Researchers have found that 80% of new years resolutions fail by February and 95% fail by April.

Did you set a new years resolution?

Did you do it?

Did you just “not bother” setting them this year since they don’t work?

Don’t worry – recent research shows that most resolutions fail anyways.

Resolutions are really nothing more than weak goals.

And most “goal setting” audios and workshops are too complex and take an entire day.

Who has an entire day to sit around?

Typically you set 100 goals, never achieve them and then feel like a failure.

In mine, you establish 3 in less than 20 minutes and have a clear outcome.

This is a great way to start your 2010 and be successful at it.

Every year around this time my wife and I sit down with a bottle of wine, talk about what we achieved the past year and what we want to see happen this year.

We figure it out and then put it on a calendar.

It’s very simple, takes less than 20 minutes and creates your life, instead of letting life create you.

Life is really is as simple as you want to make it, or as difficult as you make it.

Anyone who wants to throw away their old methods of setting goals or new years resolutions and receive my audio on Creating Your Life In 20 Minutes or Less, can do so by posting a book review this week on Amazon for Everyday Real Estate Millionaires: How Average People Really Do It, through the links below.

Amazon.ca »

OR

Amazon.com »

The book review should take no more than 2 minutes, must be honest and does not have to be a 5 star rating to receive the complimentary audio.

You’ll see that most people, especially the seasoned investors, gave it a great rating while some did not. The ones who did not had a common thread in that they wanted it be more technical.

Either way, I want to hear from you.

As long as you participate – I’ll send the audio to you at no cost.

Just post what you thought of the book, then send an email to paul@paulmhecht.com saying you did it and I will send your audio on Creating Your Life In 20 Minutes or Less – at no charge.

No shipping either. It’s a downloadable MP3 – I’ll send you the link.

Create your life now by going to the either link below.

Amazon.ca »

OR

Amazon.com »

If you’ve already posted a review and want the audio – no problem – just send me an email requesting it.

By the way – men achieved their goals 22% more often when they engaged in goal setting, a system where small measurable goals (ie. a pound a week, instead of saying “lose weight.”)

Women succeeded 10% more when they made their goals public and got support from their friends.

Women – tell others what you want. Men – focus on what you want.

“The world makes way for the man who knows where he is going.” – Ralph Waldo Emerson

With this in mind I want to pass on a few tips on how make your homes and investment properties safer so that you don’t get robbed.

I borrowed many of these great tips from Weiser.com who makes locks, deadbolts, keyless entry systems, etc.

1. Going on an extended trip? Leave a car parked in the driveway as it gives the appearance that someone is home. Always lock your car and consider take your garage door opener with you instead of leaving it in the vehicle. (cost = none)
2. Going away for the holidays? Don’t use your home address with your luggage tags. Use your office address or a cell number. (cost = none)
3. Don’t leave a message on your answering machine letting the world know that you’re not at home. Keep it to yourself. (cost = none)
4. Lock your doors 24/7. 50 percent of ALL break-ins are through unlocked doors! (cost = none)
5. Help the police help you! Make sure your address is visible. If affixing numbers to you house, they should be at least four inches high, reflective and visible from the street and have not been overgrown with bushes so that the police are wasting time confirming that they are at the right address. (cost = under $15)
6. Most burglaries are the result of forced entry. Make sure all exterior doors have deadbolts with at least a 1″ throwbolt. (approx $30 per set)
7. Been at the same house for a while? Replace your outside locks or re-key as you’ve probably given out your house key a lot through the years. (cost = under $50)
8. An intruder’s greatest fear is being seen. Good exterior lighting with motion detectors around your perimeter creates a psychological barrier (under $150 installed)
9. Working late? Have your house key ready so you won’t fumble at the door. Or, get a keyless entry. (under $200.00 installed)
10. DON’T keep an extra key outside your house. Burglars know all the hiding spots. Instead, leave a key with a trusted neighbor. (cost =
11. none)

By the way – if you do just one of these things for your tenants – they will appreciate the extra effort you provide them plus, its tax deductible for you.

