Unfair criticism of people who made their millions by owning property during Vancouver’s real estate boom prompted Vancouver sales rep Owen Bigland to write book to defend them.
“Having earned their fortunes with seemingly no work, these millionaires have provoked outrage. From scathing editorials to calls for legislation, much of the public seems angered by the apparent unfairness of the situation,” says a news release promoting Bigland’s new book, Along for the Ride.
Bigland says these property millionaires should not to be condemned nor viewed as “lazy”. They should be seen as proof of the rewards for long-term investing, says.
“Where was the outrage when the markets were uncertain and these individuals chose not to sell their properties? Where too, is the outrage over early investors in Pepsi and other now-lucrative stocks? People who made fortunes off those stocks simply by holding them into the present? Such ‘visionary’ stock investors are no different than Vancouver’s ‘lazy’ real estate millionaires,” says the release.
The book may not be popular among those with “get rich quick” schemes, says the release. It offers honest, actionable advice on becoming financially independent, it says.
It promises “a simple, straightforward blueprint based on real estate and stock investing. On the real estate side, he advocates a strategy involving owning your principal residence and steadily acquiring rental properties. On the stock investing side, his approach focuses on dividend growth, and index investing via low-cost ETFs.”
The release adds: “A stream of passive income doesn’t just happen. At least not for the kind of snowballs or income streams large enough to matter. Instead, both require time and discipline to build. This is perhaps the central theme of Along for the Ride. The idea that achieving true financial independence, as Bigland has done, is a gradual journey, one that anyone can embark on regardless of their background and position in life.”
