that you're already stressing at night about your mortgage and so forth, then clearly this is not a good idea for you, right? If you are anxious and stressed very easily about finances, then there's a lot of mindset work you probably have to do. This goes back to Matt's suggestion a couple episodes ago. You have to really work on your mindset and your thinking, because we've been trained to not do this.
We've been trained to do the opposite of what we're talking about. What I did is the opposite. My parents were worried for me. Friends and family were like, do you know what you're doing? And it made me actually very nervous at first, as it probably should be. It's very serious.
You want to make sure that any investment you're going into that exactly what you're doing and why you're doing it, and not just going with this speculative approach that hey. I'm going to get all my money back, guaranteed, in the next couple of years, because the market's going to increase, or whatever people sometimes think.

Matt Biggley: And Kyle, there's a reason why we scaffolded the blueprint in the way that we did. And I'm really... This was thoughtfully done. We want you to be financially responsible. We want you to feel in control and aware of your finances with that budget before you start tapping into this HELOC. This goes back to earlier conversations we had about this fundamental conversation about good debt versus bad debt. You could take this HELOC and do all kinds of crazy things with it and spend on consumer goods, spend on things that aren't assets. Or you could put it to good use here, use it for investment properties, and to generate that investment income. And this goes back to that fundamental idea we talked at in the early episodes that our well-intentioned parents and teachers taught us to pay down this mortgage and to get mortgage free.
Well, we're turning that on its head and we're using our mortgage and the equity we have in our homes, you call it the debt equity, to be able to turbocharge our investment opportunity, our investment income.

Kyle Pearce: Yeah.

Matt Biggley: And you talked about the refinance, and that's where things can absolutely compound is when you then refinance investment properties, not just your own primary resonance. And then you're able to actually take out all of your money that you initially put into that investment property. This is when investing gets really exciting and really, really crazy as well.
This is when things really get turbocharged, when you do that reinvestment. I've got an Airbnb property that, at one point in time, was a primary residence. We converted it to an Airbnb. We bought it for under $300,000. When we went to refinance it with the bank, it appraised at over $900,000. Crazy, crazy.

Kyle Pearce: Remember. Disclaimer. Doesn't mean it's going to always happen that way, but you guys did a ton of work to it and the market was favorable. But 'it's possible,' is kind of the point, right?

Matt Biggley: Yeah. Just like all of our homes, we bought it with the intention of living here forever. We forced the appreciation by renovating it, but we didn't refinance it right away. Our intention wasn't to use this house to turbocharge some other investment. We decided to hang onto it, turn it into a successful Airbnb. That's something for a future episode. And when we decided then to get a mortgage on the property, we were blown away at the value of the property.
Now, cool side note. I've actually just recently severed a lot from this property that we're then going to do something with. Build some rentals on, build another single family home, build another Airbnb. I don't want to go too far down the rabbit hole.

Kyle Pearce: I think just a man cave, Matt. Just build a man cave. We'll record the podcast there.

Matt Biggley: It's so great how you can just start to stack these strategies on top of one another. And this is when things, just as I said, compound, turbocharge, supercharge, whatever the terminology you want to use. Whatever the adjective. And we have seen it in our own investment properties that we've managed to refinance and then use those funds to go and buy other investment properties.
This is truly one of those mind-blowing moments of investing when you first of all realize where you can access this almost, we call it, secret or hidden money that you didn't even realize was there, put it to work for you, and then down the line, get all of your money back and literally just start that infinite return on your investment by using that refinance money to purchase other properties.

Jon Orr: I love it.

Matt Biggley: Yeah.

Jon Orr: What a great way to, like you said, Matt, supercharge that investment fund. It's so amazing to think that you can take that, buy this using that as a down payment, and get it back and do it again. And that's where it's like, all of a sudden, that thing over there is now... Think of it as your investment fund generator because it's just generating money over here as investment property, and you don't actually have any of your money in it. You can go do it again.
And that's like using your money as your seed money. And that's like the fourth, right? That's our fourth tip, our fourth piece of the blueprint, which is about how to supercharge your seed money faster. And then the fifth part, this is a final part of our blueprint, which is about how do you supercharge your investment fund, but use other people's money?
We call that like OPM. So Matt, how have you maybe used that in the past? Or how does a person listening right now think about using other people's money to do that? Because most of the time we think about using our own money. How do I set aside my budget? I want to pay myself first, which was our first two strategies to generate this seed money. We talked about using our home equity line of credit for just now as the fourth strategy to generate that seed money. But how can I use other people's money? Because I know both you and Kyle have done this. I was your other people's money.
So give our listeners a sense of how they could also get started in using other people's money to create their own investment funds.

