CanadianFinancialFreedom.com

New Internet Venture - Make Extra Money

2009-03-10T00:12:04Z

NEW INTERNET VENTURE:

"BarterForFree.com" & GLOBAL TV INTERVIEW

A month or so ago, I offered an opportunity to become involved in a new internet venture; I look foward to working with the group of people who have joined me on this wonderful ride. This new spin on an old idea will be LIVE by the summer. Although there is no longer an opportunity to become involved with the venture, you can still register now to receive our Free Gift when we go Live on the Net!

It's free to register, you'll receive a free gift in the early summer, and you'll learn how to barter goods and services to reduce your cash outflow and get stuff you want or need. If I haven't convinced you to register at www.barterforfree.com, you might do so after seeing what I've received with no cash outlay over the last few weeks only!

a couch reupholstered
fitness classes for my students
large dents on my car repaired
driveway resurfacing
carpet replacement at my cottage
plumbing repairs

Regsiter with www.barterforfree.com today and save thousands tomorrow with this innovative approach to a time-tested concept.

Should We Take Responsibility

2009-03-10T00:09:52Z

SHOULD WE TAKE SOME RESPONSIBILITY?

I often wonder whether the excesses of our lifestyles (as opposed to the lifestyles of our parents and grandparents) are at least partially responsible for this mess we're in now. For many decades, we have lived in what I call the "I deserve" decade. During this time, we have not worked for the money first, then purchased later. Instead, we have bought first (because we deserve) then figured out how to pay for it later. In simple terms, this is easy to understand: the over mortgaging of a house, the easy credit society of North America, the resistance to working for a living, or the grandiose excesses of our lives.

What if we were to apply this concept to a much larger scenario? Take for example, the workers in the automobile industry. Can we consider that the union strength and worker demands might have had at least something to do with the fact that there is almost no positive, healthy auto industry left? What about Nortel? This corporation (who's stock are now valued at 10 cents, and has written off 3 billion dollars over the last 4 months and fired over 70,000 employees) has just somehow voted on 45 million dollars worth of bonuses for senior level management! I mean, imagine the entitlement umbrella under which these guys are taking cover! And this is just after posting a 15% drop in revenue!

If we think about, we have all been responsible for getting to where we have landed. Our destination was almost certified from the day we boarded the train. If we are to climb our way out of this, I believe we will need to take some responsibility for changing the way we operate, both personally, and corporately.

This Recession Will Deepen

2009-03-10T00:07:12Z

RECESSION UPDATE

CMHC has forecasted that our economy is to rebound by 2010 and the Bank of Canada chief has also been quoted as expecting a rebound in early 2010; these forecasts have also been received with widespread ridicule. I wouldn't necessarily ridiculue anyone for their forecasts, but I would consider looking at the current facts and trends. All of the forecasts that have been proclaimed, over time, have been revised downwards as these last few months have passed. For example, an original housing starts fourth quarter outlook from last year was predicated at 200k, but reduced to 177k, then reduced even further. The fact is that housing starts are now lower than they have been in seven years! I believe that housing starts, which have been steadily declining since last October, and are primarily fueled by the global financial crisis will result in further decline of home sales, leading to a further softening of the economic climate. But Duggan, the CMHC chief has proclaimed the following:

"Housing market activity will begin to strengthen as the Canadian economy rebounds in 2010 and the level of housing starts over the forecast period will be more in line with demographic fundamentals."

Further reports from CMHC show drastic declines in housing starts, especially in the West (most likely because it was booming the most), where upwards of 30% drops are expected by the year's end! Can you imagine if your home value dropped by 30% in one year? But most reports and many forecasters are suggesting that perhaps with the exception of BC and Quebec, most provinces should see some relief in 2010. I guess we'll just have to wait and see.

