Coaching Corner Tip #5

The Day Dreamer’s!

Have you been day dreaming? Do you think that real estate is a get rich quick scheme? Do you think that it will be easy to find good deals? Do you think that people will give you good deals just because you’re asking for them? Well the answer to this is that if you answered yes to any of these  questions, you’re day dreaming!

Real estate is not a get rich quick formula for you to become rich, it is simply not! It will take time, it will take energy, it will take sacrifices, it will take discipline, it will take know all, and nobody will give you a deal served on a silver platter.

You have no idea how many students call me and ask me if I would have a deal, in a great location, at a great price, with vendor take back ,that they could buy with basically no money down! … Continue reading

Coaching Corner Tip #4

Should I rely on Cap Rate to buy my properties?

Very often you will hear real estate agents and at times real estate investors recommend that you purchase properties based on a Cap Rate. Should you make an offer to purchase by simply multiplying the valuation and obtaining a purchase price?

Absolutely not! The first challenge that I have about using a Cap Rate as an indicator of value, is the fact that 99% of the time the information that is used to calculate the and oh why is wrong! … Continue reading

Coaching Corner Tip #2

The Dating Principle!

Often you will ear new investors and at times seasoned investors say, lets make a low ball offer (making a 60% of the purchase price offer) or use the shotgun approach (making tons of offers at a low price to see what will stick)  to making offers. I believe that this is totally wrong!

The only way to get to make a good deal is for the vendor to like you and for you to find a way to negotiate hard. … Continue reading

Coaching Corner Tip #3

Never go see a property before making an offer!

A lot of people actually will not make an offer to purchase on the property until they have seen the property itself. Again I believe that this is a mistake that new investors and sometimes seasoned investors are doing.

Why go and see a property one of minutes from home or five hours from home without you knowing if there is the possibility of an agreement of purchase and sale?

Why would you go see a property and then start the negotiation to find out that the vendor is non negotiable, that does not want to help on financing, and that there is no possibility to make a good deal. … Continue reading

Spinning your wheels

If you know what your outcome is and you have an established plan you will not feel like you are s[inning your wheels. A student of mine a few weeks was frustrated about the fact that things were not moving fast enough for him. You felt into his voice that he was questioning the whole process of getting into real estate. He was doubting himself and the direction that we had chosen.

At the start of our mentoring we had established what they wanted to accomplish over a period of 12 months. then we looked at what they needed to do and what needed to happen in order for them to get there, we split up the year into 4 quarters and established objectives. They wanted to buy 10 to 15 units within 12 months.

I told them that this was really realizable if they followed the plan that we put together. They were happy with it. But after 3 months they had a 36 unit under contract and a 15 unit.  They werre at the due diligence on both properties, and they knew that either of them might not go trough.

Yet they were frustrated because they had not found anything within the last 3 weeks! Yes weeks. They had literally stop looking, preying that one of these 2 building would go trough!

So they were at a stand still because they stopped looking for properties and making offers. I was a bit upset with them! What do you expect, you are getting emotionally involved with the acquisition of the property.

So this was my advice, on your desk, on the desk, you must hace 15 empty file folders, they must each have an offer to purchase in, when an offer goes dead your job is to keep on looking for properties. Your folders must always be full!

If you had 15 deals to work on you would be busy, and not question the process!

Your Coach


Should you shop your mortgage rate trough a broker?

Is shopping for the best rate in your best interest

I was talking about this with my mortgage broker and she sent me this article that she wrote and i thought that you should get it!


This is, in most cases, very damaging to an individual’s credit. MORE damaging than one might imagine! I have seen many personal profiles and credit bureau reports and I have seen credit scores drop 10-20 points from just inquiries (that is per inquiry). If you go to 3 brokers and 3 banks you could potentially see your score drop from 750 to 630. This could undermine your effort of getting a mortgage from a type “A” lender, as the typical minimum score is in the range of 650-680. It also looks very suspicious to a lender when they see multiple banks, lenders & brokers names listed on your credit report. When a lender or a broker pulls a credit bureau report, the company name is listed under Inquiries on your credit report. Banks have to question if there is a potential issue as so many different institutions are pulling your credit. Are you seeking a lot of credit at once? Are these other institutions declining you? Is there a potential risk or concern? This situation, more often than not, leads to the word DECLINE!

