January 2007

Annual Financial Check Up

This morning I’m going to follow Jeff Brown’s lead and encourage all of my clients, friends, family and readers to take an honest look at their finances today.

What is your retirement plan? What lifestyle do you want to lead when you stop working? Can you afford to stop working at 60 or 65? Can you stop working at 35 (as two of my clients are planning to do) ?

Is what you’re doing now going to get you where you want to go? If not, then isn’t NOW a pretty good time to make some changes?

Sit down and look at how much cash you have on hand, how much equity is in your home (earning very very little, I should add), how much you have in your RRSP and unregistered savings.

Could you afford the downpayment on an investment property? Whether it’s a duplex (initial cash investment required: $0-$20,000) or a large apartment building (initial cash investment required: $100,000 +) you probably could.

What will your financial picture look like in 5 years if you took $250,000 and invested it in real estate? See this post for a quick answer. For those of you withouth $250,000 burning a hole in your low interest bank account, don’t fret: the potential to accelerate your equity through leverage is inherent in every real estate investment, not just when you’re starting out with 250K. I have clients who have bought their first investment properties in Kitchener Waterloo (duplex, triplex of fourplex) with zero down, and have done very well with that.

Do you have a Financial Future Focus of where you want to go? If not, invest a few hours of your afternoon today and let yourself see where you could be in 3, 5, and 10 years if you started execuiting your investment plan.

I would love to help you develop your Financial Future Focus and start executing a purposefully desigend investment plan. Call or email me, and we can set up a meeting at your leisure. DON’T FORGET – You can still register to attend Invest & Grow Rich, taking place on Tuesday February 13th. Information on this event is here.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Invest & Grow Rich v3

My next educational extravaganza, Invest & Grow Rich: The Millionaire Real Estate Investor Workshop, is taking place next month, Tuesday February 13, 7-8:30pm at my offices at 871 Victoria St N, Kitchener.

 

One of my goals is to help people be wealthy, whether spiritually, emotionally, or financially. These workshops are the best way I can do that. By providing proven models for wealth building from Gary Keller’s best selling Millionaire Real Estate Investor’ to dozens of people at a time, I can transform hundreds of lives a year through education. I think that’s pretty cool.

Come out to the Seminar. You’ll be glad you did! Admission is free if you register in advance (email me with the subject ‘Invest & Grow Rich’).

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Hire a business coach!

Most entrepreneurs never reach their full potential because they’ve come to the conclusion that they are the authority on pretty much every topic. They built their business up themselves, and they won’t take advice or help from anyone. They loath to even delegate menial tasks to associates. Their ego dictates that they be independent, rather than interdependent.

Being interdependent means that you realize that there are other people who excel in areas you may not (wealth building consultant, marketing director, secretary, accountant etc) and reaching out to them. Building a team that consists of individuals with common values and different skills is the best way to build a business. When you have people who can do the tasks you don’t enjoy (or aren’t profitable enough for you to do) you can spend all of your time doing what you do best – finding new clients, working on your business (instead of in your business) and closing deals.

A business achievement coach must be an integral member of your team. The most successful people in every field have coaches – why shouldn’t you? A coach can guide you on your journey to attracting success, and can help you turn stumbling blocks into stepping stones.

If you own a business, hiring a coaching company (although they do much more than that) will improve your profit while making you more efficient and letting you do more with less. They will tell you what systems you need to implement to make a quantum leap, and they will work with you to make sure you accomplish your goals.

Within a few days of my Real Estate licence coming in (I’m a licenced Realtor in the province of Ontario) I signed up to be coached by Richard Robbins International. Together with my coach, I have developed a detailed business plan, and I am held accountable to my goals and tasks by him.

While most Realtors spend their first year calling up and down streets, sitting at open houses for other agents, and running around without any income, I listed in excess of $5 million worth of property, including a 250 acre farm, and an apartment building. I have an assistant, a large network of friends and contacts, marketing systems in place to generate new leads, and I’m looking to take on a full time administrative specialist and expand the Benjamin Bach & Associates team further with the addition of an investment property buyer’s agent. Not too shabby right?

I’ve heard that only 2% of the population can work as if someone is watching them when no one is. If you don’t happen to be in that thin slice of the population, getting a coach for your business may be the best decision you’ve made yet.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Think and Grow Rich

Think and Grow Rich is the most powerful book I have read. I find myself reading bits of it all the time, and I have a CD version of it in my car. Not bad for a book written in 1937 by some dude names Napolean. What makes this book so special? Why do more wealthy people attribute their success to the principles described in this book than any other? Why is it re-read annually by leaders everywhere?

Because it works. Inspired by Andrew Carnegie’s magic formula for success, Think and Grow Rich is the result of interviews Napolean Hill conducted with the 504 wealthiest, most successful men in America over a 22 year span From studying the wealthiest and most successful people in America, Hill developed 13 principles for the attainment of wealth and riches. Carnegie asked him to develop an economic philosophy, and Hill did just that.

The premise of the book is that what the mind can conceive it can achieve:

“Desire truly is the starting point of all achievement. To achieve any goal in life, first you must want it so much so that you can practically taste it.

Choose a definite goal and place all your energy, all your willpower and all your effort to the achievement of that goal. Leave yourself no way of retreat. Think to yourself that you have to win, or perish in the attempt. Only by doing so will you attain a burning desire to win and that is essential for success at anything.

Wishing alone will not bring riches. You must desire riches with a state of mind that becomes an obsession. You must then plan definite ways and means to acquire riches, and back those plans with persistence. Lastly, you should not recognize the possibility of failure.”

Set goals. Believe you can do it. Don’t consider failing. I know you’ll get there.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

Subscribe to Benjamin Bach’s KW Market Watch by Email

Subscribe to Benjamin Bach’s KW Market Watch by Email

GigiOM shows why he’s the best

This made my night

**update** Episode 1 was stellar. It made me smile; it made me cry. It made me wake Sarah up at 3AM to tell her this is the best season so far. She told me to tell her in the morning.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

Subscribe to Benjamin Bach’s KW Market Watch by Email

How to get a 32% annualized return on your money

I am one of the few people in this world who loves what I do. I spend all of my time (well, most of it) with smart successful people who are serious about their future (i.e. investors), and I get to help them build their wealth and ensure they live comfortably their whole life. Not bad, eh?

I was crunching some numbers tonight for a new client of mine who is looking to invest about a quarter million dollars into multi family properties and small apartment buildings here in Kitchener Waterloo, Ontario, Canada. Their goal is to build their equity for retirement, rather than generate a steady growing cash flow (to supplement or replace income).

This is an important distinction, because the strategy when investing for cash flow is different from the strategy when you’re investing for equity appreciation. The two are completely different, and require different properties, financing, and often even different markets!

I want to share two sets of numbers with you, relating to how quickly you can build your wealth when you’re going for equity appreciation. In scenario 1, the client is buying $2.5 million in property, with 10% down ($250,000). In scenario 2, a more conservative 25% downpayment is used to buy $1,000,000 in property.

CLICK LINK FOR FIGURES (a new window will open)

At the end of 5 years, scenario 1 has built the client’s equity from $250,000 to $650,840; scenario 2 grew the client’s equity from $250,000 to $401,225. Not too shabby!

The real magic in real estate investment comes from when you leverage that $650,840 into $6 million worth of property (or turn the $400K into $2 million in property) and repeat the whole growth process again. Nice way to build a GREAT retirement!

If you’re interested in how you can start building your wealth, give me a call. Even if you don’t have $250,000 to start with, you can start building your real estate investment portfolio today!

 

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

Subscribe to Benjamin Bach’s KW Market Watch by Email