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    The Simple Solution to Canadian Real Estate Investing: Rules for Playing the Real Estate Game to Win
    The Simple Solution to Canadian Real Estate Investing: Rules for Playing the Real Estate Game to Win
    The Simple Solution to Canadian Real Estate Investing: Rules for Playing the Real Estate Game to Win
    Ebook190 pages2 hours

    The Simple Solution to Canadian Real Estate Investing: Rules for Playing the Real Estate Game to Win

    By William A. Radvanyi

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    About this ebook

    “The Simple Solution to Canadian Real Estate Investing- Rules for Playing the Real Estate Game to Win” is an interesting read...
    From a proven formula for selecting a property to innovative ways for financing this system, when followed, will help even the most novice investor feel confident in their decision making process...
    John Belanger
    NCSO

    LanguageEnglish
    PublisherWilliam A. Radvanyi
    Release dateDec 2, 2010
    ISBN9780981273013
    The Simple Solution to Canadian Real Estate Investing: Rules for Playing the Real Estate Game to Win

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      Book preview

      The Simple Solution to Canadian Real Estate Investing - William A. Radvanyi

      The Simple Solution to

      Canadian Real Estate Investing

      Rules for Playing the Real Estate Game to Win

      By

      William A. Radvanyi

      Cover design by Scott Nero

      Copyright © 2009 Trendsetting Services Inc. All rights reserved.

      Published by Trendsetting Services Inc. At Smashwords

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

      Dedication

      To Patrick, Kira, Samantha, Kahlan and Lara...

      The reason I learned what I did.

      To everyone who listened to my ramblings which became the content...

      You all helped polish the message.

      To all those who helped with the book...

      You helped more people than me.

      Table of Contents

      Disclaimer

      Introduction

      Chapter 1 – Why invest in real estate?

      Chapter 2 – There’s no time like the present

      Chapter 3 – Ways to invest in real estate

      Chapter 4 – Know what you want and what your getting into

      Chapter 5 – Where’s the credit?

      Chapter 6 – Where’s the deal?

      Chapter 7 – Evaluating the deal

      Chapter 8 – Closing the deal

      Chapter 9 – Sweetening the deal

      Chapter 10 – Renting 101

      Chapter 11 – What the future holds

      Chapter 12 – The rules, in summary

      After Word

      Appendix A – Sample Rental Application

      Appendix B – Sample Lease Agreement

      Appendix C – Sample Notice of Eviction

      Appendix D – Sample Tenant Letter

      Appendix E – Crime Free Lease Addendum

      Appendix F – More Information

      Appendix G – Investment Home Evaluation/Inspection Checklist

      Disclaimer

      Now, as a legal disclaimer, I’m not a Realtor, nor a professional of any kind related to real estate, taxation (though I survived an audit), legal matters, economics, or financial matters. I’m just an average guy who took the plunge. Anything you read here is my opinion, not necessarily fact. If I made mistakes, either typographical or in the content itself, I apologize in advance. They are not intentional, but I’m human and not an expert. I don’t guarantee anything you read in this book will make you money, only that, in my experience, it worked for me. Throughout this book I’ll make use of many examples that will be heavily simplified (i.e. lots of numbers or considerations will be intentionally left out, or will be lower than in the real world). The examples are designed to illustrate a point in the simplest manner possible and shouldn’t be taken as real numbers in a real world situation, nor as an indication of potential profits you may achieve.

      This book is intended as a general guide, and not the ultimate source for real estate investing. Before initiating any strategies outlined in this book, I would strongly recommend that you seek further information from qualified experts.

      The Author (William A. Radvanyi) and the publisher (Trendsetting Services Inc.) shall have neither liability, nor responsibility to any person or legal entity with respect to any sort of loss or damage caused, or alleged to have been caused by information provided in this book. By reading this book, you fully accept these conditions. If, for any reason, you do not wish to be bound by any or all of these conditions, stop reading now and never read any further, nor have anyone tell you what happens next.

      Introduction

      When I was a kid, a new toy swept the nation, it was called the Rubic’s Cube. It was a deceptively simple 3 x 3 cube shaped puzzle with 6 different colours (one per side). The object was to mix up the colours, then restore the cube so that each side only had a single solid colour face, I’m sure you’ve seen one of the many knockoffs that are readily available.

      Tell you what, aside from using a hammer, the darned thing was near on impossible to solve until…

      June 1981 when a fellow by the name of James G. Nourse published a small little book called The Simple Solution to Rubic’s Cube.

      James had figured out a surefire solution that anyone could follow and be sure to solve this demonic puzzle. The result was the cube became a distant memory because anyone could do it.

      What does that have to do with real estate?

      Good question. This book is intended to be the equivalent for real estate investing. If you were to go into any bookstore you’d see shelves of books about buying and making money in real estate, so why the heck would I be writing another one? Well, I’ve read a bunch of them and about 99% of them are:

      1) based on the United States which has different rules and banking systems

      2) written with some unrealistic promises about making a vast fortune overnight

      3) so vague that they really don’t have anything of value

      I’m writing this book because I did increase my wealth using real estate and this is what I learned in the process. Many of my friends have asked me how I did it, so I’ve basically been telling people for years what I’m finally setting down in print.

