Hello Everyone Real Estate Investing in Hamilton Ontario!!
This past Friday, Cherry finally got to enjoy her Christmas present, tickets to Cirque du Soleil!! For those of you who are unfamiliar, they are a world renowned circus with only human performers based out of Quebec. There is live singing, music, drumming and ridiculous feats of gymnastics and acrobatics. When at the gym, I’ve tried to handstand and climb ropes so I have an appreciation for what Olympic caliber gymnasts are capable of and it’s awe inspiring, not to mention high risk, as there were no safety nets or ropes.
For Cherry, this was a surprise as I only told her to dress up a bit and that was all. She for sure thought we were going to meet Toronto Raptor Basketball players and watch a game because we were at the Air Canada Centre.
Afterwards, we returned to our home neighbourhood for a lovely dinner at Test Kitchen that Cherry has been dying to try. We didn’t have a reservation but we got a seat at the bar that was playing the Raptors game (that we won) so it couldn’t have been a more perfect date night!!
We are near capacity for our next Mr Hamilton Inner Circle meeting on January 23rd! You’ll want to reserve your seat ASAP as your success is determined by who you spend your time with and we’ll have numerous, highly successful investors in attendance as usual.
Skip the New Year’s Resolutions, Find Your Motivation
On our team, we do not make new year’s resolutions, we have goals for 2016 that we defined in November, we lead lifestyles that are reasonable and manageable, and we plan for daily/weekly/monthly tasks to bring us closer to our goals.
According to this Forbes article, only 8% of people achieve their new year’s resolution. If you’re one of the 8%, great, keep doing it, and if you do not have any goals written down, this is better than nothing.
If you want to be an elite, next level, successful, investor/entrepreneur then maybe you want to look into ways to get yourself motivated towards achieving your goals and I’ll share some of mine.
My motivations include: planning for early retirement, funding the cost of university and a downpayment for a first home for each kid. None of these are cheap and investing in real estate is much more profitable than any attempt we make to save money so for us the decision is easy. We need more investment properties. Quick side note: the tenants for my daughter’s house pay down the mortgage over $400 per month. That’s close to how much I was contributing to my RRSP’s when I worked in corporate… however I can’t scale my savings, investment properties I can.
Here’s my favourite daughter Robin (note I only have one daughter ;):
We love her dearly! With the rising cost of university tuition, down payments for homes, our wanting to retire early, the crazy costs of rep sports, etc. these motivations caused us to buy our daughter a house two months after she was born. Our favourite son (who is our only son) will be a home owner soon enough as well as we’ve been working to save and raise funds for an investment property for him as well so another tenant can provide us another $4-500 in mortgage pay down each month. By the time each kid is 26 years old, they’ll own a property free and clear with the mortgage paid off and who knows how much it will be worth then.
How would it impact you to have a an investment property that was free and clear? In today’s world, maybe a thousand dollars of cash flow from just one single family property? How would that have affected your decisions when you were 20 years old? Maybe you pursue that MBA, or Law Degree or whatever Masters or PhD program that interested you. Take a few months to travel before starting your career. Be in a financial position to be more picky about your work. Those are the benefits I imagine for my children from just one investment property each.
What’s your motivation? These are some of mine which motivate me to take action. Whatever yours is, I hope you find it and use it.
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin Szeto | MrHamilton.ca
Rock Star Real Estate Inc., Brokerage
PS: If you are just starting out investing, start by spending more time with like minded people and take guided tour of Hamilton by joining us for the next Mr. Hamilton Inner Circle by clicking here!!!