Have a safe and secure holiday season!

As Rent-To-Owns gain popularity in this type of market, I posted an article written by my mortgage broker on the basics.

After attending my Live 3 Day Training last year and learning the in’s and out’s of how they really work; Scott’s business has grown from his better understanding and insight on what investors are trying to achieve.

This understand help him explain it to his underwriters and get your deal approved.

Here’s Scott Peckford’s (Mortgage Architects) article re-posted on my blog.

A Rent-To-Own is very similar to a car lease.

With a car lease you put down a deposit and make payments for a specified period of time at the end of the lease you have the option (not the obligation) to purchase the car for a predetermined price.

A rent to own works in much the same way. A buyer puts down a deposit, usually much less than the traditional 5% and makes a monthly payment. A portion of the rent is a credit towards the future down payment.

Here’s An Example:

Bob cannot get a mortgage because of a low credit score and a small down payment. He has reliable income and a plan to build his credit over the next 24 months.

He decides to do a rent to own with the following details.

Purchase Price $350,000

Initial Deposit $5,500

Monthly Payments $2000 (Rent $1500 Credit $500)

Term 24 months

Repairs and maintenance – Any repairs under $500 Bob pays for himself.

At the end of the 24 months Bob will have a full 5% down. ($500 x 24 = $12,000 + $5,500 = $17,500)

The important point in Bob’s case is he needs a plan to build his credit.

If a potential buyer is not able to qualify for a mortgage today it is important to determine what steps need to be taken in order to be in the best possible position in the future.

What Are The Benefits to the Seller?

The seller is able to have someone pay higher than market rents and take care of any minor repairs and maintenance.

In today’s rental market rent doesn’t always cover the monthly expenses.

Also, since the deposit is generally non-refundable when a tenant puts down a money for a rent to own scenario they tend to be really good tenants.

Why Would a Renter Do This?

It allows them the benefit of homeownership without having to qualify at a traditional bank right away.

It also works as a forced savings plan. Since a portion of the rent is going to be used as a credit for the down payment every month that passes the buyer’s down payment increases.

What Makes Someone A Decent Rent to Own Candidate?

• Low or No Credit – Credit is certainly one. If a potential buyer has been turned down by a bank because of credit problems an RTO can work for them. However, it is important for the buyer to have a realistic plan to get their credit back on track. (We have a program designed specifically for this.)
• New to Canada – Another situation where an RTO can be useful when a buyer is new to Canada. Often when new immigrants come to Canada qualifying for a mortgage can be difficult. A RTO allows the new Canadian to get a foot on the property ladder earlier than would otherwise be possible.
• Newly Self-Employed – Buyers who have been self-employed for less than 2 years will find it difficult to qualify for a mortgage at a typical bank. Since most lenders require a history on your self-employment income an RTO can give the self-employed buyer a chance to get their business going while still working towards homeownership.

What Are the Risks for the Buyer?

If the buyer is unable to qualify for a mortgage at the end of the term they risk losing their deposit monies.

The biggest mistake buyers make is not having a realistic plan before entering into an RTO.

Speaking with an experienced mortgage broker or banker and developing a plan will help reduce but not entirely eliminate this risk.

What Are The Risks for the Seller?

The biggest risk is the buyer will not, or cannot buy your home at the end of the term. If this happens the seller would have to attempt to sell the home again or do another RTO.

If you have any questions about financing your Rent to Owns or need help with that hard to finance deal, give Scott Peckford a call at 250-762-7526, Mortgage Architects.

If you want to learn more about Investing with Rent-To-Own, simply attend my upcoming Live Training »

Would $300 – $1,000 of extra income help every month?

Maybe you have an untapped goldmine right under your feet, literally!

In a downward or recessionary economy people tend to tighten their belts, watch their pennies and not spend.

If everyone’s doing it, then you likely want to go in the opposite direction.

(I don’t mean go out and stimulate the economy by buying a new car or taking a lavish holiday on your credit card.)

