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Pre-Qualification vs Pre-Approval

With the spring real estate market underway you hear a lot about how simple getting a pre-qualification or a pre-approval can be. You’ll be told you can go online, fill in a few fields and are given a magic number. While getting a pre-qualification is a quick and simple process, it won’t leave you feeling as confident as a pre-approval with a licenced professional would.

Clients are often confused about the difference between a pre-qualification and a pre-approval so let’s talk about the differences and why getting a pre-approval is more worth your while.

During a regular pre-qualification a representative will ask you for details about your income, debts and give you a general idea of how much you could afford. It is a very basic analysis and it does not take into account your credit report which plays a large factor in whether you are approved or not later down the road when you find a property you want to put an offer on.

Getting a pre-approval done with a licenced mortgage agent involves a few more factors, however provides you the best results and allows you to go into a bid for a property with confidence. Your licenced mortgage agent will require your recent paystubs, a current employment letter and will pull your credit report to evaluate your credit history and beacon score. You’ll remember from a previous article 680 and above is where you would like to be. Other important factors such as property tax estimates and the cost of heating will also be taken into account. After looking at all this information they can give you a pre-approved amount and also provide you a letter if you wish. Often time Real Estate Buyer Agents will not work with you unless you can confirm you have been pre-approved for a mortgage. By knowing your pre-approved amount you won’t waste time looking at properties you can’t afford and can focus on finding your ideal home within budget.

If you have any questions about the pre-approval process or would like to get started on yours please reach out anytime.

Ericka Kodituwakku is your trusted Mortgage Agent in Ottawa specializing in first time home buyers. Contact her today for a FREE Homebuyers Guide and with any questions on the mortgage process.

Ericka Kodituwakku, Mortgage Agent
Mortgage Alliance Licence # 10530

(613) 413-2781
www.mortgagealliance.com/ErickaKodituwakku
ekodituwakku@mortgagealliance.com
https://www.facebook.com/KodiMortgage/

Preparing for homeownership in 4 steps

It’s the end of the month and your rent has gone through like it has for many years. You’ve never had an issue paying your rent on time and perhaps you’ve thought about owning a home, but don’t know if you could afford it or don’t know where to start. Purchasing real estate can be a great long term investment putting you on a path to financial success and is attainable if the right steps are put in place.

When considering becoming a homeowner preparation is key and more so when it comes to getting approved for a mortgage. It is a process with several key factors to consider.

 

Here are 4 things you should be doing:

  • First, monitor your credit score. Banks and lenders use your credit score to determine the level of risk lending money to you will be. Having a higher credit score and clean credit history, ideally above 680, demonstrates you to be a good candidate.
  • Second, evaluate your income and employment situation. Your income level and debts will determine how much will be approved for. You also want to consider affordability. After paying your mortgage, monthly bills and other necessities is there any savings?
  • Third, saving a downpayment. At minimum you will need 5% of your purchase price to use as a down payment on an owner occupied property. Steadily saving for this in your bank account and having it ready a few months before making an offer will put you in a good position.
  • Fourth, seek expert advice. Speaking to a mortgage professional will put you on the right path to getting approved the first time. They will evaluate your individual situation and develop a plan with you towards becoming a home owner. Brokers work with several lenders including banks, credit unions, monoline and private lenders to make sure you are getting a good mortgage product at the best available rate.

The process does not need to be overwhelming and will be stress free if you work with a professional in the field who can answer all your questions and provide you with the information you need to make smart financial decisions.

 

Ericka Kodituwakku is a mortgage agent in Ottawa specializing in first time home buyers. Contact her today for a FREE Homebuyers Guide and with any questions on the mortgage process.

Ericka Kodituwakku, Mortgage Agent
Mortgage Alliance Licence # 10530

(613) 413-2781
www.mortgagealliance.com/ErickaKodituwakku
ekodituwakku@mortgagealliance.com
https://www.facebook.com/KodiMortgage/

How To Move Forward With Your Real Estate Investing Goals!

Amina

As a real estate investor, I took the time to get educated in various aspects of real estate before proceeding with my first investment property purchase. However, at some point I knew that getting educated was only part of the process – at some point I would have to pull the trigger, so to speak and actually purchase the property to meet my investing goals.

