[Will Chen the Snake Charmer]

Good Will Report

Will Chen's Monthly Newsletter
Issue 5 | January 2007
1.425.301.9652 | will@willchen.ca
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Making Changes in 2007

[Picture of my new apartment. It is unpacked and needs clean up.]So here we are one month into 2007, and boy has it been quite a year so far! I closed two real estate deals this month; one of them is an investment townhouse in Edmonton which I plan to hold for 2 to 3 years, and the other one, well, is my new home! I purchased a one-bedroom unit in Metrotown area for $232,000 and moved in on January 28th, which is very exciting indeed! I am still unpacking and organizing the place and I hope it will all be done before the end of the first week of February.

It has been over 3 months since I had my laser eye surgery, and I had my sixth check-in with the clinic in mid-January. My vision has been gradually improving since the operation; according to the check-in, one of my eyes now has 20-20 vision and the doctor expects the other one will reach 20-20 in due time. It has been an amazing experience and I've noticed that even my energy level is much higher than it was before. With regards to that, I have to take this chance to thank my parents and my friend Aaron for the support the last few months. Thank you!

As many of you know, I was involved with Pacific Dreams Theatre's production of Aladdin, a pantomime that ran from Christmas time to early January. It was my first theatre experience and it really opened my eyes to what is possible. I learned how to open up my heart to people and project my voice, and I also got to meet some extremely talented friends who were practically like family during the production run. Thanks to all of you who came out and saw the show, it was truly a blast!

Life Directions Intensive

[Live at Life Directions Intensive]Between January 12th and 14th I took part in Peak Potentials Training's three-day Life Directions Intensive seminar that took place at Westin Bayshore at beautiful Coal Harbour in downtown Vancouver, and man, what an experience that was! The workshop helped me explore the reason why I am here on this earth, create a mission statement and a vision for my life that supports my vision, as well as explore many business and career options based on where my talents and passions lie.

Interestingly enough, I found out that my natural aptitude is to be an entertainer, which ties into my work in the video game industry, as well as my hobbies both in music and theatre. In my vision, I see myself helping people achieve financial freedom and gain power over their lives by helping them invest in real estate, so they may also pursue their dreams with their finances supporting them. All this supports my mission "to help people gain confidence and power over their life."

I feel very passionate about achieving financial freedom, especially through real estate. Real estate is a great vehicle for holding wealth and generating passive income. I hope I will be able to help all my friends achieve financial freedom in the next 10 years.

Real Estate Market Research

[Edmonton Skyline]On the topic of real estate, after creating a clear set of goals (see my December 2006 newsletter), it is now time to find a city or area to invest in.

First of all, it is important to pick a city that has a future. When I invest in a property, I am not only investing in the property itself but its city and its people. If the city is and remains prosperous, so will my tenants and, eventually, my buyer. There are many ways to assess a city, by looking at the average income per household, GDP, even at the minimum wage and the job market.

On a related topic, we very often read on newspapers about how "the US real estate market is on a downward spiral" and that "the Canadian real estate market is slowing down." Without going into a whole discussion about how the everyday newspaper is obsessed with "doom and gloom" sensational items, lets discuss the nature of the real estate market.

Consider the community in which you currently live. Within this community, there are neighbourhoods that are newly built and others made up of older houses, and sometimes they can literally be one block from another. You can think of how different Vancouver Downtown East Side is from Yaletown and from the West End. Although these local areas are nearby, the appreciation in prices can be dramatically different depending on the desirability of the neighbourhood. In other words, the real estate market is highly local, and it pays to be an expert in a small area!

That being said, the national average is a great benchmark for measuring appreciation. If you are investing in a city where the average appreciation is higher than the Canadian average, chances are, you are investing in a city that will consistently beat the national average since real estate markets are not very volatile and tend to follow year-long cycles.

If you are interested in learning more, I suggest that you pick up Real Estate Investing in Canada. It is an in-depth and step-by-step guide to investing in real estate, especially in Canada, and really a great read!

First Freedom Investment Club Meeting

On January 22nd, Freedom Investment Club had its 2007 Q1 meeting. During the meeting the club's founder, Michael Lathigee, talked about recent developments in global warming and how that relates to the energy crisis. One of the most important pieces of information is that in the near future, oil will remain the primary source of energy, and Alberta, having the world's largest reserve of oil, will remain a great place for investors, with $35 billion already committed for the next 5 years and $110 billion over the next 10 years.

The oil industry is driving the economics in Edmonton; its in-migration is not keeping up with the job growth and it is a city with a future. I am very confident that the housing market in Edmonton will remain strong, and I will be making offers on more investment properties over the next few months.

That about wraps up the month of January. Chinese New Year is coming up on and I wish everyone a prosperous year!

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