Benjamin's Blog

5 things to read at my blog

Benjamin Bach (Keller Williams Golden Triangle Realty) — Tue, 06 Nov 2007 06:39:41 -0600

This morning my good friend Phil Gerbyshak published an interview we did together. I highly recommend you check it out at Phil’s site.

If you found my main blog (Kitchener Waterloo Real Estate Investments) from Phil’s site, or you’re a new reader to the Kitchener Waterloo Real Estate Investment blog, here are a few articles I recommend you read:

My interview with best selling author of Never Eat Alone, Keith Ferrazzi

Do you have enough money to retire the way you want to ?

Bob Burg, relationship guru and best selling author, shares tips on building lots of great relationships

Top 10 Reasons to Invest in Kitchener Waterloo Real Estate

The 5 Skills That Will Make You Rich

Great Real Estate Investment Opportunity

Benjamin Bach (Keller Williams Golden Triangle Realty) — Tue, 06 Nov 2007 06:33:34 -0600

Looking for a great investment property in a growth region? A two bedroom condominium in Kitchener Waterloo, Ontario came across my desk this morning, listed for a shade under $110,000.

The last condo unit listed in the building sold conditionally in one day, and was listed at $119,000. The condominium complex is well managed and centrally located in an established area (Stanley Park) of Kitchener Waterloo; most of the neighborhood is family homes.

If you are interested, contact me now at 519 570 4447.

Benjamin Bach wants to show you how Real Estate Investing can make you wealthy. He works with investors from across Ontario and Canada, helping them build wealth through smart real estate investments.

Call or email Kitchener Waterloo’s Favourite Real Estate Agent (KW Record, 2007) 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

New CMHC Report Released About Kitchener Waterloo Real Estate

Benjamin Bach (Keller Williams Golden Triangle Realty) — Tue, 06 Nov 2007 06:31:52 -0600

This afternoon, CMHC sent me their newest report about the Kitchener Waterloo and Guelph (they have added Guelph into the Kitchener Waterloo report this quarter) real estate market ("Kitchener and Guelph CMA Housing Market Outlook").

There is a wealth of research and statistical knowledge contained in it, including information on new housing starts, sales volume, sales prices, and economic trends.

Here is a sample of what CMHC has to say about the residential real estate market:

Relatively more affordable existing home prices, a high level of new listings, low mortgage carrying costs through diverse home financing options, limited choice in the new home market and continued population growth will contribute to the record sales in 2007 and only a slight pullback [in volume] for sales in 2008.

The supply of new listings has been trending higher since 2000. As house prices continued to rise, homeowners have been encouraged to list their homes for sale.

New listings will remain high in 2008, but virtually unchanged from 2007 levels.

The ample choice will encourage potential homebuyers to begin their search for a home in the resale home market.

Despite the high level of new listings, demand has outpaced supply.

You can read the entire report here, and read the rest of this article at my Kitchener Waterloo Real Estate Investment blog

A new addition to our real estate investment portfolio in Kitchener Waterloo

Benjamin Bach (Keller Williams Golden Triangle Realty) — Fri, 07 Sep 2007 16:12:11 -0500

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!

Behind door number 1, a lovely cruise. Behind door # 2 ...

Benjamin Bach (Keller Williams Golden Triangle Realty) — Fri, 07 Sep 2007 16:10:57 -0500

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.

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:

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.

Use professionals when yuor money is on the line !

Benjamin Bach (Keller Williams Golden Triangle Realty) — Fri, 07 Sep 2007 16:10:01 -0500

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.

FOR SALE - Best location in Kitchener’s prestigious East Ward

Benjamin Bach (Keller Williams Golden Triangle Realty) — Sat, 12 May 2007 09:37:30 -0500

For Sale - 93 Lydia Street, Kitchener

It is my pleasure to present you with an opportunity to live on one of the nicest tree lined family-oriented streets in Kitchener’s prestigious East Ward. This lovely home is an all brick, Schnarr built 3 bedroom home with an abundance of hardwood in the formal dining room, living room, and two of the three bedrooms, and all the charm and character you would expect from a home built in the early 1940’s by one of Kitchener’s best home builders of the day.

93 Lydia Street has been lovingly maintained by the current owners (who are only the third owners of the property) and it has had many recent updates including the roof (2002), windows (2003), new maple stairs, updated bath, and a well built unique front deck which is perfect for enjoying Lydia Street on a warm summer night. Their is an attached single garage, and the yard is low maintenance. The basement features a bonus room, as well as a partially finished laundry area, and a rough-in for a second bathroom.

Only a short walk to the new Kitchener Market, the world famous Centre in the Square, and all the amenities of downtown Kitchener. Uptown Waterloo, Cambridge & Guelph are only a feqw minutes away by car; it’s 45 minutes to Pearson Airport, and 1 hour to Toronto and London.

For more information, or to arrange a private tour, please contact me at 519 570 4447 or benjamin(AT)benjaminbach.com.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. Benjamin loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfil his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, have any questions about buying a home or selling a home, or are looking for a good book to read please email Benjamin (benjamin(AT)benjaminbach.com) or call him at 519 570 4447.

Annual Financial Check Up

Benjamin Bach (Keller Williams Golden Triangle Realty) — Sat, 03 Feb 2007 16:34:09 -0600

Annual Financial Check Up

Posted by Benjamin Bach on January 28th, 2007

This morning I’m going to follow Jeff Brown’s lead and encourage all of my clients, friends, family and readers to take an honest look at their finances today.

What is your retirement plan? What lifestyle do you want to lead when you stop working? Can you afford to stop working at 60 or 65? Can you stop working at 35 (as two of my clients are planning to do) ?

Is what you’re doing now going to get you where you want to go? If not, then isn’t NOW a pretty good time to make some changes?

Sit down and look at how much cash you have on hand, how much equity is in your home (earning very very little, I should add), how much you have in your RRSP and unregistered savings.

Could you afford the downpayment on an investment property? Whether it’s a duplex (initial cash investment required: $0-$20,000) or a large apartment building (initial cash investment required: $100,000 +) you probably could.

What will your financial picture look like in 5 years if you took $250,000 and invested it in real estate? See this post for a quick answer. For those of you withouth $250,000 burning a hole in your low interest bank account, don’t fret: the potential to accelerate your equity through leverage is inherent in every real estate investment, not just when you’re starting out with 250K. I have clients who have bought their first investment properties in Kitchener Waterloo (duplex, triplex of fourplex) with zero down, and have done very well with that.

Do you have a Financial Future Focus of where you want to go? If not, invest a few hours of your afternoon today and let yourself see where you could be in 3, 5, and 10 years if you started execuiting your investment plan.

I would love to help you develop your Financial Future Focus and start executing a purposefully desigend investment plan. Call or email me, and we can set up a meeting at your leisure. DON’T FORGET - You can still register to attend Invest & Grow Rich, taking place on Tuesday February 13th. Information on this event is here.

Benjamin Bach is a Sales Representative with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to help people start building equity and get on the road to financial freedom and abundance. He wakes up each morning excited to fulfill his mission of building wealth for his clients through comprehensive Real Estate investment planning, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Ben’s Top Three Tips for Sales Success

Benjamin Bach (Keller Williams Golden Triangle Realty) — Sat, 03 Feb 2007 16:33:05 -0600

Ben’s Top Three Tips for Sales Success

Posted by Benjamin Bach on February 2nd, 2007

1. Focus on the client

2. Give give give

3. Look at them with love in your eyes

What are your top sales tips? Leave them in the comments section!

