Still better than a fixed 4% for a 5 yr mortgage for at least 18 month AND smaller prepayment penalty if you exit early. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

Almost any US city is a good buy. Most Canadian cities outside AB or SK is a hold right now I’d say. Values in most BC and ON cities in decline this year AND tough to cash-flow with 70%+ leverage AND rent controlled. I’d say this year and next buy in AB or SK. Wait for bottom to form in BC...

Assume variable rates are 1.25% higher by mid to late 2023. Variable rates of P-0.7-0.9% are common today. I’d get that esp if you want to sell before mortgage expiry date. Variable rates are always cheaper than fixed rates, on average. Thomas Beyer, Asset Manager & Improver, Hard Asset...

Access to cheap credit is vital for real estate investors. If you have bad credit it’s a sign of bad past behaviour that has to be cleaned up first. Focus on that - such as those steps listed by Tina - then buy real estate. Of course you can get private money but they will also check your...

Money is fungible. Understand the mortgage penalties, usually three month on a variable but not by law but by custom. Maybe Nesto charges more? Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

Income from flipping properties is taxed 100% indeed, but holding, or even intending to hold, then selling for a gain, qualifies for the 50% exemption. Flipping is not defined. Use broad discretion. If it’s a year or less one could argue it’s flipping but if your intention was to hold and you...

If .. being the keyword. Leverage has its own pros and cons but like a pen, tank, canon or knife can indeed be very impactful. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

What province is this? Do you have the original lease ? Keep the security deposit in lieu once they have left. Your purchase contract should state what belongs to house (ie chattels such as W/D, dishwasher, etc) as it is usually listed. So, once they have left I’d summarize the item that...

Yes it’s certainly an option worth exploring. Reverse mortgage rates in the 4.5% range these days though ie about 1-1.25% higher than regular mortgage rates. Benefit of LOC is you pay interest only on what you took out, and rates usually 0.5-1% above prime. Cheapest money is a regular...

I live on the Sunshine Coast (aka Costa del Sol aka BC’s Riviera) north of Vancouver now but I am in Alberta frequently as many assets are there to be managed, inspected or assessed ! Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor...

AB or SK still cheap with ample upside. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

1.5% annual rent caps. Tough to evict. Very tenant friendly. High prices to buy old product with huge deficiencies. BC = Bring Cash !! Lots of it. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

I guess no lunch .. Sent from my iPhone using myREINspace

Assuming the mortgage is easy. Just switch title. Seller is technically still on the hook and you are now in default of the mortgage terms but banks rarely enforce it. However in July the bank wants their money and now YOU the new owner must refi ! AfS works best if there’s a bit more time left...

Option 4: Higher risk but higher reward You take the $300,000 and open a margin investment account, say RBD Direct, BMOInvestorLine, TD Edge or Questrade You deposit this $300,000 and buy 3 x $200,000 of the afore mentioned stocks / ETFs / REITs ie own securities worth $600,000 (you could go...

Option 2: create a mortgage & LOC combo ie home equity line up to 75% ie 450,000 and have a LOC behind it so that LOC room increases as mortgage gets paid down. So 150,000 mortgage plus 300,000 room to spend or invest. Pull out $1000/month so with interest reserve that’s 20 years of $1000/month...

I think spending your home equity as you age makes a lot of sense. We can discuss pacing of it, of course. Several options exist Option 1: Instead of an LOC they can consider a reverse mortgage although that is even more expensive. Thomas Beyer, Asset Manager & Improver, Hard Asset...

RE is not “safe” either when too levered or income too low. Sent from my iPhone using myREINspace

Why pay it off ? The house will pay it off once sold. How old are your parents? Do they spend too much ie could they reduce lifestyle expenses? Sent from my iPhone using myREINspace

Funding a satisfying career is paramount. University often overrated and now often self-serving, ie benefitting unionized staff and profs first and foremost, not society or students anymore. You may enjoy a career in sales say a realtor, or selling cars, chemical equipment, trucks or...