John, I was very COMFORTABLE being a teacher, married to a teacher. I owned my own home and life was good. However, my pension was not assured. It had a huge unfounded liability here in NL at the time. I was worried that my CHEESE would run out and so I had better find an alternate...

I had looked at Real Estate investing for several years but was unsure. I had just read a book called "Who moved my cheese". Believe it or not, that book convinced me to take the plunge. The numbers worked. FEAR was holding me back. Fraser Drover droverproperties.ca

Congratulations Nik, Both my wife and I are full time teachers here in Labrador City but we use real estate investing as our hedge to the future. Like yourself, we continue to use appreciation in properties to provide the initial downpayment for properties, thus no pressure with finding...

Neil, Great article. I'm sure that there are investors out there who get caught up in the hype, not REIN members of course, and purchase their first investment property without considering all the costs associated with buying and then owning a property. Red ink leads to sleepless nights...

There is a book about mice and mini humans called "Who moved my cheese". It is a great read. I actually started buying real estate after reading it, 31 doors and counting. Fraser Drover droverproperties.ca 709-282-8149

Hamilton River, This sort of experience has the potential to turn folks off from "the true path to wealth and happiness". Sounds a little biblical don't you think? Potential challenges with tenants and property managers are many and varied. Planning ahead by having a honest discussion about...

My pleasure! I am finishing his book "The compound effect, and find it quite an interesting read. I also ordered his book "Living your best year ever". All the best, Fraser Drover droverproperties.ca (709)282-8149

Good morning from Labrador West, If you enjoyed the first video I posted of Darren Hardy, Editor of Success Magazine and author of The Compound Effect, you might enjoy the latest video on how to live your best year ever. You can view it here...

Neil, I really enjoyed this post in particular. I agree wholeheartedly that cash flow is the lifeboat. I sail every summer in Conception Bay, NL on my 27 ft tradewinds. I usually take my father in law, let's call him Crusty, for first mate or on occasion, ballast. Most days the winds are...

John, Thanks for the information. Fraser Drover droverproperties.ca

Thomas, Thanks for the info! Fraser Drover droverproperties.ca

Afternoon folks, My wife and I purchased a 15 unit in Lab. City several years ago and renovated it. Rents are between $700 and $1000 per unit. I am toying with the idea of a condo conversion but don't know where to start. Any ideas? Fraser Drover droverproperties.ca

Invst4profit, Yes, your points are well taken. A year after we bought the 11 unit which we were renting to contracting companies, fully furnished, on a month to month basis, there was a strike at one of the local mining companies. We went from full to 7 empty overnight. Now if that doesn't...

Thomas, Well said. I have been looking at purchasing a condo or two in the St. John's, NL area where I plan to retire in 8-10 years or so but can't seem to find one that will positively cash flow with 15 - 20 % down. When you add the monthly condo fee onto the mortgage and insurance...

Neil, I think that living in a small town definitely has its advantageous but what has cushioned us to a certain degree is the increased labour shortages and increases in wages because of the new iron ore mine that opened and that there has been increased employment at the other mines due to...

Neil, Happy New Year to you and your family. I often wonder where we would be without the strong team that we put in place almost accidentally. I had read several real estate investment books before but since joining REIN I am amazed at the wealth of resources that are available to anyone...

John, My wife and I have been investing in Labrador City, NL ( pop. 10K) for the last 8 years or so. We currently own an 11 unit and a 15 unit along with a mobile home and a townhouse, plus our personal residence. Because this area is subject to the ups and downs of the mining industry...

Morning folks, Just my two cents worth. I have made every mistake in the book when it comes to collecting rent from deadbeat tenants. One time I let a tenant in and agreed to pick up the rent and the damage deposit the next day. Guess what, I didn't get it. It took me two months to move...

Morning folks from the Great White North, I am attaching the link to Darren Hardy's latest video, this one on goal setting. His message resonates with me and seems to dovetail nicely with the information and message provided by REIN. I am very proud to be a member of this organization. Merry...

Jordan, I have been using Quattro Pro for several years with different expenses in the columns. Works well for me and my accountant. Fraser Drover QUOTE (JordanJ @ Dec 9 2010, 01:54 AM) Hey everyone, My name is Jordan and I am just getting my real estate portfolio started. I wanted to get...