Guide 2 the Grind

If you’ve ever renoed, or built a home from the ground up, you know that one of the biggest variables is getting permits and approvals.  Though the government bureaucracy can take the personal feel out of the process, at the end of the day, you’re still dealing with people. And in most cases, it’s people who want what’s best for the community they’re working in.  Adam Gilbert understands this bett...

You know, I’ve met a lot of very successful people over the years, and the number one thing that they all attribute their success to is mindset.  Specifically… seeing things the right way. This isn’t so simple as “the glass half full” kind of thinking. It’s far more powerful than that. It’s the ability to see the glass and the water as separate resources. Being creative enough to find different us...

Wow, we’ve certainly had a lot happen in the last week or so! Of course, the federal election was the major news topic, but there was so much more that didn’t make the headlines. So called “disruptor banks” are starting to make their mark on the Canadian lending scene. New tax proposals, lower interest rates, the Bank of Canada clawing back its bond buying, the price of lumber dropping, and the la...

Have you ever had a moment in your life that you had to take a leap of faith?   You know, one of those moments that if you don’t take it, you’ll always wonder what could have been?   I do my best to live my life by the credo, “ It’s better to regret something you’ve done, than something you haven’t ”. Today’s guest is the very embodiment of that.   On this episode of the “ Investment Property Inco...

I’m sure you’ve heard the old adage of the glass being half full vs. half empty. What’s the real meaning of that cliche though? In a word… Mindset . In business, and life, the major determining factor in success is mindset. That’s why two people can look at the same situation, and one sees it as a loss, while the other sees it as opportunity.  I know there have been a million moments in my career...

Up until recently, I thought that the only way to invest in raw land for profit had to do with zoning changes, or land banking. (sitting on it for years until it’s worth a bunch more than you paid for it originally) I’m happy to say… I was wrong. One of the best parts of what we do is talking to interesting people and learning new strategies. I’ve had my eyes open to new ideas a few times, and thi...

With the elections quickly approaching, and campaign promises abounding, what results can we really expect from the changes each party is proposing? Today on the “ Investment Property Income ” podcast, we take a look at the strategies each of the parties have proposed, and more importantly, the long term effects those changes might bring to Canada’s housing market.  www.guidetothegrind.com

It’s that time again, when Canadians are called to exercise their democratic rights, and vote for the candidate they feel is best suited for the job of leading our country.  And of course, with every new election year, comes new election promises.  Today on the “ Investment Property Income ” podcast, we break down the changes to real estate and lending regulations, proposed by all of the parties....

We’ve been hearing a lot about it in the news lately, and there’s certainly been a lot of blame going on. But what’s really caused the inflation we’ve been experiencing lately, and how does it affect the price of real estate? We’re talking about this, and more, on today’s episode of the “ Investment Property Income ” podcast.  www.guidetothegrind.com

Recently the NDP leadership announced that they would push for a 30 year amortization period for high ratio mortgages, if elected.  Is this a good thing? I’m not sure if you recall, but there used to be 40 year mortgages back before 2008. Post the financial crisis, banks really tightened their lending criteria in an effort to keep Canadians from feeling the full weight of the mortgage industry col...

We’ve heard tons of speculation about the market “correcting”, or even crashing, but what’s the really mean for Canadians? Today on the “ Investment Property Income ” podcast, we’re talking about the real impact this could have on our housing market. Here’s a sneak peak… it’s not that bad.  www.guidetothegrind.com

I remember falling in love with the game Monopoly when I was a kid. There was just something about collecting the properties and buying houses, that always appealed to me. So much so, that later in life I became a real estate investor, and started buying properties for real.  One thing always perplexed me about the game though… how would you make the leap from owning four houses, to putting a hote...

If you’ve ever applied for a mortgage, you know that it can be quite an involved process. From income verification, to down payment, to document collection, it can be pretty time consuming.  But why? You see, every lender is different, and every borrower is different. Document and qualification requirements can even vary with the same lender, and two different clients.  When you add up all the len...

