This is good advice above. Consider a move to Alberta as you can earn double. Yes you need more experience AND more money to buy a house, however if it is owner occupied you need only 5% down. That may work. Perhaps someone in your family can co-qualify for a mortgage and/or lend you the down...

That discussion needs to be had in context with other assets they may own in RRSPs and TFSA as well as income(s) or a retirement plan. In principle, it makes sense to borrow against your home in moderation to enhance your lifestyle or to invest. Cash-flow matters. Income matters. Other assets...

Variable rates today are around prime, but if you get one today maybe prime minus 1% or so. Prime bring 2.45% (a total ripoff btw) ie 1.45 if refi today. If prime goes up 1.5-1.75% over two years it might not be more expensive than fixed, maybe in 2-3 years though. So no, no need to lock in...

Protest and vaxx mandates will end and Trudeau will resign sometime in mid to late 2022 as he is the most distrusted, divisive and financial inept PM in Canadian history. Many truckers will not leave voluntarily. Now they froze their funds. This will not end well unless all mandates are...

AB house prices will rise 20 to 25% on 2022. BC about 10% more in most cities. Condos less than that, say 12-15%, less in BC. Mortgage rates will be 4% for 5 yr fixed by YE 2022 and 4.5% by YE 2023. Retail lackluster. Industrial up too 20-25%. AB will lead Canada in GDP growth and...

No you canNOT hold RE directly .. only indirectly via a REIT or shares of a PubCo or trust units, or by being a lender as described above. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

No. RRSPs or RESPs or TFSAs canNOT hold real estate directly. You can however lend money as a mortgage, usually in second position, but could be in first. Not many trustees do it but OlympiaTrust does it and has extensive documentation on their website. Pick an interest rate that suits borrower...

Yes appraised value should be at least 10% higher. Sent from my iPhone using myREINspace

Located in the thriving South Okanagan Wine Capital of Canada, Oliver, this 28 townhome development lot is shovel ready with approved plans and development permits. Phase 1 of Oliver Landing was built and sold in 2018. Phase 2 and 3 is highlighted by its prime riverfront location with...

Here is the listing for our 1.4 acre land on river close to downtown Oliver in S-Okanagan. DP approved for 7 4-plexes, each being a 3 BR ~1850 sq ft three level townhouse. That may interest you or some smaller builder / developer in your circle of influence. 28 THs that will sell for...

Congrats !! Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

Sometimes it is sometimes it is not. Ownership can be in many forms: Undivided interest Tenant-in-common Trust LO Corporation It depends how you set it up. And as always: in life you don’t get what you deserve, you get what you negotiate ! Thomas Beyer, Asset Manager & Improver, Hard Asset...

CMHC now offers 95% financing .. with some caveats of course. Sent from my iPhone using myREINspace

Opportunity exists, always. But you have to look look and dig deep. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com

I too built at a great financial loss with lots of personal stress. Don’t do it unless you partner with someone experienced and even then high risk. Building used to be medium to high risk endeavour with fairly high financial rewards. Today it is high risk with very weak returns. Overtaxed and...

Be mindful that a share sale implies that you are also liable for capital gains of the assets within the corporation and an accountant has to advise you how much that is. As such detailed tax statements of the selling corporation are paramount. It makes the due diligence longer and more...

You need tax advice and an indemnity to any taxes owed. A business purchase has far greater risk than the asset purchase as you also assume all liabilities for example past taxes owed or owing or lawsuits even if not yet filed. Needs a far more complex purchase agreement AND an in-depth...

There’s many successful and also many unsuccessful syndication schemes. Sent from my iPhone using myREINspace

The further you are from a big city the cheaper it is. Many very rural areas exist in Canada or US which are very cheap because they are far FAR away from roads, water or utility access. Keep in mind that areas are cheap for a reason ie they have little to no development potential for a long...

Search realtor.ca for suitable properties and target area and contact a few. Then write offers once you understand what value looks like and what areas to avoid or target. Sent from my iPhone using myREINspace