Home sales in Canada have also been steadily declining (housing starts and home sales are interconnected); current forecasts for average decline rates are in the 15% range for the next year! Average home prices are expected to decline by a little over 5 %! Current data shows that Canadian home sales have plunged dramatically by 41% and prices dropped by 11%! This signifies a huge and abrupt stalling (but a year is still less abrupt than a day, or a few minutes, like in the stock market - and we did have notice) of the market.

MORE BAD NEWS!

Set off by AIG (the world's largest insurance company) which recently received a bailout of over 180 billion dollars!!!!, markets were in a spin this past week. Last Monday, AIG wrote off over 62 billion dollars and coupled with a sinking US economy and a drop in Gross Domestic Product (Canada's drop was over 3% last quarter) markets reacted aggressively. Our stock exchange dropped over 435 points in just one day - the lowest close in OVER a decade!

Since Labour Day, the stock market average has been going south consistently. Markets ranged in the 14000 point scale and now our just over 7000 - a 50% drop since September/08 and we are only in March/09. Although things aren't as bad for us in this area as it is in the US (where markets closed last week at their lowest ever in more than a decade!), things are still concerning. And with the GDP continuing to decline, this is my summation: this recession will continue to deepen.

Spend A Day Learning About Success!

2009-03-08T03:42:44Z

SPEND THE DAY WITH AMERICA'S #1 SUCCESS COACH - THIS MAY IN TORONTO!

This May, success coach Jack Canfield, originator of the Chicken Soup for The Soul books will be arriving in Toronto for the first time to teach "The Success Principles 2009", his powerfully motivating positive thinking program. You can spend the day listening to his teachings and leave that much stronger, more knowledgeable, pumped to change, and more dedicated to success than ever before. I will be there in support of my very good friend, and one of the original founders of this club, Ginny Kontosic. It was her brilliant idea to bring Jack Canfield to Toronto, and I am dedicated to her success. Join me and fellow club members for the day and learn the specific strategies Jack has used to become a millionaire many times over! Buy your ticket on the Early-Bird Special and save on your ticket price. Check out her website at www.universalenergieseventplanning.com. Anyone who is dedicated to success will be there! See you at the Metro Convention Centre on Saturday, May 23rd, 2009.

On Your Journey To Financial Freedom

2009-03-08T03:36:34Z

PLOT THE PROGRESS TOWARD YOUR GOAL

If you are really interested in succeeding, you must have a specific goal. Goals are funny things, because they often actually cause failure. For example, many people have the goal "I want to be rich", or the even more creative - my own personal favourite because of the words ("I want to attain financial freedom."). Although we should all be aspiring to the latter, the words are lofty in nature and broad in scope.

To be workable and focus-oriented, goals should not be lofty and vague, but instead be attainable, realistic and measureable. The following goal is an excellent one: "By January, 2010, I want to increase my monthly cash flow by $5000 through the generation of positive cash flow and the reduction of expenses." This particular goal gives you a specific scope, tells you how to do it, then expects itself to be completed by a specific date.

Marking your achievements on a desk chart, a wall chart, a computer tracking program, or a graph of some sort, will help you along the way. Charting your progress on a specific day of each week helps continue to make yourself accountable. One friend of mine had a creative spin on the charting/graphing idea. She has purchased a slightly upscale (read: attractive) key holder. You know those ones I mean: the ones that are like a little cabinet, using being in the property manager's office, or the janitor's office. The cabinet opens up to a gazillion hooks upon which you hang your keys. My friend's version is a slightly upgraded (non-metal) version of this idea: each time she buys another property, she hangs a copy of a set of keys! Way cool!

A Dozen Hard Learned Lessons!

2009-03-08T02:59:51Z

SOME HARD LEARNED LESSONS!

Lesson # 1: Combine the things you love, but make sure one of them makes you money!

Lesson # 2: Watch Fads because they could become Moneymakers!

Lesson # 3: Even successful people can be close minded about new things - they may only trust the market they know.

