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Investors Making Dire Mistakes

March 25, 2006

“Real Estate Investors Are Making Dire Mistakes and Assumptions” - Don R. Campbell
97 Tips for Canadian Real Estate Investors
Written by Don Campbell
With Russell Westcott, Peter Kinch, & Barry McGuire

Real estate as an investment is the topic of choice among Canadians today.  Is it at it’s peak, will the ‘bubble’ burst, everyone seems to have an opinion on what’s going to happen next.  However, most of these opinions are based on opinions and conjecture not real economic fundamentals… and this misinformation can lead to investors making dire investment mistakes.

Whether you are a beginning investor or own a portfolio of residential units, 97 Tips for Canadian Real Estate Investors (Wiley / March 2006 / $26.99) provides insights and strategies to help you build wealth with real estate, while eliminating opinions and guessing by focusing on what is really occurring in the marketplace.

From understanding the principles and economics of investing in terms understandable by anyone, to sourcing properties that have a future (not a past) to how to get them financed while saving thousands of dollars in the process: 97 Tips for Canadian Real Estate Investors covers what investors need to know.

Features include:

  • Mortgage and financing strategies
  • Making your investment system work in today’s market
  • How to analyze whether your town’s real estate market has a future
  • Legal and tax insights designed to save investors and homeowners cash on each property
  • Red flags that all property buyers need to watch out for
  • How to avoid scams in a hot real estate market
  • How to ensure you are being a pro-active landlord

Topics covered:

  • Assessing whether real estate investment is right for you
  • Analyzing a city, town and neighbourhood
  • Analyzing a property
  • Negotiating mortgages and financing
  • How to get your offer accepted in a hot seller’s market
  • Legal tales from the trenches
  • Landlording strategies designed to create a winning relationship with your tenant

About the authors:

Don Campbell is a Canadian-based real estate investor, author and consultant. He is the president of Canada’s Real Estate Investment Network™ (REIN™) and the author of the bestselling book Real Estate Investing in Canada.

Peter Kinch is a national mortgage expert.

Barry McGuire is a veteran legal expert who’s whole focus is on real estate.

Russell Westcott is a creative buying and landlording expert.

11 Tips for Successful Real Estate Investing
from 97 Tips for Canadian Real Estate Investors

  1. Adopt a proven system – it’s the difference between long-term wealth and long-term frustration.
  2. Remember: economic fundamentals, not emotions!
  3. Ignore conventional wisdom in order to be a successful investor and landlord
  4. Patience is an investment virtue…get rich quick = get poor quick!
  5. Choose your purchase date carefully –saves you time, frustration and money
  6. Learn the 1.1 rule for mortgage financing negotiations
  7. Never put fixed dates in your offer to purchase contract, or you may be liable for more than you bargained for.
  8. Never advertise – always market!
  9. The journey to real estate success is not a straight line. Be prepared for ups and downs: discover when to hang on and when to cut your losses.
  10. Keep your perspective when interest rates shift. If the interest on a $100,000 mortgage increases from 5.0% to 5.25%, that’s a difference of $17 per month. If this $17 a month turns your investment into a money-losing deal, it was a bad deal to begin with.
  11. Surround the boom for best results. It’s not always a great idea to invest right in the boom area, as the best deals may have disappeared. However, the “boom effect” will have a major impact on surrounding area’s real estate.

For more information on 97 Tips for Canadian Real Estate Investors, or to book an interview with any of the authors, please contact Melanie Tenant at 604-856-2825 or melanie@reincanada.com


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