This has been an awesome summer for me in many ways. It began with a quick trip to Aspen, Colorado where I spent 3 days listening to many best selling authors and other amazing people, speak on wealth building and how they are making a significant positive difference in the world. The event was called Seminar of the Century (Woodstock for the mind). Some of my favorites were: Jack Canfield, Mark Victor Hansen, Brian Tracey and Art Linkletter. Some of my favorite quotes were: “leap and grow your wings on the way down” by Les Brown and “If its not a hell yes, its a hell no” by Alan Cohen.
I also met with a man named Doug Meharg, who lives in Markham, Ontario and has created, along with his daughter, an organization called: “kids ride to riches”. Through this organization, Mr. Meharg has developed financial curriculum to teach young children how to set themselves up for financial success through life. Doug has asked me to speak at one of his upcoming seminars and I’m really looking forward to it.
At the beginning of September, I was in Panama closing on 2 condominiums that I had purchased pre construction at the end of 2005. They are now worth almost double what I paid for them and I’m contemplating other possible investments there in the future. Please let me know if you are interested to know more about investing in Panama.
As for the real estate market here in Toronto, in July, the local re-sale market was 26% more active than the same time last year and our transactions are up 13% over the first of last year. The market is being sustained by some very strong economic fundamentals and low borrowing costs are keeping homes within reach.
If you are interested in building true wealth in real estate, I strongly believe it is best done through buying and holding. In this way, not only will good tenants create wealth for you by paying all of the property expenses (if it is an income property), but your initial investment is also appreciating and leveraged by a fraction of the value. For example, if you purchased a property for $250,000 and put $25,000 as a down payment, if it grows by 5% per year ($12,500 per year), you will be making 50% per year on your initial investment (down payment). Please contact me to learn about the 8 ways to build wealth through your real estate investing. To your financial success!
All the best!
Michelle Read
Your Personal Real Estate Consultant… for Life
Download the PDF Newsletter: Autumn 2007 Newsletter
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