Lesson # 4: Realize how stupid you were yesterday, how much you need to learn today, and how much you will realize you didn't know today when tomorrow comes

Lesson # 5: There is always another way to solve the problem; you just have to be open-minded enough to see it

Lesson # 6: Don't be afraid to venture out and try something new

Lesson # 7: Real estate growth is way easier than working for a living

Lesson # 8: "Listen to people who have more than you in the field in which you wish to gain, not less. Pay attention to their prejudices about new things, but trust what they say about what they know.

Lesson # 9: Even though you make the same amount of money, you can move up if your real estate makes more money than you do!)

Lesson # 10: Don't be afraid to do what you love, just find something else to subsidize it, instead of having it deplete you.)

Lesson # 11: Fear and need are powerful motivators.

Lesson # 12: Don't forget to give. You shall receive. Always spend your days trying to find some way of giving back something. It doesn't really matter what, who, or how much. Just do it!

Don't Forget to Do Your Homework - You Might Win Big!

2009-03-08T02:26:42Z

Due Diligence UPDATE

Just the other day, I glanced at the letter addressed to me from the Planning Department of the city hall of a town in which I have invested. To tell you the truth, I avoided opening it, as I thought it was yet another complaint from the lady who owns a house behind one of my properties. Over the last few years, her daughter and her daughter's boyfriend have built some sort of tent/shelter out of an old trailer. This 'building' actually sits on a portion of the rear of my property. Even though I staked out the property (officially by a surveyor, nonetheless) and proved that this 'shelter' was infringing on my property, nothing was done! (Lesson: "Understand the Community Where You're Investing - to avoid annoyance.") However, when this same woman complained that my willow tree was blowing stuff on her daughter's 'shelter', I was asked officially to either remove the tree or spend thousands trimming it! (This is small town Ontario, you know!) I have been narrowly avoiding the cost of this ridiculous requirement for several years - oh, the problems of landlordship! Less facetiously, the minor annoyance of this problem (notwithstanding its 'entertainment value') will not likely supercede the thousands in income this property has afforded me. (Lesson: "Buy Cashflow Properties in Stable Markets"). But, I digress. Finally, I decided to face the music and open the envelope, which led to my pleasant surprise! (Lesson: "Never Avoid") This envelope contained a Notice of Application, not a Willow Tree Compliance Order! (Lesson: "Think Positively") Apparently, the historic mill in this town will be undergoing a huge revitalization, starting with the proposal of a 60-unit condominum development! (Lesson: "Real Estate Pays Off"). Now, truthfully, this may never happen, but I do remember talking to the elderly lady and owner of the property next door to my property. I was listening to the list of ailments that had been afflicting her husband at that time (you have to actually talk to neighbours in small town Ontario), when she seguayed into the potential for this very condo development. At the time, I thought it was just wishful thinking on her part. Today, I am humbly embarrased by my arrogance: somehow, she had known all along. (Lesson: "Listen to Older People - they know more".) And know, I know, too. I will definitely not be one of the complainers who shows up at the new development committee meetings to whine about the advancement of new property developments!

Listen Up!

2009-03-08T02:23:37Z

SPEAKING INTEREST RATES AND OF PAOLA BEING DUMB!(LOL)...

