Rick Genovese Investor Newsletter - August 2019 Edition 18

Rick Genovese - Real Estate Capital Investment Specialist

Virtuoso Capital Ventures

rickg@VirtuosoCapitalVentures.com
604 603 0929
http://www.virtuosocapitalventures.com/

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Jinjoo's Summer Picnic and Boat Ride :-)

 

Jinjoo loves a picnic and boat ride.

Makai bought this kids raft years ago for Jinjoo and it took him a while to get used to it but now he loves it,,, as long as his feet don't get wet.

When we first went swimming with Jinjoo without the raft he swam fine but didn't like swimming, he would head for the shore as soon as he was in the water.

Then Makai bought the boat for him to ride in as we swim.

Well who knew he would love the boat so much, he gets to be in the water, without getting wet, happy happy.

Anything to keep Jinjoo happy :-) 

This picture is at Crescent Beach, below the 24th Street Steps, this is a Dog Friendly Beach so go grab a raft and see you at the Beach with your Pooch.

Enjoy, Rick G.



Foreclosures

 

August 2019 Abbotsford Attached
August 2019 Abbotsford Detached
August 2019 Burnaby Attached
August 2019 Burnaby Detached
August 2019 Chilliwack Attached
August 2019 Chilliwack Detached
August 2019 Commercial
August 2019 Coquitlam Attached
August 2019 Coquitlam Detached
August 2019 Land
August 2019 Langley Attached
August 2019 Langley Detached
August 2019 Maple Ridge Attached
August 2019 Maple Ridge Detached
August 2019 Mission Detached
August 2019 Multifamily
August 2019 New Westminster Attached
August 2019 New Westminster Detached
August 2019 North Vancouver Detached
August 2019 Pitt Meadows Detached
August 2019 Port Coquitlam Attached
August 2019 Port Coquitlam Detached
August 2019 Richmond Attached
August 2019 Richmond Detached
August 2019 Surrey Attached
August 2019 Surrey Detached
August 2019 Vancouver Attached
August 2019 Vancouver Detached
August 2019 West Vancouver Attached
August 2019 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland, just click on them to check them out.

There are some great deals to be had for either your own home or as a rental property. 

If you find a property you want to look into do some reading about the process of buying a foreclosure first.

There are lots of great articles on the internet about how the process works and what the cautions are.

Here are some links to get you started;

Macnabs - Step by Step-How to Buy a Foreclosure

REW - Risks and Rewards of Buying Foreclosures



Mindfulness - Corporate Culture and Personal Values

 

After spending 18 years and 17 days working in someone else's business I became "Financially Independent" as of December 14, 2017.

That was the best Christmas gift of my life :-)

Ok so NOT "Financially Free", but "Independent", my personal Real Estate Portfolio was now scaled to the point that the revenue paid my bills and I no longer needed to rely on the "day job", hourly income.

I'm incredibly grateful for what I learned in the 18+ years as I was fortunate to be able to progress form Construction Superintendent, to Construction Manager, then to After Sales where I participated in growing Sales from $100,000 to $6 Million per year.

During that last period of 5 years in After Sales I learned many pivotal lessons about Business Development and it's key role in the Corporate Culture that develops as the business grows and you add people.

This lesson is the most relavent to my current situation as I'm now on the cusp of a growth burst that will require recruiting talent and setting the tone for the Corporate Culture I want to create.

Lesson 1) VALUES

Regardless of if its a corporate culture, personal relationship / friendship or marriage, if your values don't align, the relationship will be miserable.

The culture of a business team mirrors the values of it's people of "authority", I'm not just talking about corporate leaders here, the CEO, COO, CFO or Division Managers, although the same can be true for them.

People like office assistants, receptionists, executive assistants all have an incredible amount of  authority in a business and it's these people and above, that set the Culture.

One bad hire or promotion can send waves of tyranny and abuse through the lower ranks that will disable the spirit and potential of the lower ranked talent tasked as the "engine" of the business.

So as Steve Seibold says in his book 177 Mental Toughness Secrets;

"Hire for Consciousness, and Train for Skills".

The banner picture of this article is a poster I created for my business, and when the time comes to hire, I have my 'Values" criteria set for the interviews. 

Enjoy, Rick G.



Investor Update - New Offering to Investors !!! VILLA VIRTUOSO

 

Ok so here it is, our much anticipated Investment Offering.

We've been purchasing Land in a Medium to High Density zone on Vancouver Island in the Greater Victoria area for Development into Apartment Buildings.

This offering comes in the form of fully BCSC compliant Subscription and Shareholder Agreements.

This Project "VILLA VIRTUOSO'', is ready for Rezoning and we're offering investors who participate a 50% share in the profit on the project, including;

- Estimated return of 100% of your initial invested Capital in 3 years or less.

- Reinvestment of same capital into next project.

- Retain your % equity position for the lifetime of the project, 10 years or less. 

- Monthly Cash Flow

Minimum Investment is $100,000

Contact me directly for details and we'll add you to our list of interested investors we're screening for suitability to invest.

Total offering for investor shares is currently $3.5 Million.

We have $1.25 Million committed to date so contact me ASAP to secure a placement.

Other News to Investors;

Our Multi Family / Apartment Building values continue to increase as rent increases in our market.

Deauville Apartments

This property was purchased in 2015 for $1.777 Million, current value is in excess of $3.2 Million. 

- Walkerville Court Apartments

This property was purchased in 2012 for $1.977 Million, current value is in excess of $3.45 Million. 

- Helen Terrace Townhomes

These 3 story, 3 bedroom Townhomes where purchased in 2011 for $50,000 per unit, current market value is $130,000 per unit.

- Aaron Apartments 

This property was purchased in 2011 for $245,000, current value is in excess of $600,000. 

Contact me and I'll get you on track to profit like the investors in these projects.

Rick G.



Relive the Music - 50's and 60's Musical Review Concert

 

One of the Goals I wrote in my "Vision of My Life" Master Mind Vision Boards was;

"Ballroom Dance Tour around the world with my Wife".

So Makai and I have been practising weekly preparing for the day when we could block out the time to take this Goal on in earnest.

Well seems this Goal manifested itself in the Relive The Music Tour.

Ok so we're not booked to tour the world yet, shows are all in BC so far but this is definitely a good start to fully expressing this Goal.

Click the Relive The Music links for show dates and to buy tickets.

Or message me if you have questions,

Enjoy :-) and hope to see you at the show.

Rick G.



How to Reduce Capital Gains Tax on a 2nd Home or Cottage

 

There's no way to not pay Capital Gains on a 2nd property but there are ways to reduce how much you pay.

These articles describe a number of strategies you could deploy to reduce the amount you pay overall.

REAL ESTATE WEALTH - Strategies for Reducing Capital Gains Tax



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