Everybody has reasons for starting their real estate investing career – mine started because I thought it would be a great way to supplement my income. I never expected to evolve and learn what I have learned to date. I keep expanding my goals and hopefully this post will inspire to keep expanding yours as well. I am now involved in residential, commercial and private lending for other investors and with so many different ways to invest the overall goal is to not only grow my own passive income but to also enjoy the journey.

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I love going to different meetup groups or getting out and meeting other investors – mostly to see what they are doing with their own portfolio’s and to learn about what path they took to achieve their goals. But today I am more picky on which ones I go to and how much I spend to attend a meeting. Factor in parking and gas, it can be a very expensive night with little or no return.

It can be advantageous to learn from others. Investors are a great group of people because they love to share their achievements and their struggles to get to where they are and so you get to learn for free. At the beginning of my real estate journey, I took the time to meet with investors I wanted to emulate and am grateful for those individuals who took the time to share their experiences and knowledge with me.

I have also met so many would-be investors who have attended every course available (some that cost thousands of dollars), will go to every meetup or investment club across Ontario, will speak to many investors and still not have the courage to pull the trigger and purchase that property – we commonly refer to this as analysis paralysis!

I recently met such a person and sometimes I can be very direct – mostly because I hate to see somebody waste so much money and not have anything in return. I met this person at an investor meeting and the charge was $20 to attend. I understand that sometimes investors who run these groups have to pay for the rooms so that is not a problem, however if you are attending a different meeting 2-3 times a week, that cost can add up.

So I met this gentleman at an event and we started talking! This specific gentleman thought that he could purchase a few properties and retire from his job within 6 months – unfortunately a myth that is perpetuated by many of these courses that charge thousands of dollars. We finally got around to the topic of the many courses he had taken to date over the last 3 years – in total he had spent close to $60,000 (one year’s annual salary) and had still not purchased a property.

I asked him what was holding him back and he said he did not feel ready and that he did not feel he had learned enough. I asked him what else he needed to know and he could not answer that question. He said he was taking another $10,000 course the following week that should give him the information he needed to proceed. I felt sorry for him because this is too often a reason I hear when people don’t feel ready to purchase a property yet.

Are you an investor who has yet to purchase your first property, even after attending many courses and seminars? What information are you lacking? What is holding you back?

By reaching out to an experienced investor and asking them the questions you most want to know, it might just give you the confidence you need to push forward. I recently did that with a new investor and one month later after taking my advice and doing some research on two markets we focused on, she is ready to pull the trigger on her first property!

If you are a successful investor and you come across somebody like this, please do them a favor and break down the myths for them; such as owning a few properties will not allow you to leave your job and retire; taking so many courses and spending so much money may or may not prepare you to purchase that property and finally being stuck in analysis paralysis will not prepare you to purchase your first property.

If you are a successful investor, don’t be afraid to share your experience with somebody like this – it may result in their success as well as yours!

I can be reached at amina@aminas-ms.ca or 416 697-5443.
To Your Wealth! Amina

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A Tale of Two Cities – An Investor's Story

Amina

This story takes place in modern day times! The story is about a real estate investor who has to decide between two properties. One property is in the bustling and over-priced city of Toronto and the other property is in a smaller community to the west known as Kitchener.

The Toronto property is in Guildwood – a sought after area of Scarborough but backs on to a Go Train track. The home is beautiful and offers a main floor with the potential for a basement apartment but it would need renovations to make it happen. The price is $749,000.

The property has been sitting on the market for 31 days in a sought after area because of it’s close proximity to the train tracks. What happens in a few years when my client wants to sell this property – will he have the same issues as the current owner? Even in a seller’s market? Probably!

The Kitchener property is in a sought after area with schools and shopping nearby and also has the potential to add a basement suite but the separate entrance would have to be built-in. The asking price is $325,000.

Seems like a no-brainer right? But let’s look at the numbers to see what makes more sense!

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I’ll base both scenario’s on the same interest rate of 5 year fixed of 2.59% with 30 year amortization. However with the Toronto property he would require a hefty 25% down in order to make the debt ratios work and with Kitchener only 20% down.

