I must say that on a personal note the 1990's for me were real learning years. I always had 2 investment properties going ( I usually lived in one) and began sourcing out and studying the economics of what drives real estate. I can remember countless weekends scanning the classifieds ( yes before the web was big!!) looking for properties to invest in.
I was in the music business manufacturing and distributing throughout the US and Canada up until 2002. That is when "IT" hit me. I fell flat on my back in the hospital in excruciating pain. They eventually operated and found I had been born with a defective bowel. They removed it and all is well. But it was during the recovery period that I decided to go through a mid-life crisis. I (for some reason) did not want to stay in the music business any longer. BUT I did not have a clear picture of what else I wanted to do.
It was during this time that I discovered the magic of setting goals....
MANA REAL ESTATE GROUP
Your Full Service Real Estate Team . We do for sale by owner, fsbo. investments, property managing real estate in the Barrie, Orillia, Midland-Penetang, areas. Also Collingwood, Innisfil, Wasaga Beach, Alliston, Owen Sound, Parry Sound, Muskoka, Gravenhurst, Bracebridge, Honey Harbour, and Parry Sound areas
http://www.manainvestments.com/
Oh the news is so scary....
I know that I have a lot to learn and that at 47 I may sound ignorant by this comment, but why do the media LOVE negative press? I know we all can say "well it sells papers or makes the headlines"...but I want to say is that it also scares people into thinking negatively. I know you can say "He is so naïve..." but I have to say it ...Barrie Ontario is NOT in a recession. I know... call me an idiot because all the headlines are saying it...I means it's everywhere right? Journalist are not wrong....are they? I mean when we read that Canada may be heading into "rough waters" i.e. a recession ( Thanks Jim Flaherty), well I guess Barrie is in Canada so batten down the hatches right?
But let's talk fundamentals for a moment. For those that read my blog know that I am a big advocate of economic fundamentals both nationally ( Macro) and locally ( Micro). Lets just look at one statistic that journalist just miss all the time. In Simcoe county (micro), Barrie has the youngest average age in all of Canada ( yes look it up at Statscan). I know I'm not an educated journalist but what do young people do? Spend their (parents) money and go to school. Spending money and going to school are the number 1 and number 6 indicators of a solid economy i.e. future growth. Duh...
And that is only Barrie. I could write, ( spew as my wife puts it) all day about the potential in Orillia Ontario. With only 30,000 people, all it takes is 3000 people to move there and it will grow by 10%. By 2011 the new Lakehead University campus will have 3000 students....duh
MANA REAL ESTATE GROUP
Your Full Service Real Estate Team . We do investments, property managing and for sale by owner ( fsbo) real estate in the Barrie, Orillia, Midland-Penetang, areas. Also Collingwood, Innisfil, Wasaga Beach, Alliston, Owen Sound, Parry Sound, Muskoka, Gravenhurst, Bracebridge, Honey Harbour, and Parry Sound areas
http://www.manainvestments.com/
Re-finance options
Here is a plain, easy to read and understand guideline on refinancing your existing mortgage. Although many people normally would not consider doing it (get your mortgage and keep same terms till you sell...), it makes sense for some in a falling interest rate environment. Whether you are an investor or residential home owner, these guidelines make sense, when compared to the penalties involved.
http://www.msnbc.msn.com/id/23135212/
MANA REAL ESTATE GROUP
Your Full Service Real Estate Team . We do investments, property managing and for sale by owner ( fsbo) real estate in the Barrie, Orillia, Midland-Penetang, areas. Also Collingwood, Innisfil, Wasaga Beach, Alliston, Owen Sound, Parry Sound, Muskoka, Gravenhurst, Bracebridge, Honey Harbour, and Parry Sound areas
http://www.manainvestments.com/
Assignment or Wholesale Real Estate
We just completed an assignment on 170 Nottawasaga St in Orillia. Assignments are great ways to "be" in the real estate business without having your license. Simply put, you put under contract under valued real estate properties. It's like you become a wholesaler. You buy low, then sell with a small assignment fee attached. You do this by sourcing out good valued properties, complete a purchase and sale agreement, and hopefully before you waive conditions, you "assign" the contract to another investor. This can be tricky as in this case we waived conditions without securing an assignee yet. We bought the property well under market value so we were confident we could find a assignee. I would not recommend doing this under normal circumstances. Once you waive, you have the possibility of losing your deposit and being sued by the vendor. What kind of properties are best? Every area s different as the micro-economics are different, but in the Georgian Bay, Simcoe, Barrie, Orillia areas there is a strong demand for cash flow properties so we look for investment properties with a strong cap rate of 10% or more. Multi-residential and commercial properties work well as in most cases your "assignee" is looking for an investment. However wholesaling residential properties can be lucrative as well. If you would like more information on doing real estate transactions such as these please contact us.
MANA REAL ESTATE GROUP
Your Full Service Real Estate Team . We do investments, property managing and for sale by owner ( fsbo) real estate in the Barrie, Orillia, Midland-Penetang, areas. Also Collingwood, Innisfil, Wasaga Beach, Alliston, Owen Sound, Parry Sound, Muskoka, Gravenhurst, Bracebridge, Honey Harbour, and Parry Sound areas
http://www.manainvestments.com/
Development Strategies
The recent listing of 385 and 387 West St N, in Orillia Ontario is proof that our strategy for this property was correct. In our initial financial analysis we calculated a break-even scenario until such time ( approx. 3 years) we would sell to a developer. We analyzed the market trends, (population growth, due to new Lakehead University), transportation changes (widening of West St N), and vacancy rates ( 2% vacancy...indicates strong demand for housing...in part due to the combination of the previous 2 in-dices...i.e. the low vacancy is proof of the growth in the region.)
Although this property does not cash flow strongly, it does however carry it self, making it an ideal development property.
MANA REAL ESTATE GROUP
Your Full Service Real Estate Team . We do investments, property managing and for sale by owner ( fsbo) real estate in the Barrie, Orillia, Midland-Penetang, areas. Also Collingwood, Innisfil, Wasaga Beach, Alliston, Owen Sound, Parry Sound, Muskoka, Gravenhurst, Bracebridge, Honey Harbour, and Parry Sound areas
http://www.manainvestments.com/
Professional Real Estate Group. We invest and teach others how as well. Our focus is Education...NOT Speculation. We are always looking for other real estate professionals to work with
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