I talked to an old timer the other days (these guys are great to talk to you because you get their wisdom instead of your own arrogant knowledge base (I speak for myself), so you always seem to learn something knew - if of course, you're willing to listen. We started talking about how times have changed and how he's seen it all ... blah..blah...blah.... I guess (I must admit) I slightly glazed over when he was talking about the good old days in real estate, but I was sadly too arrogant to completely listen, because only when I was intelligent enough to tune back in did I realize he was given me nuggets of gold. He told me that he had rental homes ("you young people have fancy names for them like cashflow holdings, but they're really just rental homes you didn't buy when either you or the market was being stupid") for example, in 1981 when the rates where 19, 20 and 21 (bank rates are always a bit higher than the Bank of Canada rate. Thankfully, I was totally alert by then, when he said (after I asked him how he fared during those times), "no problem: I wasn't stupid, so I didn't buy anything and try to apply for a mortgage when the rates were so high, plus I just sat on the homes I had when the rates were low. I had some cash by then, so I bought a few home from people who went 'belly up' - I kid you not, those were his words - IN CASH while everyone else was scrounging for pennies and crying because they couldn't pay. And you know what, young lady? (for a few seconds I was called a young lady- which was nice - my kids usually call me 'old bag' -lol), 'it was the best time for real estate'! I still have those homes (because I've never sold anything, and now I'm a millionaire many times over." Needless to say I was internally embarrased that I didn't quite listen to the first part of the conversation, but I have to say I was happy when he told me that he liked my style until he issued forth the punch line: "I think I know a bit about your holdings....been snooping around to see if you're for real....don't like those wiseguys selling courses who don't know what they're doing...so I just checked you out and, you are for real. But that's not the best thing I like about you. You know what that is? Most of the time, you look like a bum!" With that he laughed, clapped me on the back, showed me the twinkle in his eye and walked away!

It serves me right, I guess. But still, - it was informative. And I learned more in that few minutes than I have at any university class!

Recessionary Blues Suddenly Look Pink!

2009-03-08T02:19:09Z

This for sure is a time to reflect on the changes in the market over the last year. We have gone from boom time to a serious recession. To be sure, this year has been an interesting and challenging one for investors, with all the wild fluctuations in the market and the global economic crisis threatening to strangle virtually every economy on the globe.

For many years, (since approximately 1992, in fact), the western world has enjoyed an exuberance of value, an oppulence of spending and a carefree attitude towards credit and fiscal responsibility. There was what can be described almost as a buyer's frenzy or buyer's mania, where we thought nothing about the impact of such 'freedom buying'. Things have clearly changed.

Many of you might recall the many months ago, I issued a warning with respect to the upcoming and imminent corrections (through the newsletter) citing beginning and slight agitation in the market, the warnings of financial gurus and a variety of other factors. Let's review for a moment what's happened since then.

There has been a dangerous plunge in housing value not only in the United States, but also in western Europe. There's been a credit freeze almost worldwide, which the Innisfil group can attest to has filtered down to the little guy. There's been drastic plummets in the values of commodities and stocks. There have been massive governmental bank and auto bailouts (and outright failures) across the broad chest of our important trading partner to the south. I know it sounds a little petty, but even I was shocked into reality (although I had seen and recognized these symptons long since) when I heard our very own Conservative PM encourage the idea of 'deficit spending'.

Well, we all know the basic facts now. If we haven't protected ourselves in the past few months, then we ought to learn a lesson - and remember these signs the next time they occur. In the meantime, as my grandmother used to say, "there is no use crying over spilled milk - just clean it up on your own, then get on with your day". What are we to do now?

I guess the big question to ponder is this: is real estate still the best option for investors? My answer is unequivicably: YES! In my personal situation for example, my home will likely drop in value, my income from school will drop even to a more serious negative cash flow position (with two families who've lost jobs as of early January, and likely few new prospects given the economy) and any equity property I have will siphon badly needed cash from my pocket, unless I can figure out how to make the equity properties into cashflow properties. Actually, almost all of my equity properties also cash flow (at least to some degree - and some to exceptional degrees). But what about my land purchases?

They're still sitting there and will likely drop in value, but it doesn't matter because the maintenance on them (financially) is very low. The big clincher though, is what about my cashflow properties? THEY ARE STILL CASHFLOWING! This is the best thing about cashflow real estate: even in a crisis market, you can still find a way to make it work. And, if you have any cash base at this time and going forward, it is definitely the time to buy! With prices dropping by the minute it seems, and the Bank of Canada doing its best to protect the economy by dropping interest rates, this is the time to buy if you are buying for cashflow. Consider this: the money from my cashflow properties still came in this month! That's what RichDad's Robert Kiyosaki is talking about....(www.richdad.com).