Subscribe to Benjamin Bach’s KW Market Watch by Email

Interview with Paul Gruber; Achievement Coach to the Stars

Benjamin Bach (Keller Williams Golden Triangle Realty) — Wed, 27 Dec 2006 18:07:59 -0600

Interview with Paul Gruber, Achievement Coach to the Stars

Posted by Benjamin Bach on 1st August 2006

It is my honour to present the latest interview in my series of chats with business visionaries and experts. Today I am joined with my business coach, Paul Gruber, who is an achievement coach with RRi, one of the fastest growing achievement coaching firms in the world. Paul is dedicated to personal growth, and to helping others achieve their dreams. How did I get started in business?

Believe it or not, that is a challenging question. I’m not your typical business person; I consider myself to be a perpetual entrepreneur. What got me started in business though, was a book that I read over twenty years ago, “In Search of Excellence”, by Tom Peters.

What do you see as the future trends in the business world?

Imagination and creativity will rule in the future. If you think about it, all left brain processes will be digitized and will be easily exported to the lowest bidder, where ever that might be. It’s the imagination that can not be digitized. It’s imagination that will take all the information and create something out of it. Imagination is the thought process that is most adoptable to changes.

What do you do to improve yourself?
In Malcolm Gladwell’s book, The Tipping Point, he writes about three types of people; the Connector, the Salesperson, and the Maven.

I’m the Maven; I’m constantly scourging the internet, magazines, and books looking to find new thoughts to expand my mind. I read 4 to 5 books a month; I look at 100’s of websites on a regular basis. I’m also very active in various networking functions. This puts me around people that motivate me.

Does personal growth really lead to growth in business?

There are three levels of knowledge in life. That which we know; that which we know that we don’t know, and that which we don’t know that we don’t know. This can be compared to your growth in business. As you grow your business there will be your three levels of business knowledge. That which we know; that which we don’t know, and that which we don’t know what we don’t know.

Personal growth will expand your mind in all these areas.

How is technology changing the way we do business? How is it changing personal growth?

This is one of my favorite topics:

1. Thomas Freidman stated in his book, “The World is Flat”, that there is going to be more and more business shifts. That business will relocate to other parts of the world.
2. Tom Peters quoted in his book, “Re-imagine”, that you can’t compete against China in manufacturing, and your ca not compete against Wal-Mart in pricing.
3. Daniel Pink wrote in his new book, “A Whole New Mind” that if the action is routine, that technology will recreate it. Think of it this way, if what you do is repeated, it can be reproduced through technology, and hence human interaction will be eliminated. Just think of the opportunities?

Technology is changing personal growth in many different ways, i.e. Blogs, Vlogs (video blogs), see www.youtube.com, Pod casting, video streaming, etc. Information will become more accessibly and segmented. Think of it this way: It wasn’t that long ago, if we wanted to see a motivational speaker, it would cost hundreds or thousands of dollars, not to mention the time spent traveling to the show. Now, just today, I listened to Daniel Pink on the internet, as I watched his Power Point, it was awesome.

Let me put this in perspective; I can go to Google and search just the topics I need to watch, or read, and store it for later.

What is the quickest way to “make it” in business?

There is no magic pill, no quickest way to make it in business.

There is a right way though, that will help you avoid the pit falls, and speed up the process. First develop a good business plan, a clear and precise plan. Set goals, than take massive and consistent action to achieve your goals. Finally hire a business coach, to hold you accountable to your plan.

Do you Blog?

I started blogging around a year ago, when I first discovered what blogging was. I spent hours studying the blogging phenomenon, reading and looking at thousands of them from all over the world. I spent more hours commenting on them than actually writing myself. This question has made me rethink of writing again though.

What one piece of advice would you leave with our readers?

I would encourage all readers to take time for these four things:

1) Learn to manage time. We all have the same amount of time, the difference between the successful people and the no-successful, is what they do with the time they have. Remember this about time, once it’s spent, unlike money, we can never make anymore.

2) Find your Enduring Purpose, or Personal Mission. Answer the question, “why am I here?” This will serve as your internal compass, directing you through the hard times.

3) Build a dream list. Take a pad of paper and write no less than 50 dreams. Write the things you would love to do if time, money, and failures not part of the equation. This will expand and strengthen your imagination, along with programming your subconscious.

4) Finally take time out every day to review and reflect on your life. The majority of people just live their life with out taking time to improve or correct problems that keep reoccurring. This needs to be practiced early in the morning, before you get the day started. It should be a half hour of no distraction. You should also keep a journal of your thoughts for periodical reviewing. This is what we call working ON your life and not IN your life.

Paul Gruber is a Florida based achievement coach whose enduring purpose is: “To help people grow, by carefully hearing them, before being heard. Help others to dream, by teaching that the only difference between dreams and knowledge, is knowledge has limitation. Give to those who want to receive, using the principal that the teacher will appear when the student is ready, and continually be searching for the student.” To get in touch with Paul, call (941) 234-3553, or send an email to paulgruber@hotmail.com.

Make It Great! - My interview with Phil Gerbyshak

Benjamin Bach (Keller Williams Golden Triangle Realty) — Wed, 27 Dec 2006 18:06:57 -0600

Make It Great! - My interview with Phil Gerbyshak

Posted by Benjamin Bach on 7th August 2006

Today I am joined by Phil Gerbyshak of Make It Great!, one of the web’s premier personal development bloggers.Benjamin: How did you get started in the field of Self Improvement?

Phil: About 5 years ago, I decided I wasn’t happy with the path I was on, so I decided to pick up a few good books to try to get motivated and change my life. I was reading about 20 books a year, and over the past 5 years, I’ve turned it up to read 40-50 a year on self-improvement, motivation, business, and the like.

B: Were you always this positive a person?

P: No, I sure haven’t been. I used to be an energy sucker. It pains me to admit it, but I was until about 7 years ago. Most of the people I knew then probably wouldn’t recognize me now, and not because my hair color is different. My attitude has changed that dramatically.

B: How has Self Improvement impacted your business and personal life?

P: The more I learn, the more I grow, and the more I am able to help others. In a personal and professional setting, this has helped me impact more people because I better understand them. Dr. Steven Covey has said that the most basic human need is to be understood, so understanding MYSELF has helped me to understand others.

B: How can we Make It Great every day?

P: Attitude is everything. If you believe you can or you can’t, you’re right. I think that was originally attributed to Walt Disney or Henry Ford, and it sounds a bit trite, but it’s true. Believe you can make it great, and you will. That’s the big picture way to greatness.

B: How have you attracted your success with your blog?

P: I visit as many blogs like Make It Great! as I can (I subscribe to 300+ RSS feeds) and try to continue their conversations on their blogs, and trackback with my own conversation. I’ve asked many more successful people than I what has made them successful, what tips they would share, and most importantly, how I can help them. I pay it forward as much as I can. I try to do an interview a month on Make It Great! featuring a blogger I’ve found interesting, and I offer suggestions for improvement when appropriate.

I also write almost every day on Make It Great!, or at least bookmark some sites for later and add them to my site. I link out as much as possible, as there’s no way I could know everything, so I point people to different places who can help complete the picture.

Last thing I do is I leave my comments wide open, I don’t hide my e-mail address, and I respond to EVERY comment I get on my blog, and EVERY e-mail, even if it’s just with a “thanks for your comment” or “thanks for your e-mail.” I use my blog to build relationships, not just traffic, and that helps out a lot.

B: What “lifehacks” do you try to use to increase your productivity?

P: I am a huge believer in setting goals. I use the SMARTER method for goal setting.