Toronto Property:

Purchase Price $749,000
Down payment 25% $187,250
Rate 2.59%
Amortization 30 years
Term 3 years

Monthly Mortgage $2,241.89
Property Taxes $350
Rental Income $1,850 + Utilities

Net Rental Income -$741.89
In order to give him the positive cash flow he needed he would need to finish the basement for another $30,000 – $50,000 and be able to rent it out for $950-$1,000 which would give him approx. $258 in cash flow.

Pros and Cons of this property:
• PRO -Close to highways
• PRO -Good area
• PRO- Higher appreciation
• CON -Backs onto Go Train
• CON-Needs to complete basement in order to cash flow
• CON -Needs 25% down to purchase this property – a hefty $187,250

Kitchener Property:

Purchase Price $325,000
Down payment 20% $65,000
Rate 2.59%
Amortization 30 years
Term 3 years

Monthly Mortgage $1,037.64
Property Taxes $275
Rental Income $1,450 + Utilities

Net Rental Income $138

The basement is finished – he just needs to build a separate access, which will cost approx.. $20,000 and he can then rent out the basement for an additional $900 in that area, which means he cash flows $1,037.64 – exactly what his mortgage is – he doubles his mortgage payment!

Pros and Cons of this property:
• PRO -He can easily build the access for 2nd basement suite
• PRO -He can cash flow even without adding the 2nd suite
• CON -Lower Appreciation
• PRO -Lower Downpayment needed
• PRO -Ability to Purchase another property with savings from down payment

With the Toronto property in ordinary circumstances he would have no issues renting it out but there is the train track to consider and not every tenant would be willing to live near a train trace, even if he was.

The Kitchener property although in a nice area, would not appreciate as much as the Toronto property. However with this property he would only be required to put 20% down, he would have twice the rental income (once he put the entrance to the finished basement in) and he would have enough money left over (in his budget) to purchase a second property within a few months.

When you are out there looking at properties I know you are doing a full analysis but also consider the pros and cons of the property itself. Look at it with the eyes of your potential tenant!

Happy shopping and I hope if you come across a Tale of Two Cities of your own, you will share it with us! I would be interested to know how you made the decision to purchase your rental property – was it as difficult for you as it was for my client? Please write and share your story!

I can be reached at amina@aminas-ms.ca or 416 697-5443.
To Your Wealth! Amina

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Building My Retirement with Real Estate

Amina

Depending on whom you speak with there are many ideas of how to build a retirement nest egg. I have a specific plan for retirement that includes real estate. While many people still believe the stock market is the safer way to go, I decided long ago it was not for me.

For one, I did not want to invest and pay fees and for two I did not want to invest in the stock market, where I had relatively no control.

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It is no surprise that investing in real estate, is the safest (in most cases) investment there is and couple this with opportunities that abound in Canada, you have a recipe for success.

Long ago, before real estate and being a mortgage agent was a reality, I like everyone else invested in mutual funds, bonds and stocks. Unfortunately like so many other people, that all changed after the crash when almost my whole portfolio was decimated.

Thankfully I was youngish, and was able to start again. I took the reins and responsibility for my own retirement and investing goals and started to research everything that was available. At the time I was still working in film and television but slowly transitioning out to a new career in home staging. It was through home staging for real estate investors, that I was introduced to the wonderful world of real estate investing.

I researched everything from buy & hold, flipping and rent to own and in the end settled on rent to own, simply because I liked the idea of being able to help somebody become a homeowner and second I liked that the tenant was mostly responsible for the maintenance of the property – I was not interested in being a full-time landlord.

From rent to own I have moved again to a buy & hold four-plex with a JV partner and recently to lending my money. In addition, I have invested my RRSP’s into a syndicate product that will accrue for 5 years and pay annually 11% per year.

I must say that my favourite strategy by far is lending my money as it is bringing me similar or greater returns, however the risk is a bit higher. If you want the greater returns you need to be able to accept a modicum of risk…being a mortgage agent I know a good borrower when I see one – but even then things can go sideways in a minute, even with good planning!

I am in my upper 40’s and the crunch is on to make sure I have my retirement goals in check. My end goal is to purchase properties abroad that will provide me with cash flow and appreciation and one day a property when I am ready to retire, that I can move to.

