It is no coincidence that the affluent invest in real estate and use this asset class as the foundation for their wealth. There are many benefits offered by real estate which provide a solid foundation for lasting wealth. The 9 key benefits include Cash Flow or Income, Appreciation, Leverage, Stability, Control, Tax Advantages, Principal Reduction,…
This is no get rich quick plan, but it’ll certainly work. Since this is meant to be more of an example of the power of real estate than an actual retirement plan, I’ll keep things simple. Assuming you have $0 right now, this plan can still work for you. The idea behind this plan is…
If you’re still looking for a gift for that landlord friend or relative of yours, you’ll likely agree they can be tough to shop for. To help you decide on the right present before time runs out, here are 5 quick gift ideas almost every landlord will appreciate. Whether you are set on buying that…
In this second piece on RRSP Mortgages, I will cover the 5 steps involved in setting up a mortgage within your Registered Retirement Savings Plan, which banks you can select as your administrator, and a word of caution to help you steer clear of the most common pitfall when putting this strategy to work. If…
Many people are completely unfamiliar with the idea of RRSP mortgages, so why not shed some light on the subject? The bottom line is that RRSP mortgages are a great tool for both borrowers and lenders to create wealth. The ability lend RRSP funds in the form of mortgages provides a new source of capital…
Intelligence is Only as Good as Its Source Have you ever considered that advice is often worth what you pay for it? Have you ever noticed how broke people love to offer their investment advice? If you take that advice, then how intelligent is your intelligence? Make it a practice to filter the advice you…
Last week another investor brought Bill 112 to my attention. If you’re a landlord, you’re not going to like this one, and it has unfortunately carried in its first reading. Bill 112 and its proposed amendments to the Rental Tenancy Act can be seen here: http://www.ontla.on.ca/web/bills/bills_detail.do?locale=en&BillID=2408 Proposed Changes The amendments take what is already a…
Each year on November 11th, Remembrance Day is observed in many countries around the world. Whether you are Canadian and know this day as Remembrance day, are American and refer to it as Veterans Day, or come from another area where it may be referred to as Armistice Day, we pause to reflect and remember…
As your portfolio grows, you will begin to discover the value of systems in your business. With a single income property things usually remain pretty simple and even if you let things slide a little, you can usually pull it together when a vacancy arises or tax time rolls around. As you begin to acquire…
In follow-up to Debt Ratios 101 which covered the GDS, TDS and DCR ratios, we’ll be looking at the differences between “Rental Add-Back” and “Rental Offset” and the impact of some recent changes on qualifying for financing. Unless you’ve attempted to plan out the financing for your first few purchases, rental add-back or rental offset…