Sunday, January 28, 2007

Real Estate - The Easiest Way To Make Money

It sounds so simple. Buy a property, sit on it until the market climbs 15-20 percent and sell for a profit. A study by real estate heavy weight Re/Max has published a report that since 1981 real estate has been a quality investment that has risen in value. Sounds simple now, but in 1985 you might have got some strange looks.

Along with real estate come the self help gurus. These are the people who want to help you get rich, or at least get not poor. The latest Canadian marketing a 'real estate for dummies' book is Douglas Idugboe, originally from Kenya. The Calgary sun has an article on how Idugboe plans to help others, and his road to publishing a book. Read below for the full article.

Calgary Sun Article


Now impeccably dressed, Douglas Idugboe recalls how he came to Canada in 1999 as a refugee from Nigeria with just $5 to his name and immediately got a job as a factory worker in Montreal.
"I needed the money," he says, "and I believe any job is better than none."

Today, Idugboe is a successful real-estate investor, makes a second living as a financial coach and marketing consultant, and has a bestselling book on sale in stores across the nation.

His book, Credit Miracle for Canadians (QuickSuccess Press, $24.95), explains how to build or repair your credit rating, get out of debt and "make banks beg to loan you money."

Idugboe, who bubbles with enthusiasm for the educational, employment and entrepreneurial opportunities available in Canada, got the idea for the book back in Montreal when he first applied for a bank loan.

"I didn't understand how the credit system worked, but I knew you needed money to get going, so I applied for a loan and was turned down because I didn't have a credit rating and wasn't established."

With that, Idugboe started to research the credit-granting system in North America.

Soon he was not only getting loans to invest in real estate, but advising others how to get a positive credit rating, too.

"I had to start turning clients away from my courses, because they were so popular. Feeling sorry I hadn't the time to coach everyone who needed advice and help, I decided the best way to get the information into their hands was to write a book."

His work has been praised by the likes of Fabio Marciano, author of The Secrets of Wealth and Paul Counter, also an author of his own work, Don't Borrow Money Until You Read this Book.
Idugboe started to write the 260-page work in 2003, but several times got distracted because not only was he deluged in research, but he had his family to support, consisting of wife Francisca, and son, Uwa, now 4.

His book explains the technicalities of the credit granting system in North America in simple jargon and also offers financial tips.

"The first rule of successful financial management is don't spend more than you earn. No one needs to have unnecessary or unproductive debt, but if you do, you will likely never turn your aspirations into reality."

Idugboe stresses he invests in real estate not to make money with "quick flips" but to generate a long-term cash flow to build his business interests and support his lifestyle.

"Many Canadians and Americans think financial difficulty is due to lack of money. That's not their real problem. Their real problem is a lack of financial education."

That's the backbone of his book and his website

"My third basic rule for financial security and success would be identify where you want to be and make a definite plan of how to get there and stick to it."

That is surely what Idugboe had to do in working himself up so quickly from a factory floor to a real estate investor and author.

"It certainly wasn't easy researching, writing and getting a book published and distributed nationwide.

"So many people try, but with no publishing record it's hard to find a distributor. I wanted to have a blockbuster, not just sell it on"

Persistence paid off when, after knocking on many doors, he was lucky in finding White Knight Book Distributors in Toronto.

"The company president, Bill Belfontaine, read the book and uttered one word, 'Wow!' and that was it."

Says Idugboe with a big smile, "Canada is the greatest country in the world. It's like a dream come true. Anyone can be anything they want here, they just have to work at it."


Anonymous said...

So how did the book do?

Snap Up Real Estate said...

The book is doing okay. He is making money at being a journalist.

Anonymous said...

Check and calgary herald. Idugboe has just been charged with fraud and identity theft in Calgary.