Buying a Business

Buying a business is another way of creating a residual income stream. For our next seminar, we are absolutely thrilled to welcome guest speaker Greg Kells, the President of Sunbelt Business Brokers Inc. Mr. Kells will be giving a special presentation for our group about buying a business and turning that business into a cash machine.

Our next meeting date: Sunday, December 13, 2009 from 3-4pm
Location: Sunbelt Ottawa, 2821 Riverside Drive

Space is limited so please RSVP by email.

Mr. Kells' bio:
Greg Kells, Mergers and Acquisitions Master Intermediary, Certified Business Intermediary, Life Member Institute of Business Appraisers, Certified Machinery and Equipment Appraiser, Certified Senior Business Analyst, Licensed Business/Real Estate Broker, is President of Sunbelt Business Brokers Inc. (Canada). His focus on Sunbelt's development has made Sunbelt the premiere business brokerage in Canada. Greg Kells is an international entrepreneur with extensive business development, marketing, and management experience. Mr. Kells started the Canadian operations of Sunbelt Business Brokers in 2002 and in addition to opening 27 offices in Canada he is developing business brokerage in 10 other countries. Mr. Kells has served as president/chairman of companies in various industries including the hi-tech industry, manufacturing, business consulting, training, tourism, real estate development, business appraisal, television production and laboratories. Greg is very much a hands on CEO and his skills and experience are a significant asset to clients. He has been a guest lecturer at Harvard, Yale, and Duke Universities as well as at numerous Canadian Colleges. He enjoys mentoring and is involved in teaching at Sunbelt and for the International Business Brokers Association. Greg is the supportive husband to contemporary artist Gayle Kells and is the proud father of three children. He is involved in his community on various levels including being the Chair of the Canadian Institute of Nature and the founding Chair of the Canadian Institute for Conflict Resolution. He has been a candidate for leadership of Ontario and is active in numerous community organizations.

Monetizing Blog Posts

Monetizing blog posts is really easy with Blogger. I figured if I was going to teach making residual income, then obviously I needed to do this ASAP :) It took about three clicks... I was reading a fantastic article about monetizing blogs. John Chow doesn't have to go to work anymore and how about 100 days of holidays a year? That's something to REALLY think about and emulate! So as you go about your blogging, remember to monetize your blogs!

Advertising Sites for Ottawa Rentals

Advertising for Ottawa Real Estate Rentals can be done through several sites:

FREE

Kijiji - www.kijiji.ca
Craigslist - www.craigslist.org
Ottawa Rentals - www.ottawa-rentals.com
Home Trader - www.homeTRADER.ca

$$$

The Hill Times - www.thehilltimes.ca (Thanks for the suggestion Christiane!)
The Ottawa Citizen - www.ottawacitizen.com

Ottawa Meeting Reminder for Passive Real Estate Income

Join our discussion on making passive real estate income tomorrow, Sunday, October 18, 2009 from 3-4pm! If you are new to this group or wish to join, please email me and I'll give you the coordinates of the meeting. Asokan Thurairajah, Realtor with Keller Williams Ottawa Realty will be our special speaker. See you there!

Real Estate Residual Income

Real estate residual income was the first kind of residual income that I wanted to really focus on personally. I've looked into it in the past very seriously, and honestly, I had been stuck at the stage of analysis - AKA "analysis paralysis". Asokan and I decided once and for all, to simply start putting in more offers. After several weeks of putting in offers and learning a whole lot in the process, we finally bought our first duplex. By first analyzing the numbers, we discovered that the property generated residual income or "positive cash flow" if rented at current market rents. We then put in an offer, which was negotiated and eventually accepted. After the offer was accepted, we inspected the property and got the official go ahead from our mortgage broker.

When I'm talking about creating residual income through real estate, I'm talking about buying real estate that has a positive cash flow. The rent that is paid to you by your tenants will pay you in two ways: 1) The reduction of principal on your mortgage, 2) Cash flow (the money that's left over after paying all of your expenses). You also can make money through the appreciation of your real estate. The main thing though is to ensure that the property generates positive cash flow...

To find out how to figure out if real estate will provide you with residual income or not, check out Don Campbell's book "Real Estate Investing in Canada" and his website which are devoted to creating real estate residual income.

Bob Proctor in Ottawa

Bob Proctor was here in Ottawa last Tuesday and it was an amazing event! Asokan and I went to the event with our 2 month old baby, Sivani.

There were a number of things we got out of Bob Proctor's speech in Ottawa - we were talking about it on the way home and I wanted to share with you all.

The first thing being that if you want to be successful, you have to change the way that you think. I know Asokan and I used to think it was that one special business or a special investment that makes you rich. But, we found out that it’s that special YOU that makes the difference. After taking so many Bob Proctor courses in Ottawa, it's finally really hit home. Working on ourselves has been incredibly profitable for us and for others who have taken the time to continuously learn and improve themselves.

The second thing is the power of guerrilla marketing. We were there officially for the Ottawa book launch of Peggy McColl for her new book "The Won Thing". Bob Proctor was there to endorse her book for free. Now why would Bob Proctor do that for free? Partly because Peggy McColl had already sent out the invitations listing him as the keynote speaker before he even agreed. Also, because he had an hour to teach and promote his own related products to a rapt audience. Now because Peggy McColl had used Bob Proctor as a keynote speaker, the place was jam-packed with excited people and she in turn sold more books and created more hype. It taught me a lot about cross-selling products and that you can offer more to your own customers by simply giving them free items of value. Free items of value that you can get from other businesses that are interested in providing a product or service to your customers.

I was very happy to go see Bob Proctor in Ottawa - for free!