Matt Biggley: Yeah, we're going to call this JM, Jon's Money. Jon's Money. But yeah, I think where this is so interesting is when you can... We've talked about this, about investing being something that can be social, that can be done together, that can be done almost more safely if you can partner with the right people. And so, where we have used other people's money is in joint venture partnerships or JVs. That's a common term you'll hear thrown around the investment ecosystem.
And so, I'll say a caveat first of all. This can also be in many of the topics we've talked about. This can be incredibly dangerous and one needs to be at a level of investing where they're sophisticated, where they're incredibly responsible, and where they're totally transparent when you're bringing other people into your investments. And there's definitely some investment cowboys out there that I think have got a track record of being really reckless in using other people's money.
You need to almost treat other people's money as more valuable than your own. And we go back to the levels of due diligence that we do. This is one of the reasons I became a realtor myself, so that we could complete that extra finite due diligence on our properties and make sure that these investments were really sound investments when we started to use other people's money. So in the case where we first started to use other people's money, the very first instance was with you, Jon. We knew that you had been interested in investing. That many people were a little bit scared about first steps to take with real estate, intimidated by the thought of dealing with tenants, collecting rents. There's a lot of horror stories out there.
And to be honest, if I hadn't started investing with Kyle, and I guess in a way when we partnered together, we were using one another's money in order to buy bigger or better property, so almost we were using other people's money from the start. I probably... Well, I can say not probably, I definitely would not have the investment portfolio today that I do if it wasn't for using other people's money and for partnering together in order to do that. And maybe I would have a duplex or maybe I would've been overwhelmed and sold it already. So I think that's part of the appeal of doing this together and using other people's money.
So, when we reached out to you knowing that you were someone who wanted to invest, knowing that you had access to some equity and that you wanted to dip your toe in real estate, we went and found the property, vetted the property, completed our due diligence on the property, and then negotiated the property. And then brought you into that. So the value for you, as I would've seen it, is you had a chance to safely enter into an investment, your very first investment, knowing that your investment partners whose money we were using allowed you to do that in a way that you'd have confidence. That if there were issues or problems or some of those common pitfalls that people encounter in their first investment properties, there were going to be answers there.
There was going to be experience, there was going to be expertise there, to be able to address those things. And on your side, nothing's of course ever guaranteed with investing and with real estate, but there was a very conservative number that we could suggest you would realize as a return on your investment. So in that case, you brought the down payment, you took out the mortgage on the property, and you're actually on the title of the property for that first duplex that we bought together.
So, a really great example of coming together in a way that was safe for you, in a way for us on our side of things, the value proposition there was that this is an infinite return. We have $0 invested into this duplex, so that's the upside for us. The upside for you was this safe, well-vetted investment where you could partner with people who were active and experienced in real estate investing already.
That was the beginning of our OPM journey. And as I said at the beginning of my comments, we're really careful when we do this to make sure that the investment is a sound one and that we're being so incredibly cognizant of how we deploy someone else's hard-earned money.

Kyle Pearce: Yeah, I love it. And Matt, I'm thinking back as well. We're pretty, I think maybe sometimes too conservative at the numbers we tend to share, because we don't want to overpromise anything. And in this particular deal, which with Jon was only a number of years ago, we had a number in mind for Jon of around, I think it was, 10 or 12% return on his investment. And again, through the rent increases and through... So we don't take projected rent increases. We add a very small appreciation rate of either two or 3% per year as the typical standard appreciation rate.
And already the property value has more than doubled since the purchase, which again, as we come closer... We could refinance right now, but we're going to wait until the end of this five year term on the mortgage to go, Hey, let's go back. And of course, interest rates are higher, so it's not necessarily something we want to jump into to pay a higher interest rate now. But that's going to release that equity. And then Jon is going to be taking that money back and it goes back into his little seed fund of what's the next property that he's going to dig into, which is a really, really awesome benefit.
And Matt, going back and picturing, remember, you had already been doing all of your primary residence flips, and I was already doing some investing in the US. I had bought a property with my home equity line of credit. I bought a Florida property and an Arizona property in Phoenix. I still have the Phoenix property, the Florida one I had sold when we purchased this or built this house that we're living in now. We had both already done some investing and there was a property that you and I had both had our eyes on and by chance through conversation when we first met, he was the guidance counselor at my school.
I was a math teacher, and we just were chatting and we're like, wow, you're into real estate? Oh, I'm into real. We were like, wow, there's this really cool property. I'm way too scared to do it by myself. And you were like, oh, is it this one? And you said the property address. I was like, that's exactly the property. And that's when we had put our heads together and you had said it's almost like borrowed each other's money. But really what it is, is it's bringing expertise together. It's bringing the value that each partner can bring to the table.
And I think that's what this is all about. It's not leveraging other people's money. What you want to do is you want to leverage other people's assets. And what I mean by that is the asset of either expertise, available capital, borrowing power sometimes is where the value could be. You might have a really great paying job that allows you to have a larger borrowing amount than somebody else. That can be value in a partnership.
So really, I think the message here is that when you're thinking about investing, you can go alone, but going alone takes a lot more time. It takes a lot more effort. It takes a lot more education on your own part. And sometimes it takes... I feel like you have to be willing to take a greater leap or a greater risk. Whereas when you come together with people and you know when you're chatting with someone and you go, this person is bringing something different to the table than what I'm bringing. This is where a true partnership comes together. And this is where honestly, I think true wealth is generated. If I went alone back then, just like you said, Matt.
If I went alone on that property, first of all, I don't think I had the risk taking ability at that point in order to do that.
That turned out to be a complete grand slam property. It was everything and more that we could have imagined. And again, it was partnership that allowed us to do that. And I hope, for me, when I think about the strategies that we have here in this blueprint that we've been sharing over these past three episodes, I hope that one of the big pieces you take from this episode is that you can and should leverage the partnerships around you, the relationships around you, or you need to reach out and you need to find those partnerships.
And I know for us, sometimes out of the blue, we get people that come in and say, Hey, listen guys, like love what you guys are doing. I want to be a part of this and this is what I bring to the table. Sometimes it's money, sometimes it's connections, sometimes it's other things.
If that is you, definitely, definitely be reaching out to people. And of course, we would love to get connected with you as well. So on our Canadian Wealth Secrets website, you can head to investedteacher.com/partner and you can reach out and just give us a few details about who you are, where you are, and essentially what's your superpower.
Now we're saying that. It doesn't have to be a real superpower, but everybody brings something to the table and we would love to learn more about you. And if it doesn't make sense for us, we would love to connect you with someone else that might be in need of that superpower.

