Scott McGillivray of HGTV’s Income Property.

Anyone who is serious about real estate investing should attend this event! I attended Scott McGillivray’s Wealth Tour event on October 26, 2014 in Mississauga, Ontario. Whether you’re looking to purchase your first investment property or you’re fourth or fifth, Scott offers invaluable information beginners and seasoned investors can benefit from.

You probably know Scott McGillivray as the host of HGTV’s Income Property, but did you also know what he’s also a successful real estate investor? Scott owns hundreds of rental properties in Canada and the U.S. Scott didn’t build his real estate empire overnight – it took years of hard work, sacrifice and dedication before he was “bringing cheques to the bank!”

Getting His Start in Real Estate

Scott shared his story of how he got started in real estate. It wasn’t because his father was a landlord (his father was ironically an accountant); it was  a project in university that helped open his eyes. While attending the University of Guelph in southern Ontario, instead of doing another business plan on a coffee or bagel shop, Scott decided to do something different and chose real estate investing.

Why did Scott pick real estate investing of all businesses? Let’s backtrack a bit. While attending university, Scott lived away from home in Guelph, Ontario where student housing was hard to come by. Students were often lined up outside rental properties, desperate to find a place for the next semester. Whoever had first and last month’s rent ready in cash got the place.

The rental property Scott ended up staying at wasn’t in the best condition. In fact, besides the first day when he met his landlord, he never saw him again. Scott and his roommates ended up painting the place, mowing the lawns and showing the place so much-needed TLC.

Every month Scott would deposit his rent cheque in his landlord’s bank account and ask for a receipt from the bank teller. One month when he forget his receipt, he rushed back and asked for a receipt. Instead of a receipt, the bank teller accidentally printed off a bank account statement and handed it to Scott. Scott saw that his  landlord was making a nice profit every month from his student rental property without lifting a figure. That’s when the light bulb went on in Scott’s head – if my landlord can earn a ton of money as a landlord by barely doing anything, imagine how much money I could make if I did a good job?

Buying His First Rental Property

This peaked Scott’s interest in real estate. After interviewing landlords, real estate agents and mortgage brokers for his university business plan, he had a much better idea about what it took to be a real estate investor.

Scott actually bought his first rental property before he even graduated from university. I know what you’re thinking – how is a cash-strapped student supposed to come up with the down payment for a house? Although Scott doesn’t recommend following in his footsteps, he used his student loan. Although parents of university students weren’t keen on their kids staying at Scott’s property at first when they saw how young he was, they quickly changed their tune when they realized he was serious about it.

Why Should You Attend Scott’s Event?

The 2-hour event was free and flew by. Scott shares his wealth of knowledge of real estate. The event was educational and entertaining. Did I mention you can take a selfie with Scott? Scott shares his many secrets in world of real estate investing .

While you probably already know the winter is the best time to purchase a house, did you ever consider buying on Monday, Tuesday and Wednesday? Once you have your rental property, it’s important to get the landlord-tenant relationship off to a good start. A hand-written card and a gift basket can go a long way. Scott shares his Million Dollar Blueprint where you can achieve a net worth of a million dollars through real estate investing. He also opens your eyes about the art of making offers and negotiating; when you’re an investor, you aren’t under the same pressure as a homebuyer that needs to find a home for his or her family.

Scott’s the first to admit his introduction into the world of real estate was far from perfect. There were a lot of bumps and bruises along the way. Those ready to take the next step can enroll in the Lifetime Wealth Academy, where you’ll learn from Scott’s mistakes and get the tools you need to become a successful real estate investor.

Scott is the first person to preach about the importance of being frugal – he lived in the basement. Scott lived in a basement for 9 years while renting out the upstairs unit to save money. While you don’t have to follow in his footsteps, there are some things to be frugal on – education is not one of them. Attend Scott’s next event and start your career as a real estate investor.

Are you a real estate investor? What is the best piece of advice you can offer?

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians, available now on Amazon and at Chapters, Indigo and major bookstores, and as an Audiobook on Amazon, Audible and iTunes.