condo

/Tag: condo

October 2015

Facts by Email #39 – October 12-19, 2015

By |2016-01-23T13:07:02+00:00October 13th, 2015|Facts By Email|

4 BEDROOMS, 3 BATHROOM HOUSE, BUILT IN 2006 - ONLY $179,900 CASH FLOW PROPERTY IN THE LOWER MAINLAND LOOMING BC STRATA RULE COULD CHANGE RESALE MARKET - ALLOWING EASIER SALES OF ENTIRE BUILDING THE ILLUSTRIOUS JIM DINES ON THE GREAT MICHAEL CAMPBELL SHOW EAST VANCOUVER PRICES RISING FASTER THAN NEW YORK CITY CALGARY CONDO INVENTORY PILING UP LOTS OF DEALS REQUIRE BEST POSSIBLE PREPARATION FOR GETTING THE MORTGAGE PARKING CASH FOR PROFIT NORTHEAST MARKET OUTLOOK

September 2015

Facts by Email #35 – September 21-28, 2015

By |2016-01-23T12:31:38+00:00September 14th, 2015|Facts By Email|

THE IRRATIONAL ECONOMIC SUMMIT CONFERENCE - OZZIE REPORTS HOT PROPERTIES SUBSCRIBERS: BOOK YOUR TICKET TO OUTLOOK 2016 CONFERENCE ALBERTA: REALTORS REPORT FROM THE TRENCHES 3,000 NEW AND UNSOLD CONDOS IN CALGARY EDMONTON NEW CONDO SALES DOWN 63% REITS: IT'S THE ECONOMY, STUPID 5 AREAS WITH HIGHEST CONDO FLIP POTENTIAL INDUSTRIAL 'CONDOS' HOT IN FRASER VALLEY TUCSON ANGLES FOR DEEP POCKET SNOWBIRDS

What exactly is a co-ownership property?

By |2015-09-09T10:41:15+00:00September 7th, 2015|Hot Tip|

Well, in a co-op essentially – residents buy a share allocated to a particular apartment in the co-op building but the building is owned by the Co-op Society. There are two kinds:

Profit and non-profit. The non-profit buildings are mostly government sponsored (through loans), have income restrictions and are meant to be given back at no profit. Actually most subsidies run out by 2020 … will be interesting to see what happens to them then!

The ‘profit’ ones are different. Actually, this style of ownership – while not popular in Vancouver is very much in vogue elsewhere. Most of New York is owned as a co-operative. And if you are paying […]

August 2015

No money down

By |2015-08-29T11:26:09+00:00August 29th, 2015|Hot Tip|

For years we hear the ads on radio and TV… “No money down, no money down”. Sounds like snake oil … yet I keep hearing that you can still buy real estate with no money down. Truth or fiction?

Well, there are ways to buy with “no money down”, some are easy and obvious, others need some work – all need thinking out of the box.

For instance: 

As a residential home buyer for your own use you can buy with 5% down (with CMHC insurance)… It is just a question of finding that extra 5% – there are Dad, Mum, grandparents for that…

(Buy a condo in […]

Powell River investment property

By |2015-08-29T10:59:20+00:00August 29th, 2015|Hot Property|

1. Powell River investment – 4 bedroom house in Westview Powell River, rented to long term tenant for $980 per month plus utilities. Asking $219,000 and looking for investor as tenant is wanting to stay.

2. MAC Marketing offers “Live Free” for a year on all 1 bedroom homes at RedBrick. Own for 5% down and move in now – you’ll pay no mortgage payments, no strata fees, no property taxes for one year. From $263,000

Not losing money is as important as making money

By |2015-08-22T11:33:06+00:00August 22nd, 2015|Hot Tip|

There are of course a lot of ways where we could lose money … but the big three are:

  1. Buying the wrong product
  2. Not understanding the system/jurisdiction you are in
  3. Buying without subject when you have not sold your current house yet.

For instance, if you had bought a regular condo (unlimited personal use) in 1998 in Whistler you would have seen values overall double, but had you bought a Phase 2 (limited personal use) condo … you would be just even. BUT, had you bought a quarter share you lost 40% or so and had you bought a hotel unit you lost 60% and more.

Also, […]