- Joined
- Sep 4, 2007
- Messages
- 52
This past rainy weekend, I started converting my written Belize into a power point presentation. This exercise made me reflect at how fast and how much things have changed for my husband and myself over the last 2 years – with significant events triggering in May of each year.
We have much to be grateful for.
We could not get to this point without support and knowledge from our fabulous mortgage broker (Ken Wilson - Calgary Flames Jersey guy) who has mentored us through – from meeting us in the coffee shop, helping my husband get through the "analysis hmm" stage, answering my questions, and introducing us to Integrity wealth where we could utilized dormant LIRA`s and RRSP`s. Yes, the Law of attraction does work, as I met him through a home show when I wasn`t at that instant looking for a broker (but I had in the back of mind that I would like an "investor" broker!)
A HUGE ENORMOUS thanks goes out to Don Campbell and the REIN team. Don, your book shifted my paradigm in May 2007. I finally feel that I`m moving forward…and I`m not
looking back! The REIN team has travelled a lot of kilometres with me since my joining in June 2007. Over the last year I`ve listened through a Quick Start, JV secrets, Multi-family gold mine and various nights of meetings when I couldn`t attend. When they are done, they are queued to the back of the pile and I start listening to them over again. They have been a treasure trove of information. Thanks also for all the forms in the member space. They have saved hours of time in the learning curve.
Thank you to all the members for sharing their knowledge on MyREINSPACE and around the table before meetings. The supportive atmosphere allows for learning and does help to overcome some of the "fear factor". Also, thank you to REMA who has sped up analysis a hundred times fold. REMA`s reports are amazing and these reports helped emensely to gain my husband`s buy in on this journey.
For those with patience to read through, below is a brief overview of our past 2 years!
2006
2007
Jan to March – read all of Robert Kiyosaki`s books that I could get my hands on. Started questioning my present paradigm.May– Came to the conclusion that Real Estate was for me so, I bought Don`s first book and had a drastic 360 degrees paradigm shift and signed up for Quick Start in JuneJune - Attended Quick start and learned how many mistakes I made with the "family consortium" property. Joined REINJuly to October : Started putting "ducks in a row" (i.e. investment binder, looking at test properties, exit strategy to "family consortium", etc)October – trip to Winnipeg to look at properties Felt that I was being "played" by the two real estate agents. Decided to gain experience in the "home court". NOTE: (Winnipeg is cash flow properties – not equity gain properties (in my opinion). I have family there and aging parents…thought it would be nice to go back more often – and be able to write off part of the expense!)[*]Met Ken Wilson (REIN member and mortgage broker) who I will be eternally grateful for all the advice and mentorship as well as brokering me some amazing rates![*]Dec - Sold "family consortium" for list price (other properties were going for 15k less). Major learning curves came out of this property. Still came out 20k ahead (our
share)(big SIGH of relief)![*]Dec – made an offer on my 1st property which was rejected. Seller would not move from list. Chalked this up to a learning experience
2008
Take care
Susan
We have much to be grateful for.
We could not get to this point without support and knowledge from our fabulous mortgage broker (Ken Wilson - Calgary Flames Jersey guy) who has mentored us through – from meeting us in the coffee shop, helping my husband get through the "analysis hmm" stage, answering my questions, and introducing us to Integrity wealth where we could utilized dormant LIRA`s and RRSP`s. Yes, the Law of attraction does work, as I met him through a home show when I wasn`t at that instant looking for a broker (but I had in the back of mind that I would like an "investor" broker!)
A HUGE ENORMOUS thanks goes out to Don Campbell and the REIN team. Don, your book shifted my paradigm in May 2007. I finally feel that I`m moving forward…and I`m not
looking back! The REIN team has travelled a lot of kilometres with me since my joining in June 2007. Over the last year I`ve listened through a Quick Start, JV secrets, Multi-family gold mine and various nights of meetings when I couldn`t attend. When they are done, they are queued to the back of the pile and I start listening to them over again. They have been a treasure trove of information. Thanks also for all the forms in the member space. They have saved hours of time in the learning curve.
Thank you to all the members for sharing their knowledge on MyREINSPACE and around the table before meetings. The supportive atmosphere allows for learning and does help to overcome some of the "fear factor". Also, thank you to REMA who has sped up analysis a hundred times fold. REMA`s reports are amazing and these reports helped emensely to gain my husband`s buy in on this journey.
For those with patience to read through, below is a brief overview of our past 2 years!
2006
- April - Sold my house of almost 5 years to the "Penner family consortium". Retained 1/3 ownership. Made
150K. - May - Resigned from a company that I had been with for just over 9 years. Decided to take the summer off
- June - Moved into the house that my fiancée and I designed and custom built. Landscaping and getting the place ready for the August big weekend was my focus
- August – got married; it was a weekend affair with BBQ on Fri, Wedding on Sat and a stampede style breakfast on Sun
- July to October – looked into businesses to sink my $$ int
ctober – disgruntled to find that any entrepreneur enterprise I researched would only make $ and working just as many hours (or more) than the last place of employment, I became an employee again to make $$$.
2007
Jan to March – read all of Robert Kiyosaki`s books that I could get my hands on. Started questioning my present paradigm.May– Came to the conclusion that Real Estate was for me so, I bought Don`s first book and had a drastic 360 degrees paradigm shift and signed up for Quick Start in JuneJune - Attended Quick start and learned how many mistakes I made with the "family consortium" property. Joined REINJuly to October : Started putting "ducks in a row" (i.e. investment binder, looking at test properties, exit strategy to "family consortium", etc)October – trip to Winnipeg to look at properties Felt that I was being "played" by the two real estate agents. Decided to gain experience in the "home court". NOTE: (Winnipeg is cash flow properties – not equity gain properties (in my opinion). I have family there and aging parents…thought it would be nice to go back more often – and be able to write off part of the expense!)[*]Met Ken Wilson (REIN member and mortgage broker) who I will be eternally grateful for all the advice and mentorship as well as brokering me some amazing rates![*]Dec - Sold "family consortium" for list price (other properties were going for 15k less). Major learning curves came out of this property. Still came out 20k ahead (our
share)(big SIGH of relief)![*]Dec – made an offer on my 1st property which was rejected. Seller would not move from list. Chalked this up to a learning experience
2008
- Closed first property Feb 15. Had tenant in by March 1
- Closed second property March 31. Purchase price was 30k under original list. Had tenant committed to a April 19 possession and 1 year lease.
- Both properties cash flow around $225/monthApril - set up Matrix with principal property as collateral. Set up a # company corporationApril- skied Whistler for a week to celebrate properties 1& 2Chess pieces in line for 5 properties this yearProperties 2, 3, 4, and 5 are/will be all OPM with us leveraging against our principal property and our jobs. #1 property would have probably been all OPM as well, but I
didn`t read the Smith Manoeuvre until Feb.May – made an offer for 3rd property which was accepted. Purchase price was 15k under appraisal. Close date is July 18
Take care
Susan