S - Goals must be Specific and the more specific the better. State your goal in as exact of terms as possible.
M - Targets should be Measurable. That which you measure will be treasured, so think about what will be the measurement of your achievement of your goal.
A - Goals should have Accountability. Who or what are you accountable to for the goal?
R - Goals must be Realistic. Unrealistic goals will lead to discouragement.
T - Targets should be Time based. Decide your time-table for completion, and stick to it.
E - Goals should be Exciting. Exciting goals will be met far sooner than boring, bland goals.
R - Goals should be Recorded, in a place where you can look at it every day.

Also, I use RSS as much as possible for my blog reading.

I use the 3D method for e-mail: Delete it right away if it’s junk (turn on the preview pane, and please don’t send me an e-mail without a subject line), Delegate it to someone else who can help, or Deal with it (I use chunking where I set aside 30-40 minutes where I am dedicated to e-mail, and I respond to e-mails during this time). I am not perfect at 3D, but when I use it, it works very well.

I blog with Performancing for Firefox, and this makes a HUGE difference for my blogging, as I can do categories, formatting, and copy and paste text right into my posts.

Lastly is I only have a cell phone, no home phone, and I carry it with me always and it’s always turned on. I don’t always answer it, but having it on me at all times means I can often get the call right away instead of having to return calls later.

B: How can I go about writing a book and becoming a Web 2.0 Superstar?

P: Writing a book is not as hard as you’d think. Start by picking a topic you’re interested in, and start a blog. Read as much as you can FIRST, link out to other experts, and write your own ideas. Do this for about 6 months or until you feel you’ve found your voice. Write for another 6 months in your voice, then put your favorite 15 or 20 articles on the topic together in 1 document. Print out the table of contents and see what can be put together, what can be deleted, what needs improvement, and try to have 10-12 chapters. Have friends review it, and refine it. Refine it again, hire a real editor (go to your local English department at a college for an inexpensive one), and keep refining. Give the final decision up to someone else so when they say it’s done, you’re done. Use a service like http://www.lulu.com, http://www.dogearpublishing.net or where I used http://www.booksurgepublishing.com and make it happen!

I don’t think of myself as a Web 2.0 superstar, but I appreciate the endorsement Benjamin. I can share with you the tools I use for my blog, and maybe they will help you. They are all FREE!

Gmail - easy filtering and e-mail to track your conversations, and less spam than Hotmail or Yahoo.
Feedburner - burn your RSS feed, and GREAT stats for your subscribers to know what RSS reader they use. Plus other tools that are helpful for promotion.
Technorati - the mother ship of all blog sites. You must list yourself here to be taken seriously in blogging, and if you put Technorati tags on your blog posts, people can easily find you.
Performancing.com/firefox - right click, write your blog. Includes automatic Technorati tags, bookmark your post at Del.Icio.Us
Del.Icio.Us - social bookmarking, and I can automatically post my bookmarks to my blog.
Performancing.com/metrics - metrics package you can subscribe to via RSS and has great reporting capabilities.
Odeo.com - I put some of my podcasts up here.
Not free: Typepad - I host my blog here. If you can use Microsoft Word or Excel, you can use TypePad.

B: Can you describe yourself in less than Five words?

P: I’m here to help! Ask!

B: Can you leave our readers with an Action Plan to Make it Great! ?

P: Sure thing.

Think about what you REALLY want to be known for in your life, what you are known for right now, and take the steps needed in order to get to where you want to be.
Serve first, and don’t worry about payback. It’ll come around.
Find like-minded people who can help you, and don’t be afraid to ask them to help you.
Use the 80/20 rule to determine what’s really important and what’s not.
Finish what you start…or just get started! Whether you struggle with the beginning or the end of things you do, it’s important that you realize that you need to TAKE ACTION in order to really make it great! Life is not a passive sport, so ACTION is important.
Last but not least: Attitude is EVERYTHING, so smile MORE often.

B: Thanks so much Phil!

P: My pleasure Benjamin. I hope your readers enjoy our talk, and I encourage them to stop by Make It Great! and let me know if there’s ever anything I can do for them.

A relationship built on honesty, service and selflessness

Benjamin Bach (Keller Williams Golden Triangle Realty) — Wed, 27 Dec 2006 18:04:55 -0600

Posted by Benjamin Bach on December 27th, 2006

About six months ago, I received a package in the mail. It was another audio program from Richard Robbins International. This program, entitled ‘Quantum Leap’ (which is a popular phrase in the real estate world) was an interview Rich was doing with Christopher Invidiata who is one of the top 2 or 3 Realtors in Canada, and probably the #1 Realtor in Ontario (last year, he was the #1 team for Re/Max Canada). Christopher is an amazing person, who has several successful businesses, including part ownership in Re/Max Italy, and a luxury home building company in Oakville. He makes several million dollars a yea, and leads a very balanced life - dinner at home with his family every night is non negotiable.

I had the opportunity to speak with Christopher when I was in Vancouver for RRi’s IGNITE achievement conference this past July, and what was amazing was that when Christopher looks at you, you can tell he loves you. He walks around with love and gratitude for everyone and everything, and his life is a reflection of that.

In the interview, Christopher was telling the story of how he started selling real estate in Oakville, Ontario (which is a ’suburb’ of Toronto; it’s a short drive outside of the GTA). One of his first clients was a gentleman who was selling a large house, and had a conditional offer to buy a piece of waterfront property (Oakville has some of the nicest waterfront property in Canada… there are listings on the market in the $40 million neighborhood). Another offer came in, and Christopher’s client couldn’t firm up (with his current house still on the market) since he had just bought his partner out of their trucking company.

Christopher told the client to let the property go, and that they’d find another one. The client was relieved that he hadn’t tried to pressure him into making the sale (as a ’salesman’ would have done), and a bond was formed between the two of them because his client knew that he had only the best interests of the client at heart, and it wasn’t about the fee, or closing the sale etc.

I’ve listened to this interview at least a dozen times. I keep it in my car (although it’s currently on loan to my good friend Dave) and listen to it while I drive (it’s one of a few dozen audio programs that are in my CD changer at all times), and I always learn something new from Christopher. He’s built business that I aspire to own, and he is an incredible role model.

This afternoon I had a ‘Christopher Invidiata’ moment. A client of mine put in an offer on a duplex last week. The offer came back signed back, and we decided to meet this afternoon to discuss the strategy for our negotiations. My client came in this afternoon, and said that they were no longer interested in the property, but wanted to buy 4 or 5 smaller properties in Hamilton (a nearby city with lower prices and better cash flow - but less upside appreciation). After he laid out his vision for the next few years, we spoke about the best way to get there, and I agreed that this property isn’t right for him, at this point. We spent another 20 minutes talking about investments, and his five and ten year goals.

When our meeting was over, he told me he was relieved that I didn’t try to ’sell’ him on the property he didn’t want, just to ‘close the sale.’ He saw that I put his interests (what is best for his long term portfolio) above my short term interests (a large fee on the sale), and a bond had been formed. Even though we’ve only known each other a few weeks, he now knows that he can trust all the advice I give him on growing his wealth, since he knows I put him first. I’ve committed to him, and he’s committed to me. It’s an awesome win-win.

My enduring purpose, which can be found on the top left of my website, is to build relationships with and contribute significant value to my clients while attracting success with my integrity and actions; to help people I have relationships with achieve wealth, be it financial, emotional or spiritual, while living a balanced life of my own; and to give back to the world before it gives to me.

This afternoon was a good example of how my Enduring Purpose - which is both a reflection of how I want myself to act and how I currently act (sort of the standard I hold myself to) - has shaped my character. Thanks to looking for the true win-win I have strengthened a relationship with an awesome Client who wants me to build their wealth to massive amounts over the next several years - and I’m ready to do it.