Let's look at this market as opportunity 'cause that's what it is.

Market Update & Personal Finance Suggestions

2009-03-08T02:14:38Z

MARKET UPDATE

For many months, there have been warnings of a market meltdown, or an impending crisis. Unless you live in a cave, you know by now that there are problems both in the US and globally. Financial markets like the TSX went down over 800 points this week, house prices all over Canada are falling, the US situation is a disaster, with people loosing their homes left, right and centre, and debt load consumers are bracing for job losses in all major Canadian industries. And although, we're not facing the same horrific situation here in Canada, we are definitely feeling the pinch on the credit lending side. There will be less lending, more prudent decision making, and tighter controls. As of October 15th, Canadian lending institutions will administer the change in law on lending practises, to buffer the Canadian economy and avoid the credit crisis facing the Americans. (In parts of Southern California, for example, half of all house sales are reposessions! HALF of all house sales! And listen to this: a majority of all houses are full of stuff the owners leave behind, including TVs, flat screen TVs, and other high-ticket items. What's the reason? They can't afford movers, so they just pack their car with whatever fits and leave the rest behind.) Surely these are all signs of omminous times.

What does that mean for us? Well, I think it means time to plan ahead. We're likely a few months behind whatever economic horror is occuring across America. According to Warren Buffett, the "Americans are heading for an economic Pearl Harbour." If Pearl Harbour or something like it is in the near future, then we should clean house to make sure we are padding ourselves with cloaks of safety.

Here are some personal financial suggestions:

Clean house: review all of your monthly expenses and reduce them in any way you can.
Get rid of excess stuff you don't need by selling on e-Bay. You'll generate income AND clean house.
Start an internet business and spend a few hours per week working on it... it may provide you with a few extra thousand in a year or two.
Do not pay off all your bills with any windfalls: buy some property instead.
If you have any savings accounts, switch them to banks paying high interest on savings accounts (without the bother and chains of locking in). This means you leave TD or BMO and head over to www.hsbc.ca, www.icici.com, or www.ingdirect.ca. All of these banks offer regular savings accounts that pay out 3% interest. It's better than nothing and it's NOT locked in.
Review all your credit outstanding and make a plan to get rid of them.
Consider buying stocks now or in the next while... as things are sliding. When stocks go down, we forget that it's actually the best time to buy!

Here are some real estate suggestions:

Refinance today! Get a credit line quickly. If your house goes down in price and you lose your job, at least you'd be able to use the credit (from today's value of your home) to purchase something which will generate income.
Buy cash flow property now!
Sell off large scale equity property that have no possibility of becoming cash flow property.

Take heart, things will get better. In the meantime, make sure you clean house and review your holdings. Slight adjustments now will guarantee your financial future will be that much brighter!

Your New Part-Time Job

2009-03-08T02:11:32Z

YOUR NEW PART-TIME JOB

During the last few meetings, I was esposing the virtues of a weekly time you could allocate/dedicate to your new part-time job. This part-time job is about securing your future or attaining your financial goals. The idea is that you would set aside 2-4 hours per week to dedicate to your financial future. You spend that time (come hell or high water) at the computer doing 'real estate homework', meeting with a mentor, or reading a Rich Dad book (or checking out the CFF website www.canadianfinancialfreedom.com, or doing whatever you need to do to make your financial future better. I've picked one night per week from 11:00 pm to 1:30 am because it's the only time I have and it works for my life style: I know nothing will come in the way of it.

Over the last few years, when I have employed this strategy, it has worked. When I have not, (although I still have all the past financial improvement to enjoy), I gain nothing new.

What's the moral of the story? Get yourself a new part time job!

One for which you receive no money, just a much more promising financial future. And one that's for you....only you....and your retirement, or the financing of your dream, or for your family; one that's for whatever you want it to be. You just have to do it.

