We are back in the Trenches with Jeff Reed in this exciting renovation! This is a continuation from Episode #47. We are about a month into the project and the true bones of the house are exposed. Wow! What an exciting renovation this will be! This is a great “before” video that will be a great video to watch again when this project is complete. Witness first hand the challenges that Jeff is facing with this house…this is definitely not going to be an easy renovation.
Archives for November 2011
TRUE STORY…An owner tries to sell their house on their own to save on Realtor commission fees. They listed the property below market value to create a bidding war. When they received multiple offers they couldn’t handle the situation because apparently they didn’t want to “over complicate things” and therefore refused to look at all the offers and decided to look at only 2 random offers. They finally accepted one of them which ended up being less than what they listed their house for. In other words, they sold for well below market value.
By trying to save a buck, they actually lost tens of thousands of dollars by not hiring a professional Real Estate Agent to handle it and get the biggest bang for your dollar. WOW! The buyer really scored here! A big and expensive lesson to this Seller!
Another investment strategy is introduced in The Toronto Beaches – High End Furnished Executive Rental Suites. If done correctly, your monthly cash flow can drastically increase!! Through buying in the “right” location, renovating to certain standards, and furnishing the suite to accommodate the limited but willing to pay executive tenant profiles, you can make a great Return On Your Investment (ROI). In this property, Jerry Greer (the property owner) is undergoing the beginning stages of renovating this apartment so he can convert it into a high end furnished rental suite. This video blog shows the “Before” stages. We look forward to seeing the “After” stages of this property in a few short weeks.
Every professional athlete has a coach. Every professional singer has a vocal coach. If you can think of any high intensity profession I am certain they have a coach or a mentor. Even the best of the best have coaches. These key people in our lives guide us on our path to personal success. Most real estate investors DO NOT have a clear “WHY” they are investing in real estate. Money and Freedom are NOT big enough reasons. Especially when they respond with “Because I want to be rich” or “Because I want to quit my job”. There is more to it than just that. There is an underlying reason to this and I want you to think about it after watching this video with Joey Ragona from The Engaged Investor. Let’s be honest for a minute here…without a strong enough emotional reason to move forward, you will lack commitment. If you really think about it, EVERYONE wants to be wealthy, but most are not willing to do whatever it takes to become it.
Visit Joey Ragona’s website at: www.EngagedInvestor.ca