Invest Kamloops Newsletter | Feb 26, 2015 | Vol 2 | Issue 6
This was a productive week for me, I hope you had a good week too! Here is what I’ve been up to this week:
– distributed some of my fliers(I biked 60km last week and am loving the early spring!)
– got a response to my fliers and am viewed a potential private sale
– 2 accepted offers with subject removal March 6th, YAY!
– lots of showings for my 2 basements coming vacant next month
– prep work for 2 speaking engagements this week: I have a booth to set up too
I hope you had a great week too. Here is this week’s newsletter:
- Taxes are around the corner!
- Economic fundamentals YTD
- Invest Kamloops TV – sizzle VS steak
- Deal of the week
TAX FILING AROUND THE CORNER
I just read what is new for 2014 tax year thanks to Jacks on Tax in a recent Moneysense article:
– NEW Family Tax cut is up to $50k income splitting for couples
– tax credit for medical travel is now at a KM rate, no longer has to exceed 3% income to claim(my understanding, I might be wrong)
– donations get a boosted credit up to 25% more
– OAS has been reduced for people earning $71,592 or more
– Pension income splitting is the same but you can’t have it AND the new family tax cut, you must choose one.
Interesting stuff? Hardly – until the extra money you get for knowing the rules hits your jeans! Better yet is to pay someone to know the rules for you – and still get the extra cash 🙂
The rest of this article is a refresh of last year’s “7 Tax Tips for Real Estate Investors.” (If you want to get your specific tax questions answered, I am inviting you to attend next week’s Kamloops RE club meeting, we have an accountant as a guest speaker and it will very informative – look for the invitation email later this weekend). Enjoy!
Although taxes are not due for almost 2 months, completing tax returns before the deadline is top of mind for me and many other real estate investors.
We recently completed most of our tax work needed, and sent if off to our accountant. I’m only waiting on a T4 slip from my employer.
It has been a learning curve to get to this point, and here are some tips I have used along the way that make tax time much easier:
2015 ECONOMIC FUNDAMENTALS: YEAR TO DATE
Some new is boring to many people – who cares what the city is spending on road maintenance?
Not me! At least not directly… What I am interested in is what the local financial & economic news means to my situation. For instance if that road maintenance makes life easier for commuters, perhaps an area is more desirable to live and I can pickup deals in that area before prices rise.
Deals fund my desired life, and they can for you too! To find clues on living your life on your terms…
INVEST KAMLOOPS TV – Sizzle vs Steak
Here is a sneak peak at part of the booth/presentation I will be giving on Saturday at the Landrush event.
I just have been informed at two of my guests have cancelled, so if you want these tickets valued at$100ea, email me back! Full details of the Landrush conference are here:http://landrushcanada.com/
For the whole thing, please make sure you attend!
DO YOU NEED REAL ESTATE ADVICE?
“When you get too busy, raise your prices.” – This is a lesson I just in time from a mentor of mine, and it undoubtedly saved my sanity. That’s why I am not offering 1 on 1 coaching anymore unless to very qualified clients.
– seeking a good real estate investment?
– struggling with a nightmare tenant?
– thinking about selling?
If you have a real estate problem, advice from a third party can be invaluable. I have a solid consulting track record and have dealt with private sales, multiple offers, negotiations, evictions, filling vacancies, and every tenant situation imaginable. Since my personal services are in very high demand, consulting rates are $150 for a laser focused 15 minute in person or phone session, to a maximum of four consecutive sessions.
Book a FREE, no obligation, 15 minute phone call with me to learn if we can work well together. Call 1.888.532.7660 or email firstname.lastname@example.org.*
*When requesting a phone call, please provide as much information as possible. A detailed summary with the complete circumstances will ensure I can best help you quickly.
DEAL OF THE WEEK
This week’s deal is a great investment! A private sale of a fabulous unit in a complex I already own in, and I am on strata council. Here are the numbers:
To get full pro forma with the address and detailed numbers, you must either be on my investors list by clicking here, or be a paid subscriber.
You can see what a full proforma looks like by clicking here: 724 Battle Street.
There are simply too many good deals in Kamloops for me to capitalize on all of them(for now). As result, I will be publishing my proforma reports and the plans I would carry out on these properties to produce the double digit returns I talk about on this website.
Since I am doing deal analysis on an ongoing basis anyway, I may as well help you when searching for your next property in Kamloops.
The value of these analysis?
Well, if I could purchase them all, each one could be worth $750/mo(the REAL cashflow of my most recent deal). Since I cannot at the moment purchase them all, you can have them for $7 each.
Why only seven dollars when I spend at least two hours per week on my initial due diligence? Because I want to make sure the opportunities I find benefit you, my loyal readers. If you can make money with a property I find, that makes me happy.
If you would like to access to the password protected site area “Deal of the Week”, PLEASE SUBSCRIBE.
INVEST KAMLOOPS INTERVIEW SERIES
The Invest Kamloops monthly interview series features successful business owners and investors who are benefiting from the Kamloops economy. You will learn the secrets to their success, and specific strategies to implement.
Whether you are just starting out, or have been investing for a while, the stories here will inform and inspire.
Please sample the October 2014 Mastermind call from a successful REAG member with a deep well of experience. It was a pleasure to interview this gentleman: Mel Johnson Interview
Sam Perren is a Real Estate Investment Advisor, Family Man, Published Author, and works as a Police Officer. Sam has purchased over 2 Million dollars in residential real estate, and is a member of mastermind networks with members who have purchased over $5B of real estate. Sam’s two years of university at UBCO, a carpentry apprenticeship, and more than seven years law enforcement make him at expert in tenant relations. Sam successfully completed the Canadian Securities Course, a credential required for all financial advisers.
Sam is growing his portfolio using the S.A.F.E. principles he developed, and has been creating double digit returns using Real Estate since to the delight of his partners since 2009. Sam is seeking more investment partners, however opportunities to work with Sam are limited, and interested parties are required to apply here.
Minimum capital required to work with Sam is $150,000 unless you wish to buy part of an existing deal. One for sale now starts at $40,000. Your ability to qualify for mortgages would also be an asset. Your investment may be RRSP eligible. Cashflow ranges from 5-10% ROI on each deal, once you get all your money back we split profits.
To learn more about the S.A.F.E. business model, and see opportunities available right now, click here.
Sam lives and invests in Kamloops BC, and can be reached at 1.888.532.7660 or email@example.com.