Credit scores for real estate investors are really critical for a successful venture. Whether you are pursuing residential or commercial real estate, this is one factor that must be in line when pursuing credit (there are other options when one has a lower score, however, rates will be affected and therefore your cash-flow as well).

For the real estate investor or anyone looking for the best rate on a mortgage, is it really that important to save 0.15% or less on your rate? For example, based on a $100,000 mortgage and a 25 year amortization, on one hand a Broker or Bank A is advertising 2.99% for a 5 year term and on the other hand Broker or Bank B is offering 3.14%. Although this appears significantly different, the actual monthly difference is only $7.72 and over a 5 year term it is only $463.20. Is it worth the time of shopping several Banks or Brokers, running around and having your credit report being pulled again and again for the small difference in the grand scheme of things? The industry can offer different rates from Broker to Institution, however, it is all within a very minor difference. You will not find any mortgage professional that will offer more than a half a percent difference in the business. If you do, then something is not right and perhaps you should read the fine print.

Building a relationship with your Broker will certainly be worth more than $7.72 a month for 5 years. A good real estate investment mortgage broker is really another key aspect in your business. It is your buying power! If you are purchasing multiple properties and seeking constant credit, having one broker work for you and know your business is critical and beneficial. They Know where deals have been sent and what information has been sent. You also have the comfort of knowing that they will only be pulling one credit report periodically. This report can go to several lenders without the concern of tarnishing your credit. Find a broker you are happy with, one that understands your business, has access to all types of funds, (residential, commercial, private) and truly understands real estate investment financing. Having a Broker that can assist and facilitate all investment properties (not just residential) would be a big asset. Don’t shop for the sake of shopping. You will be saving thousands in fees, appraisals costs, gaining from their knowledge and keeping your credit score intact.

written by Carmen Campagnaro
Pro Funds Mortgages
Mortgage Agent and Real Estate Investor.
Servicing real estate investors for over 15 years in residential, commercial and private lending. 1.888.330.3866

Taking Action

How important is it to take action? Why is it so important to seize the moment and not look for reasons  as to why not too accomplish something.

I was at an event this weekend where students have purchase a program on how to write a book in 10 weeks and become an author in that period of time. The promoter of the event wanting to help them actually offer them the help of other authors that have completed their book in their 10 week period.

It was funny  listening in on the excuses given by the participants, the most common one was naturally I do not have the time.

Amazing I guess they have less than 24 hours per day where the balance of us have this full day of available time. My thoughts on that was very simple, the purpose of them writing a book was to give them authority in the fields of the were in!

They just simply couldn’t find the time to write the book. Now let me ask you a question we all know opportunities come and go and you must be ready to take them.

Have you ever met an opportunity or actually missed an opportunity by minutes, hours days or even months? Imagine if that day that moment there was an opportunity out there that the only thing that you needed was for you to accept or take that opportunity and move forward and the reason why this did not happen was simply because you are not committed the time needed to write your book or prepare a business card or have a website, imagine losing that opportunity just because you do not commit to it.



Marc Mousseau talks about “Setting Specific Tasks”

Sunday I was sitting with an other coaching student , planning her 2014 year! She had great plans, we outlined her goals!

There was one challenge, she underestimated her goals, she wanted to acquire 125 units within 5 years. We all, say as coaches that you should write down achievable goals, but don’t underestimate them by being scared of not achieving them!

As we sat down and reviewed her goals i helped her re-established her new goals at 300 units. Then we  set time frames, by starting with the end in sight, and moving backward. we established a realistic plan.

We brought this plan all the way back to where she wanted to be in the first 2 weeks.  Then we precisely  wrote what had to be done  in order to get to her end result  (in 2 weeks).

Move every specific goal to it’s smallest nominator, then implement and cross off each action that has been performed!