Economic Update

2009-03-08T02:10:22Z

ECONOMIC ENVIRONMENT UPDATE

If you believe we all have something to learn from one another, you will surely respect the opinion of Warren Buffet, one of the leaders in investments and money. In mid August, he was quoted as saying that "ripples in the industry will continue to cause larger and larger problems in the financial sector and the economy as a whole". He correctly predicted more huge companies folding under Chapter 11 bankruptcy protection and widespread damage in the US economy. A few weeks later, Fannie Mae and Freddie Mac (the largest source of funding for the US) required a federal bailout, Lehman collapses (stocks which were worth $66 in February a few short months ago are now worth 21 cents!), Merrill Lynch (the third largest investment bank) is saved at the last minute by the Bank of America after it posts huge losses, and the US government bails out huge insurance giant American International Group (better known as AIG)....are you insured with them? Yesterday (Tuesday, September 16th), US stocks had the biggest drop in seven years....

The situation in Europe is not much better. The recent pound's fall against the Euro is the latest sign that Britain is on the brink of recession. Apparently, this is the worst economic crisis in 60 years, according to Britian's treasury chief. He continued to say that he believes that "the economic situation is going to be more profound and long-lasting than people thought."

Are you getting scared? Well, I am - just a little bit.

But, if we keep our head on our shoulders, and stay rational, we will think logically - not emotionally. The world has gone through these kinds of times before, and we have come out the other end the better off for it. If you think back to the Great Depression, or even the stock market crash of Black Monday, (and if you do your homework and check the stats like I did), you'll find that we're WAY higher stock-market wise than we were before those times. No matter what, it always finds a way to creep back up.....

We just have to ride through the storm.

But, it's also a time to be smarter than we were before....here are a few suggestions:

If you've never gotten into the stock market, and you have some savings, this is what they're talking about when they say "buy low, sell high" - this is the time to BUY!
Hide out in cash flow positive real estate purchases.
Don't do anything 'high equity, low cashflow' - it's even a bigger gamble than it was before, and more dangerous economically than it was a year ago.
Don't waste your money on empty purchases (like 'I want purchases') - instead go into debt ONLY for cash flow positive purchases, or if you're totally secure in your job (who is these days?), go for cash flow equal if the other option is to do nothing.
Be more cautious than you would have been last year.
Before you buy, do your numbers!
Do your homework (I'm a teacher at heart, what can I say?) - Or as they say in the real estate circles..."do your DD - due diligence". Don't we understand 'homework' better? It's what we hate to do, but what we know will save us later on?

Barter - The Recessionary Economy

2009-03-08T02:08:40Z

USE BARTER DOLLARS

Has anyone heard about barter exchanges? I've been using BNL (Barter Network Ltd.) and Itex Canada for sales and purchases for several years, and it's worked really well. What is a barter exchange? The simple version of a barter exchange is that it works on the old fashioned idea of trading services or goods. It's a great system if you're short of cash, or want to produce extra disposable income with little effort to a dedicated market. The barter exchanges I have used are "Barter Network Limited" http://www.barternetworkltd.com/index.asp and Itex Canada michael.muzzin@itexcanada.net, (www.itex.com) as well as Trade Business Exchange: www.oktrade.ca. There's also some internet websites www.barterforfree.com and www.swapsity.ca.

In effect, you barter (trade) your services or goods in exchange for a credit, which then you can spend with any of the other people in the barter exchange system. The bonus to this system is that it is cashless (you don't need money), and it is a dedicated market: people will look to you because you are a barter exchange member. It's a great idea! (P.S. The exchanges charge a small fee to join, then a percentage of sales, but it's worth it.) Tell them I referred you - you never know I might get a kickback or referral fee, and instead of donuts and juice at the next meeting, we might just have champagne and caviar! LOL....

