Posts Tagged ‘Real Estate’

Gratitude and Partnerships

I thought I would take a little different twist this month, and relate a recent incident that happened to me, that made me so frustrated I could have screamed, yet a moment later a huge belly laugh was the result.

Jeff and I enjoy a lifestyle that we have worked very hard to obtain. We own multiple properties and have invested heavily into our own personal growth (books, workshops, camps, courses) as well as into our rental properties. I mention the personal growth, as it is from this education and experience that I was able to take a very frustrating moment and instantly turn it to gratitude!

During the holiday season, Jeff and I were able to spend the entire week around Christmas, hosting family and friends. After everyone had packed up and gone, we were able to travel to Candle Lake in northern Saskatchewan to spend time with our friends. None of that would be possible, if it were not for our real estate investments and another my other business that I started last summer (see my last blog for more info) Both businesses have partners and a team approach, so we can structure our lifestyle to be flexible.

On January 1st, with a temperature of – 33 Celsius, we went ice fishing. I was feeling very grateful to Jeff and our friend Ted, as his wife Susan and I sat in a warm truck while they prepared the ice fishing shack. As we waited Susan and I chatted about how fortunate we were to have such good men. Finally, the shack was warm and toasty, the ice fishing holes were drilled and hooks were baited. They waved us to shut off the truck and come into the ice shack. At the last minute, I decided to bring my phone in, to keep track of time and to take pictures of our soon to be prized ice fishing catches. Life was good.

Within 3 minutes, Ted had caught the first fish! Excited, I took a couple of pictures and began to jig my fishing line in earnest.

Just a few minutes later – my phone whistled to notify me of a text. I took the phone from my pocket and read the text from a tenant. I was a little annoyed, after all, I was on holidays, and when I read the content of the text, I became more frustrated. You see, this tenant lives VERY inexpensively, and is a bit needy. Her text was a very trivial matter that could have waited and in my head, I thought of a very “cranky” response. I began to text her back when “IT” happened …

My phone literally jumped from my hand, and down into the ice fishing hole. Yep, seriously. The phone jumped right down that 8” hole. I stared in disbelief. There was no way I could have recovered that phone.

I know it jumped, as I have never, ever dropped my phone before. As it sank the 35 feet to the bottom of the freezing water, I started to laugh at the situation. I realized that I had allowed myself to think negatively towards that tenant, and the Universe was getting even.

The men in the ice shack laughed at me hysterically – why did I bring in a phone in the first place? Susan laughed with me, such a good friend!

I believe that the energy you put out (which includes your thoughts, words and actions), come back to you. I immediately knew that this phone experience was to teach me a lesson about gratitude, and hey, it’s just a phone, and I can replace it… hence the belly laugh which ensued.

Shortly it dawned on me.

This was not just a “phone”; it’s my #1 tool that allows us the flexibility to live life as we wish. It holds everything related to both of my businesses. Contacts, texts, photos of properties, rental contracts, everything!

I then made the decision to include my phone as one of my daily thoughts as to what I am grateful for.

Since then, I have thought more about our two businesses. Who or what else should I be acknowledging more often through my words, thoughts and actions?

I am grateful for tenants – and I regularly tell them how much I appreciate them and at Christmas, we acknowledge our best and most loyal tenants with a gift.

I am grateful for our partners. While we own the majority of our properties, our Joint Venture partners, normal people like you, who were sick and tired of worrying about their own financial future; frustrated with the returns on their money from traditional investments, or those who simply wanted to own real estate without any headaches. They gave us not just their money, but they gave us their trust. I am so grateful and honored, by that trust.

Each quarter, we send them their cheques from the Cashflow, and I am grateful again. Yet – I rarely have expressed that gratitude either verbally or in the form of a physical or tangible gift. This year, that is changing, I am making a point to phone and express my appreciation for their trust, and when/if an appropriate tangible gift shows itself, I will be happy to provide that as a gesture of gratitude as well.

I am also grateful for our team. Our team includes professionals, such as our realtor, lawyer, tradesman and handymen. It also includes our family, a few volunteers, our mentors and even those we mentor. For without them, our businesses would not only be much more stressful, but in fact, may not even exist.

Finally, I am grateful to you for reading my blog. Writing gives me the opportunity to reflect and share what I have learned. I have no idea how much longer I will be writing for other people, as my other Cash Flowing Business is also demanding of more time, so I hope you have already or will sign up for my FREE monthly newsletter. If you did not fill out the “pop up” when you first arrived at this site, send me a quick message on the Contact Me button, and I will be happy to add your name and email.

