January 23rd already! That's crazy! January is going to be a thing of the past before we know it. When i look back at the last 23 days.... wow... I have come a long way in a short time. Last night I had my phone call with my mentor I have been set up with on the millionaire challenge. Her name is Diane Buckley and is just an incredible person. Her warmth radiates through the phone line. Great lady, great spirit. I'm really looking forward to working with her over the coming months.

She has be researching both Canadian and American markets. She described how were are going to look for positive cash flow properties and stay away from properties that she referred to as "running negative". As you may have already assumed, those are properties that run a negative cash flow or, in other words, you are losing money on.

She told me to look at entry level properties. These are properties such as bungalows or starter homes. She shared a fairly important stat with me, "76% of sales in the US are entry level homes, especially in correcting markets". This is due to people, who were unable to afford to buy before, and with the market dropping, they are now able to get into the market. The second reason for this stat, is that people who overextended themselves before, are now downsizing due to loss of jobs, lower wages and general market uncertainty. The third reason are people like myself and, hopefully if this inspires you to get involved, or otherwise referred to as, INVESTORS.

Investors do not want to spend for the higher end homes. Why would you?! You can get amazing deals that create a substantial monthly cash flow at $50,000 or less. So why spend $150,000 or more, even if it is still a spectacular deal?

Smart investors use leverage. Remember that word.... LEVERAGE! Leverage means to do more with less. Gain more profits with less money invested. That's what we will learn together over the next couple of months.

As I mentioned before, I have also joined forces with a company out on the West coast that helps renters achieve home ownership by setting up Rent to Own properties. We will offer the opportunity to those who qualify to be set up in a nice property, paying a monthly "rent" for the first 24 months and then have an option to buy that property on the back end of the agreement.

If you know anyone looking to purchase a home through this type of method, forward my email address onto them and I will supply them with any additional information.

scott.weller@shaw.ca