In 1988, Steve Kurylo went from starting with no prospects as a realtor, to earning over $1,000,000 in commission sales with RE/MAX Real Estate–in 42 months, back when houses were valued on average around $30,000–earning Steve the title of top realtor in Edmonton for four years.
In fact, in one year Steve was selling an average of one house every 24 hours…and this was during the real estate crash that occurred between 1982 to 1986.
In 2000, Steve and his wife of over forty-four years, Joan, upon reviewing their assets realized that despite having decades of success in their business life, they had actually lost money in their RRSP investment portfolio. A portfolio that they were told would grow at a compound rate of 10% per year.
Steve and Joan’s investment brokers had previously outlined in their investment plan that, by the year 2000, there should have been a large accumulation of funds…however this was not the case. Their portfolio of RRSP investments did not grow at all, in fact, it had shrunk to less than what it had started from.
The investment company’s only advice was to simply recommend that Steve and Joan keep their funds in the same underperforming portfolio, and see what the market would do next.
It was at this point that Steve decided they needed a new investment vehicle which he could control on his own terms, and under his own direction. Steve asked for their funds to be removed from the portfolio it was invested in, and opened a self-administered RRSP with Canadian Western Trust for the purpose of investing in the mortgage industry.
Steve looked at the poor interest rate his RRSP investments had been generating, and compared his results to the high interest rates banks were collecting for the money they were lending to their customers—and the billions in profits they were generating and he was determined to unlock that same potential.
Steve reflecting on his own successful real estate background and the important role that private financing made, began to implement the same financial strategy banks use–but for his own investments.
In 2002, Steve went back to school to once again become a licensed realtor having allowed his previous license to lapse, and at the same time he began providing private one-year mortgage loans to individuals–which resulted in double-digit interest returns on secured properties.
Very quickly Steve caught up on his lost RRSP equity–and even better– regained control over his financial goals.
It was not long before family and friends began seeing the success Steve was having in the market. They knew he knew the market and could truly understand the market–something the average person would not know how to do. Family members began asking if Steve could handle their investment money as well, so he did, providing them with a security backed high-interest rate of return.
In 2003, Steve became a mortgage broker and incorporated Magnum Mortgage and Realty Corporation.
Steve had never planned to share his investment strategy with the public, as he had just wanted to further secure his own family’s asset base, and those of his friends, from any future market corrections–such as the one that had caused his previous RRSP investment to lose money. However, by 2010, friends and family members–the individuals that initially comprised Magnum’s client base–began asking if Steve could also work with their friends and family.
These close clients of Magnum’s also had friends and family members that were struggling to get ahead financially–or simply weren’t investing for the future at all because their money was doing so poorly in the bank.
As a result of these numerous requests, Steve decided to open Magnum’s investment solutions to the public. If this story seems all to familiar to your own financial history and would like a new direction please send us an email to Contact@magnumcorp.ca or give us a call at 780-467-6393 and one of Magnum’s trained staff will be more than happy to explain how Magnum can provide you with an asset backed investment with greater stability and rates of return then you will find elsewhere along with an explanation of the risks involved. Why wait, when you can get started unlocking your true investment potential today.