Tag Archive for: financial planning

We regret to inform you

That you did not get that job, have not been accepted at XYZ University or did not qualify for the loan. My older brother called these PFO letters and for good reason.  Thinking back they mattered so much because you had no plan B. What would you do if you did not get that job, get that loan, or if your child was accepted at the university and does not have a student loan and you have nothing saved up to send them . Do you  have a slush fund, 60-90 days of income put away that would allow you to live? Are you asset rich, but cash poor, or just struggling to get by? Either way there is a solution and there is no time like the present to do something about it.

Stop walking around looking at your feet! Set your eyes on a goal toward the horizon and go for it. It’s too easy to get caught up in living day to day that we forget to plan ahead. However before you know it, you are nearing retirement with nothing saved to support yourself in your golden years. What do you do then, live off family or the government? The vast majority are either dead broke or dead once they reach 65, and to me that does not sound all that appealing. Take the time now before it’s too late. Design your ideal future.
I would suggest that you contact my friend Steve Cox a certified financial planner who can help you develop your road map to get you where you want to go. Once you have that we can sit down, if you need to, and help you restructure your debts so you can eliminate them more quickly and get on the fast track to building true wealth and financial freedom. I look forward to hearing from you.
Cheers,
Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Everything including the kitchen sink!

When you are opening your own business, there is a lot to think of. You normally start with your business and marketing plans. They most people spend a lot of time looking for the perfect location as business books drill into your head that it’s location, location, location. While it’s true that location does indeed help with the initial success of most businesses. What you also have to consider that pays a very big roll in your long term success is the proper amount and type of financing.

I have seen my fair share of business plans, and they tend to be on the overly optimistic side. While this is all well and good, the general rule of thumb is to hope for the best and plan for the worst. Check out this link to find out information about helping you get going in the right direction regarding your business plan.

Now as for business financing, there are several types. What I want to focus on for the purpose of this article is financing for FF&E. This is not Frank, Francine & Edward, but rather Furniture, Fixtures and Equipment. Or sometime referred to as the whole ball of wax. This will allow you to finance everything right down to the kitchen sink and potted plants. The proper amount and type of financing will allow you to sail through the challenging times, meet commitments as they arise and properly execute your business and marketing plan to position you for long term success.

Take a look at where you are and where you want to go. Realize that all successful business take advantage of expert advice to help them along the way. For expert help regarding the financing of your business, please feel free to give my office a call. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Double the Pleasure!

Double the fun! Get your mind out of the gutter. In this situation it’s about the power of great combinations. Like Macaroni & Cheese, Burgers & Fries, Romeo & Juliet or in this case “Working Hard and Working Smart”! Working hard without working smart is sort of like the fly who keeps banging up against the glass thinking it will get a different result the next time around. How many times have you gone about doing something the same way as before but hoping that you would get a different result? If you were not aware, that’s the definition of insanity!

If you are working hard but not working smart you are just spinning your wheels, you go a few paces ahead only to have to take a few paces back just down the road. Don’t you think that it’s about time that you throw in the towel, no honestly I am kidding. One of the cornerstones of success is to take massive action. Notice what’s working and what is not, and be flexible in your approach, and to change what is not so you can adopt a new strategy to get you to where you want to go.

Romeo and Francine, just don’t cut it, nor does Butch Cassidy without the Sundance Kid. The result is much greater than the sum of it’s parts.

Working hard and working smart are the key, it’s the one two combination. If you find yourself struggling to get ahead financially, feel like you are living to just pay your bills. There is a better way. Feel free to contact my office, you never know we may be able to help. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Need a new career direction?

How about joining my team as a mortgage broker? It’s a challenging yet rewarding career. As an independent contractor, you get back what you put in to it. Below are some frequently asked questions: Feel free to contact me if you have any questions.

Is this a full time or part time opportunity?

This is a full time career opportunity.

Is there a base salary?
No. The position is entirely commission based.

What can I expect to earn?
Its difficult to say. As a commissioned agent your income is based on your performance. Your commissions are tied to the fees earned on a given transaction. The average loan fee collected on a loan transaction ranges between .75%-2.5% of the loan amount. Your commission ranges from 50-75%% of the net commission. Your commission rate is based on your production .

Is a license required?
Yes it is necessary to obtain a license through Service Nova Scotia the Department of Municipal Relations. You will also become a member of the Canadian Association of Accredited Mortgage Professionals.

Can I earn any money while I am training?
Yes you can. Since Craigburn holds both the Broker License and the CAAMP membership , you can start earning commissions right away. Ask your mentor for the details.

Will I receive any hands on training?
Yes, the best way to learn how to successfully complete a real estate mortgage transaction, is to follow one from start to finish. You will shadow a licensed agent from initial client interview to funding of the loan.