Do you have a retirement plan? Is real estate a part of that plan? If not, are you perhaps interested in purchasing a rental property, lending your money or even investing in syndicate mortgages? If so, please reach out and have a discussion with me. There are many ways to invest in real estate that will provide you greater returns than what you will get through the stock market.

I can be reached at amina@aminas-ms.ca or 416 697-5443.
To Your Wealth! Amina

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MAKING YOUR RRSP’S OR TFSA WORK FOR YOU!

Amina

As a Real-Estate investor, I attend a lot of networking groups to meet like-minded investors, make new connections and of course learn something new that will help me improve or increase my portfolio.

As a mortgage agent, I have been researching how to help myself and others get access to 2nd mortgages but most people don’t know that you can use any of your registered accounts (RRSP, RESP, RIF, TFSA, etc) to invest in an arm’s length mortgage.

The distinction is arm’s length – which simply means that you cannot invest in your own mortgage or somebody that is related to you by blood. An arm’s length mortgage is one where you invest in another investor, a friend, a colleague, etc.

The process to use your RRSP, TFSA or other registered account is very simple.

You start by setting up a self-directed mortgage RRSP with a trustee that allows 2nd mortgages. There are only 3 in the market today, which include Olympia Trust, B2B Bank and Canadian Western Trust.

Once that fund is set up with the trustee, you then convert the assets to cash within the existing account. At this point, you can direct the trustee to transfer the cash to a new account within the RRSP – the key is that the funds must be in the RRSP.

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Things that you must consider:

-the mortgage that you are investing in cannot hold a title in the RRSP

-it must be administered by the trustee

-you can only lend on Canadian real estate

-only Olympia Trust will allow a position of 1st, 2nd or 3rd mortgage, which simply means that you can have other funding in place behind or in front of the fund as you are lender

-if the mortgage lending amount is over $50K, each side must have a lawyer

-all costs (appraisals, lawyers fees, commitment fee, etc) are borne by the borrower not by the lender (you)

 

This is a great way for borrowers or investors to grow their portfolio’s as it provides funding from people who have money in their RRSP’s . We all eventually run out of two things – the availability of capital and the ability to qualify for funding. You don’t have to go through the bank as you are dealing directly with the investor who is lending you money. Furthermore, if can work with your lender, it benefits you as the borrower to pay only the minimum for the first year and then the balance after the term is over + the principal as it helps with your cash flow. For the lender (private investor), they also benefit as the full payment at the end of the term allows them to roll out the money again into another investment without incurring any extra fees.

As the borrower, you are more than likely to keep getting a loan from the same investor once you show you can be trusted and keep to the payment schedule set out at the beginning of the term.

For larger projects you can consider syndicated mortgages. It works similarly but this is a pool of RRSP funds and is registered as one mortgage – the share of the amount paid back is split as to the amount that was contributed. So if one person put 10%, another put 20% and another put 70% – it would be split accordingly.

In this situation, you can also defer the payments from the borrower as it is a win-win for both the lender and the borrower.

In any situation – you want to make sure it’s a win-win for both parties. Especially when it comes to real estate investing.

Would you like to learn more about how to put your RRSP to work for you? Please contact me today if I can help you or if you know of somebody who can use my help!

I can be reached at amina@aminas-ms.ca or 416 697-5443.
To Your Wealth! Amina

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It's That Time of Year Again

Amina

It’s that time of year again when we get inundated with messages about topping up our RRSP’s or investing for the long run for our retirement, but how do you choose what to invest in?

The markets are down, the dollar is down and according to the press it’s doom and gloom on the horizon. But how do you as a savvy investor, cut through the headlines to figure out what is the best bet for your dollars?

Experts (who are they?) will say buy when the markets are down and sell when they are high, but when you look at your statement and you haven’t seen a high in your returns for a long time, who do you trust? How do you know that the more money you invest, will promise the returns you want?

time to invest

Well looking from the other side, here are some options you can consider that don’t depend on the stock markets and whether you should buy now or not?

