Category Archives: Featured Post

the42 Condos in Waterloo

Have you see the42 Condos yet?

This mid rise condo development was just completed this year, and has a prominent Uptown Waterloo location at Bridgeport & Peppler.

Momentum Developments is getting a lot of love around Waterloo these days for the release of their new development, RED Condominiums, which debuted last night to a VIP crowd and proceeded to sell out half the building.

the42 Condos on Bridgeport

The residential condos were completed this summer, and the building was registered as a condo last month.  Once a condo building is registered, owners receive title (ownership) and can sell their units on the MLS if they wish.

the42 Condos Resale Prices

Since registration, two condos have sold at the42, and the prices bode very well for everyone who bought back in 2008 during pre-construction.

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

the42 Condo Interior Images

PS – remember these great pics? They’re from a 2 bedroom + den at the42 owned by WonderfulWaterloo member Sampson

the42 condos

Feel like there is more natural light in this kitchen than most other?  You’re right.

The owner of this residence worked with the builder to customize the floorplan, moving the kitchen adjacent to the terrace and it’s wall of windows.  I think it looks terrific – and it’s unique.

Notice the low VOC bamboo floors, just one of the lower impact “green” options that Momentum Developments offered at the42.

the42 Condos For Sale

For pricing & availability of the42 condos in Waterloo, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

If you are interested in other Waterloo Condos, let us know what you are looking for. We have a selection of condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

There are currently two units at the42 condos for sale – let me know if you’d like to set up a private tour.

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What real estate investment strategy are you using ?

A lot of people come to me talking about the ‘gross rental multiplier’ on a single family home, or about how important it is to get maximum cash flow, or how they won’t look at properties under a certain capitalization rate.

Poor planning is the downfall of many would be investors. Maybe they don’t know what to look for in an investment property. Sometimes they don’t have their criteria nailed down. More often than not, they have a basic misunderstanding of wealth building.

One of the first things you need to do before you build your real estate portfolio is determine whether or not you should be following the Growth model for investing, or the Income model for investing.

Which model you choose will depend on a number of factors, mainly the size of the gap between how much equity you have, and how much equity you’ll need in retirement.

As we discussed yesterday, the income you receive in retirement is directly tied to how much equity you have. Your income is based on the return you make on your equity. The more equity, the more income.

In the Growth model, you are trying to accumulate as many assets as you can, in order to benefit from the appreciation and principle debt reduction over a large portfolio. In the Income model you are primarily investing your equity in order to receive cash flow to live on (or use for other business ventures).

What this means is, unless you already have a few million in equity, you should focus on Growth, rather than Income.

If you only have $100,000 in equity, it would be detrimental to look for an investment that will maximize your cash flow. What I would do is leverage that 100K into a portfolio of real estate in the Kitchener Waterloo area that is positioned to appreciate over the next several years (and your individual situation will determine the holding time).

In real estate, you benefit from owning more real estate, not from owning more of one piece of real estate. Leverage, used in combination with due diligence and a solid educational base, will allow you to accelerate the growth of your equity considerably.

Call me now @ 519 570 4447 for a free no obligation consultation about how your equity can be growing faster.

Benjamin Bach Cartoon

Benjamin Bach is passionate about helping people build wealth for an abundant retirement. He works with investors from across North America, helping them Retire Rich, and earlier than they thought possible!

Call or email Kitchener Waterloo’s Favourite Real Estate Agent (Gold Award, Kitchener Waterloo Record Readers Select Awards 2007 – 2008) today to learn how you can start your Real Estate Investment portfolio.

Benjamin is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo and would love to answer any questions about buying or selling a rental, income or investment property.

You can reach Benjamin at benjamin(AT)benjaminbach.com or call him at 519 570 4447. More info on Benjamin can be found at http://www.kitchenerwaterloorealestateinvestments.com/

When investing in real estate, use professionals !

An interesting situation came up recently while I was pursuing an investment property for a client in Kitchener Waterloo, Ontario.

Sally is from out of town, but she has recently started to move her equity into the Kitchener Waterloo area in the form of real estate investment property.

She had a mortgage broker she used when she bought her house a few years ago, and she wanted to use the same broker.

I have a ‘rule of 1.’  If my clients have a preferred vendor (like a lawyer or a mortgage broker) that I haven’t worked with, and my client’s are completely confident in that person’s ability to close the transaction, I’ll let them work with them.

The ‘rule of 1’ refers to the number of strikes they get – one.  If they mess up a deal for my clients – and if it happen it’s usually because they don’t deal in investment real estate but figure, what the heck, it can’t be that hard – that’s the last time I’ll participate in a transaction they’re involved in.