Will I need to work from your office?

No, many of our agents work from their home office and spend time in the field. We all remain in contact though the use of phones, faxes, email, Internet web sites and overnight delivery.

Where do I meet my clients?
The easiest and most efficient place to meet clients is at their home or place of business. This allows you to gather all the needed information without having to set up additional meetings. If your client prefers, you can schedule a meeting at our office.

Can I use the internet?
Yes, your clients can get information and they can apply online.

How will I generate business for myself?
We will show you. One of the most important parts of the training is prospecting and lead generation. We will show you how to benefit from the various market techniques and the use of the internet.

What types of properties can I work with?
Both residential and commercial. We can arrange loans on residential property, such as single family homes up to 4 units, commercial properties, such as larger apartment buildings, office buildings, stores, storage, etc. can also be arranged.

What types of loans are available?
You will be able to place top quality “A” paper loans at the most attractive rates and terms as well as the “B-C” type of loans for borrowers with credit problems or unusual properties. You will have access to a very wide variety of loan programs and lenders.

Is Craigburn Capital a direct lender?
No, Craigburn Capital is an independent broker . As such we broker loan requests to mortgage lenders, both institutional and private. We work with an ever growing number of lenders to best meet the needs of most of our clients.

Please contact me if you have any questions, as always I look forward to hearing from you.

Cheers,
Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

No Excuses!

We have all heard this, but how many of us live by it? If you are not doing anything about the current state of your life, you are obviously making excuses, to yourself and to others.

What is your excuse if you are not in shape?

What is your excuse if you are not in the best relationship?

What is your excuse if you are not making sales?  Your kids don’t listen, you drink too much, you hate you job, you are broke?

If you sat down long enough and really thought about it, it’s nobody’s fault but your own. You and you alone are responsible for the current state of your life; and guess what? Only you alone can do something about it. We all have only 24 hours in day, no one gets more.( My friend Brad thinks he gets more cause he works with people in 5 time zones!) If you want to get in shape, make the decision and do something about it. I have 3 kids and work 10-12 hours a day so I get up at 5 am and go to the gym, some days it’s the only time that I can do it. Want a better relationship, then work on improving you! You can’t change some one else with ease. Want to make more sales, do more prospecting and learn more about how to connect with your target audience.

Lastly and certainly not least, if you are struggling financially, then sit down and take stock of where you are right now. How much are you bringing in each month, what are your outgoing expenses and can you cut back, where can you add more value and increase your income? Think of everything. If you want help brainstorming idea’s feel free to give me a call. I look forward to hearing from you.

Live with a take charge attitude, take no prisoners and make no excuses!

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Daily Grind

Not the coffee and magazine shop in Halifax, which is a great place to kill some time between appointments. What I mean here is what you do on a day in day out basis. Are your daily routines helping you get ahead, tread water, or allowing you to fall further and further behind? This should not take you that long to figure out. Are you paying your bills down and saving money, just keeping up with your bills or falling behind. if you fall into the last two options, now may be time to do something about the direction you are heading.

Have you explored any and all options to increase your income? Do you know accurately how much money is coming in and out each month? Most important of all, are you willing to do what ever (legally of course) to improve your lot in life?

Assuming you answered an affirmative to the last questions, keep reading, if not no one can do it for you, come back when you are ready. What ever the endeavor, you first need a plan. By this I mean, you need to know your objective, what you want to accomplish. It must be crystal clear, and you should see yourself as already having achieved it.  Next take massive action, act as if you could never fail, in fact you can only fail if you stop trying. Notice what is working and what is not and persist until you succeed.

Actually it sounds a whole lot easier that it is. Everyday you are pulled in a thousand different directions. This mainly happens if you are living without a compelling or dominating goal in life. Keep focused on where you want to go, and everything else will come into place. Decide right now where you want to be physically, financially, spiritually or emotionally. Write out your goals as clearly and as concisely as possible, hold them in the forefront of your mind and get going.

If one of your goals involves improving your current financial state, then take some action now and contact my office right away. We will take an in-depth analysis of your current situation and help you develop a plan to eliminate all your debs as quickly as possible. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Sales Pitch

We all love to buy, but generally we don’t like to be sold. I like to compare it to driving, unless I am in the driver’s seat it’s just not the same. Let’s just face it we have all been sold to at one time or another. It’s just the experience of the sales process that some of us have trouble with.

You have to admit that you are almost pre-programmed to say that “Thanks I am just looking” when a sales person comes up to you at a retail store and says “May I help you with anything”?. Think of it for a minute, would your response be different if their approach was different?

