Happy Chinese New Year Hamilton Real Estate Investors!!
Happy year of the Rooster! Growing up Chinese in Canada, the new year is similar to most Canadian holidays where itâ€™s about getting together as a family over dinner and wishing each other good health and fortune. Especially the fortune part! As a kid, adults would gift us â€œluckyâ€ money in red envelops to be used as disposable income for whatever you wanted. Now that Iâ€™m an adult, the tables have turned where Cherry and I now are doing the majority of the gifting. 🙂
This year is special as my mom is visiting from Hong Kong and staying with us. In the photo you can see the dinner she worked tirelessly to prepare for our family: (lucky number) eight dishes!!
Kung Hei Fat Choy to all my readers and listeners to my podcast!! Congratulations and wishing you prosperity!!!
Speaking of prosperity, if youâ€™ve been investing in real estate, youâ€™ve been prosperous. If youâ€™ve been waiting on the sidelines, maybe you should stop reading, as youâ€™ll find out about what youâ€™ve missed.
How Itâ€™s Costing You to NOT Invest
This past weekend at the Mr. Hamilton Inner Circle Meeting, I shared some graphs on Hamilton average sale prices since 2014.
Some highlights and analysis of the numbers:
- The average property in Hamilton went up almost $118,000 in just three years.
- The average property price went up on average $3,300/ month and in 2016, the average price increased $6,300/month
- The â€œspring marketâ€ showed the steepest increases in price. We have implored investors to be buying in December-January for this reason. Thankfully, many of our clients have taken this advice.
- How would you feel if you lost $3,300 or $6,300 in one month? What would $118,000 mean to you, your family, your retirement, your favourite charity? The risk of opportunity cost is why I personally deploy capital ASAP into real estate, and so have many other new investors who buy 3-5 houses immediately out of the gate.
- Investing often and quickly will be the subject of our investor panel at our February Mr. Hamilton Inner Circle Meeting on Feb 18th, same time and place. Please do register in case we need to book a larger venue.
- The risk of losing out on future upsideÂ is also the reason I choose to hold my properties long-term vs. short term gains. e.g. flip or rent-to-own
Like one of my early and most favourite mentors said:
â€œThe ability to discipline yourself to delay gratification in the short term in order to enjoy greater rewards in the long term, is the indispensable prerequisite for success.â€
â€” Brian Tracy
I like greater rewards hence the decision to be frugal and invest TODAY!
Thanks for reading and happy Hamilton real estate investing!
Erwin Szeto |Â MrHamilton.ca
Sales Representative, Owner of Hamilton Real Estate Investment Property
Rock Star Real Estate Inc., Brokerage
President of the Basket Brigade Charity
Podcast Host/Producer of the Truth About Real Estate Investing for Canadians
REINâ€™s Top Player Award 2013, Silver Award.