A step-by-step guide to attracting all the investment funds you will ever need for your next real estate transaction
As the sales ofReal Estate Investing in Canada have proven, Canadians are looking to real estate investing to build wealth. In his bestselling bookReal Estate Investing in Canada, Don R. Campbell introduces the Authentic Canadian Real Estate (ACRE) system, the first system of its kind to show ordinary Canadians how to profit from investing in residential real estate. Told as a narrative, a typical Canadian couple named Richard and Emma successfully buy their first properties and now are ready to leverage their equity into more properties. In order to achieve their goals, they are introduced to a joint-venture specialist and, with his guidance, they learn how joint-venture partnerships work and secrets and strategies for acquiring new properties that only the pros know.
Richard and Emma build their portfolio -- and their confidence -- and so they leave their jobs to focus on real estate investing full-time. Following a proven 7-step system, Richard and Emma are equipped with the information, strategies and motivation they need to go to the next level by explaining:
What are joint-venture partnerships and how do they work to create win-win relationshipsWealth attraction principles-how to become a money magnetHow and where to find joint-venture partners-marketing and lead generation--and separate the wheat from the chaffStructuring a joint venture deal-building a team of experts and the due diligence processLegal structures and agreements, including tax implications19 landmines to avoid in joint venture partnershipsFollowing up with current joint venture partners and duplicating success
The appendices offer valuable time-saving checklists, forms and worksheets, as well as advice on paper flow and time management.
Meet the Authors viMeet the Real Estate Investment Network (REIN) vii
Introduction viii
Workshop #1: The Potential of JV Money 1
Let's Get Started 3
What Do the Numbers Really Mean? 7
Get Real: Commit to Chasing Your Own Dream! 8
Commit to Systems, Win-Win Relationships and Follow-Th rough 11
Making the Leap to JV Deals 13
Acknowledge the Power of JV Money 16
Action Step: What Do You Want JV Money to Achieve for You? 17
Tutorial: What Is Your Personal Belize? 21
Insights from a Veteran Investor /Wade Graham 26
Workshop #2: Systems Make JV Success a Priority 29
Systems: Th e Foundation of Your Real Estate Investment Strategy 30
The Importance of Relationships 31
The Team Approach is the Only Approach 33
Follow-Th rough Means Taking Action 35
Don't Let Analysis Paralysis Hold You Back 36
Action Step: Review Your Real Estate Investment Team 38
Tutorial: Relationships, Systems and Fundamentals 40
Insights from a Veteran Investor /Mark Loeffler 45
Workshop #3: Learn the Principles of JV Wealth Attraction 49
Why Is It Possible to Attract Money to JV Deals? 49
Commit to the Th ree JV Pillars 52
The Principles of JV Wealth Attraction 54
Action Step: Resolve to Do the Extra 10 Per Cent 62
Tutorial: Practice the Principles 64
Insights from a Veteran Investor /Cindy Wennerstrom 73
Workshop #4: How to Find JV Investors 77
Be a Money Magnet 79
From Circle of Infl uence to JV Partner 81
Action Step: Approach Your Inner Circle Contacts as JV Investment Gold 85
Tutorial: Recognizing JV Investment Gold 88
Insights from a Veteran Investor /Derek Peever 92
Workshop #5: How to Generate JV Leads with Superior Marketing 97
Solid Oak Marketing Rules 98
Put the Solid Oak Marketing Rules to Work 101
How to Generate Level 1 Leads 105
Generating Leads from Level 2 and Level 3 Investors 107
Action Step: Seek Out Sophisticated JV Investor Insight 109
Tutorial: Market Your Business Better 114
Insights from a Veteran Investor /Jared Hope 124
Workshop #6: How to Choose the Right JV Partner 129
Narrow the JV Field 129
Filter Potential Partners 131
Identify Your Ideal JV Partner 140
How to Present a Deal to a Potential JV Partner 142
Action Step: From Filter to Follow-Th rough, Always Use a JV Worksheet 148
Tutorial: How to Write a Letter of Intent 154
Insights from a Veteran Investor /Joe Ragona 165
Insights from a Veteran Investor /Monte Dobson 169
Workshop #7: Secure CommitmentMove Your Deal from Talk to Action 173
The Background Check 174
What's Your Plan B? 178
When a Prospect Says No: Dealing with Rejection 180
Action Step: Real Estate Investment Is about Action 184
Tutorial: Study a Joint-Venture Agreement 186
Insights from a Veteran Investor /Jules& Ange McKenzie 196
Workshop #8: How to Structure JV Deals 199
Ownership Structure: Know Before You Buy 199
Five Canadian-Specific Ownership Structures 200
Action Step: If You Have a Question, Ask It 210
Tutorial: Review the Fundamentals of a JV Agreement 213
Insights from a Veteran Investor /Gary McGowan 219
Insights from a Veteran Investor /Ian Szabo 222
Workshop #9: Closing the DealHow to Avoid Partner Pitfalls 225
Learn from the Mistakes of Others 226
A Proven System 227
20 Common Landmines to Avoid 229
Take Responsibility for Your Deals 249
Action Step: Walk in the Footsteps of Giants 249
Tutorial: The Top 5 Steps to Avoiding Landmines 251
Insights from a Veteran Investor /Michael Ponte 257
Workshop #10: Duplicating Success 261
The 7 Steps that Unlock the Vault of JV Secrets 261
Practice Makes Perfect 263
Built-in Flexibility 263
Get Your Deal Straight 264
Put Follow-up in Action 268
Make It Your Business to Know the Market 273
Action Step: Follow-up Communication Is Key 274
Tutorial: Taming the Paper Tiger and Using Accounting Strategies that Work 279
Insights from a Veteran Investor /Todd& Danielle Millar 289
Workshop Wrap-Up: Richard and Emma Look Ahead 293
Where to From Here? 293
Insights from a Veteran Investor /Jeff Gunther 296
Appendix
A: Property Goldmine Score Card 300
B: REIN Property Analyzer 302
C: Prospective JV PartnersFollow-Up Letter 304
D: Potential-for-Relationship Questionnaire 305
E: Expression of Interest Letter 310
F: Rental Properties Monthly Statement 312
G: Rental Properties Monthly StatementYTD Summary 314
Index 316
