Guide 2 the Grind

Have you ever stopped to think about what’s actually driving the demand in our housing market? There are obviously a number of factors that go into it, but why do people keep paying higher and higher prices for homes, and when…..if ever, is the bubble going to burst? Depending on your mind set, here’s the good, or bad news… It’s not a bubble.  Home prices in the GTA have been steadily rising for 2...

Have you ever wondered what the bank’s number one investment is?   It’s you.   More specifically, they invest in your ability to repay a mortgage to them. They study the borrower, assess their risk, decide whether or not they’re going to lend you money to buy your house, and set up a nice 25 year income for themselves.   So if the banks think mortgages are such a great investment, why don’t they o...

With the price of lumber through the roof, a lot of folks have been putting off renos because they’ve just become too expensive. But will the prices come back down?   Who knows?   What I do know for sure however, is there’s a ton of ways to access money to get renos done. Whether it’s a new home, a flip, or an upgrade to the home you live in, there’s a whole bunch of options to get the funds you n...

Today we get to chat again with Jen Robertson , from Royal LePage NRC, and I actually got really excited during our discussion... for three reasons.   First, Jen is awesome! She really knows her stuff, and she’s just plain fun to talk with. We had a great time having her on the show.   Second, I got to learn something new. As long as I’ve been in the business, there’s always more to learn, and tha...

Ok, I know it’s no secret that the pandemic has made the world go mad, but what the heck is going on out in the Niagara Region?? Ontario’s wine country is catching up to Toronto, but it’s done in one year what Toronto has done in the last fifteen or twenty. Prices have risen 36% on average in the region this year alone! With the higher home prices come higher rents. This leads to the age old debat...

I’m sure by now you’ve heard all about the new changes to the “Stress Test”. It’s been all over the news, and I’ve already heard it explained a thousand different ways…..and really….it’s not that big of a deal.  At least, if you learn to think like a lender.  See, banks are investors just like you and I. They have way more money, and a ton of people that work for them, but at the end of the day, t...

Over the years, one of the most important rules I’ve learned in business is, trust your gut! I remember having dinner once with a very prominent businessman, and he told me, “ If you get a gut feeling about someone, trust it. It’s actually your subconscious brain referencing old information. You might not know exactly what it’s referencing, or why, but you’ve seen something like this before, and i...

I was asked this week “What’s the difference between the First Time Home Buyer’s Plan, and the First Time Home Buyer’s Incentive? ”.   This really made me think, because I haven’t heard of it in a while. In fact, I’d pretty much forgotten about it.   When Geoff asked me the difference, it brought up some old strategies that I haven’t used in a while, and led to today’s episode of the “ Investment...

Have you ever heard the quote, “ If your why is strong enough, the how doesn’t matter. ”?   I remember hearing it many years ago when I first started to learn about sales. It didn’t really resonate with me back then, but it’s something I’ve never forgotten.   Then, on today’s episode of the “ Investment Property Income ” podcast, Geoff started asking me questions about how I got started in the rea...

Have you ever had a massive project ahead of you? I mean one that’s so big, you just look at it and say, “I don’t even know where to start.”?   We all have at one point, right?   That’s when all of the little voices in your head start to kick in. The ones that make you procrastinate, think you can’t do it, start to bargain with yourself, and eventually either get started, or tell yourself you can&...

Have ever heard a real estate “guru” preaching that you can become a real estate investor with “no money down”? If you haven’t already, stay in the industry long enough and you most definitely will.   Typically that claim is followed by a sales pitch offering to teach you the secret formula for some ridiculous price, and only for a limited time…..act now!   These types of tactics are what end up w...

Do you remember the golden era of pension plans in Canada?   A time when folks went to work, raised their families, and generally enjoyed life without worrying about their retirement, because they had a company pension?   Careful, your answer to those questions will show your age.   Of course I’m being a little cheeky, but it’s true. Most people under 35 or so, don’t remember a time when all the b...

Inspiration can be a double edged sword. On one hand, it gets people motivated, and dreaming of things they never thought possible for themselves. On the other, some tend to dream too big in the beginning and can get very discouraged by the reality of things.     That’s not to say that big dreams aren’t possible, they totally are!    It’s easier though, to start out small, earn your chops, and bui...

