Hello and welcome to another episode of the Investor Mel – Women of Action show! In this episode, I'm speaking with Patricia and her mom Adela.
They immigrated from Venezuela in 1998, but when they realized that Adela wouldn’t have enough money to retire, they joined the Investor Mel & Dave – Action Family mentoring program and bought 14 units in less than a year using none of their own money! The best part… Patricia was able to retire her mom.
Their advice to you? 👉 “Invest in a good mentorship program, like Mel and Dave’s. Because it had absolutely everything that we needed to get started in very comfortable ways. For those that have analysis paralysis and are afraid, it really helps to have the knowledge that you get from a good mentorship program. And also, it really helps to find support from them... In an Action Family like the one in Mel & Dave’s program... you can’t put a price on that.”
Patricia and Adela moved to Canada from Venezuela in 1998. As a mother-daughter team, they learned to navigate a new country (and language!) together and experienced the highs and lows of being a new immigrant. For over 10 years, they rented apartments in the Toronto and Etobicoke area and became familiar with the complexities of renting and saving to buy a house. In 2009, their dream came true when they were finally able to buy a three-bedroom condo in the highly lucrative Etobicoke area.
From then on, they spent the next 10 years making extra payments to try and pay off their mortgage sooner. In 2020, Adela had to have a serious talk with Patricia. Although Adela had worked in the ink industry for over 30 years and was the Quality Control Manager for one of the largest ink companies in the world, she did not think she was going to be able to retire!
Her pension and RRSP savings were not going to be able to sustain her and the mortgage and so Adela was looking at a minimum of 5 more years of work. By then, Patricia had gone from being a high school student when they first bought their condo to an HR Advisor with the Ontario Public Service and she was in a much better position to make some drastic financial moves. She decided that she needed to do something to help her mother retire - on time! That is how Silverpath Properties was born.
As investors, Patricia and Adela focus on buying multi-family properties. Under the training of Mel and Dave Dupuis, with their Action Family mentoring program. They now own 14 doors in Ontario and New Brunswick. The biggest shift they had to take was understanding that debt isn’t always a bad thing. In fact, educating yourself on the market and making the right investments would yield more financial freedom than paying off their mortgage completely. To ensure their success, they surround themselves with a team of professionals to help them with each investment, including a realtor, mortgage broker, accountant and lawyer.
To contact Patricia and Adela visit their website at www.investwithpatricia.com or follow them on Instagram @patriciatheinvestor.
If you enjoy my content here, you’ll love the unique tips I share on my Instagram page so make sure to give me a follow. Username: Investor Mel & Dave (@investormeldave.)
And if you’re interested in fast-forwarding your real estate growth just like Patti and Adela did, join my Action Family Mentoring Program and learn all the secrets of real estate investing. This includes how to buy properties with other people's money, how to buy properties with no joint venture partners and other tricks to turn you into a real estate mogul. Learn more about my mentoring program by booking a call with one of our Wealth Advisors.
I hope you enjoyed this episode of the Investor Mel - Women of Action show! Do you want to be a woman of action? Take the first step by joining our mentorship program! www.iamreadytoinvest.com to book a call.