Today on the “ Investment Property Income ” podcast, Geoff and I get into a deep discussion about the mindset required to be a long term investor.  Dealing with losses, naysayers, and success, all have their own pitfalls. Learn some of the psychological tricks we’ve used throughout our careers, to overcome the obstacles we’ve encountered.  This was a far more in-depth conversation than I originall...

So, here we are, the 5th and final secret of wealthy homeowners…   Borrow to invest.   You see, in the past, most folk’s strategy was to pay off their mortgage and live in their house debt free. That was a great strategy at the time.   But times have changed.   Today’s ridiculously low mortgage rates have created an opportunity that didn’t exist even a few years ago. We now have the ability to bor...

Continuing with the “Secrets of Wealthy Homeowners” series, today we’re talking about Secret #4, the purchase, plus improvement mortgage.   With this little gem of a financing option, it’s totally possible for you to increase the value of your home right from the get go. Of course there’s some stipulations and strategies needed to make it work, and that’s exactly what we’re talking about on today’...

One of the most misunderstood structures for mortgage payments, is the bi-weekly, accelerated, mortgage.  Sure it’s super common for people to set up bi-weekly payments. However, a lot of people think they’re paying more down on their mortgage this way, when in fact, all they’ve done is set up a bi-weekly payment.  Here’s the difference... A simple bi-weekly payment takes the amount you would owe...

If you’ve been listening to the podcast for a while, you’ll know I’m not a big fan of the RRSP. However, when used correctly, it can actually be a powerful tool to increase your bottom line.   Of course there’s a lot of drawbacks to RRSPs, not the least of which being that your money is locked into an account until you’re 65, but today on the “ Investment Property Income ” podcast, we’re talking a...

One of the most common misconceptions among first time home buyers is the belief that it’s better to have a down payment larger than 5%.  Most consider paying the mortgage insurance premium too expensive, and they want to save where they can.  Perfectly rational thinking… until you do the math.    There’s a few different ways you can think about it, but at the end of the day, the numbers truly tel...

We’re lucky enough to have expert realtor, and CGA, Trif Chaitas joining us one more time to discuss the proposed changes in the current bidding system for home purchases.   Recently there’s been a call for reform in the transparency of the “blind bidding” system in Canada. Though some see this as an answer to help cool the market, Trif offers a different opinion.   It’s his belief that the curren...

We’re super excited to have Trifon Chaitas joining us once again on the “Investment Property Income” podcast.  Today we’re talking about savings accounts that have tax strategies attached to them… that’s right, RSPs and TFSAs.  I get it, it doesn’t seem like the most enthralling topic, at least not at first. But as you start to dive into the different ways you can use these accounts to your advant...

Today of the “ Investment Property Income ” podcast, we are super excited to be celebrating our 50th episode . To celebrate, we’ve brought back our first ever guest, Realtor, and Certified General Accountant, Trifon Chaitas.  Trif is talking about the business of investing. It’s not easy to know the future of your investing ventures, but some thought, and time, right from the beginning, can save y...

You know, one of the things that I come across all the time that still bothers me, even after all these years in the mortgage business, is people not knowing, or understanding what their mortgage actually costs them.  Sure, everybody knows what they pay monthly, and most know what their rate is, but how many folks actually know what their total cost for borrowing money really is? The answer... not...

Have you heard of anyone you know using the First Time Home Buyer Incentive program? As a mortgage broker, I can say that it’s pretty rare.  Today on the “ Investment Property Income ” podcast, we talk about the recent report on the First Time Home Buyer Incentive, and what could be done to make it better.  www.guidetothegrind.com

The number one thing that keeps deals from closing is “ borrower documents ”.  No matter how hard everyone is working on the deal, if the necessary documents aren’t gathered, and passed on to the mortgage broker, nothing can happen. Lenders want what they want, when they want it, and they need to be submitted before the lender will make a decision to fund... or not fund the project.  So how do we...