Tools Of The Trade: CutePDF Writer

CutePDF Writer is an other program that I use a lot. Not just for the cute name. Well a little bit for the cute name but also because it's very usefull. Best of all, it's a free download.

How would you like to take an excel spreadsheet and send it to someone as a PDF file so that you know the information you send will remain the same. Or a contract on a Word document so that you know when it is signed, the wording didn't get changed around.

Once installed CutePDF Writer will be set up as a device next to your printer. Take any documents and simply select CutePDF Writer as your printer and print. A pop up menu will show up asking you what to call the file and where to save it. How simple is that.

An other great program to use for your business.

Step On It: Stalling

There will always come a time where we will lose our momentum. It's important to recognised that we have stalled and take the necessary steps to get back on track. In my case, most of the time I can't ignore that I have stalled. Mostly because my husband constantly asks "What have you done with real estate lately."

If you have to be accountable to someone, it's harder to lose your momentum. If you are into this on your own, it will be easier to lose the momentum and not notice you have. Investors that have joined an investment group or keep in close contact with fellow investors will find it easier to stay on track.

For me, December is where I stall. I like to go big for Christmas, just like my mom has always done for me. So I will, purposely stop or slow down with my investing. That is one of the good things about investing in stocks or real estate; you can control how busy you are. My problem is after Christmas is all over, I tend to continue my no action routine. It takes me a long time to get moving again.

I know this is an issue, and I realise that taking a whole month off does not work well for me. So what do I do to avoid the loss of momentum? Well there are a few things I will try differently next time.

Planning: I will still want to dedicate a large portion of my time in December to Christmas and Christmas activities. That's important to me. But I will do this with a plan, I will designate a day to looking at listings, sometime in early January and write it on the calendar. I will schedule a marketing event, exposing me to investors to help me get the motivation going again.

Don't Stop, Slow Down: Since regaining the momentum as been so hard for me, instead of stopping my investment activities, I could just decrease the amount that I do. I probably dedicate 4+ hours a day to the real estate investing (including this blog). If instead, during the holiday season I cut that down to 1 to 2 hours. I'm still moving forward and it doesn't take a very large portion of my day.

These have been my struggles with keeping momentum and my solutions. Leave comment and let me know. What do you do to maintain or regain momentum.

What A Life: iPod Touch

I have two boys aged 6 and 7. More then anything they want an iPod Touch, like most of their friends and neighbours have. In the meantime they are reduced to scrounge time on mom and dad's iPhone and iPad when they are allowed.

Unfortunately for them, I insisted on two rules. One; they must pay for their iPod themselves and two; they must be ten years old. I'm not the most popular mom right now. They currently each have a Nintendo DS that can be found sometimes on the floor, sometimes under the bed, and sometimes they can not be found at all. It is my feeling that if they can't take care of their Nintendo DS an iPod is not going to fair any better.

From birthday money, they currently each have enough money for their iPod. They are now just patiently waiting till they reach the age of ten.

The other day, we read the comic book version of the book Rich Dad Poor Dad. It discusses how kids can get cash flow from creating their own business. That got them interested. From playing Cash Flow For Kids, they already know what an asset and liability is. They understand the advantage of purchasing "Doodads" with cash over credit cards; and they can recognise the trend of a stock. What can I say, they have been exposed.

So I decided to make a deal with them. If they come up with a business idea that they would operate and make money, I would allow for THAT money to go towards the purchase of an iPod now. They are not allowed to use their birthday money for an iPod, but if needed it could go towards the start up of their business.

In fact, we even located a website called "Kidpreneur" with information and resources for kids to start their own business.

So I asked Jerome, "What do you say? Want to do that?" His answer was "No, I'll wait till I'm ten." When I asked the same question to Patrick, he also answered in the negative. When I asked him why he said, "I'm scared."

Isn't funny that they would have the same excuse adults have for not taking charge of their financial future? They are either too scared or too lazy.

So in the meantime, we are discussing business ideas, and  waiting for them to either, take action or reach the age of ten.

Rich Dad Radio: Does School Make You Richer Or Poorer, Smarter Or More Stupid?

This week on Rich Dad Radio, Robert invited his youngest guest yet, Haley age 10.

Haley is currently attending public school, there was a school project where she had to pick a job. She raised her hand and said "When I grow up I don't want to have a job, I want to own a business. May I pick that."

"No!"

Well If that is not school teaching their students to become an employee, I don't know what is.

