“No Rain; No Rainbows”
This is one of the favorite sayings of Hawaiians. We have a condo on the island of Kauai; also known as the “garden island”. One of our friends says, “ya know, if it didn’t rain so much it would cost a lot of money to paint all these trees green”.
During this time of uncertainty, its good to remember that there will be some benefits in the long run. Its hard to see them now, but try and think of the advantages that are happening right in front of you...more time with your kids, more rest, AND you can try cutting your own or your kids hair because no one sees it anyway.
Things will recover! They always do. (Or you could win a free hair cut in my last post!)
There have been great depression’s and there have been great recoveries.
If you need any help, want any advice, or want to have a goal setting session to focus on the possibilities in the future, please feel free to contact us.
“This too shall pass”
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We were watching the movie, “The Green Book”(which I highly recommend)!
Dr. Don Shirley, a world-class African-American pianist based in NY, is about to embark on a concert tour in the Deep South in 1962. In need of a driver and protection, Shirley recruits Tony Lip, a tough-talking bouncer from an Italian-American Bronx neighbourhood. It was about all the prejudice that he experienced.
One evening, the driver was invited into this very fancy house to watch him perform but he chose to stay outside with the other chauffeurs who were African-American.
When the performer emerged outside he said, “why are you out here?”
Driver responded, “Well, the rest of the drivers are out here”.
“Yes, but you had a choice to be inside; they did not”, said Shirley.
I got thinking about how that relates to building wealth. There is no reason that you can’t do it. There’s no magic “line in the sand” that prevents you from stepping over it, setting goals, making choices and taking steps to create a better life. You just have to decide to do it and figure out the steps to get there. We love goal setting sessions and can help with that. Give us a call and get started today!
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#BeOnTheInside
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Bryce/Penny Kander
This term holds new meaning for me. We are in Hawaii, and while out walking after a recent storm we found tons of avocados, limes, and guava just lying on the ground.
We went back the other day and the only fruit I could pick was low hanging fruit. The thought came to mind that this is like what’s happening in our economy. The first wave of people are paying attention and pick up ripe fruit off the ground; this is the windfall. Other people are picking the “low hanging fruit”. Those are the properties of sellers who are eager to sell; maybe the people that have to sell because they are in financial trouble.
Even though the state of things may be sad, it is a good time to buy something!There are good deals just “lying on the ground” or easily “plucked off the tree”. Sometimes they are tricky to see but if you keep looking you might find something great. They won’t be free like the fruit we found but they will be a great price.
Also, prepare for storms (drops in the economy) and try to have some shelter. Put some money away so that your investment won’t be blown away by the winds of change.
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#SaveForAWindyDay
#PickSomeFruit
#Windfall
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Bryce/Penny Kander
If you purchase a house with your 18+ child on title, giving them half of the ownership/title, you’d be able to purchase a legally suited house for 5% down instead of 20% down.
They would have to live there, so even if its not quite time yet, you could save this strategy for later.
There are many benefits to this!
1. You’re buying a rental for 5% down! Yes YOU only get half, but normally even half a house costs you 10% if you buy with 20% down.
2. Transfer of wealth when you die. There’s no estate tax paid when the ownership transfers to full title in your child’s name! Bryce’s Dad bought him a suited house this way when he was 18 and Bryce owns the full title now.
3. You can have your child manage the property for you since he will be living there.
4. The tax write offs are still the same; you’ll pay little to no tax on the cash flow.
5. You get 4X more leverage using 95% of the banks money instead of 20% of your money.
6. You’ll have a higher Return on Investment because you’ll have less invested.
7. You’ll have a 15% slush fund to pull from for emergencies (or if you want to go on a vacation.).
8. You can get 4 rentals this way instead of just 1 for 20% down.
9. You’re building a legacy for the next generations.
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#WiseInvesting
#BuildALegacy
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Bryce/Penny Kander
Did You Know...there an amazing mechanism in your brain that shuts out sounds that you hear all the time? It’s called a Reticular Activating System.
This is why you can live beside railroad tracks or subways or highways and not hear them.
I purchased an acreage right off the highway (future development land).
Other people didn’t want it as it was too close to the road. They missed out on $1,000,000 increase in wealth. We lived there for 8 years and loved it.
Don’t let repetitive noise dictate your future. If the price is right or if the future looks bright, buy it...your brain already has the sound issue covered.
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Bryce/Penny Kander
Are empty rooms a sign that you have too much money?
Maybe the opposite is true.
I was listening to Dr. Laura Slezenger one day and the lady caller phoned in to explain how she had a new baby and was sad at having to go back to work to help pay for their house.
Dr. Laura asked, “how big is your house”?
“1200 ft.²”
Dr. Laura responded, “how many people live in your household”?
“Three”.
Dr. Laura: “OK even if you lie down and spin around, each of you would only take up 200 ft.² so sell your house and move into something smaller and stay home with your kids”.
This is one of my favourite stories that I tell to clients looking for a new home. Just because you COULD afford to buy a big house doesn’t mean you SHOULD. Just buy what you need. Have more money in your pocket for other goals. Like saving to get an investment or vacation home that you can Airbnb to generate extra income. Don’t fall into the trap of having to keep up with the Joneses.
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#LessIsMore
#BigEnough
#AffordableLiving
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Bryce/Penny Kander
Realty Executives Alberta Elite
The Zombie Apocalypse is real!
Compliments of our cell phones!
I attended a virtual seminar on using your mind and energy to its full capacity.
He said, “only 1% to 10% of the time are we in our conscious mind”!
That is the part of our mind which creates our future and creates our reality. The rest of the time we are on, what he called, “auto pilot”.
I was pondering this, and I thought about all the people that wander around looking at their phones. They look like zombies going through the motions of life but not really being present.
So maybe its time to put down your phone and start mindfully creating your future! That future may involve moving forward with an investment, purchasing a property, planning a holiday, whatever you dream of...
Use your time for productivity rather than just being a phone or tv zombie. This one change will catapult you ahead faster than you can imagine, even if you just did that for 20% of your day instead of 1 to 10%.
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#Learn
#MindfullyCreateYourFuture
#DontBeAZombie
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Bryce/Penny Kander
Realty Executives Alberta Elite
