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In the beginning was the word...
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03-20-2013, 04:31 PM,
(This post was last modified: 03-20-2013, 04:58 PM by Skook.)
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In the beginning was the word...
Well, actually in the beginning there were two words: passive income.
I have just finished reading the latest post at VREAA - 'Spot the Investors #100' and I knew immediately what those two were aiming for. The answer was among the amazing docs I stumbled onto the other day. There is a Pender Harbour connection in this piece and I was going to quote from it at some point; but, I think it is worth rolling the article out now. So, here it is in its entirety: Quote:Looking to ride real estate to riches |
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03-23-2013, 08:55 AM,
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RE: In the beginning was the word...
I thought I would post another Ozzie Jurock gem. The quote below appeared in the Jan/Feb 2007 edition of Westcoast Home & Design. Jurock has been the mag's RE 'Advisor-in-Residence' for a number of years.
In this excerpt, Jurock points the way to becoming an RE millionaire. Notice here, he does advise avoiding the downtown condo market. Quote:OK, what plan should you do if you want to make money on real estate? There are those magic words again - "passive income" and with an added bonus no less for it "will set you free!" Now, I know absolutely nothing about RE investing, but the impression I get from this is that it is a recipe for becoming a 'slum landlord' and without ever having investing a dime of your own. All the money keeps rolling in year after year without any word of future expenses; I guess mentioning something so mundane is an unnecessary damper on what is otherwise a beautiful and wealth-creating experience. |
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03-24-2013, 09:11 PM,
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RE: In the beginning was the word...
arbeit macht frei indeed
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03-25-2013, 07:45 AM,
(This post was last modified: 03-25-2013, 08:16 AM by Skook.)
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RE: In the beginning was the word...
I am doing one more post on Ozzie Jurock and sorry for its length but I guarantee it will be the last. You see I spent all Sunday researching him and I would like never to see his name again. I have been working on property ownership on the Sunshine Coast and when I saw the data I asked myself, "Could Ozzie Jurock have had a hand in this?" So, I went back to his websites - he has about a half dozen - and started seriously reading. In turn, I did some more searching and discovered what some of you likely already know that a number of disgruntled property investors have initiated two class action law suits against Ozzie Jurock; his partners Ralph Case and David Barnes; and, their companies. I won't make any comment on these cases; however, if you want to read the legal details yourself, here is the link to the BC Supreme Court Judgement Search web page:
http://www.courts.gov.bc.ca/search_judgments.aspx In the 'Key Words' box, type in Gregory Bosworth and you will get two results. The one dated November 24, 2011 certifies his class action suit which he initiated in April, 2011. The second result is from January 10, 2013 where the Court of Appeal denies an attempt by the defendants to have the class action dismissed. The second name to enter is Brian Stachniak. This judgement, dated April 25, 2012, certifies his class action suit which he initiated on February 28, 2012. These class action lawsuits were both mentioned on Vancouver Real Estate Anecdote Archive and the post quotes extensively from a Vancouver Sun article about the suits. But, the link to the Sun article now takes you to a "Page Not Found" notice because every Ozzie Jurock real estate article and any article quoting him has been expunged from the Postmedia newspaper chain website archive (the Canada.com network that includes the Vancouver Sun, The Province, the Calgary Herald, the Edmonton Journal, etc.). So, here is the link to that VREAA post: http://vreaa.wordpress.com/2011/07/24/tw...ntentions/ The paper along with Vancouver radio and TV stations helped build Mr. Jurock's reputation as an "expert" in the publics' eye by turning to him on a regular basis for comment on anything to do with real estate. Of course, you, reader, knew that but me living up there in the bush on the Sunshine Coast didn't - but I do now. (Ozzie's articles for Postmedia's 'Westcoast Homes & Design' magazine are sill up on that website; however, the last is dated May 21, 2012) Now, Mr. Jurock, on the other hand is extremely proud of every thing he ever wrote that appeared in print whether penned by himself or by others who were quoting him and by everything he ever said on radio or TV and it is all up on his websites. Here are two links to print articles: http://www2.jurock.com/articles/archive.asp?authorid=1 and http://www.ozziejurock.com/media/ This is the link to his broadcasts (you can watch with RealPlayer): http://www.ozziejurock.com/insights/bctv.asp. Let's face it the man was everywhere. Before I wrap this post up, I would like to present three final excerpts from his Vancouver Sun articles that appeared in 2002 and 2004. In light of all that has occurred in the lower mainland real estate market and likely on the Sunshine Coast, too, I think they are worth the read. I found