Usually, even when their is a problem, I’m able to have one of my Wealth Building Team members step in and help resolve the situation (as I did last month when my client’s lawyer decided a week prior to closing not to handle the transaction).  This time, I wasn’t able to save it in time.

Sally’s mortgage broker had gotten her an ‘OK’ loan for the first property she bought this month, but when she went to invest in a second property,  the mortgage broker was unsure if both loans could be approved.  She couldn’t say yes, she couldn’t say no. She kepy saying ‘who knows.’

Finally I had to step in and have the owner of a local mortgage brokerage contact my client.  With only a few days to go, the deal was almost saved, but in the end we would have needed an extra day or two to make the arrangements necessary to go with the new loans.

Sally sent me an email after this happened.

“Lesson learned…  Go with the pro’s from the get go.  If I handed this of to Jeff earlier, I’m sure this would have worked.”

Next month when we go shopping for property, she will be using a mortgage broker who has experience dealing with investment real estate.

When you invest in real estate, make sure the professionals you’re dealing with are specialists in investment real estate.  Ask them if they invest in real estate personally.  If they don’t, why would you take advice from them on investments ?

The lawyer I use owns investment property. The mortgage brokers I use are investors. My inspectors have a real estate investment portfolio.

This means that you’re getting advice from professionals who actually know a thing or two about investing in real estate.

Call me at 519 570 4447  for a free half hour Wealth Building consultation.  We’ll take a look at how your plan is working so far, and if it’s getting you to the sunny, warm retirement you’d like.  If your current plan isn’t, let me show you how to get where you want to be.

Benjamin Bach Cartoon

Benjamin Bach is passionate about helping people build wealth for an abundant retirement. He works with investors from across North America, helping them Retire Rich, and earlier than they thought possible!

Call or email Benjamin today to learn how you can start your Real Estate Investment portfolio. Benjamin is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo and would love to answer any questions about buying or selling a rental, income or investment property in the Greater Waterloo Region

You can reach Benjamin at benjamin(AT)benjaminbach.com or call him at 519 570 4447

Is your portfolio ready to reitre ?

Back when I was working in a large financial management brokerage (which means I was working with a team of stock brokers), I remembered being shocked at how small people’s portfolios were when they approached retirement.

A very common situation was:

Married couple, sixty years old

Making $100,000+ year combined

$500,000 in RRSP and other stocks, bonds and mutual funds

Retirement at 65

Expecting to continue living their (relatively) expensive ($75,000/yr) lifestyle in retirement

A simple calculation shows that they can live off of their savings for 7 or 8 years, that’s all.

They’ll be BROKE by 75 if they continue to live like they do now. Goodbye snorkelling, hello winter.

Broke old man

Does this sound like where you might be heading ? If you change some numbers in the above story (say, change 60 years old to 50, and change $500,000 in savings to $250,000) does it describe you ?

I’ve found that it describes a large cross section of the people often thought of as ‘upper middle’ class – large income, nice toys, low savings. What happens is that when these people retire, they often turn from golfer to caddie. They have not built up enough assets to live the lifestyle they want to live.

A Financial Future Focus can help alleviate the symptoms of a poor retirement.

If you’re unsatisfied with the traditional strategy of ‘pay off your mortgage, invest in your RRSP, live mortgage-free on a small fixed income in retirement,’ you owe it to yourself and your family to see how investing in real estate can help you build equity and cash flow for an abundant retirement.

I remember talking to a colleague of mine in January, the day before I flew out to spend the weekend with my grandparents in Miami Beach. He told me how lucky my grandparents were to be able to spend the cruel Montreal winters in Miami Beach.  Alot of his parent’s friends of the same age were lucky to be able to spend their first three or four winters of retirement in Florida, but after that… the funds dried up, and they spend summer and winter in Kitchener.

It doesn’t have to be like that.

I just started working with new clients. They’re young, just started their family, and are committed to doing the work and developing the disciplines that are neccessary to building their wealth.

They have bought two investment properties in the last month – one at $130,000, one at $122,500 – and have plans to continue building up their portfolio. Thanks to the magic of leverage, they have purchased over $250,000 in assets with less cash than they would have needed to buy a low yielding $50,000 bond.

They also managed to purchase assets where someone else will pay off the bulk of the loan used to buy it.

They also purchased assets that will provide great cash flow and continue to appreciate in value.

Here is how their retirement will look:

The Queen Mary II

Let me know which option works for you.

For all the hard work you do, you deserve a great retirement – and you can have it.