Look around and think how you could increase your own income so that that income can buy your car and pay for holiday, or maybe just buy groceries at this point.

Here’s a simple suggestion.

Consider adding a legal suite to your home.

Depending on the zoning, this will be easy for some homes and more difficult for other homes. Something to consider when buying.

Now, yes this takes money.

However, you can borrow the money from mortgage brokers or banks at cheap rates right now.

And, since you are making money from it, you are investing – not spending – big difference.

Sometime it can be as easy as $5K or $10K to make an additional $700 – $900/mo.

Let’s look at an example:

In fact, let’s go crazy and borrow $30K from your bank at 4% interest with a 25 year amortization to build a legal suite.

Your monthly payment to your bank would be $158/mo.

Assuming you could now generate only $700/mo in rent minus your loan payment of $158, you would have an extra $542/mo in additional income.

If you earn $60K per year at your job – that’s like giving yourself an 11% raise in a time when people are taking pay cuts and losing their jobs.

This way – you’re in control.

Plus, you now have tax write offs too.

If you can’t get proper zoning…

If you can’t get the proper zoning, then consider opening up a room in your home (maybe your basement or loft) and take on a room mate, border or exchange student.

There are plenty out there – just google it and you’ll find lots of people and agencies who will gladly pay you for a room in your home.

Some just want a room.

Others want room and board and will pay more for it.

Some just want the experience living in our beautiful country in a typical home.

Think about that today and take control of our own life.

You may be sitting on a gold mine.

There’s (Much) More Where This Came From!

• If you want 3 days of money making ‘meat and potatoes’ content (just like this) that you can use in today’s market (whether you have any money of not)  then get signed up for my Live 3 day Training in October.
• Can’t make the Live Training? No problem. Get the same money making content on DVD and watch it in your own home with my Home Training »

Don’t get me wrong -- I believe in the “buy and hold” strategy. It’s time tested and proven that it does work.

However, I don’t believe you should put ALL your efforts into just ONE LONG TERM strategy.

Why?

Because, then you have to WAIT for 25 YEARS before you get to enjoy life.

That’s not right.

My perspective is this.

Buy some long term hold properties as soon as you can. 4-5 is plenty.

That should at least more than replace your income in retirement.

Here’s how you know.

Add up the gross rent on all your rental properties.

Then take 70% of it. If that number is equal to or greater than your current income, then you don’t need any more long term rentals. You’ll be fine in 25 years.

Then while you are waiting for your tenants to pay off your property, build your cash flow with a mid term strategy so that you can change careers, take holidays, buy a new car, put your kids through school. …and yes, have a life!

The way to achieve this is through Lease Option Investing.

If you want to learn more about Lease Options watch this video:

This is just a 90 second snippet from my last Live Training.

If you want to learn this in a “hands-on” setting and interact with myself and other like minded investors and have some fun doing it; then I invite you to “test drive” my Live Training in October .

That should give you lots of time to plan. Just don’t plan too long as all our Live Trainings SELL OUT every time.

And, they sell out faster and faster every time I put one on as more people hear about it. So, don’t wait too long.

The people who could not get in last time have already registered for our October event so, seats are being taken already!

Check out my Live Training »

Most people don’t.

In fact, most people ask their REALTORS to bring them a good deal when they come across one. Talk about lazy.

This is one of the sure fire ways to lose money for several reasons.

Most REALTORS do not know what a good deal is.

They can tell you whether it’s priced well in comparison to other similar properties in the area.

However, other than the old “Buy and Hold” or “Buy, Fix and Flip,” they cannot show you a proven system on how to make money with it.
Therefore, how are they going to show you a good deal?

In my live training, I show 6 different ways to make money on any property.

I’m not trying to slag REALTORS either.

I’m simply saying that as an investor, if you are relying on a REALTOR to make you money, then you need to wake up.

You need to get educated.

In fact, many prudent REALTORS take our training so they too can learn how to make money in real estate as an investor.

Here’s feedback from just a few of the many REALTORS who have attended our LIVE training.

