arcarealestate.ca

I leave on saturday to fly to Kelowna to speak at Darren’s event. I love doing this nad then I get to spend three days with Dave Debeau brainstorming. Awesome stuff. To top it off I have two marketing days and then a day with Robert Kiyosaki.

I have just verbally reached an agreement to purchase a 5 plex for too much money. Yes I said too much money but I did it any way because I am only using $5,000 of my money and I will make it back in less than a year. The cool part is I also get to help the seller by allowing her to place an RRSP mortgage against the property which gives her an excellent return on her money and allows me to pay almost nothing for her property.

I have another opportunity to purchase a rental property with no money down, actually I will or should make money! This is an 8 plex owned by an elderly gentleman who feels he is being robbed by his on site person. He hasn’t managed the property well in years, the rents are 25% below market rent and the property is fairly run down. He is asking $250K but in reality it is barely worth $150K so I will offer him $250K with a $100K cash back and have him hold the financing for six months. This will allow me to refinance with a bank in six months based upon a purchase price of $250K. This will allow me to take out some of the equity as cash and still hold the property with absolutely none of my own money.
Gotta love real estate.

Robert Kiyosaki has truly inspired me and even though I don’t have regular personal contact with him I do still consider him to be one of my mentors. I do have my own personal rich dad who I look to for advice. This person is elderly now and though he no longer buys and sells real estate he still plays the game. He can’t just sit on the side lines and watch because it would kill him knowing that his millions of dollars are just sitting in a bank doing nothing but losing value.
Listening to his old real estate stories and to have his personal guidance is priceless. He has opened my mind to a new level of thinking and networking.
If you don’t have your own personal rich dad yet then I strongly suggest you get one. They are all around you. It could be a local business person or a successful real estate investor, who ever it is approach them and ask them if you can take them to lunch but you pay.
Start building relationships and you will become amazed at how your success will start to grow. It will start very slowly at first and eventually begin to snow ball.
My rich dad suggested building a rental property over a year ago and although at the time it didn’t make any financial sense, it now looks like it will become a reality. My rich dad introduced me to another developer with land who most likely will become another rich dad for me.
Today I have plans for a 48 unit seniors building which will be built with the help of our government and I am now offering other investors the opportunity to join me. It is amazing how this project is growing and how so many people are becoming involved, greatly due to the fact that I have opened my mind to building relationships and stepping out of my comfort zone.
I am excited about having the opportunity to see Robert Kiyosaki live next month in Edmonton. He is a very entertaining and knowledgeable speaker and I strongly encourage you to see him if and when ever you can.
If you have any questions or comments I would be more than happy to respond.
Have an outstanding day.
Ken Beaton

I finally got around to creating a listing to sell Joanne’s duplex in Carleton Place. When Joanne looked at the listing she then wondered why she was selling, it looked so good. Many times you have to take a step backwards in order to take two steps forward and this is one of those times.
Making this move will help us achieve the much bigger goal of building our 45 unit seniors residence.

It certainly is a new learning experience for me. Joanne and I met with some council members to learn a lesson or two in how to be politically correct. This is a prime example of it’s not necessarily what you know but who you know. Although Joanne and I are very well prepared and experienced, my home town connection is really becoming evident. This doesn’t mean that I am getting any special treatment or favours but people certainly treat you differently when you are a known home town boy with a good background. Keep you informed:)

I stress to all my students that the level of success they achieve will be directly related to their ability to network. Most people relate networking with sales and they claim “I’m too shy” or “I don’t know enough” but these are just excuses. I am not a very outgoing person and I certainly don’t know everything. I actually force myself into new areas where I don’t know everything so that I can learn more. The trick is to keep planting seeds and nuture them with no real expectations. All of a sudden one day one of those seeds will spring up and want to do business with you. Keep planting seeds and don’t give up.
For me the seeds are popping up all the time, themost recent opportunity is to build a brand new apartment building as well as pick up an undervalued piece of land.
All I can say is keep on planting:)

I had a very interesting meeting with some potential investors who invited me out for coffee. The one thing I have learned in this business of real estate investing is patience. So many people want everything now but the reality is that life doesn’t work that way. I have learned that I need to continually plant seeds of thought by making presentations, teaching concepts at the local investment club, mentoring, playing Cash Flow 101 and just being friendly and answering questions.
Another lesson I have learned is that finding investors is not always about finding a great deal but rather working on a relationship. It doesn’t matter how great a deal is, if either the real estate investor or the financial investor are not comfortable with the other person then the deal should not move forward.
I now have a small group of potential investors who are interested in investing with me before I even find a deal and by having these investors behind me allows me to look at new investing opportunities.
In closing my words of wisdom are to continue planting seeds, looking for new investors to help you grow your portfolio and remember that this is a process which takes time so be patient and you will reap the rewards eventually.

I am in the process of launching a new web site to market and sell my property analyzer. This is a great program, easy to use yet detailed enough to help the beginning and intermediate investor make decisions about how good or bad a potential deal is. Check back later to see when the official launc is and how to find it.

If you haven’t heard already, Robert Kiyosaki is coming to Canada in November 21st and 22nd in Edmonton and Vancouver. I know you may be disappointed that it isn’t closer to you but I can assure you that it will be well worth the price of a plane ticket to see and hear him speak. Iread his most recent writing called “The Conspiracy Theory” and it certainly opens ones eyes and makes you think. Doesn’t matter if you think there is a conspiracy or not, the facts he shares with you are very enlightening. I am sure he will be speaking about his book as well as the current economic situation we are in and I am so looking forward to it.
Hope to see you there.