Psychology of Building Wealth Through Real Estate

2009-03-08T02:07:00Z

THE PSYCHOLOGY OF BUILDING WEALTH THROUGH REAL ESTATE

Many people have tried and failed to build wealth through real estate. The first question we should ask (even if it was us) is why? What did we do wrong? The truth be told: those of us who have failed (including me at times), have not followed the equations; we've invested without thinking, without having a plan, without seeing the overall picture, without doing our homeowrk, etc. Sometimes we were short-sighted with our vision and saw only what we wanted to see, but not what really was....

How can we change our thinking? Here are a few tips:

Instead of saying "We can't afford it.", think: "How can we afford it?"
Instead of thinking "We're poor", think: "How can we be rich?"
Instead of thinking "It doesn't work!", think" "What can I do different to make it work?"
Instead of thinking "I don't have money this month again - to pay the bills.", think: "How can I generate more cash monthly?"
Instead of being negative, forget about yesterday and think about today and tomorrow.
Read more and talk less, unless it is to ask someone who knows more than you do (because they've done it, not because they say it).
Agree that you need to know more and find out what you're missing.
Get a real estate investment mentor.
Set a goal and then work backwords.
Write it down and pin it up somewhere where you'll see it everyday - except change the colour or backing of the paper weekly so you don't get used to it and treat it like something you can just walk by and ignore.
Join the clubs and take a few courses.
Intermingle with people you aspire to be... the value of networking cannot be underestimated.
Buy someone (who knows more than you) some lunch or dinner...then listen to them while they share with you their secrets of wealth attainment. Cardinal rule: don't pretend you know more than they do, instead value their knowledge and learn from it.

But, what can we actually do? Here are a few tips:

The first and foremost: inform yourself and then buy cashflow properties first. When you want to do more, buy equity and value added properties to increase wealth exponentially.

Think of the three income types: earned income, portfolio income (for which we are taxed) and passive income (through real estate for which we can claim expenses). Which one do you depend on? If you're like most of us, it's the earned income. But what does that mean? In clear terms, it means that we must work to earn. If we want to earn more, we must work more. And really, is that all we want to do? Although I'm personally at odds with this (I absolutely LOVE doing the job I do - and I don't think I'd be able to be happy and spiritually satisfied if I didn't do the job I do), most people seem to be in a different boat. They're working because they have to - and not liking it. How can we switch it to passive income through real estate? Here's the simple answer: cash flow properties only. If we want to work a little and gain a lot, then we can extend this to equity purchases and land improvement (building, renovating, etc.) But if we don't want to work too much, here's the answer: plain, simple and boring cash flow properties are the ticket to achieving wealth.

Here's another interesting psychological nugget from Guide to Investing on unsuccessful people:

"Unsuccessful people find their strengths and spend their lives making their strengths stronger, often ignoring their weaknesses, until one day their weaknesses cannot be ignored anymore. Successful pepole find their weaknesses and make them into their strengths." (p. 274)

Which group do you want to belong to?

A Past Newsletter Tidbit

2009-03-08T02:04:47Z

INSPIRATION

Have you found that you just can't get going in real estate? If you're in a little bit of a rut, and you need a kickstart, have you considered a Daily Mantra? Before you laugh this off and think that perhaps a New Age Guru has taken over this blog, let me assure you that it's still me - Paola, writing to you from cottage country enjoying this week's supply of rain! When I first started, I repeated this sentence each morning as I started my day: "I am now a real estate investor. What will I do today to that end?" During the time that I used the Daily Mantra, my equity wealth and some cash flow stuff improved my overall financial wealth picture by 67%. In mid March or so, I stopped repeating this sentence (things got hectic for me and serious family illness added to the commotion) and my wealth over that period did not increase at all! I restarted the Daily Mantra routine in mid June, and since then I have decreased my expenses by $225/monthly (to add to my next purchase investment accrual high interest savings account), as well as increased my overall wealth picture by 22% (in two months). Have I convinced you yet? Try creating a sign and sticking it up beside your bathroom mirror to read everyday. You can use my sentence or create your own one. If you can't be bothered to make the sign, feel free to use the one I am now using, by downloading from our website.