Until next time, be grateful, be appreciative and stay well!


With all of the uncertainty right now with the US Dollar, the economy in general and combined with people’s increased sensitivity to the need to look after their own finances.  What do you do? 

This week I have brought “The Mortgage Minute” to you, by Peter Kinch to talk about where rates might be headed .. but more importantly – what should you do? 

Pay off your Mortgage? Leverage the equity in your home home to buy more property?  or perhaps you would rather do nothing, but hope that all turns out ok for your future? 

Click Here to Watch & Learn


Listen to his perspective & then make a decision that is right for you. Let me know your thoughts on this topic!




As Real Estate Investors, Jeff and I are often asked to help people make decisions.  Most people truly do not understand all of the benefits of renting versus owning; nor do they understand the Profit Centres of Real Estate as an investment.

 Some people want to own their own home, but do not think of it as a potential investment – only as a place to live.  Many people who could afford to purchase & own their own place do not.  I wonder why?  Perhaps they only see all the work of maintaining a home, or worry about having to replace a furnace or fix the plumbing.  Or perhaps they see the monthly rent they pay as less than the cost of ownership, and like being worry free.

 What these people don’t see are all of the benefits of owning real estate, either as a personal residence with the long term goal of using it as an investment vehicle (leverage) or see themselves as Real Estate Investors.

 It is my hope that after reading and understanding the 6 Profit Centres of Real Estate – they may open their mind to the potential of owning a home & growing their investment dollars for the future. 

Understanding these profit centres will help improve both financial IQ and financial future!

 Profit Centre #1 = CASH FLOW

 As it relates to a property that is purchased as an investment ..Cash flow is simply the cash left over after you collect all the rent and pay out all of the related expenses including mortgage, taxes, insurance and a “contingency fee” for future repairs.  Personally, Jeff and I NEVER buy a property that does not produce positive cashflow.  Our viewing is that if we are going to subsidize someone’s rent, it will be for family, not tenants.  In addition, we also have an exit strategy (or two) including timelines, Read the rest of this entry »


What would you do?Recently I found this quote on a website from Rich Dad …. “Always Make Money in a Win-Win Situation ~

Always make money in a win-win situation. Everyone involved in the transaction should be satisfied and feel like a winner.

If you make money at someone else’s expense, it will come back to you in a negative way. Remember, what goes around, comes around” 

This quote reminded me of a situation that recently came up between 2 couples that we have been mentoring, of which one of them is a JV Partner in a property with us, and the other couple a potential JV Partner.

Our current JV partners decided they would like to sell one of the properties that we co-own with a 50% share.  We agreed with them that the timing was appropriate and that a substantial capital gain could be had by all parties.  We had held the property for approx 2 years.  They have only $ 8000 capital invested and we have each been recieving excellent cash flow payments for approx 18 months.

The existing mortgage on title is held in their name, and as a result, they have final say & signatures on the sales deal.  Together, with the help of a Real Estate agent, we decided on a selling price. 

An offer came in, it was accepted by our partners (with our blessings) and the paperwork began… with the anticipation of a quick closing.  Also of interest is that both the purchasers and the sellers are business acquaintances of each other and both are mentored by us.

As in all things in life, hiccups and challenges will arise when one least expects them.  In this case, the hiccup came in regards to the quick close anticipated.  Due to some inexperience in the sellers end, handwritten notes were made on the purchase offer, and the offer needed to be altered, prepared again and then signed.  All creating some time delays.  To add to the time challenge, the legal team (acting for both sides) had summer holidays interfere with the timeliness of the documentation being prepared.  All normal.  Perhaps a little annoying, but certainly not unacceptable or unusual.

As in most real estate deals, an appraisal was required in ordered to prepare for bank financing.  The appraisal was paid for by the purchasers, and the appraiser was chosen by the bank.  The appraisal came in at approximately $ 35,000 higher than the agreed upon selling price.  The seller asked the purchaser at what value the apprasial came in.  The buyer (who was reluctant to share the information), felt she had no choice but to reveal the appraised price with total honesty ~ and told the seller of the appraised value

Here is where the ethical question comes in. 

The time lapse created an opportunity for the seller to legally back out of the sales agreement….. What would you do?

In a future blog I will release the ending to this real life dilemma… Stay tuned!  In the mean time, I would love you to share your thoughts on this situation.  What would you do?  What do you think should happen?  I look forward to your comments!