If you’ve ever wondered about how you can start investing in Real Estate, email or call me, and I will gladly sit down and explain how you can get started. I also put on regular educational events where you can come learn how to start your real estate portfolio. Both the consultaions and educational events are free, so come out and bring a freind. It could change their life.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He is passionate about building wealth for his clients, and loves nothing more than to show someone who’s current renting how they can start building their own wealth. He wakes up each morning excited to fulfill his mission of building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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This entry was posted on Wednesday, December 27th, 2006 at 7:50 pm and is filed under personal growth, Real Estate Investment, Featured Post, Busines Tips, Weawlth Building. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Kitchener Waterloo Real Estate Market Update

Benjamin Bach (Keller Williams Golden Triangle Realty) — Tue, 19 Dec 2006 07:16:56 -0600

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Kitchener Waterloo Real Estate Market Update

Kitchener Waterloo Heat Index: 0.40

November brought us cold weather, and a slight downturn in the temperature of the market. New listings coming on the market slowed, with 3% less active listings on the market this month than last (which is a good thing when you’re selling your home!).

Buyers have an opportunity to get a great deal. The large inventory means better selection, and with a good number of homes to choose from buyer’s often have the upper hand in negotiations.

More detailed analysis to follow…

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He voraciously tracks the Real Estate market so that he can fulfill his mission of building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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10 Biggest Selling Myths Uncovered

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 18 Dec 2006 09:48:59 -0600

10 Biggest Selling Myths Uncovered

Selling a house can be a bit like raising a child - everyone gives you advice that may or may not be true for you. Here are ten myths uncovered: 1. Myth: You should always price your home high and gradually lower it if it doesn’t sell.
Truth: Pricing too high can be as bad as pricing too low.

You may think by listing high you can always accept a lower offer, but if you do, you’ll miss the buyers looking in the price range where your home should be. Offers may not even come in, because interested buyers are scared off by the price and won’t bother to look. By the time the listing price is corrected, you will have lost a large group of potential buyers. Your real estate agent will offer you a comparable market analysis. This is a document that compares your home to other similar homes in your area, with the goal of helping you to accurately assess your home’s true market value.

2. Myth: Minor repairs can wait until later. There are more important things to be done.
Truth: Minor repairs make your house more marketable, allowing you to maximize your return (or minimize loss) on the sale.

By and large, buyers are looking for an inviting home in move-in condition. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. You save nothing by putting off these items, and you may likely slow the sale of your home.

3. Myth: Once potential buyers see the inside of your home, curb appeal won’t matter.
Truth: Buyers probably won’t make it to the inside of the home if the outside of your home does not appeal to them.

Many buyers drive by a home before deciding whether or not to look inside. Your home’s exterior will have less than a minute to make a good first impression. Spruce up the lawn, trim shrubs and trees, and weed the garden. Clear the walkways and driveways of leaves and other debris. Repair gutters and eaves, touch up the exterior paint and repair or resurface cracked driveways and sidewalks. Place potted flowers out front, hang a wreath on the door and put out a pleasing welcome mat for added curb appeal.

4. Myth: Once potential buyers fall in love with the exterior look of your home, you put interior improvements on the back burner.
Truth: Buyers have no qualms about walking right out the front door within 60 seconds if the house doesn’t look like it could be theirs.

Remember that most buyers are looking for an inviting home in move-in condition. Spending a few thousand dollars for the right work on your home before you sell it, usually translates into a higher selling price and shorter marketing time. Your real estate agent will consult with you about the repairs and replacements that will benefit you most.

5. Myth: Your home must be every homebuyer’s dream home.
Truth: If you get carried away with repairs and replacements to your home, you may end up over-improving the house.

At some point, improvements that you make to your home can exceed what is customary for comparable homes in your area. For instance, there may not be another swimming pool in your entire subdivision. After spending $20,000 to install an in-ground swimming pool that you hope will lure buyers, you may find that it only raises the market value of your home by $10,000 because there are no other comparable properties to support the market value of the pool. As a rule of thumb, if your improvements push your home’s value higher than 20% above average neighboring home values, don’t expect to recoup the entire amount of improvements. Your real estate agent can advise you as to the scope of projects you might consider in preparing your house for sale.

6. Myth: Buyers are never swayed by sellers that offer creative financing options.
Truth: By offering flexibility in financing options, you may lure more prospective buyers.

You might consider offering seller financing, paying some of the buyer’s closing costs, including a one-year home warranty, or other buyer incentives. Your real estate agent, who has professional knowledge of local market activity, can help you decide what incentives, if any, to offer.

7. Myth: You are better off selling your home on your own, thus saving the commission you would have paid to a real estate agent.
Truth: Statistically, many sellers who attempt to sell their homes on their own cannot complete the sale without the service of a professional real estate agent.

Sellers who sell their home without a real estate agent often net less from the sale than sellers who use one. You visit a doctor when you’re sick and take your car to a mechanic when it needs repairs. It makes sense to contact a real estate professional when you are preparing to sell your biggest asset!

8. Myth: Good sellers should be available to guide prospective buyers through the home, giving the whole process a more personal touch.
Truth: Prospective buyers will feel more like the house could be theirs if the current owners are not there.

The presence of homeowners during a viewing can make buyers feel like they are intruding. They need to be able to visualize your house as their home, which can be difficult to do when they are acutely aware that it is still your home. Your real estate agent will be happy to look out for your home during open houses or showings.

9. Myth: Successful sellers insist that the terms of the sale happen their way or no way.
Truth: If you approach the sale of your home as the buyer’s adversary, you risk losing a perfectly solid buyer for no good reason.

Both you and the buyer have the same goal: for you to sell your home and for the buyer to buy it. Work with your real estate agent to approach negotiations positively and with a win-win frame of mind.

10. Myth: When you receive an offer, you should make the buyer wait. This gives you a better negotiating position.
Truth: You should reply immediately to an offer!

When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home. Moods can change, and you don’t want to lose the sale because you stalled in replying.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He voraciously tracks the Real Estate market so that he can fulfill his mission of building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Should I buy with Zero down?

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 18 Dec 2006 09:46:45 -0600

Should I buy with Zero down?

Interesting Q&A going on over at Inman News:

Q: “We are purchasing a $400,000 home that we want to finance with a 30-year fixed-rate mortgage. While we can more than afford the cost of a 20 percent down payment, I would prefer to keep my money in my investments instead. I was thinking of financing 100 percent (using an 80/20 to get out of paying PMI) but was unsure whether this type of loan structure would result in a higher interest rate on the first mortgage?”

A: Taking a 100 percent loan with a piggyback — a first mortgage for 80 percent of value and a second mortgage for 20 percent — would result in a higher overall cost than an 80 percent loan with a 20 percent down payment. In part, the higher cost will be in the higher rate on the second mortgage. But in addition, either the rate on the first mortgage will be higher, or the total loan fees will be higher.

To illustrate, on Oct. 17 I shopped for a purchase loan on a $400,000 property in California. If I put down 20 percent, I could get a 30-year, $320,000 fixed-rate mortgage at 5.75 percent, 1/2 point, and other lender fees of $4,770. If I went 100 percent and kept the first mortgage rate at 5.75 percent, the rate on the second mortgage of $80,000 was 8.15 percent, total points were 1.5, and other fees were $6,490.

Your intent is to invest the $80,000 that would otherwise go into a down payment. But a down payment is also an investment. The return consists of the reduction in upfront costs, lower interest payments in the future, and lower loan balances at the end of the period in which you expect to be in the house. I calculated the annual rate of return on investment in the case cited above, assuming you intended to be in the house for seven years. It was 15.6 percent before tax, and it carries no risk. Investments that good are not available in the marketplace.

