Friday, March 12, 2010

Verna Jones-Cox - Habits of Successful Investors

Our fellow Nuwire Investor contributor Verna Jones-Cox has boiled down success in real estate to 9 Habits that are really spot on.

The other thing about them is that anybody can acquire these habits and become successful there is nothing magical or mystical about it. I strongly recommend reading the whole article as I'm sure they are habits that will bring success in all areas of life.

Successful Investors:
1. Have a plan and work it - like a road map to your final goal

2.Have a network and use it - a good team is very important and often found through meeting other investors

3. Cull their herd- consider it "mercy killing" the mercy is on your wallet leave emotion out of it and get rid of bad properties ( and they are there)

4. Protect their assets - it's basic and you will go through a lot of professionals before you find one who understands your needs.

5. Have a code of ethics - what goes around comes around and it does come around

6. Involve their family - not your uncle Bob who says "real estate is dangerous.." your significant other has to be signed on and tuned in. They are the backbone of your ability to succeed

7. Treat everyone better than they expect to be treated - see #5

8. Stay educated - easier now than before the internet and there are many associations that will be more than happy to tell you what you need to know

9. Become mentors - it almost happens naturally people will start asking you how to do what you did - just tell them! There is no limited wealth or success and everyone deserves to do well.

Wednesday, March 10, 2010

Don't miss your last chance!

This weekend is the REIN ACRE weekend. Don't miss this incredible workshop that will change your life and how you look at the real estate investment market in your area and in Canada.

Best selling author Don R. Campbell, mortgage wizard Peter Kinch and many other industry leaders will be there to help you see the opportunity that lies in the ups and downs of the current real estate market.

Peter Kinch says:
"Where will the market go from here? Is it too late to make money in real estate? What will happen with interest rates? How will the new rule changes affect me? Asking the question is the easy part - getting unbiased answers is the hard part. If you want to know how to get the straight goods without a hidden agenda, then the REIN ACRE weekend with Don R. Campbell is a must attend event. This is NOT a 'get rich quick - 'How to buy with Nothing Down 'free' seminar' - that will end up costing you thousands down the road. Don and his team will teach real estate fundamentals that will educate you on how to buy real estate in any market."

Sign up now for the ACRE Live March 13th and 14th

Tuesday, March 09, 2010

This and That - Edmonton's looking great!

Rosy outlook shines on Alberta's economy - "More signs emerged Monday that an economic rebound is starting to take hold in Alberta, as new home construction soared and the hiring outlook improved.

At the same time, rising oil prices continue to boost financial markets, adding more positive momentum to the provincial outlook, analysts said."

"It looks like we've hit the bottom and we're edging back up in Alberta," said Jacques Marcil, economist with Canada West Foundation, a Calgary-based think-tank.

Tripling of housing starts returns builders to pre-recession levels - "There is optimism that the market is showing stability for 2010,"

"Single-family homes are selling well and multi-inventory continues to decline."

"Certainly, our builders are as optimistic as they have ever been since probably early 2007. Let us hope that a jump in interest rates and further constraints in CMHC and other mortgage insurers in eligibility criteria does not dampen demand." Guy St. Germain, Edmonton-region president of the Canadian Homebuilders' Association

Hoteliers, developers support downtown project - "There would have to be a lot of additional economic activity generated to support the hotel," "But anything that can revitalize the downtown is great for the hotel industry in Edmonton. ... Things like a downtown arena are an asset, there's no question about that. Alberta Hotel and Lodging Association CEO and president Dave Kaiser

"If it's done right, it will dramatically change the city," "Everything around it, everything that touches it or is within two blocks of it, suddenly becomes a building site," Downtown Business Association executive director Jim Taylor

Monday, March 08, 2010

It's a big deal.

As you probably know moving is a pain. An inner city move isn't so bad, same state more trouble, across the country a headache but across the globe is huge. Especially when you're moving a business office. It's not just the logistics but the cost, timing and peace of mind of moving all your stuff that is harrowing.

So as one expat to another I have to recommend the completely bilingual Shipmates in Tokyo. They are absolutely the most cost effective, easy to use and have outstanding customer service. They can also hook you up with a cheap plane ticket to your destination.

Wednesday, March 03, 2010

Alberta's upcoming labour squeeze will affect rents.

It's hard to imagine a labour shortage with unemployment at 6.6% but apparently there is one looming around the corner.

Alberta braces for next labour squeeze - "A rebound in the oil patch is sparking fears of a labour shortage like the one that led to sky-high wages and mass importing of skilled tradespeople ...."

“We are about to start running into, believe it or not, another labour shortage,” “It is going to be significant again,” says Brian Vaasjo, president of Capital Power Inc.

As the need for labour increases so will the need for rental units as in-migration increases. A look at the current rental market in Edmonton would show a lot of selection at very competitive prices. This is going to slowly change.

We're seeing a lot of "bids" on rental units. If we post at $1595 the prospective tenant throws out a $1400 because sometimes landlords will take what they can get.

Simple economics of supply and demand will stop the "bids" and even allow for an increase in rents.

Monday, March 01, 2010

What do you meme?

Fourteen Golds and seventeen days later, the Olympics have come to a close. We watched many great performances and got a peek inside the lives of some of the world's greatest sports champions and their moment(s) of fame. I'm not a huge sports fan, but I find it exhilarating to see the athlete's expressions as they win or don't do as well as expected.

Their faces show a lot in those few raw seconds of evaluation. Some look crushed, regain composure, and then a look of determination spreads over them as you can almost see the wheels turn as they begin to build their next attempt at success.
I especially like watching the athletes that are really satisfied with their performance even if their score didn't place them in the top three. The coaches expressions are priceless as well; it must bring a feeling of great triumph to see the person you coached for so long and so hard finally win.

To segue into Danielle's recent blog post on memes, I wonder what the memes in us are that stop us from becoming an Olympic Gold Medalist or an investor as savvy as Warren Buffet? It is powerful to think that our memes are so flexible as to create a new blueprint as soon as we are exposed to them. Sadly, the wrong memes can create an equally powerful result.

I appreciate all your calls and emails. I'm looking forward to helping you with your next step towards building real wealth.

"I am building a fire, and everyday I train, I add more fuel. At just the right moment, I light the match." -Mia Hamm American football player, 2004 Olympics

Kind Regards,

Todd and Danielle Millar


This Canadian specific program took us from 2 rental properties to almost 50 doors in 6 years. I fully stand by the information provided, the people you meet and the inspiration you get. Take the first steps to your financial freedom! It's absolutely the greatest Canadian real estate investment program ever.

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