“If you are serious about getting ahead, then invest in Paul’s education, his content was excellent” – Lyle Stoneman, REMAX

“As a new real estate agent starting out in a tough market, I found this course helped me better understand the features and benefits of a wide range of investment options that just are not addressed in our traditional training course. My clients have benefited greatly from my ability to quickly analyze and discuss different and sometimes unique investment/ownership strategies. I found Paul’s presentation style and knowledge made for a great learning environment. He answered questions with enthusiasm, knowledge and depth. Thanks again.” – Dean Desrosiers, REMAX

“Very well done, well worth it and yes I would recommend it to family members” – Garry Gratton, COLDWELL BANKERS

You cannot rely on a REALTOR.

If you do, then when you lose money (and you will) – don’t blame them.

It’s your own fault for not knowing yourself.

This is nothing more than handing your money over to a financial planner and hoping for the best.

Don’t do it. Don’t be lazy.

Get educated and take control of your own investments.

Gain this investment confidence forever by going to my next Live Training »

You will not be disappointed. Read all the testimonials.

Is this the right time to buy real estate?

If this is how you think… you are making a big mistake!

If you are trying to make money by timing the market, then you are speculating….not investing.

The real question is not WHEN to buy… it’s HOW and WHAT you buy that really matters.

Don’t get me wrong, timing can really boost your profits and be a great BONUS.

However, if you focus purely on timing then you are still speculating.

My recommendation is to invest in a way where you make money regardless of market timing. That way you are protected from downturns and downturns become irrelevant.

HOW and WHAT you buy is more important than WHEN you buy.

Let me give you an example:

I made $18K on a townhouse in a down market by reselling it before I closed on it. I had the buyer lined up before I removed conditions. Therefore, I had removed my risk.

If I found someone to buy it before I removed conditions, I made money. If I didn’t find someone, then I didn’t remove my conditions nor did I take on any risk.

Risk enters the picture when you buy a property and do not know what your actual profit will be BEFORE you remove conditions. Most people buy a property and HOPE they will make money on it. This is risky and highly speculative.

This video shows how to flip without risk by lining up a buyer BEFORE you remove conditions, therefore minimizing your risk.

There’s way more where this came from in my Home Training »

Here’s what some of the attendees had to say:

“I’ve been involved with real estate for 20 years as an investor and real estate agent. Everything Paul said today is right on the money” Bruce B.

“This is real – not a lot of hype.” Lea S

“Since your live training, I purchased 1 lease option and thought I was doing okay. After watching this presentation today, I’m going for another one. Thanks for the inspiration.” Phillip T.

“Shows that you are able to make money in any market” Cory P.

“Great presentation! Paul walks the talk and is actually doing it. Well worth watching.” Marienne M.

The overwhelming response was that “Everyone NEEDS to See This!”

On this webinar I reveal a fool proof formula on how to evaluate any investment opportunity in 10 seconds or less. That’s right – 10 seconds or less! 10 seconds to make the difference between investing your money into something you’ll never see again or even worse, create a time consuming nightmare. I use 3 investment rules which I go through in 10 second or less when looking at ANY investment opportunity. Within 10 seconds or less; I can tell if it’s the golden goose or a time consuming speculative dud that will cause nothing but grief and turmoil.

I want to give you that easy formula RIGHT NOW!

Consider how much time and energy you could save by simply knowing the formula that millionaires use to evaluate any investment in 10 seconds or less.

I’ll be honest with you, most investments available right now to the general public are highly speculative and not the way millionaires make money in any market.

You may even be surprised or shocked at what I say today because it may go against everything you’ve bee taught about money, until now.

However, it really is very simple once you know what to look for.

I have prepared 100 minutes of complimentary webinar training for you right over your own computer.