They also discussed how her spirit was crushed, when her project she submitted was degraded for lack of effort when the subject was something her teacher did not agree with.

What can our kids do when they do not get along with their teachers? I was always told to suck it up and make it work. To not be defiant and do as I am told.

Inspirational Corner: Meeting Robert

Fast Track as arrange with Robert Kiyosaki a Canadian book tour for Robert's new book "Why "A" students work for "C" students, and "B" students works for the government".

They where in Calgary last Wednesday on May 1st. Darren Weeks the founder of Fast Track, was up on stage and described how he came to meet Robert Kiyosaki and how Fast Track came to be, and how this book tour had been made possible. They planned the whole thing in only three weeks time.

Then Robert came on the stage. I really enjoyed hearing him speak. He as a way of not sugar coating everything that he says which is quite refreshing. He spoke of his days at school and of how he struggled. He spoke of his days in the war and how the ability to change saved the life of his battalion, when some others who did not make the necessary changes to their tactic did not fair so well.

He spoke of the future for the American economic system. He paints a pretty gloom picture, one he hopes he'll be proved wrong on.

He spoke a lot of how we learn from infancy on, and how, to give our kids an advantage, we should teach them about money between 0 - 12 years of age. The older we get the harder it will be.

Everyone who attended received his new book and got the chance to get it autographed.

I even shook his hand. Now I have to figure out how to shower without getting that hand wet.

Good To Know: Detailed Expenses

I would say half the time, if not more, when I ask for the income and expenses for a listed rental property I am given two numbers. One for income and one for expenses. You probably have as well, or you will.

If you are a seasoned real estate investor, you know to get more detail. If you are new to investing in real estate, be sure you request more details.

First you'll want to know what the property taxes as been in the past year or two. You will also need the have the cost for property insurance. Utilities, make sure all is included; water and sewer, electricity, heat, water heater rental if applicable and so on. Snow and garbage removal.

These next two, are the ones missing most of the time. Vacancy. I allocate a minimum of 5% of the total rental income. Even if the property is advertised as low or no vacancy. It also wouldn't hurt to contact local property managers and inquirer about the rate of vacancy in the area of the property. Maintenance. Unless it is a brand new building still under builders warranty, there is going to be maintenance fees. Even if it was brand new, there will still be clean up between tenants. I also allocate 5% of total rental income. If the previous owner is recording a higher amount to maintenance, make sure to run your calculation with the higher amount but you may want to questions why that amount is so high. Was it for renovations? If so what was done in the renovation? Was the work done with city permits? Was it to replace the water heater? What was wrong with the old one? Did it burst was there water damage?

Most of these questions I would ask once the property is secured with an accepted offer. Once it is under contract, it is the time to verify those expenses. Ask for copies of bills and statements.

What Are You Reading: Who Moved My Cheese

When cooking a roast my mother would trim off both sides of the roast before putting it in the roaster. One day, I asked her why she did that. She said, "that is the way my mother as always done it." So, I called my grandmother and asked her why she trimmed both ends of her roast before cooking it. She also answered, "because that is how my mother has always done it." So, I called my great-grandmother and ask her, why do you trim both ends of the roast before cooking it. She said, "because it didn't fit in the roaster"
 

We are creatures of habits. We will do something again and again because that is the way we have always done it. We rarely stop to evaluate whether it is supported with good reasons, we simply go about our business the same we always have.

Who Moved My Cheese? by Spencer Johhson. In this story, there are two mice and two "littlepeople" that live in a maze. Everyday they get up and go to a section of the maze where there is cheese. One day, when they get there, the cheese is not, it's gone. The mice, possessing simple brains and good instinct, do not over analyse the situation and takes off looking for new cheese. The littlepeople have complex brains and emotions, one gets angry and shout about the unfairness of it all, the other was quiet and in denial. The next day, they go again, hoping the cheese will miraculously be back, but it's not. They analyse the situation, discuss what happened to the cheese, but ultimately they do nothing.

This book is an amazing little book about dealing with change in your work and in your life. It is less then a hundred pages, so perfect for a quick read; no excuses.

It reminds me of the stock market. How many of us, invest in mutual funds? How many of us saw the whole of our investment dwindle to crumbs in the crash of 2008? Some of us weren't able to retire as planned. Now how many of us, knowing the risk in the stock market, are still contributing to those mutual funds every month or year, hoping it will there when we need it? Aren't we like the littlepeople going back to the same spot looking for the cheese that is gone?

If you haven't already, read this book.