Why is the return so high? When you take a 100 percent loan, even though you have the capacity to make a down payment, you place yourself in the same risk class as borrowers who have not been able to save for a down payment, and who have negative equity in their house the day they move in. The default rate of such borrowers is relatively high; they pay for it in the price of the piggyback (or in mortgage insurance); and you pay the same price as them.

You wouldn’t have your 17-year-old son purchase automobile insurance for your car. You wouldn’t buy life insurance and tell the insurer you are 10 years older than you really are. You shouldn’t take a 100 percent mortgage loan when you can afford to put 20 percent down.

By Jack Guttentag, Inman News

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo. He voraciously tracks the Real Estate market so that he can fulfill his mission of building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions about buying a home or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

Subscribe to Benjamin Bach’s KW Market Watch by Email

Interview with Keith Ferrazzi

Benjamin Bach (Keller Williams Golden Triangle Realty) — Sat, 16 Dec 2006 09:09:08 -0600

Keith Ferrazzi stopped by to chat today…

Posted by Benjamin Bach on December 14th, 2006

Today I have the great pleasure of speaking with Keith Ferrazzi, best selling author of Never Eat Alone (and Other Secrets to Success, One Relationships at a Time). Keith’s ideas have shaped the way I’ve gone about building relationships in my community. In business, your network is your net worth, and Keith is the leading expert on building a powerful network that helps everyone it touches.

Benjamin Bach: How did you get started in business?

Keith Ferrazzi: To get my very first job out of college, I had to convince someone to take a chance on me, which, frankly, is what most people have to do. Especially if you have a liberal arts degree. You’re so young and probably don’t have specific training for anything, but if you show someone you can learn quickly, you have a good attitude, and you will work hard to make them more successful, a lot of people will give you a chance.

My job at Deloitte Consulting, which is definitely where my career developed the most in those early years, came from a relationship I had began with the CEO during my summer internship between the two years at Harvard Business School. In Never Eat Alone I talk a lot about how that relationship came about, but the lesson I’d like to leave with you is that when you’re considering jobs anytime, but especially early in your career, make sure you think about the people you want to surround yourself with, and the people who are going to watch out for you and aid your development, just as much or perhaps even more than the job functions itself.

BB: When did you (and what made you) realize that networking and relationships were the most important factor in success?

KF: My dad was teaching me this lesson all the time while I was growing up. Maybe I didn’t realize it all then, but later on I certainly did. Whenever I look back at my successes and failures, they all involve people. People being generous to help me and people caring about me, and I’m so grateful for that. And the times when I fell on my face, it was usually because I didn’t build the genuine relationships I needed or I may have messed up a relationship in some way. If you’ve read Never Eat Alone, no doubt you’ll remember how I ticked off William F. Buckley, Jr., in college. It’s a perfect example of how relationships can also be your downfall if you don’t treat people the right way.

BB : How did this change things for you?

KF : The more I realized that relationships and people are the key to success and more joy in our lives, the more I had hope and confidence that I could achieve anything I set my sights on in this world. Some people struggle because they don’t have the information or advice they need, or they don’t have the motivation they need, or they feel like outsiders to worlds they want to get inside of. Well, once you understand how to connect with people and build real relationships for mutual benefit, you’ll always believe you can reach and connect with the people and resources you need to make your life better. It’s very empowering. People write to me all the time saying that Never Eat Alone has made a lot of things possible for them for the first time in their lives.

BB : In a review of Never Eat Alone I wrote a few months ago, I described it as the ‘definitive guide to Networking 2.0′; can you explain how the Never Eat Alone method differs from the traditional way of networking?

KF :Well, if you’re going to call it Networking 2.0, then it’s because it’s a new take on the concept altogether. I don’t like to use Networking as a verb. When people hear that, they think of the smarmy guy with a martini in one hand and business cards flying out the other, his eyes darting around the room always looking for a bigger fish to fry. No one likes people like that. No one likes Networkers.

I focus on building relationships. Real relationships based on having genuine interest in people, really wanting to understand what drives them and what they need and being extremely generous to make them successful without worrying about yourself.

So there’s that side to it, the mindset of giving without keeping score, not expecting a direct return on your investment, but believing in sort of infinite network that will give you back 10 times what you give others.

Then there’s another part of Never Eat Alone that’s more tactical and process-oriented. To be successful you need to go a few steps beyond just setting goals. You need to say Who can help me achieve those goals? And when you know those names, you can put more focus and effort into starting and building the relationships that will help you reach your dreams.

BB : Can you explain what the Relationship Action Plan is?

KF :I guess I already started to answer that question. A Relationship Action Plan is comprised of four things:

1 - Your goals
2 - The people who can help you reach your goals
3 - If you don’t know those people, how you’ll get in touch with them
4 - What you’ll do to make those people successful

You can do this in a spreadsheet, on a piece of paper, on the back of a napkin, wherever. I think this should become the new To Do list. I keep updating my RAP all the time, and I’m always making new ones for small things here and there. When you start looking at the world with a relationship mindset, you can’t help but make a Relationship Action Plan whenever you want to achieve something.

BB : Where do most people go wrong in their attempts to network?

KF :They try to Network rather than build real relationships. They aren’t purposeful and when it’s an empty attempt to talk to someone new, it’s difficult for both people. I said in Never Eat Alone there’s nothing I dislike more than when people e-mail me and say “Hey, Keith, I like networking too. Let’s meet for coffee sometime.”

I put that in my book, and I still get emails like that. Don’t do that. Building relationships will be much easier for you if you get focused on what you want to do, you have something interesting to say, and you show that you’re trying to make other people successful.

BB : What is the most important thing a young entrepreneur can do right now?

KF :Build the relationships you need before you need them. Go through the process I outlined above. Figure out who you need to spend time with to make your business more successful in the future. The thing that got my consulting firm started was personal relationships. No question. My first clients were people I had gotten to know years before and had invested a lot in them over time to show them I was there to make them successful. Then, when it was time to start my own firm, they were eager to work with me. So build it before you need it. I think Never Eat Alone will help you do that.

BB: Keith, I know our readers will benefit from your ideas and systems. I understand you just released a new tool to help people implement some of this?

KF:Yes, I just released a free online tool called LifeCoach 1.0. It will walk you through the same three steps I use when I advise people one-on-one to get started towards achieving your dreams. Check it out at http://www.keithferrazzi.com/lifecoachtool.

BB: Awesome. Thanks Keith!

Benjamin Bach is a Wealth Building Consultant in Kitchener Waterloo, Ontario, Canada dedicated to building wealth for his clients through smart Real Estate investments, and helping people attract success. He lives by the principles laid out by Keith Ferrazzi in Never Eat Alone, and he loves building mutually beneficial relationships with people he meets. You can read his business blog at http://www.benjaminbach.com and learn more about how to attract success into your life at his personal development blog http://attractingsuccess.wordpress.com. He loves getting emails from fans; you can send them to benjamin@benjaminbach.com.

The Path to Abundance

Benjamin Bach (Keller Williams Golden Triangle Realty) — Sat, 16 Dec 2006 09:07:35 -0600

The Path to Abundance

Posted by Benjamin Bach on December 15th, 2006

Last week I spent a bit of time in two different worlds. I was in Toronto for IGNITE, a business achievement conference put on by Richard Robbins International it was unbelievable. At the conference, I was surrounded by the most successful people in my business, and the energy reflected that everyone was dedicated to attracting success and giving before receiving.After the first day of the three day conference, I spent some time with my friends from my alma matter, the University of Toronto. Most of them are just finishing up their undergraduate degrees, and are figuring out what to do with their lives.