Benjamin Bach Cartoon

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about helping people build wealth for an abundant retirement. He educates investors from across North America, helping them develop a Financial Future Focus of where they will take their portfolio.

If you are interested in how you can start your Real Estate Investment portfolio, have any questions about buying or selling a rental, income or investment property in the Waterloo Region, or are looking for a tip on a great book to read, please email Benjamin at (benjamin(AT)benjaminbach.com) or call him at 519 505 1310

Vote Now for Kitchener Waterloo’s Favourite Real Estate Agent

I have some great news .

Thanks to your support, I’ve been nominated as Kitchener Waterloo’s Favourite Real Estate Agent in the The Record’s annual Reader’s Select Awards.

Vote Now

I’d really appreciate it if you could vote for me . It will only take a minute, and it would really mean a lot to me.

Just click this link  and:

1) Fill out the first section which just asks for your contact information
2) Scroll down to Favourite Business – Real Estate Agency.. and select … Keller Williams
3) Scroll down to Favourite People – Real Estate Agent and select … Benjamin Bach
4) Scroll down to bottom of page and click “Submit Vote

There are some great businesses and people nominated in the different categories, so be sure to support your other favourites!

FREE Workshop – How to retire earlier, better and warmer through Real Estate Investing

That’s right, it’s time for another one of my famous Millionaire Real Estate Investor workshops, where we explore proven models for building wealth and helping people reach and exceed their retirement goals.

You will learn how Millionaire Real Estate Investors have built wealth; see the long term difference between investing in stocks and real estate; learn how to maximize your profits in the condo market; and yes, we’ll talk about flips!

When: Wednesday, August 15th 7-8:30pm,

Where: 9-871 Victoria Street North, Kitchener Ontario

Cost: FREE if you RSVP to benjamin(AT)benjaminbach(DOT)com or 519 570 4447

There are only 20 spots.

Anyone can do it. Not everyone will. Will you ? Email me NOW to reserve your seat!

Benjamin Bach Cartoon

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about helping people build wealth, and educates investors from across North America, helping them develop a Financial Future Focus of where they will take their portfolio.

If you are interested in how you can start your Real Estate Investment portfolio, have any questions about buying or selling a rental, income or investment property in the Waterloo Region, or are looking for a tip on a great book to read, please email Benjamin at (benjamin(AT)benjaminbach.com) or call him at 519 570 4447.

A new addition to our Kitchener Waterloo Real Estate Investment Portfolio

On Monday, Sarah and I closed on an ‘investment-grade’ condominium in North Waterloo. There were some mild theatrics associated with the closing (i.e. where was the other side’s lawyer on Friday when we were to close the deal? Canoing ? Lawn bowling ? Enjoying a lazy Friday afternoon at Morty’s ?) but all is well that ends well – at least in this case.

When I say ‘investment-grade’ condo, I am referring to a handful of condominiums in town – buildings with good management, low prices, good rent, great location, modern wiring (and no aluminum!) & plumbing, healthy reserve funds etc. They can be managed for a very reasonable rate, and the annual maintenance and repair you will put into the unit are minimal. One Millonaire Real Estate Investor I know who owns many of these units said ‘The only time I’m there is Jan 1 when I go to pick up 12 rent cheques.’

These units Condominiums, semi-detached homes and townhouses have appreciated approximately 8% in the past 12 months (May 2006-May 2007, as provided by the Kitchener Waterloo Real Estate Board), and have shown very good appreciation over the past 10 years.

Our unit sold for $120,500, and will rent for between $850-950/mo + hydro depending on the polish we put on the place (we’re redoing the floors [today actually], refreshing the kitchen and bathrooms, new appliances etc.) Condo fees are $215 a month, and taxes are about $110 a month. Our mortgage, @5.89% with 20% down, is about $500 a month, and we’re paying it in biweekly (accelerated) instalments.

I have clients, colleagues and friends who have bought these units with less than 20% down – your mortgage costs will be higher and your cash flow will be correspondingly lower.

These condos (and there are a couple on the market [and a great one off market, but available to my clients] that I can show you) are a great way to get in on the real estate market, and start growing your wealth through smart investing!

Benjamin Bach Cartoon

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about helping his clients build wealth, and has recently been nominated (by the readers of the KW Record) as one of Kitchener Waterloo’s Favourite Realtors!

If you are interested in how you can start your Real Estate Investment portfolio, have any questions about buying or selling a rental, income or investment property in the Waterloo Region, or are looking for a tip on a great book to read, please email Benjamin at (benjamin(AT)benjaminbach.com) or call him at 519 570 4447.