Real Estate – buying single family, multi-family, commercial (plaza’s, strip malls, apartment buildings, etc) in a buy & hold strategy, can provide you with monthly cash flow as well as long term appreciation. Even when markets are down, your property will always serve you well as long as you keep the following points in mind:

  • Buy in markets that have population growth, job growth, infrastructure growth and a diversity of industries to service that market;
  • Buy low and sell high – this is also true in real estate, but it is more dependent on figuring out whether your property will cash flow positively while also paying down the mortgage. It does not make sense to invest in a property if it is not going to provide long-term wealth or cash flow – cash is king to a buy & hold investor. Furthermore, if you decide to sell a few years down the road, make sure you have maximized your returns so when you sell you are not on the losing end – remember buy low and sell high!
  • Using your RRSP’s to invest in a property; I spoke of this in my last article. By investing Non-Arms’s Length, you invest in a property that is owned by another investor, stranger, etc. the distinction is they cannot be related to you by blood (see last article Making RRSP’s Or TFSA Work)

If you don’t fancy investing in bricks & mortar properties, you might want to consider investing in development through Syndicated Mortgages. Syndicated mortgages have quickly caught on amongst savvy investors as they get to choose from a variety of different asset classes (single family developments, commercial, condo’s and hotels to name a few) to invest in. With a minimum investment of $30,000 and a fixed return of 8% per annum, you can’t lose. Here are some other benefits:

  • By investing your existing RRSP’s, they are held in trust by Olympia Trust – one of Canada’s biggest and most respected trust companies and not by the syndicated company themselves;
  • Your RRSP’s are not affected by the markets and thus you will continue to get a fixed return of 8% per annum regardless of whether the market is up or down or the dollar is up or down;
  • You get to choose where your money is invested and you don’t have to pay fees to invest ever!

Even though I love Investing in Real Estate, I don’t put all my eggs in one basket so I also invest in Dividend paying stocks. “The best way for people to get a decent return these days is to have a good portion of that return come from reliable dividends versus less reliable capital gains,” says Bob Gorman, market strategist at TD Waterhouse. “This is going to be the era of the dividend growth stock.”

Here are some tips that make Dividend Investing a versatile investment:

  • I invest only in blue chip stocks (yes stocks) that provide a consistent flow of dividends for the last 10 years and only 1 or 2 from each asset class (Utilities, Communication, Tech, etc)
  • I invest in 1 stock and then purchase more through cash injections into my account, without paying fees ever;
  • Picking the right dividend stocks is key. Avoid companies with the highest yields, because that may indicate the dividend is likely to be cut, and the stock price will suffer as a result. Instead, choose reliable dividend-payers that can maintain those dividends even in bad times, while also growing them consistently over time. Look for well-managed, profitable companies in stable industries with good balance sheets and modest growth. They should also pay out only a reasonable proportion of profits.
  • Invest in Canadian Dividend stocks in non-registered accounts (such as a TFSA) but hold your US Dividend stocks inside your RRSP to protect from US withholding taxes of 15%.
  • Pick Dividend stocks that have medium yields but also beat the rate of inflation – many stocks today don’t provide adequate returns after you factor in fees; by self-directing your investments, you can omit fees and maximize on the return.

Regardless of how you decide to invest your hard-earned dollars keep in mind that in order to maximize your returns and your retirement goals, be careful of what you invest in, how much or little you pay in fees and your time horizon. All of these facts will help guide you on your path to investing your RRSP’s this year!

To your Wealth!

Amina

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PLANTING ONE SEED (INVESTMENT) AT A TIME!

Amina

This past weekend the weather was finally amazing to get out in the garden, dig through the earth with my fingers and pull out all the weeds before planting my vegetable garden. It got me thinking that it takes one seed at a time to harvest your garden.

What if we took the same view on our investments?

When we first start we are so keen to learn and invest in anything that comes our way – but that can be foolhardy – especially when it comes to investing!  WHY?

Ask any successful real estate investor and he or she she will tell you that the secret to their success was knowledge.  They learned everything they could before investing in their first property.  They planted one seed at a time!  Did they stop there? No they keep learning and applying that knowledge to build on their portfolio.

As an investor you must take your time to learn, which strategy suits you best. Is it student rentals, multi-family, rent to own, buy & hold, flipping, just to name a few?  Or is it lending your money for a great return or investing in syndicated mortgages or even 2nd mortgages?