Ottawa Multiunit Investments

Ottawa multiunit investments are hot! Asokan and I have been looking like crazy for multiunits in Ottawa. We've been putting in offers on all properties that make sense, sometimes even before seeing them! Since it's one of the best times to invest, it's not just us that are looking. Multiunits (that have been correctly priced) have been going almost as soon as their listing is hot off the MLS press. This has been a little frustrating because we find ourselves in a multiple offer situation for all of the investment properties, but heck, it sure is fun to be in the game!

It's been interesting also to see what kind of people are looking at these multiunits. From what we've seen, they're savvy young people, sometimes with their contractor tagging along, sometimes even with their baby tagging along - and I'm not talking just about us!

If you want to be in the know, contact Asokan to find out how you can be prepared for Multiunit Investments in Ottawa. From all the traffic, it seems like we're not the only ones that know that this is a fantastic time, due to the low mortgage rates, to buy Ottawa multiunit investments.

Our first meeting!

Hello all,

Today was a great get-together of like minded ladies. We decided to open up the floor to our spouses and other guys (as long as they stay on topic). We discussed an overview of some of the topics we'll be covering in the coming months - internet marketing will be one of the subjects to be added. "The e code" by Vitale and Mok was brought to our attention and may be useful for that topic. I'll review it and let you know.

During the next meeting we will cover real estate investing. We will be welcoming Asokan Thurairajah, a Realtor with Keller Williams Ottawa Realty to be presenting an overview of real estate investing including residential as well as commercial real estate.

To prepare for this meeting, I suggest reading Kiosaki's "Rich Dad Poor Dad" and Campbell's "Real Estate Investing in Canada".

For those who have questions about how much they can afford for a mortgage and the specifics of downpayments and mortgage rates for investment properties, you can call a mortgage broker and they would be able to best answer your questions.

HYIP game rules saved the day

I'm glad I followed a set of rules when investing in a number of HYIPs recently. I'll post them here for any of you to comment on.

My rules for HYIP investing is that I consider all of them to be a scam that last an average of 6 months - although I need to prove this number statistically still - I'm just going by what some other HYIP monitor said on his website.

I take all profits out until the investment becomes risk-free. In other words, before compounding or re-investing, I take out, over time, a total sum equivalent to the initial investment. Any profits after that become divided. I take out a portion for my spending income and I reinvest a portion back into a HYIP.

I had invested in three HYIPs over the last few months, GoldNugget, Novalex and Asian Invest Group. It seems as though Novalex and Asian Invest Group are heading into the bust category... According to MONEYnews (http://money-news-online.com/monitoring.html), Novalex is not paying out. Even though it reports Asian Invest Group as still paying, the site is down and has been down for a number of days. Gold Nugget is however up again after a few days of problems. Yesterday all three sites were down and I thought all the money working in them had gone poof in one day! So one in three programs still alive seems like good news today.

Any other thoughts from you all?

Preliminary Itenerary for the First 5 Months

Here are some ideas that I had about the itinerary for the first number of months. Please feel free to add your suggestions by commenting on the post.

Month 1:

Introduction:

Financial reasons as to why would an investor focus on creating multiple income streams versus just one or a couple investments (as an introduction to the whole topic of creating multiple streams of residual income)

Topic of Discussion:

HYIPs (High Yield Investment Programs).

-Strategies, monitoring sites and common sense... We'll talk about one of the fastest and riskiest ways of making money and using our heads!

Recommended reading this month: Loral Langemeier "Cash Machine for Life".

Month 2:

Topic of Discussion:

Starting a Business from Scratch (using our new knowledge from the book!)

Recommended reading this month: Robert Kiosaki's "Rich Dad, Poor Dad"

Month 3:

Topic of Discussion:

Buying a Business

-Traditional and changing it into a cash machine - Business Brokers (I'll ask to get a guest speaker hopefully for this one)

-How to do due diligence

Recommended reading this month: Don Campbell "Real Estate Investor"

Month 4:

Topic of Discussion:

Buying a Franchise

-MLM's - We can talk about some of the common ones such as Primerica, ICF, Amway ect. and discuss advantages and disadvantages.

-Traditional Franchises

Recommended reading this month: Timothy Ferris “4 Hour Workweek”

Month 5:

Real Estate Investments

-Why do real estate investments as a cash flow perspective?

-Commercial, Residential purchases

-How to do due diligence

-I'll bring in a realtor to talk about using a realtor, differences between commercial and residential investments and doing due diligence.

Recommended reading this month: "The Magic of Thinking Big"

Introduction to the Club

Why did I organize this?

After searching for a long time, I discovered that I was most excited and happy talking to others (especially my husband) about making money. Specifically, making residual income from multiple streams. I enjoy sharing my knowledge and learning from others about making residual sources of income.

I had previously happily talked to any body with a temperature hovering around 37 degrees C, but as you can imagine, some are ready for the discussion and are ready to contribute, and some are not, which leads to the next section...

Are there any pre-requisites to attend the club?

I strongly recommend that all members have completed or are currently attending Bob Proctor's Goal Achiever and Winner's image courses. If you haven't completed these courses, you can attend an introductory seminar that will allow you to learn more about the courses and concepts involved. This course is offered by "Keys to the Universe", an Ottawa based company, which is run by Bob Proctor certified consultants.

We will be talking about the "How to" of making money. These meetings will not be effective if you are searching for the "Why" of money. The above courses will cover the "Why" and all other aspects of your life and get you prepared for the "How to".

The purpose of this club

The purpose for this club is to create a master mind group to learn and share knowledge and experience about making multiple residual income streams.