Today’s episode of the “ Investment Property Income ” podcast is an unusual one. It’s not often that you’ll find a mortgage broker, and a mortgage specialist from one of the major banks, on the same show… and getting along.  Mobile Mortgage Specialist, Nancy Dass, joins us again today to discuss the differences, pros, and cons of working wit an independent broker, versus a bank employed mortgage s...

So.... this was a bit of an eye opener for me.   Jim Rohn famously asked, “ Why does a goose fly south for the winter?  Because it’s a goose !” Humans however, are not geese, we have the ability to change our direction at any time.   Where am I going with this?   Rent to Owns.   In the past I’ve met Rent to Own companies that have left a bad taste in my mouth. For many years I had a less than favo...

Something I’m certainly starting to see a lot more of these days is folks trying to buy properties out of province... especially the east coast.     Call me conservative in my investing mentality, but I’m not a huge fan.     Don’t get me wrong, I totally understand the appeal... especially living in Toronto. The prices are a lot lower, the properties are bigger, and then of course the romanticism...

When I was first introduced to the strategy of buying “pre-construction”, I had no idea how vast the subject actually was.  Here’s the craziest thing I learned about it….. You can make a ton of money investing in pre-construction, without ever closing on the property.  I know that sounds too good to be true, but it is. Of course there’s a number of nuances that you have to understand before you ca...

You know, sometimes it’s really hard to make a topic relatable. Some topics are just not interesting to most people. Today’s discussion is one of 'em… insurance.   A long time ago, when I was first learning the business, I was taught that “ facts tell, stories sell! ”. Meaning, if you want to explain a topic to folks, and have it be relatable, you have to tell it in a story. People are far mo...

Geoff and I take a bit of a divergence from the standard financing topics today, and get a lot more personal with some of our investing and business experiences.  A few days ago Geoff was having a conversation with one of our colleagues, and she mentioned that she prefers to work with people who have “weathered the storm”, so to speak.  This began a whole conversation about the “fear of loss”. Pro...

Sometimes the hardest step is anything is the first one. The fear and trepidation can cause folks to procrastinate indefinitely, or worse, not get started at all.  This is why an entire industry has sprung up around teaching people how to invest in real estate.  Folks spend their hard earned money on seminars, books, and courses learning how to become rich by investing. Of course there is always v...

It’s no secret that we’ve been experiencing one of the largest real estate growth spurts, at least in the “905” regions, that Canada has ever seen.  With the rising home prices comes a lot of skepticism and even fear.  The Canadian regulatory bodies released the guidelines for their new stress test, just a few days ago. We’re going to be talking about how the new test works, and more importantly,...

Do you have any elderly relatives? Today we hit pretty close to home with the “Investment Property Income” Podcast.  Geoff is helping one of his elderly relatives get set up for a long term game plan, and he’s running the mortgage arrangements by me to make sure that everything is the best it possibly can be.  We do a quick breakdown of the situation, and run over the concerns, and considerations....

Our topic today is a big one. There are all kinds of books out there about real estate strategy, and creative ways to get financing, but do they really work? In short...it depends. A lot of the books are written for US investors, and unfortunately a lot of what they talk about simply doesn’t apply to Canadians. For better or worse, things are just a little different up here.  So let’s break down w...

This week we broke new ground on the “Investment Property Income” podcast. We did our first ever live Zoom recording. I’m happy to say, it went pretty well. We had a couple of guests drop in, and covered some pretty interesting stuff. Not the least of which… ...what makes a “bubble”? Now I’m not saying 100% that we’re in a bubble, however there are a lot of signs that would traditionally indicate...

It’s no secret that rising interest rates, coupled with a real estate buying frenzy, are really starting to look like a bubble that’s gonna burst.  So how do you avoid it? Here’s the thing, the most important thing you can do is educate yourself. If you’re reading this email, congratulations, you’re already ahead of the crowd.  Lots of people overextend themselves. They buy houses they can barely...