Michael Ponte is an award winning investor, mentor and Founder of Prosperity Real Estate Investments Ltd. which; was has been established since 2002. His company has had significant success in both commercial and residential real estate investments where they currently hold and manage a portfolio of over 175 units worth over $30 Million Dollars. Michael Ponte and Prosperity Real Estate Investments expertise and success has been recognized by several associations like the Real Estate Investment Network (REIN), Canada Real Estate Investment Club and the Canadian Real Estate Wealth Magazine by winning several awards over the years and has been featured in books and magazines where he shares his wealth of knowledge. Michael is an avid public speaker and educator by also launching his training company called Prosperity Real Estate Education where he teaches and mentors others to be successful in the business called real estate investing.
This is a great question and I always love hearing other entrepreneurs stories as you can learn so much. For me, I was working for a very large corporation and I was in a high level management position. I worked tons of hours, travelled 2-3 weeks out of every month but made lots of money.
Having a young family the travel part was hard and missing out on key events with my kids growing up was difficult. This is what motivated me to start my business. Like many entrepreneurs it started working late nights and weekends and after about 2 years I felt I was able to make the leap of faith.
In those two years of starting the company up, I saved to help deal with any financial constraints when leaving my high paying job. This was one of the best things I ever did because that first year it was tough taking such a big pay cut but it motivated me to work hard to make this work.
15 years later and I can honestly say that was the best decision of my life and the best part is I get to take my kids to school every morning and work my own hours.
For me it wasn't about making millions of dollars, it was about getting my time back with my family and time is something you never get back.
Best advice I can give, is have a clear plan before leaving your job and prepare to the best of your ability for circumstances to arise.
This question was raised quite sometime ago but I thought I'd chime in as well. When looking in real estate their are great places to invest all over the world and believe it or not every country. It all falls on the simplest fundamental and that's job and population growth.
It's important to look at cities where major projects are happening ie. new transportation line, development of a new dam or an opening of major mine....just to mention a few examples. The key is all these major developments are the creation of jobs and people tend to move where work is available. These people moving are either renters or buyer regardless that's good for us investors if we get ahead of the curve.
Start with a macro perspective by doing research of a country with the focus on where jobs will be created and then narrow it down in what city. If their is jobs being created, that's a good sign of possible economic growth and in-migration. I'm just touching on this topic but more then happy to elaborate if you want to learn more.
I've been investing in residential and commercial real estate for the last 15 years and we spend a large percentage of our time focusing on researching new markets to invest in.
Absolutely. I'm echoing a previous answer made as this is called a Joint Venture partnership which is different then a partnership of a company. In a joint venture, you can have the investor participate in a specific product or a separate division of a company (which should have it's own separate P&L - Profit and Loss report). Have your lawyer draft up an agreement laying out how the JV structure is being formed, what product and financials it's related too and most important how the exit strategy would look like. We use this strategy in most of our real estate investment holding and it works great.
If I can be of any assistance in providing more clarity to this, please let me know.
Hope this helps and good luck!