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Nanaimo
Real Estate Investors Club
Newsletter
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Hi Folks, Let's begin this artificial cycle we call a Year again and label it 2010. Ok that feels comfortable, 'cause we all agree it to be true. That's one of the few things we can all agree on. No wonder we celebrate it! Now we can compare what we're doing this year with what we did last year and attempt to measure our progress. This human urge to compare our efforts now with what we did before or our results with someone else's results is almost unavoidable. The good part of comparing is that positive progress towards a goal is life-affirming. The bad part of comparing is that we sometimes judge others to be "bad" people compared to us. I agree that there are "bad" results in life. What keeps me smiling is that I chose to believe that there are no "bad" people. Different, wacky, loud, quiet, etc but not "bad". I've had some wacky tenants in our suites. When their wackiness decreases the value of our property, disturbs others or means late rent, off they go. IMO they're still inherently good, they just gotta live somewhere else. The good people of Haiti are getting VERY undesirable results. Here's a short list of ways to help monetarily if you choose:
http://www.worldvision.ca/give-a-gift/Pages/EarthquakeinHaiti.aspx
text to 45678 the message HAITI, $5 added to your cell phone bill
http://salvationarmy.ca
http://www.redcross.ca/helpnow
http://www.humanitariancoalition.ca
http://www.msf.ca
http://www.plancanada.caI was taught a way to find properly-priced residential properties for investment that takes time to get going and is worth the effort. The technique is farming. Realtors are taught this because it works. Choosing your farm field, planting good crops and harvesting are all easy. I begin the lesson below. A small toot of my own
horn, I was quoted in the article "Victoria: A Private Affair" in the
November 2009 issue of Canadian Real Estate Magazine. The gist of what I said -
great investor properties are found privately, not on MLS. At the next NREIC meeting, Tuesday February 2, the speaker will be ME (Gord Knox) and the topic will be Using Your Computer to Invest Smarter. See below for details. |
| February 2, 2010 Meeting
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Topic: USING YOUR COMPUTER TO INVEST SMARTER
As a result of many questions from you all, I'm going to devote a couple of hours demonstrating how I use my computer to increase my effectiveness as a real estate investor. These techniques affect all aspects of the investing process, from finding properties to closing the deal to dealing with tenants.
Come prepared to take notes.
Beban Park Rec. Centre
2300 Bowen Road
Room 8 (right off the breezeway)
$10 at the door
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ad
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Layth
Matthews
layth@ratemisers.ca
250-591-3333
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Victoria Club Meeting Jan 26
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Tomorrow evening Tues Jan 26, at the VREIC club meeting our speaker will answer the question:
WHY WE DON'T INVEST - WHEN
WE WANT TO
There will be a small presentation about investing the the US as well.
Comfort Hotel & Suites
3020 Blanshard St
7 pm - 9 pm
$15 at the door
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Farming For Investment Properties
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In the news (see above), economists have
lots to say about the big picture. I suggest that if you're looking for
an investment property that you FARM a specific area. No, that
doesn't mean scratch rows in peoples' lawns and throw seeds in them.
Farming an
area is getting in contact with the occupants or owners of properties in a defined
residential area and letting them know you're an investor who's interested in
solving people's real estate problems. Yes, you want their property at a
steeply discounted price... before that though, I suggest you have an attitude
of being in service to others. You have the ability to buy someone's property
quickly and privately so how can you use that to serve others?
Farming is touching others with your message of being in service. How do you do
that? Here's where your creativity comes in! Any way you want that works! By
works I mean you don't annoy people, you demonstrate that you authentically
care and can help and you keep it up until harvesting happens. That may take a
couple of years AND it's worth it. Next month I'll talk about ways to touch the good people in your farm.
Gord
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Take the Lowest Rate! Why Variable Rate Mortgages are Still Looking Good.
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Here's our friend Layth Matthews take on getting the correct rate for your mortgage. From his blog.
Home prices are perking up
- and they better be! But the economy is still far behind, which is
great news for variable rate mortgages.