articles written after 2006, are basically a rehash of early pieces. Yes, you can buy a home with no money down, Vancouver Sun, November 23, 2002: Quote:Yep, you can buy ANY HOUSE in Vancouver up to $400,000 without ANY CASH. It helps, if you just did not have your car repossessed and you are gainfully employed (as in being able to make the mortgage payments) but yes, your can do it. New Mortgages Aimed at Self-Employed, Vancouver Sun, Dec 7, 2002: Quote:One of the new mortgage products aimed at a market where buyers can’t prove their income via T-4 (as in self-employed) is a new mortgage by General Motors ... or its finance arm GMAC. This brand new product by giant GMAC (exclusively marketed through Mortgage Intelligence in BC - starting December 15, 2002) has some interesting twists, which will really help you if you have good credit, are a contractor, self employed OR do not want to have the hassle of providing income verification. (Yep!) This product requires no income verification. Questions, Questions, Vancouver Sun, July 5, 2004: Quote:QUESTION: Who offers 'unique' mortgages for the 'hard to finance' property? Mr. Jurock's reach went far and wide from BC into Alberta and beyond the border into the United States. The latter was aided by his close friend and fellow broadcast darling David Ingram. His business was offering "expert income tax service & immigration help to non-resident Americans & Canadians from New York to California to Mexico. Family, estate, income trust trusts Cross border, dual citizen - out of country investments are all handled with competence & authority." He directed all real estate investment inquiries from Americans to Jurock even if they wanted info on eastern Canada. Ingram's website and business (http://www.centa.com) has been taken over by his son since his death in 2011; however, there is much that is archived including videos of Ingram and Jurock together. In one from 2009, they talk about how they worked together on the first internet open-line TV broadcast in 1997. Although about an hour in length, this video is worth the watch because Ozzie explains that you can only make money two ways and how he applied that to his own RE marketing enterprise. He also admits to establishing the 'Real Estate Talks' forum (http://www.realestatetalks.com/index.php) in 1996 and mining it for email addresses via registration. Here is that video link: http://david-ingram.com/article.php/Juro...enWhereHow. I can't help but think that some day someone will write a book about Ozzie Jurock and the influence he likely played in BC Real Estate in the years from 1998-2012 especially if it all comes crashing down beginning in 2013. As a result, he would enter the BC pantheon of "characters" joining such notables as Amor De Cosmos to Bill Vander Zalm. I think Ozzie wouldn't mind that. (Question: Would Jurock's ownership of 'Real Estate Talks' now explain why HAM's recent post on the actual price drop of Richmond home sales had first the images removed and then the complete post itself?) |
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05-30-2013, 11:04 AM,
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RE: In the beginning was the word...
May 30, 2013:
I was on the hunt yesterday for information on a condo/townhouse development in Calgary that has an indirect tie to a SC property development that went belly up in 2010. This Calgary development is in an up and coming area of Calgary called Mission - if you are ‘on the edge’ this is where you want to be. Back in 2010, the development was called “Lumiere”; however, French names are now passé and the developer who took over this project decided a fresh start was needed and a new name was in order and headed to …guess where… for inspiration? New York City!! Yes, Gibsons has its “New York Brownstone Inspired” townhomes (Island Vista) and Calgary has its very own “Tribeca.” Of course, In New York, Tribeca refers to an area of New York that is “the” place to live if you are an “oh so hip” actor or musician with truckloads of money. Oh, well, Calgarians can pretend. The presales for this 82-unit Calgary project began Feb 10, 2012 and within 4 days were 60% sold and within ten months all units were gone. The complex is under construction and completion is scheduled for this December. The developer is private Vancouver company that according to the following 2011 CIR Realty, Calgary, web post decided Vancouver’s condo market was exhausted and pastures were greener on the other side of the Rockies: Quote:Bucci Development Energized About Calgary’s Condo Market I was poking around the Tribeca website to see if I could determine the date that Bucci took over this development and headed to the ‘News’ tab. Well, well, well…didn’t I find something interesting. Mr. Bucci just couldn’t resist adding this post since it makes him look so smart. Quote:Posted on August 28, 2012 Well, Ladies & Gentlemen, once again, the BC Oracle has spoken: WOW! So, ten years ago, Ozzie was pumping BC’s west coast and Alberta money flowed in and last year he was pumping Calgary and likely BC money flowed in; so, what do you think Ozzie is pumping now, eh? Let’s see, what does Ozzie say? Oh, yes - “Values grow where people go…and people go where jobs grow!” Hmm, my bet it isn’t in Canada. Nope, went to his website and apparently in his May 23, 2013 fact sheet he recommends...Malaysia followed by Phoenix...guess, Mr. Bucci, you should get all your shots, visas, etc and start packing your bags. Remember, the Oracle has spoken. |
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