      I don’t believe you need to go to some training seminars and pay people hundreds, if not thousands, of dollars. To me the people offering these seminars seem to be out to make money off the backs of others who want to make money in real estate, not off the real estate itself. So here, for the same price as a regular book, you’ll get all the things I learned about a simple way of making money in real estate. I’ll warn you about why I chose the path I did, and avoided others and I’ll give you the benefits of an education I myself never got, but had to find on my own.

      Having said all that, and before we go any further, there is something you must be willing to do, or nothing else I am about to say will matter. You have to be willing to overcome the inertia of not doing anything more than reading this book. Over the years I’ve talked to hundreds of people who want to be rich, and you know they all have the same common problem preventing them from their dream…they won’t do anything to achieve it. They want someone else to hand them their millions. They want to win the lottery.

      Let me tell you, if you were to invest your money instead of giving it to the lottery your odds of becoming a millionaire are probably greater. I know people who became millionaires in real estate in under 5 years (probably not typical), but I don’t know many who have become millionaires via the lottery.

      If there is one thing I’ve learned, there is no easy way to make money, but that doesn’t mean that all methods of making money are hard. Even real estate investing isn’t easy, but if you treat it like work, it isn’t hard and the payout can be much greater than any job I know of…unless you’re a CEO of some major US company who gets bonuses no matter how bad the company does…

      If it is so easy, why isn’t everyone doing it?

      There are two reasons everyone isn’t getting rich in real estate. The first is they don’t even get started. The second reason is they aren’t treating it like a business. They are gambling. You have to treat it like a business, keep the emotions out of it. Let’s teach you to invest and make money, increase your net worth, and not gamble.

      What I’m going to show you in this book is not a Get Rich Quick scheme. I’m going to show you a conservative way to increase your net worth, a method that hasn’t failed me in all the years that I’ve employed it. In good markets and bad, I can honestly say I’ve never regretted getting into real estate.

      Chapter 1 – Why Invest in Real Estate?

      Now, if you’re anything like me, all you’ve heard about is the horror stories about real estate investing gone wrong. Either that, or you’ve dreamed about getting involved for years, but just can’t be bothered, even though you’ve seen others get rich around you.

      You may think that you’ve missed the boat or just dodged a bullet. After all, we just went through an incredible rise in property values over the last few years, followed of course by the mighty crash….

      Okay, confession time. I don’t just invest in real estate. I’m actually really diversified. I own companies, I own stocks and bonds, I now have written a book that I sell, but I have invested in real estate for years. Out of all my investments, in my opinion, real estate gives the highest Return On Investment with the least amount of work or risk.

      These are the main reasons I invest in real estate:

      1) Leverage

      2) Return On Investment

      3) Appreciation/Depreciation

      4) Inflation Protection

      5) Security

      6) Training Wheels

      7) Insurance

      8) Cash flow

      Here’s an expansion on my thoughts for each topic.

      1) Leverage

      When you buy stocks, bonds, or stuff, you are expected to pay full price (unless you buy on margin, but that’s a different book). So, for every dollar of stock, you need a real dollar of your own money. With real estate, you can borrow money to buy a property (usually anywhere from 50-100% of the money) so for every dollar worth of house you buy, you need between no money and fifty cents.

      2) Return On Investment (ROI)

      Return on investment is the profit (expressed as a percentage) you make on the amount of money you invest. To explain the concept, I’m going to give a stock vs. real estate example. I’m going to leave out a bunch of things (like commissions, interest, penalty fees, etc.) so as not to cloud the issue. Just remember that your actual profit would be lower in both cases due to extra costs, but it would be relatively minor in the overall numbers.

      If you bought $100,000 of stock, it would cost you $100,000 of your own money. If the price of the stock goes up 10% and you sold your stocks for $110,000 your Return On Investment is 10%. Your $100,000 made you $10,000 in profit.

      Now, if you bought a house for $100,000 and managed to qualify for a CMHC mortgage where you only needed a 5% deposit, you need $5,000 of your own money (and you borrow $95,000 in a mortgage) to buy the house (this is an example of leverage). If that same house rose in value to $110,000 and you sold, you have to pay the bank the $95,000 mortgage leaving you a $10,000 profit on your investment of $5,000. Your Return On Investment is 200%. Your $5,000 investment (remember you borrowed

      the rest, it wasn’t yours) made you the same $10,000 profit. Imagine how much money you could have made buying 20 houses at $5,000 instead of pouring it all into stocks?

      Leverage and Return On Investment are important factors to remember when looking at other sources of investing. If the stock market goes up 10% a year, your ROI is 10%. If the real estate market goes up only 2% and you are 95% leveraged your ROI is 40%. If you are able to borrow all the money to buy a property, technically

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