If
you are wondering how weak the economy is, consider this. Prime rate
has fallen from 6.25% in November 07 to 4% in November 2008 to 2.25% in
April of 2009 and has remained there to this day. (Source: Bank of Canada).
The payment on a $300,000 mortgage with a 25 year amortization at prime
rate has come down $658 per month or 33% ($1964 per month at the peak
of rates to $1306 per month now) and housing prices have hardly moved.
Despite
these huge reductions in the cost of a new house (interest costs are
the better part of buying a house), new housing starts have fallen to
53% of where they were a year ago and home prices are still flat or
down across the country. (Source CMHC)
The
good news is that housing prices have not gone down significantly due
to the valiant efforts of policy makers. The bad news is housing
starts are an important leading indicator of future economic activity
and housing starts are DOWN a lot!
All
this plus strength in the Canadian Dollar and weakness in the job
market, reduces inflationary pressures and frees the Bank of Canada to
leave rates low for a long time.
Some
are concerned that the current low rates could lead to another housing
boom. But overall, that would be a nice problem to have, because we're
going to need to generate employment somewhere and home
construction will stir a lot of sectors of the economy. Even when the
economy does begin to recover, the provincial and federal governments
will be withdrawing their economic stimulus programs, which will keep a
lid on excessive growth.
Bottom line is variable rate mortgages are still a very good way to ride out this stormy economy.
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USING INTERNET MARKETING FOR YOUR
REAL ESTATE INVESTMENTS
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By Jennifer Minge
Using internet marketing can be a great addition to your real estate investment
lead generation. Often real estate investors rely solely on a few methods of
generating leads, such as bandit signs, fliers, car signs, and good old driving
around, but forget to expand their systems as technology races ahead.
Motivated sellers, especially those heading for foreclosure are desperate for
help, and many times, they turn to the internet to search for their answers.
Most of your competitors may be ignoring this potential source of leads, and it
may be time to step ahead of the pack.
One of the first places to start can be with popular classified sites, such as Craigslist,
OLX, and Backpage. You can list your ads for free. Also, don't ignore searching
for motivated sellers on these sites. If they are strapped for cash, they may
be trying these free outlets.
The majority of internet searching today is done on Google, and they offer a
Pay Per Click advertising method calls Adwords. You may want to check into the
price of having an Adwords advertisement targeting your city, with keywords for
foreclosure, or mortgage assistance. Often ads targeted for a local market can
be purchased at very reasonable prices.
Don't ignore the possibility of having a webpage, which is optimized for your
local market. You may be the only investor optimizing their site, and you could
be the number one entry on Google for foreclosure assistance or other important
phrases in your local market.
One often overlooked method of using the internet for finding leads is watching
what people are talking about on Twitter, and other social networks. People in
trouble may be spilling their hearts out to their friends online, wishing
desperately for help. With some creative searching, you could be solving this
persons financial problems, and getting yourself a great investment property.
Just because the internet offers great opportunity, don't get sucked into it
consuming all of your time. Your best investment could be using the internet to
find great resources to help you find leads in more traditional means. Spend a
few minutes searching for people who help real estate investors. Find local
real estate investment groups in your area. Even make contacts with more real
estate agents and brokers online, to expand your circle of influence. The
internet gives you great opportunities to expand your reach.
Is anyone in your surrounding counties, and communities, compiling a list of
homes being listed for the intent of foreclosure, which is posted by mortgage
holders? Grabbing this list every week could keep you busy knocking on doors,
making phone calls, and closing deals. Sometimes internet marketing is best
used for communicating quickly and efficiently with your leads, to close your
deals fast.
Having a well rounded strategy for lead generation should include many avenues.
Consider adding internet marketing as one more method of finding your next
great property. You will probably be just as happy finding your next big lead
in an email, or with the phone ringing. Expanding your options, can increase
your opportunities to close more successful deals.
There are many ways to make a fortune investing in real estate. For more
information about real estate investing visit my website at InvestInRealEstate101.
For access to three of the greatest books every written on personal development
visit Your Free Gifts.
Article Source: Using Internet Marketing For Your Real Estate Investments
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