1. Timing, 2. Endurance ~ I believe they need at least one or both of these to succeed.
Q1 2017 is over and there is optimism in the air as we roll into spring. For those of you that hung on and managed to stay the course or adjust accordingly through the last 18-24 months I salute you. As the uncertainty grew and the economy in Alberta went a little sideways we were all tested to see if we would grow or crumble. Long term buy and hold is not a get rich quick scheme but it does provide several certainties that those who hang on will be able to enjoy. So for those who did you shall be rewarded and for those looking to get into the market now is your chance to get in at the bottom of another cycle. I encourage you to keep learning and ask the questions required to make the next step. 1, 2 , 3 properties and your future self will be thanking you as you set the stage for a fruitful retirement.
This month I started out with some real estate education in Vancouver. This then led to a new course with a friend and some new contacts. As I am reaching for more self improvement, I find this brings on more adversity to test the strength of my desire and willingness to change. With a young family at home it makes adding anything extra, extremely difficult. There is nothing more rewarding or more challenging than having children while pursuing your goals. They have proven to be my biggest teachers lately and I have learnt so much about myself in the last 3 mths that could not have occurred without the test of endurance that was provided to me. Life is a journey and mystery that can be drifted through or enjoyed beyond our wildest dreams!
As we roll into the spring season I am looking for ways to raise my standards. I want to help give more to the people who sell to me, lend to me, buy from me and work with me. The timing is perfect right now and my endurance is high so if you need a little kick in the butt drop me line and I’ll do my best:). Just keep going until you get a little further, never give up just keep learning. It’s not supposed to be easy otherwise we wouldn’t grow. So get going, make the most of this spring and take a bigger step than last year!
All the best, Aaron
April was a month of new beginnings at Fresh Coast. As Spring unfolds, we find ourselves doing a lot of cleaning and re-setting the stage from our winter crews to summer crews. It’s nice to get into each unit and have a good clean and inspection before we continue into 2017. While the winter crews leave and the summer ones come back, so does the spring buying season. Its time to paint, prep, cut and mow….While these deals are getting underway we get excited at Fresh Coast Investment. Whether it’s new construction or used inventory, we look forward to getting the deals out there creating more fully furnished hotel alternative options for our guests and investing partners to enjoy.
As we run into May with momentum and a fresh start, I encourage you to review your goals and whether your financial plan is getting you there. Have a good look and do the math, maybe things are great and you can enjoy summer. Or maybe some adjustments are to be made before the kids are out of school and summer takes full force. We can refocus and maintain the course of action and plant new seeds for growth to enjoy.
One of the things I love about real estate is the resilience it has that other investments do not. Even in a down market, which we are coming out of, you can see it out perform. This is not a narrow view, but an overall perspective that brings in all the profit centers. If you need some help reviewing these profit centers and ensuring they are giving you the most benefit, give me a call.
We have decided to plant a big garden this year and acquired 6 hens to offset our grocery bill as the boys continue to grow. The savings will certainly be going back in to the business of real estate out in Alberta so we can make the most of this current market and ensure future growth for everyone like you. Thanks again and don’t forget to reach out with questions on how to enjoy hassle free real estate investing.
All the best, Aaron
I am sitting here working on my business at a coffee shop in Courtenay. This day consisted of the gym at 6 am and then taking my boys to school and having a morning coffee with my youngest (he didn’t have coffee) while my spouse meditated and got herself ready for the day. I dropped off the young lad and the phones begin ringing and I head out to work for the day. The sun was shining down on the mountains with a light dusting of snow on the trees it looked amazing and a nice break from the rain.
This is a typical day and although I have lots of ongoing work and people to manage its peaceful and I am living the life of my dreams. As we were moving most don’t know but we were closing on a deal that had a lot of people involved and came at an already busy transition in my life. I am thankful for all the support and help I got from friends, family and those involved. As I sit here now enjoying some focused time before a scheduled management team meeting gratitude fills my body or maybe its hunger, lol. No, I am blessed and appreciate the help and confidence people have in me especially my family and those working along side me.
A lot of late nights and weekends have gone into education and development both personally and professionally to be able to handle this achievement and I keep myself sharp with ongoing courses, seminars, networking and communication. This month we have been working with a new program and easing it into our system and next month we are taking more training from a mentor to improve our business knowledge even further.
I find business gets mixed between family, personal/spiritual and emotional growth. We can’t focus intensely on all of them at once but they need to be looked at in my life regularly to keep growing. I’ll wrap this up by saying my family and I are working hard to be a positive force on this planet and wish you well as we wrap up 2016.
