We respect your emai

You Only Fail If You Quit

May 14th, 2012

I read an inspiring blog post this week that really made me stop and think about not only how far I’ve been fortunate enough to have come, but also the fate of some others you may have heard of. Others who have had a dream and decided that they were never ever giving up, no matter what.

For example,we’ve all heard of those books “Chicken Soup for the Soul” right?  Did you know that the authors, Jack Canfield and Mark Victor Hansen, brought their book to publisher after publisher, and received 134 rejections?  Obviously it was picked up, and has since become one of the most published and sought after book series in history!  Or, how about Walt Disney who “as a young man, Walt Disney was fired from the Kansas City Star Newspaper because his boss thought he lacked creativity.”  I think we all know how that one ended!

One more example: Michael Jordan — “Most people wouldn’t believe that a man often lauded as the best basketball player of all time was actually cut from his high school basketball team. Luckily, Jordan didn’t let this setback stop him from playing the game and he has stated, “I have missed more than 9,000 shots in my career. I have lost almost 300 games. On 26 occasions I have been entrusted to take the game winning shot, and I missed. I have failed over and over and over again in my life. And that is why I succeed.”

Investing in Real Estate is no different. You can fail, but only if you quit!  We began back in 2004 after experiencing that investing in real estate was more lucrative than mutual funds and equities.  “… it became clear that if I just continued doing the same thing that I was doing I was still going to be stuck in the position I had been in, which is lack of time and the chance to spend time with my family“. — Michael Ponte

Since then we have built a life around investing and building success for others as well as ourselves!  It is the most rewarding of careers!

If you would like to STOP having that fear of failure and Go For It with a proven system, come check out our next seminar “Prosper for Life” on Wednesday, May 29th. You can see the full details here. You must register to attend this FREE event, and you can do so by emailing info@prosperityinvestments.ca or calling our office at 604-882-6901.

Michael Ponte

Michael Ponte, President & Founder

Prosperity Real Estate Investments

Phone: 604-882-6901


Not Sure Where to Start? Real Estate Investing Definitions!

April 14th, 2012

Just for you, we found this GREAT list of definitions and terms that are commonly used in our world of Real Estate investing!  You can see the entire list by clicking here but we wanted to give you a preview:

REI Investing for Dummies

Of course, WE’RE not “dummies” when it comes to this stuff, so if this list brings about questions for you, why not just give us a call!  We’d be happy to help you get started in investing in real estate!

Sincerely,

Michael Ponte

Michael Ponte, President & Founder

Prosperity Real Estate Investments

Phone: 604-882-6901


Five Common Mistakes that Beginning Real Estate Investors Make

March 27th, 2012

Blog post 3 27 2012

Beginning investors today have so many more advantages available to them then investors in the past. With the internet, blog posts, books, seminars and coaching programs it surprising that less than 1% actually invest in real estate. For new investors looking to get started, your timing really couldn’t be better with so much supporting material available it not the lack of information that hold people back but the amount of information out there.

This vast sea of information can be overwhelming and it in some cases can be difficult for someone new to avoid some of the misinformation that is out there touted as fact. This post is for all new investors looking to get started in real estate investing and to help you avoid making the most common mistakes by investor.

Here are some common mistakes that beginning new investors make:

1) Not having defined investment goals.

One should carefully consider what they are looking for out of any investment. One reason is because there are a number of ways to invest in real estate and choosing how you invest is made easier by knowing what you hope to get out of investing.

Real estate investing can provide several income options; creating future retirement funds, generate cash flow, large immediate payouts and long term equity growth. The advantage with real estate investing is it can also be very passive and active depending on your investing objectives.

Knowing what you want out of investing will improve your chances of success because you are more likely to purchase properties that can meet your investment needs and avoid investment factors that mean little in meeting your goals.

2) Looking only at the numbers.

There is much more to investing than the numbers. Location of the property is probably one of the most obvious, but is not as clear cut as just picking a province, state, city or neighbourhood. Two homes can be side by side and one can still be better located due to proximity of corner, neighbouring commercial space, environmental concerns of a neighbouring property, etc.

Other factors to consider – zoning, soil conditions, age of the improvements, demographics of the area, vacancy rates, police reports, building violations, wetlands, flood zone, etc. This is but a few of the non-numeric issues that should be considered when doing your due diligence on a property.

3) Jumping into markets without understanding them.

There is a lot of appeal to jump into markets that offer large cash flows on small investments. If you know and understand what is going on in the market these can be great places to invest. The problem is when you don’t know what is driving real estate values in a market. Market prices can seem like tremendous values as an outsider looking in but in reality be overpriced for the area.

It is very important to understand the real estate market where you plan to invest. Is the population growing? Are new jobs being created? What’s the unemployment rate? Is the area over or under built? What is the political environment? What are the schools like? These are but a few questions to consider. There are many more.

4) Being afraid to make a mistake – and doing nothing.

At some point an investor must take the leap of faith. You do your best to learn your market and understand what makes a property a sound investment. Often it is best to start with smaller investments to minimize the initial risk.

Being conservative is a good attribute to possess, however if you are too conservative, then you run the risk of being one of those people who don’t do anything at all. Even when opportunity knocks man still has to get up and answer the door.

5) Taking advice from unqualified people.

You wouldn’t take medical advice from someone who watches ‘Greys Anatomy’ or ‘All Saints’ – you demand a trusted medical professional,” Nagel says. So why would you take property advice from someone who hasn’t built a successful portfolio themselves?

There is a lot to know in the real estate world and it helps considerably to find good connections that can help support you in your investment journey. Look for people that have plenty of experience in real estate investing that can provide you with the right advice and contacts to help guide you through the property purchase process.

Sincerely,

Michael Ponte

Michael Ponte, President & Founder

Prosperity Real Estate Investments

Phone: 604-882-6901