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New Guy on Campus

kristianinsauga

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Hello Everyone - Just wanted to introduce myself. My name is Kristian Ward and im from Mississauga ON foudn this group from wanting to make a vailant effort to get into this game and early. Im only 27 and me and my fiance have owned our first home for a year now. Im looking to take my education on Real Estate Investing to the next level and i hope to ease my way into it with the help of making some new friends at myreinspace.

I look forward to talking with you all at one point or another.

thank you

Kristian Ward
 

BMironov

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Hi Kristian,

Welcome aboard! You are in right place already. If you are not REIN member yet, please consider such an option. You will be surprised how much information you can get in just few hours of monthly workshops. This WILL change your life.

Direct your web browser to:
http://www.realestateinvestingincanada.com/viewcategory/35

P.S. Membership is not free, but it is tax deductible
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Best regards,
Boris
 

Grant

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Welcome to the forums, Kristian! Good for you to get in the game early! It sounds like you`ll find what you`re looking for in REIN.

I think you`ll find this site to be a great resource, and there are tons of people here ready to share their insights and advice.

P.S. Boris, I changed the link you gave to a more recent outline of REIN benefits.
 

kristianinsauga

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Hey guys,

thanks for the welcome - i am considering the membership but as i said im new to this game so im going to move slow - hope this is ok.

I am only 27 and i still have much to learn...I did already post my first question....

Thanks again guys

kristian
 

DonCampbell

Investor, Analyst, Author, Philanthropist
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Hi and welcome,

Starting at the age you are, you have a definite advantage (but also a potential disadvantage.

#1 Advantage: Time is on your side. I know of many investors who started at your age, followed the steps and became financially secure in just 5 years. Not a bad place to be in early 30`s!

#2 Disadvantage: Time can be your enemy. Too often, if we have a long time to get something done, procrastination and excuses are allowed to enter the equation. A BIG mistake that others at your age have made. Creating a deadline is a key time management skill that you can use to get over this. Don`t let yourself be caught by the "I`m young and have got lots of time so I`m going to wait until I know EVERYTHING before I act" trap.

First step for you is to define your Personal Belize or ultimate goal. Grab a copy of "Real Estate Investing in Canada" at Chapters or www.amazon.ca/realestate and walk through the whole process, including defining your own Personal Belize.

2nd step, start hanging out with positive like-minded people who are focused on the path you have chosen, learn from them.

3rd step, "Shoot The Puck" get out there, follow the system in the book (over $2 billion can`t be wrong) and get your first investment property in your portfolio.

Trust that helps get you moving in the direction you want to go.
 

kristianinsauga

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Hey Don,

thanks for the tips - no your right i dont plan on doing the procrastination portion...

im activly seeking to partner up with a real estate agent - i think this would be a great way to get started...

Has anyone done this before?

I have a great company that im sure if the investment makes sense to make they will back me on some small investments in condos around the 80-120k range...

any insights on this?

kw
 

pvilay

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Hey Kristian and welcome to the forums.

A real estate agent can be a good tool to leverage your time, but you need to let them know what kind of homes or neighborhoods you want to target. Like Don Mentioned, pick up the Real Estate Investing In Canada at Chapters or www.amazon.ca/realestate . Its the first book i recommend before taking a dive as it will save a lot of headaches.
 

DonCampbell

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Hi,

Continuing on the discussion of age, you might want to slip into the Success Stories section of this page as there are a couple of new postings there from people your age and what they have begun to create (and how they are planning on getting together in October).

Might help to start a discussion with them.
 

InvestBC

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Hey Kristian my girl friend and I are in the same boat. We are both only 26 and already have 3 very nice properties under our belts! I definetly recommend reading both "Real Estate Investing in Canada" and "97 Tips For Canadian Real Estate Investors". Those two books will help kick start your property investing
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. The biggest challenge we find is that when people see how young we are they dont take us to seriously! Using the material provided in "Real Estate Investing in Canada" it allows you to focus in on the properties that will give you the best bang for the buck and it also shows you know what your talking about
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.

Cheers!
 

NassirNathoo

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Sep 21, 2007
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Hi all,
Just wanted to say hello to all. I am new in the forum. I have read Don`s book and excellent work. Really helps. Like Don says, follow a Proven system.
I also get the newsletter and specially purchased 10 top areas in Ontario.
Good reports. After I receive the top 10 reports in August, i drove to Kitchener to see what is happening.
I can see builders and highway extension and widening.
Since then i have crunching the numbers using the analyzer form. Unfortunatly, i found the 10% formula work but not the detail expense part. It shows me to be -100 or -200$ per Month.
As you can see, just starting to read the book, i picked quick easy tips from Don`s book. Thank you Don. Yes i have seen those late TV commercial and i have friends that bougth those DVD and shows for over 2000.
I now show them your book, easy and simple!.