As many people find success with their businesses, many others search for good real estate investments for their profits. Of course, we should all start with traditional tax preferred assets like RRSPs and other investment funds. These are the solid ground for good benefit planning for ourselves and our employees. However, I’m also convinced more entrepreneurs should consider some rental real estate as an important part of their portfolio. I know some business owners might tum away from this concept, but let me list a few reasons that may change your mind about this type of investment. Primarily, the main reasons are for future investments, additional incomes and numerous tax benefits.
Real Estate is one of those investment mediums where using the bank’s money couldn’t be easier. If you have the ability to make a down payment then you can leverage your capital and increase your overall return on investment. Buying rental property is based on speculation that it’s value could be a dangerous maneuver since cash flow is paramount. However, the appreciation of a real estate investment over the long-haul is certainly realistic. At the least you should be considering a tax-deferred benefit. In the future, you may even consider a charitable trust or an installment sale to lesson your tax liability further. Rental real estate can be a retirement plan. Most people are poor savers and lack the discipline to put a monthly deposit into saving accounts or RRSPs. Buying a rental property is a good sized investment that requires commitment to maintain it. In the long-run, you will be grateful if you don’t give up too soon and you will build future cash flow as well as your wealth. Depending on your classification, whether a active investor or Real Estate agent and your income level, there is a good chance your rental property and your overage of tax deductions can be used against your other incomes. However, always check with your accountant before investing so your expectations aren’t disappointing. Rental property provides investors with another opportunity to convert some personal expenses against valid business deductions. Rental real estate is a real business. This means that even travel expenses to check on your properties and payments to others who manage your properties can be deductible and increase the tax benefits. Because of depreciation and mortgage interest deductions, your cash flow should now be tax-free. In fact, a majority of the time, investors will never pay taxes on their cash flow and capital gains, only on the sale of the property.
I meet with many successful entrepreneurs and most have taken profits from their businesses and invested in rental properties. I have urged my clients to buy at least one rental property per year. I have seen clients with rental properties earning income they never imagined possible. Most of us will never get rich overnight unless they receive an inheritance. Generally it takes more of a long-term investment strategy with a diverse portfolio to truly build wealth.
What are you thoughts?
I thought it would be good to share my own personal story of success and how it lead into a successful business model in real estate investment.
When I was just a young man of a mere twenty five years old, I started out as an apprentice pipe-fitter. I began my family with my first of three sons enriching the lives of my wife and I. At that time I was given good advice and acquired two rental properties. At the same time, we ourselves were in the process of purchasing a family dwelling for our growing family so that we could continue to enjoy the moments of family life.
Then one day on the way to work, I had this thought. If I could just hold onto these three properties I will be able to retire early at the age of 50 years old and have a million dollars in equity as well have enough cash flow to bring in a wage $60,000 per year to live on with no mortgages by that time. At that point I realized at that moment that I’d stumbled upon a good thing. I was hooked on this process and my idea. I wanted to share the idea of investing in real estate as well as sharing the satisfaction it gave me with others by helping them invest for the long term and retire early.
I’d love to hear your comments about my story and share with you more information about real estate investing that will help you stay ahead of this game called life.
As for a lifestyle, so far this life has had more of a way with me than I have with it. There’s been a lot stuff that have happened so far and situations that just seem unbelievable. Up until now I have seen some interesting teen years, good parties in my 20’s, then marriage and switching to starting a family. Now I’m waking up again to a new era of relationships and business in my 30’s. What I have learned and believe to be true is that everything is everything and everything we create in our life comes from our heads first.
There are tools for this lifestyle creation, ways to secure your future and one of them is real estate. You may have heard of several people who have used it to get rich. Donald Trump is now running for president because his real estate got so big. My point is, with the right mindset you are set and by using real estate, it will help build the life you seek. This is my opinion and not to be used in place of legal or accounting advice, so take note at your discretion.
I have been down this path for over 10 years now and although the beginning is slow, time goes by and the pace picks up. The limits are endless and you can enjoy whatever lifestyle you like. Some techniques in real estate are buy & hold, flips, rent to own, lease options, agreement for sales, suited, multi family, renovate, college rentals, commercial and more. By being creative and by building systems to keep you organized you will have tangible assets to generate the outcome or experience you want to create in the short or long term.
Life is about having fun and feeling good. I want to make sure that this is achieved in a manner that is satisfying to all involved. By moving forward on a path of lifelong learning and improvement, I hope to encourage you to use whatever methods seem best for you. When you attach some investment property on the side, it can back you up with it’s consistency in case other ventures don’t go as planned or they run their life cycle. A resource that can make a huge difference in your success is Real Estate Investment Network for Canadians. As all my partners know, we are happy to share our thoughts and will always remain 100% transparent to ensure you have the best experience possible.