Jon Orr: Great tip there, Kyle. It brings about a phrase I've heard a lot over the last couple years, which is that you're the average of the five people you hang out with the most. And surrounding yourself with people and a team or partners is a great way not only for you to build your wealth, but also build your own assets, whether it's information or understanding.
I know that surrounding myself with you two, I've learned so much over the last few years to put myself in a position to change the trajectory of my financial future. And I like that you said, if one of the big things you get from the series is that in partnering with the right people... And I just want to take a moment here and recap our blueprint for building your wealth and your financial future.
We started our series off with the first two steps in your Building Your Wealth Blueprint, which was designing a budget. What are the priorities you want to set in your life? What do you want your life to look like? How can you redesign your budget to allow you to have some seed money?
We talked about a second strategy or the second step, which is about paying yourself first. It's linked to the budget, but it's really this idea about putting this seed money or this investment money at the forefront, setting aside money now to say, I'm saying this is a priority in my life. I'm going to put money here first, and then the trickle down happens after. Now it allows you to have this extra money after to redeploy in other areas of your life that you need to, but you're setting yourself up for this investment part of your life first.
And the third strategy was about planning or deciding what that first investment was going to look like. We talked about real estate as an entry point. We talked about buying assets is really the big idea there. But we talked about some stock market ideas in designing that.
And then in this episode, we talked about the fourth and the fifth, the fourth being about how to supercharge that seed money. Specifically, we've been talking in this episode about real estate and how you can use equity that you have access to, to choose supercharge that seed money and build almost an infinite return.
And then this final strategy, the fifth, which is about using other people's money and surrounding yourself with the right people so that you can supercharge that seed money. So we got five strategies there for you to change your wealth in your financial future, and you can go and download all five of these strategies and the summary of these five strategies at investedteacher.com/blueprint.
That's investedteacher.com/blueprint.

Matt Biggley: All right, as we wrap this, another great episode of the Canadian Wealth Secrets Podcast, we'd ask you to please leave us a five-star rating and review, and to share this podcast with your friends and family.
As has been a theme throughout, we want you to grow your wealth alongside with others. So sharing this makes such a big difference for our podcast and also may help you discover some potential partners in your investment journey.
Make sure you hit subscribe on all our social media platforms. We are @InvestedTeacher on YouTube, Twitter, Instagram, Facebook, and just maybe, TikTok as well.

Kyle Pearce: I love it. I love it. So yes, do that sharing. It means a ton. And remember, all links, resources, transcripts from this episode can be found over on the website at investedteacher.com/episodefive.
This is our fifth episode of this weekly podcast. Once again, investedteacher.com/episodefive.
We will make sure to put all of those links, including the blueprint link, as well as our partner form link. We want to learn more about you, and again, if we have an opportunity that we can share with you or maybe a connection that we can link you up with, we will do our best.
We love seeing people become successful along their wealth building journey.

Matt Biggley: Just a reminder that this podcast contains no investment advice. It is for entertainment purposes only. The content is for informational purposes. You should not construe any such information or other materials, legal, tax, investment, financial, or other advice.

Jon Orr: All right investor students, class dismissed.

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