Anybody else can provide advise on those K-W properties, the area is growing but current property is providing negative flow, should i skip and search for another one.

Thank you all again for listening.
Nassir
 

marcp

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If I had known what I know now when I was 27, well, I`ld have reached my Personal Belize many times over...

But the MOST important thing, in my opinion, is to set some really, really clear goals for yourself. And keep updating them and changing them as life goes on.

Les Hewitt said it at the last workshop. Jack Canfield says it in his new book The Success Principles. Brian Tracy says it, Anthony Robbins says it, all motivational speakers begin their books or talks with the same subject: Set clear goals for yourself, get clear on your beliefs,and take full responsability for your life.

And Don says it too, with the "Personal Belize" concept.

So age has nothing to do with it - but your goals have everything to do with it.

My kids have already been influenced by my attitude as well. The other night at supper time, my 13 year old declared that he planned on becoming a millionaire when he grows up.

I said "That`s a great attitude son! Do you have a plan for accomplishing this?"

He said "Yep!"

I said "What is it?"

He looked at me, dead serious, and said: "Inheritance!"

Oh well... at least he doesn`t plan on working himself into the ground to get there! That`s my boy.

Cheers!
Marc
 

timk519

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QUOTE (marcp @ Sep 22 2007, 12:07 AM) He looked at me, dead serious, and said: "Inheritance!" LOL! Did you tell him that only works if someone leaves it to him?
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DonCampbell

Investor, Analyst, Author, Philanthropist
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Hi Marc,

Thanks for the great chuckle!
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And thanks for shining a light on the importance of changing those around you, even if it isn`t part of your overall plan. If you help enough others achieve what they want, achieving your `Personal Belize` is almot guaranteed.

Keep up the great work, see you at the top.



QUOTE (marcp @ Sep 21 2007, 08:07 PM) If I had known what I know now when I was 27, well, I`ld have reached my Personal Belize many times over...

But the MOST important thing, in my opinion, is to set some really, really clear goals for yourself. And keep updating them and changing them as life goes on.

Les Hewitt said it at the last workshop. Jack Canfield says it in his new book The Success Principles. Brian Tracy says it, Anthony Robbins says it, all motivational speakers begin their books or talks with the same subject: Set clear goals for yourself, get clear on your beliefs,and take full responsability for your life.

And Don says it too, with the "Personal Belize" concept.

So age has nothing to do with it - but your goals have everything to do with it.

My kids have already been influenced by my attitude as well. The other night at supper time, my 13 year old declared that he planned on becoming a millionaire when he grows up.

I said "That`s a great attitude son! Do you have a plan for accomplishing this?"

He said "Yep!"

I said "What is it?"

He looked at me, dead serious, and said: "Inheritance!"

Oh well... at least he doesn`t plan on working himself into the ground to get there! That`s my boy.

Cheers!
Marc
 

BMironov

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Hello,

My 4-year old son is also very busy on attracting enormous wealth. In our case he set goal to find pirate treasure chest. The target area is our backyard.
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So far he was not introduced to advanced technologies (eg, metal detectors, ...)
 

alexchee

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Sep 23, 2007
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Dear all,

I would like to thank don and his team for the info on his books and website. It has really helped a new immigrant like me to reached my "Personal Belize". The following is my story:


When i landed last May 2006, I buy a house immediately for $325K with a downpayment of 10% for a bi-level (1200sqft) when i sell it in Dec 06 for $450K. I took the profit, rolled into another house (2200 sqft) for $527K and developed the basement myself bringing the total space to 3200 sq ft (online valuation by the bank comes up to $650K). When the market goes on the upswing, i intend to sell it and downgrade into a 1800 - 1900 sq ft and have a very small mortgage if not none at all. That way i can start collecting info and and select the investment house that is most suitable for me

As a new immigrant I face a different challenge than a Canadian. With the big influx of immigrant coming this great country, i wish there was i section dedicated to it. i would be most willing to help give back to what i have achieved through this forum. Cheers
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Anonymous

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QUOTE (mambo @ Sep 21 2007, 11:56 PM) Unfortunatly, i found the 10% formula work but not the detail expense part. It shows me to be -100 or -200$ per Month.

...

Anybody else can provide advise on those K-W properties, the area is growing but current property is providing negative flow, should i skip and search for another one.

As part of your personal Belize, what are your goals? if they are capital appreciation, is there something you can do to the property to increase the rent such as renovations? that way you get break even or positive 50 / month?

For example, condo rent in the Hamilton market is typically between 950 - 1000... at that rate, they would break even or be negative 50 / month. We spend between 6 - 8K in renos and get 1150 - 1300 in rent therefor, making the property cash flow positive.

In addition, can you increase the rent by renting a detached garage or extra space on the drive for other cars?

Hope that helps.
 
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