When I first started as a broker almost 7 years ago now, my first branch manager (who was more of a bull in a china shop kind of salesman) at them time told me to call people up, tell them what I did and expect business to be thrown at my feet! Not only did that not work, I was not comfortable doing it. I turned to Google and did a search for cold calling techniques. I stumbled upon a site now called unlockthegame. Had a great chat with Ari Galper and hired him to teach me his process. The rest they say is history, more or less a night and day difference from what other sales trainers teach.

I have implemented his approach in all my dealings with clients and also use it in almost all my communication but mostly unconsiously. Don’t get me wrong, there are still some people using old fashion sales approaches and are doing quite well. If you want to improve your financial postion and want to be “sold” there are a number of people who I could refer you to, however if you want to uncover the root causes and find a solution that meets your need, then feel free to give me a call. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.
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It's not you, it's me!

Chances are if you have not said it in your life time you have had it said to you. However in this instance I am using the expression to refer to the state of the economy. Is it you or the economy that has the biggest effect on your financial future? Be very careful how you answer that, it is almost as dangerous as linking your mood to the current weather forecast. Ultimately what you should realize is that one has no effect on the other in most cases.

As I talked about yesterday there are industries that have experienced challenges because of the current economic situation. Some have suffered more than others. However there are still exceptions to this rule. I know of real estate agents who are thriving despite some of their colleagues experiencing great difficulties. The same can be said about mortgage brokers, financial planners, insurance agents, stock brokers and most other fields effected the most by the economy.

The point that I am trying to make here is that we alone are responsible for our own destiny. Sure outside forces may present some challenges, but it is up to us to handle them and succeed in spite of them. One of my favorite quotes from Napoleon Hill’s book “Think and Grow Rich” is this ” Every Adversity brings with it the seeds of an equivalent advantage”. In layman’s terms it is simply put, when one door closes another one opens.

If you want to close the door to financial challenges or are looking for help in guiding a course through a particular stormy sea, please feel free to give my office a call. As always I look forward to hearing from you.

Cheers,
Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.
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Recession Obsession!

Every where you look people are obsessed with this so called recession. It took them forever to declare that we were in one. Now everyone wants to be the first to say that we are on our way back out. However if you speak too soon, and without the proper amount of facts, the animal that is our stock markets will jump up and bite you if they do not agree. Just as they did on Monday.

However while I regularly meet with business owners, I always ask them how their business is going. Invariably most of them are telling me that business is great. Now that does not apply to all fields. My friends in the real estate game and fellow mortgage brokers have had better times. As tough as it may seem to be here, those in the west are feeling the pinch more than we were.

While we all have been tightening our pocket books it looks like things have been improving. We are well on our way to a recovery based on the recent MLS data. (see below) Almost every market in Canada has posted gains except for 4 western city’s.

Some people are suffering and some are not, but their is still hope. If you are looking for a way to improve your current situation as soon as possible, please do not hesitate to contact my office. We will analyze your current situation and develop a plan to help you get to where you want to go. As always I look forward to hearing from you.
Cheers,
Pat
p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.
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Average MLS resale price for local markets

City June 2008 June 2009
Halifax $235,312 $240,093
Saint John, NB $170,199 $172,731
Montréal $269,257 $275,578
Ottawa $298,336 $307,793
Toronto $395,918 $403,918
Hamilton/Burlington $287,249 $297,117
Winnipeg $206,327 $212,542
Saskatoon $310,386 $276,867
Calgary $418,866 $392,601
Edmonton $341,376 $328,285
Vancouver $611,613 $575,949
Victoria $476,639 $476,686

Source: Canadian Real Estate Association

Do It Now!

It’s an attitude as well as a work ethic. Some would rather put off till tomorrow what they do not want to do today. Funny thing is that these same people are the ones with next to nothing in savings, buried in debt and living pay check to pay check. The one’s who do it now are much better off. They are typically high achievers with no holds barred attitude. They know what they want and they go for it with laser beam like focus. Which one would you rather be?

Actually it is a lot easier that you would think. The best way to approach it is to prioritize your day, then start at the top and work your way through. If you find yourself getting sidetracked, don’t beat yourself up remember your only human. ( Dog’s reading this need not apply!) Have a list, better yet pictures of your goals around where you work. They will help snap you back when you get off track. Take action as if you knew you would never fail. Fact is you have a far great chance by doing than by thinking about it and not doing it at all!

As I am a Cape Bretoner, they would say at home ” Get off your arse and do something”! We only come this way once, how about making it a memorable journey. I don’t know anyone who gets paid for thinking about doing something.  Take baby steps if you have to, but at the very least take some action. You will find that everything becomes easier, and achieving your goals will happen quicker.

If one of your goals involves improving your current financial state, then take some action now and contact my office right away. We will take an in depth analysis of your current situation and help you develop a plan to eliminate all your debts as quickly as possible. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.
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