Lending your money or investing in 2nd mortgages, may not provide as big returns as a bricks and mortar property, but you also don’t have the hassle of being a landlord and dealing with tenant issues.

I was recently approached by a financial advisor, who only believed that the road to wealth was paved on people investing in the stock market.  I have nothing against financial advisors, but being a person who lost a lot in the 2009 crash, I did not want to repeat past mistakes, which included investing in the stock market.  Does that mean I don’t invest in the stock market at all? NO – I do but I self-direct my investmetns and don’t leave it to somebody else to do it for me – thus I don’t incur huge MER (management expense ratio) fees, which can cut into the growth of my investments.  He could not understand why I would not recommend him to my clients.

Taking charge of your financial future should not be left up to somebody else – burrying your head in the sand and hoping your money will be taken care of is also foolhardy!  Does it take work to look after your finances? YES, but isn’t it more rewarding to see your garden grow when you have planted those initial seeds yourself?

Planting those seeds takes time but when that garden (investment portfolio) starts to grow, you will reap the rewards!

To your Wealth!

Amina

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NO TIME OR MONEY BUT I WANT TO INVEST IN REAL ESTATE!

Amina

As a mortgage agent and real estate investor, I meet many first time as well as experience investors.  Knowing that the government won’t take care of us in our golden years, most of us have come to realize that investing in real estate instead of other types of investments, such as GIC’s or mutual funds for example, can provide us with long-term growth, security not to mention monthly cash-flow.

Being a real estate investor, I write a number of blog posts about investing and I attend a lot of real estate based networking events.  There is always something to learn!

But this is where the rubber hits the road.  The difference is in the investor who takes what they have learned and applies it to purchasing properties and the other, who keeps learning but is hesitant to take action.

I always ask what does it take? Why do some people take action and other sit on the sidelines and watch?

It is lack of confidence, time, or money or a combination of all three?

I can understand “I don’t have enough money”, however there is a solution to this.

I can also understand  “I do not have the time.”  Many people already have full-time jobs and cannot take on another job, such as full-time real estate investing.

Let’s look at a solution to both of these problems.

You don’t have money so what can you do?  Believe it or not, many people find themselves in this boat.  There are people with money, who don’t have the time to invest and need an experienced investor (this is where you come in having learned everything there is to know) to partner with them.  This is a joint-venture situation.  The partner with the funds takes out the mortgage and invests the funds.  You take care of the property, finding the tenant and ongoing maintenance and rent collection.  You both split the profit 50/50.  There are numerous ways to joint-venture with somebody but this is the usual.

The above solution also works for the person who does not have the time.  He or she works 60-70 hours a week and is making great money but they want more.  They want to make a better return on their investments and the time they have vested in their full-time job.

Once they start investing, many of these people see that the return on their time is better spent investing in real estate and learning more instead of just joint-venturing with other investors who have time.

It all comes down to what is more important to you – time or money? Or both?

For me, it’s both but I am far from that place where full-time investing takes over my present full-time job.  How will I get there?  By learning, taking action and making my investments work for me.

To your Wealth!

Amina

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Catherine McCormack-Canadian Small Business Woman of the Month of April 2013

birthday

Catherine McCormack is an experienced Marketing and Communications Professional, a breast cancer survivor and advocate, a realtor, a wife, and mother who battles with Multiple Sclerosis.  She began her professional career in Ottawa in 1996. Over the course of her career she has worked for Canada Trust, TD Bank Financial Group, McDonnell Haynes Advertising and Keller Williams Advantage Realty. She has a long history of volunteerism and in addition to her advocacy and spokesperson work for Breast Cancer; she has served as an Ambassador for the MS Society of Canada for a number of years.

A breast cancer survivor, and avid kickboxer, she took it upon herself to spearhead a successful, high profile event while going through treatment in 2011. Kickbox for the Cure ‘kicked off’ Breast Cancer Awareness Month in Toronto, raising $250,000 in Corporate Sponsorship and donations in support of Rethink Breast Cancer in just three short months. Her experience with this and her advocacy and spokesperson work for both Breast Cancer, and the MS Society of Canada have inspired to seek out an opportunity that supports Breast Cancer Awareness, Education and Survivorship Support. In her role as the new Executive Director for the World Breast Cancer Organization, she is looking forward to doing just that. She also continues to practice real estate with Keller Williams, and is enjoying what both roles bring, balancing business, and finding a way to give back to two causes she cares deeply about.

