Not All Debt is bad. buy Real Estate with smart leverage to grow wealth
Paul’s parents immigrated the family from Mexico City to Vancouver with the best of intentions but a flawed financial strategy. By not being afraid of debt and taking a moment to have someone run the numbers for them, they would have been $2M-$5M wealthier today. How? It was passed down to Paul’s parents that “debt is bad” and you should limit your mortgage obligations to be as little as possible with a big down payment or buying in cash.
They took the advice and bought a townhouse in cash instead of putting a down payment on multiple detached property. While real estate isn’t quite what it was in the 80’s and 90’s, very similar principles still apply around being smart with debt and not delaying your search as prices continue to rise.
Paul has been nominated mortgage broker of the year across Canada and collectively fund $5B a year in mortgages at the top bank and non-bank lenders across the country. He has worked with hundreds of business owners and has been featured in over 40 national media publications including their debut on CBC’s Dragons’ Den in 2014.
OUR TEAM
Ivan Reyes
Department: Sales
Birthplace: Mexico City
Current home(s): North part of Mexico City
What gives me flow: Sports, nature, taking long trips while vibing to music, family trips and family cookouts