Buying Then Exiting $11M of Real Estate, Pursuing Passion In Buying A Business with Wade Graham

<p><span style="font-weight: 400;">Buying high in demand assets with growing demand makes a lot of sense in hindsight. The business case for Canada to grow the economy via immigration makes a lot of sense financially to attract investment and talent.</span></p> <p><span style="font-weight: 400;">Unfortunately, many investors heard the same advice I did and instead of investing in Toronto, they invested in Edmonton and Calgary Alberta.  Again, hindsight being 20/20, that was not a good decision.  I know many of these people personally.</span></p> <p><span style="font-weight: 400;">Then last week, Wade Graham, a long time Facebook friend of mine commented on one of my posts about real estate how he’s glad to have exited all his Alberta real estate, $11 million dollars worth.  Wade was part of the same network and community I was for just as long and I wanted someone who’s not all rah rah real estate to come on this podcast.  Wade fits exactly that bill :P</span></p> <p><span style="font-weight: 400;">What Wade as a guest does offer is what went wrong in his real estate journey so you may all get it right.  But real estate is not all bad to Wade as the network and skills he built translated into acquiring a failed business, making it successful, in an industry that he loves.  </span></p> <p><span style="font-weight: 400;">In these trying times, there will be many businesses that fail which is terribly sad.  However, there will be some entrepreneurs who can buy these businesses and their equipment for cents on the dollar.  In the restaurant industry, that’s commonly known.  The restauranteur who is the first into a space and invests hundreds of thousands for commercial stoves, ovens, fryers, fridges, freezers, furnishings etc.. they pay retail prices plus delivery and installation.  Sadly, often the debt servicing and rent is too much, the restaurant folds, another businessperson then buys the assets for cheap and has a much better chance at survival and might even prosper. Wade has a similar experience to share whic