Monthly Archives: August 2013

Why You Should Forget About Creating Benchmarks

real estate investingIn our Kelowna accounting firm we get asked all the time by clients for benchmarking, comparisons to others and things of that nature. As an accountant, it might seem strange that over the years I haven’t relied on them too much. Although Stats Canada releases data regularly that you can obtain online fairly easily to learn about different industries, I personally find that every business is unique.

You need to know approximately where you’re at but does it really matter to compare yourself to a vague average of completely different companies?

What matters is how you’re measuring up to what… Continue reading

How To Rob Your Bank: 3 Perfectly Legal Canadian Mortgage Tips

canadian mortgage tips

Click to download this book free

I recently had Scott Peckford, a mortgage broker in Kelowna, come into our office to do a presentation on his unique Canadian mortgage tips. Scott is the author of a book entitled How To Rob Your Bank: Perfectly Legal Tips To Save Money on Your Mortgage. It’s a really easy read and Scott has done an excellent job laying out the basics that everyone should know about a mortgage and about how the bank determines interest rates.

I’ve been teaching people how to pay off their mortgage faster for years but one thing… Continue reading

The Art of Aggressively Achievable Goal Setting

kelowna accountantI think as business owners we can all agree that goal setting is extremely important. I personally think that setting goals that are “out there” is great but I also believe you have to have milestones along the way. If you put a goal out there that is so far out that you determine it’s not achievable in your mind, the possibility of you actually achieving it becomes significantly less.

Put that big goal out there and then create milestones or markers along the way that are smaller and which are aggressively achievable. I don’t want a milestone that… Continue reading

Creating The Proper Structure For Your Real Estate Portfolio

photo 2This month’s issue of the Canadian Real Estate Wealth Magazine (August 2013) has a special feature on structuring your real estate portfolio that could save you thousands of dollars. This is a topic that I’ve personally covered on my blog but this article goes into a bit more depth to help you understand how your investment structure affects your cash flow and taxation amounts.

A few topics discussed in this article include:

  • Creating a structure that holds your properties in a way that creates the least amount of taxation possible
  • Considerations with joint venture partners
  • Eliminate or reduce unnecessary risk… Continue reading
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