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As a real estate investor, I took the time to get educated in various aspects of real estate before proceeding with my first investment property purchase. However, at some point I knew that getting educated was only part of the process – at some point I would have to pull the trigger, so to speak and actually purchase the property to meet my investing goals.

Everybody has reasons for starting their real estate investing career – mine started because I thought it would be a great way to supplement my income. I never expected to evolve and learn what I have learned to date. I keep expanding my goals and hopefully this post will inspire to keep expanding yours as well. I am now involved in residential, commercial and private lending for other investors and with so many different ways to invest the overall goal is to not only grow my own passive income but to also enjoy the journey.

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Private Lending has become a hot topic of late! Due to a variety of reasons, borrowers may need private loans due to insufficient income to qualify for a mortgage, debt consolidation, damaged credit and even people looking to borrow money against their equity. However in many cases the existing lender may not be willing to lend against that equity and therefore people turn to private loans for a solution. But it’s not always that easy or clear on how they work so let’s unravel the private lending world.

In Part 1, I will speak about the borrower and private lender. In Part 2, I will speak about how you as an investor can loan your money in private lending as an alternative to owning property.

 

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I recently had an inquiry about purchasing an ocean-front property in Costa Rica? More and more Canadians are looking at investing in this beautiful country – I myself am very interested but holding off due to the dollar.

Living in Canada and especially in the eastern provinces, where it can get down to minus 40 or below, some of us tend to dream about living near the Ocean, in much warmer climates. I know I do! However, the question becomes is the reality a dream or a nightmare waiting to happen?

Being a real estate investor myself, I tend to be on the conservative side when it comes to my investment properties because the end result comes down to cash flow and protecting my investment.

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When I started out as a real estate investor, I thought that if I had the money and found “a” property, it would be easy to make money. I soon came to realize that there was so much more to be aware of – like finding the right property and knowing the right time to buy the right property. I thought that if I “timed” the market right that I would find a tenant quickly and life would be easy. Was I completely wrong? Well yes and no – let me explain!

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Last week, I was contacted by a new client who lives and works in Richmond Hill. His renewal is up in November but he wanted to put some plans into place because he had just come into some money ($125,000 from an inheritance).

The balance on his mortgage is approximately $100,000 and he has approximately $500,000 of equity in his property.

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analyse

I recently worked with a first-time investor. He was referred to me by another investor client I have. He had no idea of how to start investing, what type of investment he wanted to do or in which area he wanted to start investing in. He had done the meet-up groups, signed up for various courses given by other investors, read many books and even spoke to other mortgage and real estate professionals, but he was still stuck on how to proceed. He was what we call in “analysis paralysis”. Continue reading

Creating the Life

The other day I was driving to do some errands with my 8 year old daughter and she commented on some really nice cars ­ I first thought “wow she has good taste” and then she said “mom, when I am old enough to drive you are going to buy me that right?” and I thought, where do kids get their needs and wants from? And are we shaping their needs and wants?  I explained that when she was old enough she was going to get a J.O.B. and earn what she wanted to have and not be given what she wanted.  She did not like that one bit, which inspired me to write this post.

What if anything are we teaching our children about wealth creation, about needs vs. wants and how to attain those needs rather than wants? Continue reading

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As an Ontario focused Real-Estate investor, I attend a lot of networking groups to meet like-minded investors, make new connections and of course learn something new that will help me improve or increase my portfolio.

As a mortgage agent, I have been researching how to help myself and others get access to 2nd mortgages but most people don’t know that you can use any of your registered accounts (RRSP, RESP, RIF, TFSA, etc) to invest in an arm’s length mortgage. Continue reading

Rule of 72

The ‘Rule of 72′ is a simplified way to calculate how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to double.

Let’s look at some examples of how long it would take to double our money in each of the following instances: Continue reading