Not only am I going to show you how to look at ANY investment in 10 second or less, I am also going to reveal…

• Where the Real Estate Market is Headed and How to Profit from it How to Find the Best Deals in this Market
• How to Be Sure You Aren’t Overpaying
• The Signals to Watch for to Know if we are at the Bottom Yet
• How Knowledgeable Investors Make Money in Any Market – Up or Down
• What Buyers Need to Know about this Current Market How Tenants Can Finally buy a Home Regardless of Credit or Down
  Payment
• How to Sell Quickly by Marketing to an Untapped Market Why People Got Caught in the Downturn & Why they Will Again Next Time
• Why Saving Your Way To Wealth Is Virtually Impossible
• The Clues I Found and Used While Studying Wealthy People
• How I built a $1M Dollar Net Worth in 24 + Months with $500 & Terrible Credit
• The Single Biggest FinancialMistake the General Public will Make in 2009

Go here now to receive your 100 minutes of training »

So, I inquired what it was all about.

Turns out Canadian Real Estate Magazine was seeking investors who had come back from the brinks of desperation.

They were looking for investors who had succeeded against the odds and wanted to know how they did it.

Does that describe you?

Could that be you?

More importantly, would you like that to be you?

Are you at the end?

Or, not getting ahead and need a major breakthrough… maybe yesterday?

Turns out that’s my story also… overcoming major hurdles like bankruptcy, no money and destroyed credit to turning it all around in short order and becoming a successful investor.

So, I contacted Canadian Real Estate Magazine.

They asked who I was – so I told them.

Then they arranged a more formal phone interview, wrote the article about my story and published it in this month’s issue of Canadian Real Estate Magazine.

.

WOW!!!

All from just picking up the phone.

What’s that saying – “80% of success is just showing up”

How many times have you wanted to pick up the phone or thought “I SHOULD call them, or maybe you WANTED to ask a seller to carry financing, or WANTED to ask a seller if they would lease option a property to you, or WANTED to talk to a potential investor but instead you didn’t?”

Then to add to it, you felt guilty because you knew you SHOULD have just done it.

You knew that that could have been the break you need, if only you had asked.

Why?

Success is as difficult or as easy as you make it.

More importantly it’s as easy or as difficult as you THINK it is. It is also not an event.

Success comes from those small steps and small actions that you do every day like picking up a phone and simply inquiring or asking simple questions.

You know what – if you can’t pick up a phone or ask for something you want – you will NEVER be successful.

So get over it and just ask.

Speaking of which, the purpose of this email to you – the article. The article which includes 3 great stories of Inspiring Investors who overcame very LARGE hurdles.

You can read the article about my story including stats on my top 10 deals.

If you’d like to read about the 2 other inspiring investors as well as many great real estate articles, then pick up a copy of the latest Canadian Real Estate Magazine today.

It hit stands on July 20th.

You can get a copy at Chapters and other major book and magazine stores or by subscription.

Feel free to forward this link to others a tell them to pick up a copy of the latest Canadian Real Estate Magazine today to read about “Inspiring Investors.”

The perfect thing to do before you read the article is to refresh your memory about that something you’ve been WANTING to do, or someone you’ve been WANTING to call and then just DO IT.

When?

Right now!

In fact, I dare you to do within the next 15 seconds…

You think you have what it takes to be successful?

Let’s see.

Don’t think about it – just DO it.

Once you’ve finished – see the article including my top 10 deals.

It’s my way of giving a “hand-up” to someone who REALLY needs it.

As you may know, I was bankrupt at one point. I had $30 to my name.

Regardless, I found a way, broke down all the barriers and overcame all my obstacles.

As my way of helping someone out there who really needs it – I’m giving away 1 seat to our live training event on May 22-24.

For details about the event, go to www.RealEstateLiveTraining.com

If you think I should give the free seat to you, here are the criteria.

1. You must be in dire straits, yet have a burning desire to succeed.
2. You know in your heart that real estate is what drives and motivates you and that you will succeed no matter what – it’s just a matter of time.
3. You are someone who does not give up in the face of adversity.

That’s it.

If you would like to attend our Live Training on May 22-24 and meet the criteria above, then please email me in confidence and tell me why I must select you as the one to attend our event, on me.

You know who you are. I look forward to hearing from you.