A Guy Who’s Gone From TV Broadcaster to Full-Time Ottawa Real Estate Investor in 3 Years, That’s What
So far in this series you’ve met Derek, Zach, and Tara.
Time to meet the 4th story: Rich Danby.
Gregarious, outgoing Barrel of Fun, if ever there was one …
But you’d never know that back in 2011 … the Barrel of Fun wasn’t feeling it.
In television broadcasting since 1999 … he started seeing long-time colleagues disappear … (“Where’s Joe?” “Laid off.” Long pause. “Oh.”) …
And began wondering …
… if television was the smartest place to be for a man with family responsibilities.
So 2011, following his nose … he found himself at an event in Toronto, where a strange westerner was holding court about the power of raising capital with Other People’s Money (OPM).
This westerner was emphasizing the PBJ (peanut butter & jelly) sandwich concept:
- Become a real estate expert
- Bring people together who have different things to offer
- Analyze the numbers
- How to make sure your property is profitable
- Offer to share the profits with people in exchange for giving you the money to do it for them.
No money of your own.
None. Zero. Zip. Zilch.
See the opportunity. Pitch it in such a way that potential funding partners can see it … Presto! you’re a real estate investor.
Too good to be true?
Rich was suspicious. But he’d gone to the trouble (and expense) of going to the event, so s’pose I might as well buy the guy’s CDs. (Remember CDs?)
Back in Ottawa, Rich immediately had to spend a weekend painting the basement apartment he’d just bought and was about to rent out. To fill his mind, he listened to both CDs twice through.
And then … something pivotal happened. Here’s Rich in his own words:
I was gonna buy another property. A triplex.
At the time I didn’t understand private money. I was going the same route as everyone else: Go to a bank, get a loan.
Right before I was supposed to waive my finance conditions, my mortgage broker calls. Conversation went like this:
Broker: We have a problem.
Rich: What’s the problem?
Broker: Your wife is on maternity leave right now. They’re not gonna approve the loan, because there’s no guarantee she’ll go back to her job.
Rich: Yeah, but she is gonna go back to her job!
Broker: Yeah, I know. But they can’t confirm that. So they’re not gonna give you the mortgage.
I lost that deal.
It was a property I really wanted. There was some shame and embarrassment. I had gone through the whole process, working with a new realtor, in Hamilton, and it was my first property there.
The deal fell apart.
I said to myself … I am never, ever going to allow myself to be put in that position again.
That day, I took away control from the banks. Said, I’m gonna apply those CDs.
So I went and studied all of Russell’s material. At the time, Russell did not know who I was. How could he? I was just starting out.
But as I got progressively better at real estate investing, people started to notice what I was doing.
And then somehow, in a crazy twist of fate, I found myself onstage at an event with Russell, teaching people how to do this.
That was the start of a meteoric rise in the property investing world … By 2014, Rich had a big enough portfolio to quit his TV job and turn full-time investor.
It was also the start of an awesome friendship.
Rich Danby and I have become the greatest of friends. And he’s been a big part of Rai$ing Capital Academy, ever since it was launched in 2018.
You’ll find that, in Rai$ing Capital Academy. People come for the learning.
But they stay … for the community.
Russell Westcott is Someone Who Always Wants To Add Value To Others.
That’s who he is. He’s just wired that way. He over-delivers.
The content that you see, he puts out quality content. He really, really, really cares. And it’s ridiculously obvious to anyone who encounters him.
What he does with his students, what he does with what he posts, everything he does is about adding value. He does way more giving than he does asking.
Aw wow. Lump-in-throat time …
Just so’s you know … Rai$ing Capital Academy is a private community where you can:
- Learn everything Rich learned (and more) …
- Learn how to raise investment capital without ever darkening the door of a bank
- Connect with like-minded people at varying stages of their journey … who can help you achieve your real estate investing goals … (and whom YOU can help)
- Get tips and insights that are unique to the Canadian landscape (although we have members from the US and multiple other countries)
- There is no other community like it.
If you would like to check out the Rai$ing Capital Academy and apply...
Talk on the inside …
#Inspire # Encourage #Love
Are you interested in becoming an Elite Real Estate Investor and level up?
Check out the Rai$ing Capital Academy today