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June 2009 Next meeting Tues June 30, 2009
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Victoria Real Estate Investors Club
Newsletter
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Hi Folks!
I've been looking at some "interesting" deals lately. One where the condo seller just wanted the buyer to assume the mortgage (no down payment) and one where the duplex would cash-flow nicely IF the two extra, "illegal" suites remained under the radar of local inspectors.
For the condo deal, the seller's mortgage payments + strata fees = $1,650/month yet the condo would only pull in $1,200 to $1,500/mo in rent. In addition, the buyer would have to qualify for the mortgage before assuming it.
For the duplex (four-plex if nobody complained), the building had a file at city-hall and conversion back to duplex (from being a four-plex for decades) had occurred (electrical and plumbing) because drug-dealing tenants had the whole neighbourhood paying attention, not to mention attracting visits by the local police.
When I was brain-storming the potential of these deals, what I really wanted was access to someone who'd successfully created profitable, win-win transactions in situations like these. Then I could ask them for help in looking "outside the box" and maybe benefit from their experience.
What I noticed was that I was willing to ask for help from people I absolutely knew would trust my intentions and gladly assist in some way. I was unwilling to call people whom I thought would say no to my request for assistance.
Lesson for me: being afraid of hearing NO is holding me back from using all the resources I require to grow my business. Yes, I'm getting over this fear. I practice by deliberately creating "safe" situations where I will get a NO response, feel the fear, then feel the relief that NO doesn't actually hurt.
Fellow investors from Saskatchewan speaking June 30, 2009. They will answer the question "Why invest in Sask?".
You got properties? Remember to pay your property taxes, 'cause they're due any day now!
Take Care!
Gord Knox
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Keller Williams Realty
323-1095 Mackenzie Ave
Victoria BC V8P 2L5
250-595-3200
david@davidhale.com
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Nanaimo Club
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Next meeting July 7, 2009
Beban Park Rec Centre
2300 Bowen Road
Room 8, 7-9 pm
For July and Aug we're playing
Cash Flow!
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Mid-Month Breakfast Meeting
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Join us for a social breakfast,
chat about whatever's on your mind and maybe have a laugh or two.
Saturday July 18, 2009
9:30 am
The Pantry
3214 Douglas Street |
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| Tuesday, June 30, 2009 Meeting
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Speakers this month Kelvin and Judy Jones, investors from Saskatchewan.
They will educate people on the pluses of Saskatchewan as a place to invest in Real Estate. They will give facts and figures to back up their belief
in the great market in Saskatchewan. They will take 10 minutes to talk
about a few investment opportunities that are available right now in
Saskatchewan that they are involved with.
They will also present a unique opportunity, based on the principal of giving
which Robert Kiyosaki, T. Harv Eker, David Bach and many others make as
part of their investment philosophy. They will take 15 minutes to talk about investing in real estate in third world countries that is very rewarding as compared to profitable.
Join us for the after-meeting meeting at Red's down the hall.
7 - 9 pm
Executive Eurostar Hotel
3200 Blanchard St.
Victoria
$15 at the door (no charge for annual mbrs)
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| Victoria Wealth Expo
2009
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"Throughout
the ages, many things have been used as currency: livestock, grains, spices,
shells, beads, and now paper. But only two things have ever been money: gold and silver.
When paper money becomes too abundant, and thus loses its value, man always
turns back to precious metals. During these times there is always an enormous
wealth transfer, and it is within your power to transfer that wealth away from
you or toward you." --Michael Maloney
Wealth by
Design proudly presents "Rich Dad" Advisor, Michael Maloney, as the key
note speaker at their upcoming Victoria Wealth Expo 2009. Michael is the
author of "Guide to Investing in Gold and Silver - Everything you Need to
Profit From Precious Metals Now". He is considered to be a precious metals
investment expert and historian and is the founder and principal of Gold &
Silver, Inc. He serves as an advisor on Robert Kiyosaki's Rich Dad team and
speaks frequently on commodities investing. Please plan to attend this all-day
educational event.
Date:
Saturday, July 25th, 2009
Time: 9am -
5pm
Location:
Victoria Conference Centre
Cost: No Charge
with pre-registration $39 at the door
To register:
Email admin@wealtbydesign.com or
call 250 294-7925 |
| OPPORTUNITIES
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Please note that I do not represent these folks or their opportunities, if you give them money and it all goes sideways, that's your problem....Gord
Cornell Pidruchney says:
I
know someone who is seeking a first mortgage of about $60K - $75K to close on a
small property up island. This
person has a business that generates gross revenues of well over $300K/year,
and nets $100K/yr for herself.
But
she has bad credit and conventional lenders will not lend to her unless she
gets a CMHC-insured mortgage, which she currently cannot qualify for due to her
credit. She
will have good credit in about 15 months and will be able to refinance with a
major bank then, but now she is in trouble and needs to close ASAP. She
plans to build a new house on the property and the property value will increase
as it completes.
The
property is likely valued well over $100K (perhaps as high as $130K) and she
may be willing to pay a lovely high interest rate. She
is seeking a private lender. Do you know any investors who want to make a
high-rate, very safe investment for 1 - 2 years? If
so, please send them to me directly. Thanks!
Cornell
Pidruchney
4
Pillars Consulting Group, Vancouver Island Office
Suite
#230, 1-5765 Turner Road, Nanaimo, B.C. V9T 6M4
Tel:
1-866-756-9239 Fax: 1-866-756-0150
cornellp@4pillars.ca
www.4pillars.ca
Annette Roehlig says:
I have an excellent Hotel Suite in a prime Downtown
Vancouver location in a beautiful Hotel. The Hotel Suite is doing nicely. It is
an armchair investment.
Annual net revenue 2006 - $9,000, 2007 - $11,000, 2008 -
$15,000.
This trend will likely continue, especially with the
Olympics and Para Olympic Games coming up.
If purchased all cash at $260,000 its anticipated yield
brings 5.77% - better than most other
investments or interest from the bank is doing for you.
Invest $65,000 of your own money and get a return of 23 %
on your money.
Visit http://www.westingrandvancouver.com/
for details on the Hotel. A .pdf with
detailed reports of revenue and expenses is available.
Annette,
annette.roehlig@shaw.ca Tel: 250 740 3948 Fax: 250 716 1159
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