One of them is graduating this year and just landed an ‘awesome’ job as a researcher at a marketing firm making 40K a year plus benefits. One of them is going to do a Masters because he doesn’t know what he wants to do. Some are going to law school, because it’s what is expected of them. None of them know what they want to do.

Through speaking with a few of them one on one, it became clear that they all wanted to have a lot of money when they were thirty, but they didn’t want to work hard for it, nor did they have an idea of how to do it. They had no discipline, and no vision. They didn’t know why they wanted the money, just that they wanted it so they could have the ‘freedom’ to sit around and watch ESPN on a large screen plasma TV all day long.

I shared a message with them, one that Rich Robbins has given to me. What I shared with my friends has the potential to change their lives, and it has the potential to change yours if you grasp it. Freedom is being able to get yourself to do what you need to do when you need to do it.

For example, this past year I didn’t have the freedom to go to Italy for a month with my gorgeous girlfriend Sarah because I didn’t have the discipline to earn $200,000 in profit. Some people don’t have the freedom to play the piano, because they never had the discipline to take lessons and practice every day. Most people don’t have the freedom to send their children to a private school, drive a nice car or live in a nice home because they never had the discipline to be financially responsible.

The cool thing is that you can change this at any time. Once you make an irrevocable decision that today will not be like yesterday, you will start to do what you need to get where you want to go. I’ve made an irrevocable decision. I know that in 2007 I’ll have the freedom to continue with my dreams, because I have the discipline to build a great business.

Most people don’t success because they aren’t disciplined. Failure is errors in judgment repeated every day. Success is doing the small things every single day that will build a great business and an incredible life. Discipline is the path to abundance.

Benjamin Bach is a Wealth Building Consultant in Kitchener Waterloo, Ontario, Canada dedicated to building wealth for his clients through smart Real Estate investments, and helping people attract success. You can read his business blog at http://www.benjaminbach.com and learn more about how to attract success into your life at his personal development blog http://attractingsuccess.wordpress.com. He loves getting emails from fans; you can send them to benjaminATbenjaminbach.com.

Five Steps to Effective Goal Setting

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 06 Nov 2006 18:59:49 -0600

November 6th, 2006

The main reason I moved my business to a Keller Williams Brokerage was because of the unparalleled education and training opportunities provided by the firm. Unlike most brokerages, top notch training is always offered (our Market Centre offers a diverse array of courses designed to improve us and our businesses on a daily basis), and this morning I found myself immersed in a session on Goal Setting, Time Management and Accountability, which our fearless leader (read: Operating Principle), Jim Reitzel was facilitating. Not surprisingly, the material quoted Brian Tracy, a personal hero of mine (who I did an interview with for Young Wealth Weekly) who is a leading authority on personal performance, goal setting, leadership, time management etc. Brian preaches about setting goals, and I’d like to share some of his thoughts with you. Here is part of an article Brian wrote for GetMotivated.com (well, thats where I found the article):

Setting Goals
In numerous conversations with top salespeople over the years, we’ve found that they all have one thing in common. They have taken the time to sit down and create a clear blueprint for themselves and their future lives.

Becoming a True Believer
Salespeople are amazed by the incredible power of goal setting and strategic planning. Believers often accomplish far more than they ever believed possible in selling and they ascribe their success to the deliberate process of thinking through every aspect of their work and their lives, developing a detailed, written road map, and continually working towards where they want to go.

The Definition of Happiness
Happiness has been defined as “The progressive achievement of a worthy ideal, or goal.” When you work progressively, step-by-step toward something that is important, you generate a continuous feeling of success and achievement. You feel more positive and motivated.

You feel more in control of their lives, happier, and more fulfilled. Feeling like a winner, you will soon develop the psychological momentum that enables you to overcome obstacles and plough [sic] through adversity as you move toward achieving the goals that are most important to you.

Through working with people like Richard Robbins and my coach Paul Gruber, and reading books by Napolean Hill, Brian Tracy, Jack Welch, Jim Collins, Zig Ziglar, Angela Mondou, I’ve developed a 5 step process to effective goal setting:

Decide precisely what you want your life to look like in the following areas: Business, Financial, Family, Spiritual, Learning, Health, Intimate relationships
- ex To have a business which provides 10 GREAT! jobs and generates $100,000 in revenue per month; To have an amazing relationship with your spouse who you love dearly; To have assets exceeding $1 million that generate passive income.
- Do this for the short term (6 months) long term (3 and 5 years) and the horizon (10+ years). DREAM BIG
Write down all of your goals in each area in the present tense simply enough so that a child can understand them - It must be specific and measurable.
- ex ‘I go on one romantic dinner date per week with my spouse.’ ‘I earn $25,000 in monthly profit from my Real Estate business.’ ‘I have $5 million in assets that produce $400,000 annually in passive income.’
Create an affirmation out of your major goals, and recite them twice daily (once in the morning and once at night).
- ex Mine include most of my major life goals, including ‘helping 200 families move per year,’ ‘helping thousands of people build equity, allowing them to achieve financial freedom,’ ’sharing my knowledge with the intention of helping others,’ ‘providing comfortable accommodations for my tenants; engaging in win-win business transactions.’
Write down ten goals every single morning, in the same format as in step 2, and identify which one goal is most important right now.
Do something every single day towards the accomplishment of your major goal.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Important Annoucement from the Kitchener Record!

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 06 Nov 2006 18:58:42 -0600

November 6th, 2006

As you all know by now, I recently moved my Real Estate business to a new brokerage, Keller Williams Golden Triangle Realty. The following announcement appeared last week in the local Kitchener Waterloo area paper, The Record.

click for larger image

Here is the announcement I sent out when I joined the firm a few weeks ago

For Immediate Release

Benjamin Bach
Keller Williams Golden Triangle Realty Inc.,
direct 519 772 4376
fax 519 772 4377
benjamin AT benjaminbach.com
http://www.benjaminbach.com

BENJAMIN BACH JOINS

KELLER WILLIAMS REALTY

Kitchener-Waterloo, Ontario - October, 2006 - Benjamin Bach is proud to announce that he has joined the Keller Williams Family. The decision was simple; Keller Williams offers a completely different business model than a traditional brokerage house, and it is one that is focused on helping Realtors provide world class service to their clients, rather than the broker-centric ’sales’ mentality found at the older brokerages.Through the daily education and training provided by Keller Williams University, and the mentoring and coaching within the office, Benjamin is continuously improving his skills to ensure he always provides World Class Service to all of his clients. It’s no wonder Keller Williams attracts over 2,000 agents a month, and is the 4th largest and fastest growing real estate company in North America.

Keller Williams Golden Triangle Realty Inc. has over 80 agents, which makes it the second largest independent brokerage in the Waterloo Region. Since Keller Williams is a profit sharing company, everyone in the company has a financial interest in your success. As you would expect, education, mentoring, and coaching are all big parts of the office. It’s an exciting place to build a business.

Moving his business to Keller Williams has been an empowering decision for Benjamin and his clients. As an open book, profit sharing company with strong beliefs and values, the entire organization and all 70,000+ associates across North America are dedicated to ensuring every Realtor succeeds through providing the highest level of service to clients. Now that Benjamin has access to the best systems and technology in the industry, he can spend more time helping clients build their wealth with smart real estate investments.

