Tom Karadza & Nick Karadza

Income For Life "Members Only" Event

Well we had a blast at last week's Income for Life "Members Only" event.

And the feedback was fantastic.  We try to balance some fun with content, it's a real challenge and we'll continue to tweak, improve and grow!

Here are some pictures from the event.

On the way in everyone had their picture taken with Gene Simmons. 

We choose Gene because not only does he provide shock value when in costume but his work ethic and business skills are impressive. 

He's definitely worth studying and he show "Family Jewels" on A & E can easily be written off as just another reality show...but it's more like a business show than fluff TV.

The next picture is a quick shot of the room.  We've grown.  This is only our third event and we had 98 Income for Life members turn out. 

These members are people interested in fundamentally sound real estate investing.  Not "hype", but real investing for real results.

We also announced the creation of Rockstar Real Estate Inc. 

This is the new brokerage arm of Income for Life.  (That's the new logo you see in the picture.)

We're no longer tied to another real estate brokerage, we control our own fate now! 

For those that know us they also know that this is the beginning of a dream we've had for a few years now. 

To have a real estate brokerage in Canada run by investors, for investors.  By Canadians for Canadians.  Let the fun begin!

Next we had Mike on our team unleash his implementation of the idea "pay it forward" from the movie of the same name. 

His "chain of action" is going to land him a seat on Oprah. 

We'll chat about it more here in a few weeks, the website is almost done and Income For Life Members will be the very first to get the Chain of Action Key Chains!

To end off the night we invited Harry Stinson (a well known Toronto real estate developer) to share his thoughts on investing.

He has had highs and lows in his career and continues to persist in the face of some of his biggest challenges to date. 

The room was silent when he was speaking, he was a better presenter than I had expected.

All in all it was an amazing evening and we're planning for the next one this Fall already! 

Until next time...be a Renegade!

Tom & Nick.

Herd Mentality

No matter what you do or where you are you can view the mob mentality in action.

I actually wrote this blog post on my Blackberry while waiting for a movie to start but I had some problems with the Internet access so I couldn't post it until now.

Because of the rainy Sunday afternoon my wife and I decided to head out to a movie.

And with the big release of "The Dark Night" this weekend it was the obvious choice.

For the first time in a while I was willing to line up to spend hours with my eyes glued to a screen......but hey, we all need a break sometimes (although since I am writing this right you could say I am still working)......I know my wife would ;-)

Once they opened the doors there was a small stampede in front of us to get into the theatre, all through the one door that was open. It was a typical 'monkey see monkey do' scenario

Since I often notice this type of behaviour, I always look for another option, and of course right beside the stampede there was another door only it was closed.

It was very easy for me to think for myself and open that door. We quickly by passed the crowd into the perfect seats that everyone was pushing for.

Now I am not telling you this thinking I outsmarted people......opening a door at the movies is far from something that elevates you to another level.

But it is yet another example of how you finish ahead by not following the herd and acting on your own accord

Why couldn't all the people that were trying to jam themselves through a single door see such an obvious solution?  Because they had their heads in the butts of the the rest of the herd in front of them.

People often think that it takes timing and luck to see opportunity.  But it doesn't, you just need to start looking for it.

And by training yourself to look for solutions no matter what size the situation is you can only finish further ahead.

Who knows the opportunity that might be behind the next door I open?  I am happy that the herd will continue to pass it by!

- Nick Karadza

Canadian Lending Rules Are Changing

Have you heard?

The Canadian government has decided to limit access to some of the newer mortgage programs that were available to home buyers.

You can take a look at the article here

Perhaps the best part of the article are the comments at the bottom.

It never ceases to amaze me how negative the majority of people I speak with are (just like the comments in the article).  No matter what the news is, they focus on the negative.

I applaud Sunil (check the article comments) for using a 40 year mortgage to his benefit.  It is people like him that finish ahead of the crowd.

Now, on to the mortgage changes......

To sum it up there are two major changes that have been made.  The government will not allow CMHC to insure mortgages amortized over 40 years, or mortgages with 0% used as a downpayment, any longer.

So what does this mean to you and me?

It can depend on a lot of things.  There are advantages and disadvantages depending on your what you are using your mortgage for.

The point of view differs depending on whether you are a homebuyer or investor as well.

There is one constant and that is the anticipated effect these changes will have on the real estate market.

Chances are anyone that can only qualify for a home with these programs may be anxious to get into the market before they come into place in October which could cause a slight bump.

Then, with less people being able to qualify for homes because of the changes there is a potential that this will contribute to a bit of slowing in the market.

WAIT....DON'T PANIC!!

This will not cause a market crash.  Don't fall into the trap of listening to the negativity around you.

In fact in you are an investor this may be some welcome news, as your rental pool is about to grow with qualified candidates.

I look at this as good news for my current and future investments.  I think this only makes the investment market stronger.

As an investor it is extremely important to get the 'real' story and look behind the headlines and make yoursefl more educated.  How does the news relate to you specifically? in your specific investment and market?  That is how success is bred!

Unfortunately my day is completely booked today so I don't have much time to elaborate.  But this is something we will be looking at in the current issue of our Income For Life newsletter that all our private coaching clients receive.

If you are an investor in Ontario you should check us out.  Our application form is online at www.IncomeForLifeApplication.com we work hand in hand with all our members to ensure their success.

Enjoy the weekend!

- Nick Karadza

p.s.  Remember, if you're looking for Real Estate Investing information, tips and guides straight from two Canadian brothers who work with Canadian Real Estate Investors investing in their own backyard sign up for the Renegade News Letter by clicking here!