Happy New Year everyone! I hope that this coming year is a happy and
successful one for each of you.
Unearned income! The key to wealth!
I recently came across an
interesting article written by Ozzie Jurock which I would like to paraphrase
and share with you. The article is
titled: Unearned income: The key to wealth. Essentially Ozzie’s advice is to create a plan to acquire unearned
income in order to generate more money to allow more personal freedom,
satisfaction and personal growth. He
states that most people dream of owing their own business so there will be more
time with families and friends and the pursuit of leisure activities. What ends up happening though is that people
who create new businesses at home actually end up working harder and longer
hours and don’t necessarily grow their wealth.
People become truly wealthy only when they don’t earn the money; they
become rich only when they start making their money make money. Ozzie insists that there is no better
business than real estate investing.
The key is to buy real
estate and have someone else pay it off.
Sound like a great idea? It is
but as with anything else, you need to have a plan.
In real estate investing,
ask yourself: Will I be a “shark” and
find foreclosures and no money down deals?
Will I be a “flipper” and benefit from the mistakes of others, or create
a plan of action that makes me $2,000, $5,000 or more every month in unearned
income sometime in the future?
Ozzie says to take all the
options into consideration but recommends the latter . Here are some key points:
*You don’t need any special education or credentials to get
started.
*You do not need much start-up money.
*You can learn the techniques quickly.
*You have a high income potential in a proven environment.
*It can be done part-time.
Ozzie also suggests that the
time to start is NOW. He favors
learning about the history of wealth creation and how to become an expert
negotiator. He says, “In life you don’t
get what you deserve, you get what you negotiate.” He maintains that you make the most money the day you buy the
property. And the time that you spend
in negotiation is the highest dollar per hour figure that you will ever earn.
Unearned income: The key to wealth: create a plan to get unearned income and start now.
Ozzie Jurock is a real estate guru from Vancouver and
is one of Canada’s leading business motivators.
Geoffrey
Scotton, Calgary Herald
Wednesday, January 15, 2003
Calgary's
already sizzling economy is going to get even hotter, says the Conference Board
of Canada.
The economic
think-tank said Tuesday that Calgary will record the top growth among major
Canadian cities this year and post the highest average growth over the next
four years.
The
nation-leading 4.9 per cent growth in output, or gross domestic product
expected in 2003, comes on the heels of 3.3 per cent growth in 2002, the
Conference Board said in its latest report.
The city is
expected to average 3.6 per cent growth through 2007.
"After
recording its lowest rate of increase in real GDP in four years in 2002,
Calgary will bounce back and be the national leader in real (inflation
adjusted) GDP growth in 2003 and over the medium term," said the
Conference Board's associate director, Mario Lefebvre.
Edmonton will
rank third in the country with a 3.8 per cent expansion, reflecting, in part, a
vibrant Alberta economy, which is expected to lead all provinces this year with
five per cent growth.
Calgarians will
experience Canada's highest urban economic expansion, "making it the
national leader in terms of output growth," the Conference Board said.
"This is
exciting news for Calgary," said Mayor David Bronconnier, who attributed
the outlook to a combination of the city's educated and flexible workforce and
aggressive business community.
Bronconnier
said Calgary is well on its way to becoming not just a regional Canadian
center, but a national one. "I am convinced that, over time, it will
become the leader in Canada, not just in the west."
The Conference
Board, an Ottawa-based, business-funded forecasting and analysis organization,
said much of Calgary's vibrancy is due to increased oil patch activity prompted
by extraordinarily strong oil and natural gas prices.
"Sizable
investments are scheduled for the province's energy sector and Calgary will be
a major beneficiary because of the downtown core's link to the oil and gas
sector," said the outlook.
The board
expects the spurt to push employment growth to 2.7 per cent and the average
unemployment rate for 2003 to 5.3 per cent from 5.9 per cent in 2002.
"The expected
growth in Calgary over the next few years is relatively strong, since its
economy is already running at full employment," the board said, suggesting
labor shortages, a big issue during 2000, could return.
Nonetheless,
Mark Norris, Alberta's minister of economic development, noted Alberta and
Calgary, in particular, have become destinations of choice for Canadians and
encouraged more to consider moving here.
"Regardless
of your skill set, you'll find employment, there is such a pent-up demand for
skill sets of all industries," said Norris. "And all the evidence we
have is that this is long-term and sustainable."
But some
observers, while welcoming the expected growth, cautioned that rapid economic
expansion does come with costs and challenges that need to be managed adroitly.
"There are
large and, sometimes uncomfortable, disadvantages to growth," said Art
Smith, chairman emeritus of the Alberta Economic Development Authority and an
outspoken advocate for Calgary's homeless, who have increased in number in
recent years.
"I applaud
growth, but with growth we have handicaps to our communities," Smith said,
alluding to shortcomings in infrastructure, employment and housing.
"This is
the price you pay for growth," said Smith.
Bronconnier
acknowledged the challenges, but emphasized there are also clear benefits to
growth.
"We want
very much to make sure we have a sustainable city. Growth is a two-edged
sword."
Marc Levesque,
senior economist with TD Bank Financial Group in Toronto, said expansion
forecasts for Calgary and Alberta are not surprising.
"We know
crude oil prices have been rising and one would be hard-pressed to find a
period where oil prices are running at elevated levels and Alberta is not doing
well," said Levesque.
He added that
strong energy prices are backstopping migration-fuelled consumer demand
"and a very healthy business environment at the same time."
© Copyright 2003 Calgary Herald
Hot Deal Alert!
One of our clients would like to let you know
about two investment condos she is selling. She and her husband are going
sailing for two years and would like to sell. (Motivated Vendor?) Both
Condominiums have great variable rate mortgages and all expenses are covered by
the rental income and then some. So if you like hands-off armchair Real Estate
Investing these ones are for you. The properties are located in Northern
Alberta and are professionally managed by Laidley Property Management. Please
send me an e-mail if you would like more information.
Interest Rate Information: It looks like the New Year is bringing in lower interest rates.
Over the last two weeks we have seen the banks lower their lending rates by as
much as 0.15%. Most lenders are at 5.25% for five year locked in Mortgages.
(Jan
16, 2002)
Today’s
ProLink Interest Rates on First Mortgages are as follows:
Rates
are subject to change without notice.
|
Description |
Best
Rate |
|
5 Year
Variable |
1.99
% |
|
6 Month
Closed |
4.45
% |
|
1 Year
Closed |
3.90
% |
|
2 Year
Closed |
4.60
% |
|
3 Year
Closed |
4.65
% |
|
4 Year
Closed |
4.85
% |
|
5 Year
Closed |
5.13
% |
|
7 Year
Closed |
5.79
% |
|
10 Year
Closed |
5.95
% |
|
15 Year
Closed |
6.29
% |
|
18 Year
Closed |
6.35
% |
|
25 Year
Closed |
6.50
% |
NEW PRODUCT
ALERT
No proof of income and up to 90% Financing for self employed clients.
Regards,
Dan Heon
ProLink Mortgage & Financial Corp.
Phone:
403-257-1801
Fax:
403-206-7622
Toll Free:
1-888-281-0111
Email: ProLink@telus.net
P.S. - We had lots of folks that forwarded our
Newsletter to their friends and family who in turn requested to have us send
them our “Mortgage News”.
Please feel free to forward this newsletter! (Its
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