CORPORATE SNAPSHOT - Year Franchised: 1991; Open Offices: 591; Active Agents: 70444; Profit Share to date: $148,714,708.07; Profit Share previous month: $5,611,136.69; Avg. Annual Agent Growth: 49% gain; WI4C2TS: Our Belief System In Action - Win-Win. . . Or no deal; Integrity. . . Do the right thing; Commitment. . . In all things; Communication. . . Seek first to understand; Creativity. . . Ideas before results; Customers. . . Always come first; Teamwork. . . Together Everyone Achieves More; Trust. . . Starts with honesty; Success. . . Results through people;

# # #

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Carnival of Real Estate

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 06 Nov 2006 18:55:33 -0600

November 6th, 2006

I can’t believe I haven’t gotten involved with this yet! This week’s Carnival is hosted at Landlord Shmandlord, a great site for those interested in real estate investing.

Have a look through the links below; they represent the creme of the crop from around the real estate blogosphere. Look for my posts in upcoming Carnivals!

The Pumpkin That Sold Me a House describes how a realtor can differentiate him or herself. Whatever industry you’re in, it is always important to focus on the customer’s experience, which is something that is too often forgotten. This post is short, but illustrates how one realtor, without exerting much effort, is reaching their customers in a very effective way.
Ugh. True Gotham has a really great read about a frustrating mess, at Co-op Board Antics-Redux.
In Defense of Landlords over at hotpads.com explains why rental prices are rising.
Mike’s Corner Web 2.0 for Real Estate Pros has some good commentary about adapting to change in Change is a good thing.
Transparent RE makes many much needed points in An Open Letter to the Title Insurance Industry.

Additional Posts:

This Old House is Worth $1.23 Million compares two houses, each worth the same, in two different parts of the country.
Are Zoomf and Nestoria imitating Trulia? What are British real estate sites like?
The National Association of Realtors Takes an Ad in the Wall Street Journal. “It’s a great time to buy or sell a home”? Doesn’t sound like sound economics to me.
Bloodhound blog refutes some of the ridiculous claims against Zillow by the National Community Reinvestment Coalition in Defending Zillow.
We often don’t hear from Stagers on the CoRE, but this week Home Staging, Rants & Ravings submitted a list of reasons to stage in Stagers.. are we red headed step children that get no respect?.
What’s the difference between the rich and the ultra-rich? Wisdom From Wencypoo’s Mental Wastebasket describes it in A Revolt of the Fairly Rich.
Zillow blog gives an overview of the Blog Business Summit containing many good tips for using your blog to help your business.
Nubricks.com has a little insight into Parisian real estate at The future of immobilier in the Paris property market.
Always a great read, The Landlord Blog has (one of many) great posts about Sifting Through Property Manager Candidates.
YoChicago today on What does it mean when a Chicago developer moves into his or her own building?
Real Central VA has a short but good post on Brand loyalty and quality customer service stemming from a recent consumer experience.

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October Home Sales up in Kitchener Waterloo

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 06 Nov 2006 18:54:18 -0600

November 6th, 2006

Local Real Estate Market Enters November Showing Renewed Strength

(updated with graph)

(click picture to enlarge)

The Kitchener Waterloo Housing Index rose 6 points this month, starting November at .40. Sales of residential homes rose 1.7% over October 2005, and the dollar volume of transactions this month was up 5.9%, to $112,474,829.

The average price of residential real estate rose to 233,980, which represents a 7.7% increase in prices so far this year. While some markets are softening throughout Ontario, our local market is looking very healthy.

For those with an eye for investing, there are 75 condominiums available on the market (and six under $100,000) in Kitchener Waterloo, all of which can be rented out for more than your mortgage payments… If you aren’t sure if you can buy a condominium as an investment property, talk to us or come out to our next Investment Seminar!

On the topic of investing in Real Estate, I held one of my celebrated Invest & Grow Rich: The Millionaire Real Estate Investor workshops Thursday night. This is a fantastic program where we work through proven models for building wealth through smart real estate investing. These models are based on interviews that Gary Keller and his team did with 120 Millionaire Real Estate Investors for his book. For anyone who has ever wondered if they could become a Real Estate Investor, this program is a remarkeable resource. Not only do you get an overview of the concepts, models and systems you can use and implement, but you’ll meet people who can form your work and leads network, as well as other investors who are always eager to share their knowledge so you can learn from their experience. We hold these workshops monthly; please contact us for more information!

What would you like to know about real estate in Kitchener Waterloo?
Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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The Real Estate Market - looking good

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 30 Oct 2006 12:30:18 -0600

The Real Estate Market - looking good

October 18th, 2006

Most people who know me know that I have a real estate business, and that I’m involved in the housing market on a daily basis. Whether I’m helping people buy and sell residential real estate, or consulting with an investor about the direction to take their real estate investment portfolio in, I’m afforded an excellent view of what is happening to the real estate market on a local level; through real estate blogs and industry news sites, I’m able to keep up with trends worldwide (although mostly in North America). Naturally, people are always asking me what I think about the current market, whether we’re heading for a bubble/crash/continued rise of prices etc.

This is a Great real estate market, for a number of reasons, as Darin Persinger points out:

Mortgage applications are up-great indicator that lookers are turning into buyers.
Mortgage rates are close to a 40 year low. This makes monthly payments affordable.
NAR reports pending home sales are up 4.3%.
Unemployment has declined to 4.6% and the economy is expanding. (ed: This is a US stat, but our local economy/unemployment in Kitchener Waterloo is similar)

It is true that we’re no longer in a ’seller’s market’ (which is where there are more buyers than sellers, and buyers ‘compete’ for homes), and are into a ‘buyer’s market’ (see here), but that doesn’t mean that are market has taken a turn for the worse. As Roma Luciw points out in the Globe and Mail (hat tip: Edmonton Real Estate Blog), we are trending towards a more balanced market, which is a good thing for everyone:

Signs that Canada’s housing market is in for a “soft landing” are building as the furious pace of activity in the housing market gives way to the most balanced conditions in more than five years, according to the Canadian Real Estate Association.

Although sales activity as measured through the Multiple Listing Service is easing, prices continued to shoot higher in September, with Edmonton displacing Calgary to take the top spot on the price gainers list.

…
The average price of a house in Edmonton reached $278,732 last month and $369,928 in Calgary. The Greater Vancouver area was by far the priciest place to buy at $527,504, while existing homes in Toronto sold for an average $349,149.

Prices actually fell in only four of the 25 major MLS markets: Newfoundland & Labrador, Windsor-Essex, Saint John and Durham Region.

…

Vancouver, Calgary and Toronto — the three most expensive cities in the country — experienced the largest drops in sales in the quarter, which helped average price increases slow to 9 per cent on a year-over-year basis from 11.3 per cent in August.

Sales activity in Edmonton and Thunder Bay rose to quarterly records in the third quarter.

CREA said the third-quarter numbers show that the housing market is becoming more balanced, spurring smaller price increases. The dollar value of existing home sales slumped 2.7 per cent in the third quarter from the previous quarter, although new listings climbed 3.8 per cent to 143,760.

“The quarterly decline in sales combined with an increase in new listings caused the resale housing market to become more balanced than in any other quarter in the past 5.5 years,” CREA said.

In the first nine months of the year, transactions are above year-earlier levels and rose 1.4 per cent. Sales are still on track to set a record in 2006.

Benjamin Bach is a Real Estate Consultant with Keller Williams Golden Triangle Realty in Kitchener Waterloo dedicated to building wealth for his clients through smart Real Estate investments, and helping people achieve success. If you are interested in how you can start your Real Estate portfolio, or have any questions and buying or selling a home, you can email Benjamin (benjamin AT benjaminbach.com) or reach him at 519 772 4376.

