Book Review – “Secrets of the Canadian Real Estate Cycle”

Secrets of the Canadian Real Estate Cycle: An Investor's Guide, written by Don R. Campbell, Kieran Trass and Greg Head can be found here.  

downloadThis is a book that every Canadian real estate investor NEEDS in their library.   You can make money with almost any real estate product, IF you understand and are diligent with the information contained in this book. This is truly make it or break it stuff. Investors who understand and adapt to the real estate cycle can usually afford to make some mistakes, and the market will often correct it for them or at least ease the pain.  However, I also believe the opposite to be true, you can do everything right in real estate but if you don't understand the cycle and match your actions to the needs of the cycle, you can get yourself in some hot water.  If you learn nothing else about real estate investing,  make sure you know your market and it's real estate cycle. 

The writers do a great job of breaking down items that influence a market and those that  really drive the market.  They identify and explain 12 key drivers to look for that give you a clearer picture of where your market sits in the cycle.  In addition once you define where you are in the cycle be it boom, slump or recovery phase, they also clearly define what investing strategies to be using in each phase.

This book removes the fear of what will happen if we go into a slump phase.  It provides insight on how to maximize opportunities by knowing what cycle you are in and preparing for what is to come.  It outlines the plan that you simply need to execute.  It reminds us that even when we think that the glory days will always be here sooner or later history has told us to prepare for the rain days too.

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