When people find out that she has been battling MS and breast cancer, most are shocked and don’t understand how she can be so high functioning. They are baffled by her energy, fitness and drive. While she certainly has had her days through both of her respective battles, she continues to believe that the only way through these challenges is to face them head on with humour, courage, and a positive attitude.

A little over five years ago, she took up the sport of race-walking, inspired by her mother who reinvented herself at the age of 60 when she trained to power-walk a half marathon. Inspired by her mother’s drive and the elation she felt when she achieved her goal, Catherine embarked on her own quest to join her in a half marathon. Little did she know she would eventually go on to win half marathon walks and eventually meet her coach, Canada’s national racewalking coach. When she asked to train for the Canadian national championships in 2010 at the ripe age of 38, he put together an aggressive training plan which was very challenging considering her young family (boys were 4 and 6 years old). They supported her and she managed to place 5th at the 2010 Canadian Track and Field Championships, competing alongside young women in their 20s. She was elated that she could accomplish this in spite of her battle with MS.

She firmly believes that sport has been responsible for her remission from the symptoms she suffered with MS. It has allowed her to stop taking the daily, painful injections that she was told would stave off progression of the disease, yet were a daily reminder that it was there, even if she was having a good day. She is thrilled to say that she has been asymptomatic for more than five years, and sport is her new drug. When faced with the diagnosis of aggressive, locally advanced breast cancer in late December of 2010, she attacked it with the same level of defiance that she did with her MS diagnosis. Her motto has always been that she has MS, but it doesn’t have her. This motto can also be applied to her cancer battle, though her subtext, “denial is a useful coping mechanism” doesn’t quite work when your long hair falls out and you face yourself raw in the mirror.

Her professional skill set ranges from her foundation in marketing and communications, to fundraising, event management and planning, business development, and public relations. She is also a nationally ranked track athlete who applies the same discipline and drive on the track to all that she tackles. You can follow Catherine on Facebook through Catherine-Gariepy-McCormack, World Breast Cancer Organization, or Kickbox for the Cure.  You can contact her via email at catherinemccormack@rogers.com

Here is a link to an article she wrote for a special Toronto Star insert (page 7), which details her story:  http://doc.mediaplanet.com/all_projects/7788.pdf.

*What inspires you?

  • I am inspired by taking my own experiences and the challenges I’ve faced and making every effort to turn them into something positive and constructive. I truly believe that we are not given anything we can’t handle, no matter how tough; it’s what we chose to do with the hand of cards we’ve been given that make a difference.

*As a small business owner, what achievements make you most proud?

  • I’m most proud of the work that I have been able to do in support of both of the diseases I’ve been afflicted with. As an MS Advocate, I have aimed to prove through my accomplishments in sport, and maintaining a positive attitude that you can have MS, but it doesn’t have to have you. The event that I spearheaded during my breast cancer battle, Kick-box for the Cure is also an accomplishment I’m extremely proud of. Between my focus on putting together the event, and my sporting accomplishments (I competed at the Canadian Track and Field Championships in the 20K Race-walk just three weeks after my 8th and final chemo, placing 4th), I was able to manage my cancer battle while maintaining a great quality of life in spite of it all. In terms of my real estate career, I love the city I live in, and the community I’ve been a part of for over 13 years, and the Keller Williams brokerage, who are more like a family, have been so incredibly  supportive throughout the journey that began shortly before I joined their Leslieville/Beaches Toronto team.

*What advice would you give to other aspiring small business owners?

  • Take a leap of faith, believe in your dreams and vision, and avoid the nay sayers. Anything is possible if you put your mind and passion into it.

*What new things can we look forward to from your business in the upcoming year?

  • I look forward to continuing to grow my real estate business, and I’m thrilled about the opportunity to make real change, and provide much needed support through my role as ED with the World Breast Cancer Organization. We are hard at work planning for our next conference which is slated for June of 2015 and will be taking place in the fantastic city of Calgary, Alberta.

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