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Kitchener Waterloo Real Estate Forecast for 2007: prices still going up

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 30 Oct 2006 12:28:27 -0600

Kitchener Waterloo Real Estate Forecast for 2007: prices still going up

October 19th, 2006

Re/Max recently came out with thier annual forecast of local real estate markets across Canada. The entire report can be found here, and is a very interesting read.

Here is what they have to say about our local market in Kitchener Waterloo:

After an unusually strong start to the year, Kitchener-Waterloo’s residential real estate market has stabilized at more sustainable levels of activity. Balanced market conditions now prevail, with multiple offers the exception, rather than the rule. By year-end 2006, sales are forecast to experience a slight decline of about six per cent to 5,800 units, down from 6,147 one year ago. Prices are expected to climb close to nine per cent to $240,000, up from $220,511 in 2005.

Vendors who list their homes at fair market value are generally selling within 55 days, up from 47 one year ago. Purchasers are taking their time in selecting properties, thanks to a good supply of inventory currently listed for sale. Move-up buyers are a force in today’s marketplace, fueling demand for product priced from
$300,000 to $350,000, while first-time buyers are largely satisfied.

Bungalows on 50 ft. lot sizes are particularly coveted by retirees in the area, prompting more building out of town in areas like New Hamburg and Baden. Although sales of executive homes have tapered, the number of homes sold at $1 million plus has risen 165 per cent (three sales to eight).

Small-to-mid size investors are also active in the market, driving demand for higher-density product. Many are tearing down existing properties, rezoning for multi-unit residential, and constructing apartments with 16 to 20 units, particularly in areas in close proximity to the university.

Kitchener-Waterloo has one of the lowest unemployment rates in the province, as well as one of the highest population growth rates in the country – growing more than twice the national rate. Known as Canada’s technology triangle, Waterloo is home to 224 technology companies and another 404 companies providing related services. The diverse mix of manufacturing and service companies, a well-educated population and effective economic development collaboration among academia, business and government has made the area a success. However, layoffs at BF Goodrich earlier this year had an impact on the local economy, despite its diversity. Jobs created at the new Toyota plant in Woodstock may help to offset the full effect of the closure.

Incremental interest rate hikes throughout the year had little impact on residential real estate activity during 2006 and 2007 is expected to be no different. Concerns over the higher Canadian dollar and its effect on manufacturing are weighing heavily in the marketplace. Increasing inventory levels – about 10 per cent – will hold price appreciation in check in Kitchener-Waterloo. New construction is forecast to slow next year, especially in areas like Elmira, Heidelberg and St. Agagtha where local townships are struggling with subdivision expansion and preserving valuable farmland. In 2007, the number of homes sold in Kitchener-Waterloo is predicted to dip to 5,500 units, an eight per cent decline from 2006 levels, while average price is expected to hold the line at $240,000.

There are a couple of graphs embedded in the pdf file, which I’ll try to get on the blog later tonight.

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Kitchener Waterloo Real Estate Housing Market Update: Buyers market despite increasing volume of sales

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 30 Oct 2006 12:26:53 -0600

Kitchener Waterloo Real Estate Housing Market Update: Buyers market despite increasing volume of sales

October 8th, 2006

(click graph to enlarge)

The KW Housing Index measures the level of buyer intensity for single family residential homes listed on the Multiple Listing Service (MLS) in Kitchener-Waterloo. The Index is compiled using raw data directly from the MLS, and buyer intensity is measured by tracking the ratio between the number of firm and conditional sales in a rolling thirty day period, and the number of available homes listed for sale. A higher number (above 1.20) indicates more buyer competition for each home on the market; a lower number (under .80) indicates less buyer competition for each home.

The local markets ended September with an Index of 0.34, which means that the ‘buyers market’ we’ve been hearing about is now here. It must be noted that around 500 homes are selling each month, which means the low Index rating is a reflection of the swelling number of listings, not a major slowdown in sales. September sales of single detached homes were up 1.0% over the same time last year; the total dollar volume of all residential property sales was up 3.4% to $111 million; and the median sale price of all residential sales last month was $219,000, up 9.5%.

Waterloo East saw an increase of nearly 21% in sales over September 2006, and sales in Kitchener East are up 13.6%. Price appreciation for residential properties year to date in 2006 is 7.4%, although September prices are down slightly from August. Average days on market was up slighlty, 56 days vs. 52 days this time last year. Sellers are, on average, receiving 97.6% of their list price in the sale (this isn’t necessarily the original list price though, as we’ve seen a record number of price reductions in the past month).

The graph above shows the movement the local market has taken over the summer months, measured in different price ranges: $0-300K, $300K-600K, over $600K and the entire market (in blue). We are now clearly in a ‘buyers market,’ which means that clients looking to buy property may be able to secure very favourable terms, conditions and pricing on properties they are interested in. Sellers can stand out from the crowded marketplace by pricing their property correctly, selecting a Real Estate team with a proven systems based approach to marketing and selling properties, and utilizing the services of a Home Staging Professional to prepare the home for sale.

–

Endless Referals (third edition) by Bob Burg

Benjamin Bach (Keller Williams Golden Triangle Realty) — Mon, 30 Oct 2006 12:25:43 -0600

Endless Referals (third edition) by Bob Burg

June 28th, 2006

Endless Referals (Third edition) by Bob Burg

“All things being equal, people will do business with, and refer business to, people they know, like and trust.”Endless Referrals is all about getting people to know you, like you, and trust you, so that they’ll send endless referrals your way. Bob Burg wrote the preeminent guide to effective networking years ago, and this most recent version has been updated to help entrepreneurs, professionals and salespeople deal effectively with the new realities of doing business in the age of the Internet.

Regular readers of this blog will remember a book I reviewed a few issues ago, Never Eat Alone by Keith Ferrazzi. I declared that it was ‘the definitive guide to Networking 2.0.’ In the same sense, Endless Referrals is the definitive guide to Networking.

Burg goes through how to effectively work a crowd at a typical business event – he uses the example of a Chamber of Commerce’s ‘Business After 5’ events, but the system for working any gathering of people is the same – from what you need to do before the event, to how to follow up with people after the event. Having successfully implemented many of his teachings last week at my local Chamber of Commerce, I can say that the system works.

While I have never had a chance to ask all ten of them, Burg has provided a list of questions you should ask anyone you meet. These are ‘feel good questions,’ designed to get your new acquaintance talking about themselves and what they do. I mention that I’ve never been able to ask all 10, because they’re the type of questions that people will spend a half hour answering! Here is a sampling of them:

‘How did you get started in the Widget business?’
‘What do you see as the coming trends in the Widget business’
‘What sets you or your company apart from your competition?’

When you ask these questions (rather than answer their polite questions about what you do) people will go on and on. Ask how they get started, and prepare to listen for the next 45 minutes about their undergraduate experience, no matter their age. Who doesn’t love to write and direct their life story?

When you ask what sets them apart from their competition, you’ve given them permission to brag. Who else let’s them do that? The positive emotions they feel while recounting their stories to you will be associated with you, since you asked the ‘feel good questions.’ They will leave the conversation thinking about how charming you were, even though they spoke for most of it. Its not insignificant that you’ll also learn from their stories.

Burg also suggests that everyone design personalized note cards, which can be used as thank you cards or for any notes you might send prospects and peers. I designed my own, including my picture and my Enduring Purpose, and I always send them after an event, or whenever I meet a new prospect. I get an unbelievable response, because very few people ever take the time to send a handwritten note. To have a look at my card, you can email me at benjamin@benjaminbach.com.

Endless Referrals is a must read for anyone who is in the service business, depends on referrals and word of mouth advertising, looking to build their network or for people who want to become better at listening to others.

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