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23/08/2019
This week I discuss the age old question, should I buy or should I rent? The answer depends on you. Are you ready to buy? Do you have stable income? Have you been saving? Are you planning on living in...
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This week I discuss the age old question, should I buy or should I rent? The answer depends on you. Are you ready to buy? Do you have stable income? Have you been saving? Are you planning on living in the same place for at least the next 3-5 years? Are you making crazy returns on your investment portfolio and don’t want to move the money? The timing of buying varies from person to person. There is no set time. That being said, if you have some savings, stable income and good credit, you should definitely look into buying. There is no better way to create wealth than real estate.
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16/08/2019
This week I discuss the Certificate of Location. What is it? Why is it necessary?
A certificate of location is an important document in your real estate transaction. It is a document that tells us t...
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This week I discuss the Certificate of Location. What is it? Why is it necessary? A certificate of location is an important document in your real estate transaction. It is a document that tells us the lot delimitations, any servitude’s on the property, flood zone risks, as well as any possible encroachments. It is important to review this document in order to know important factors relating to your property. Comment below any additional questions you have!
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09/08/2019
This week I discuss the elephant in the room. Real estate is the largest transaction most ever do in their life. It is completely normal to feel overwhelmed at times during a transaction. It’s normal ...
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This week I discuss the elephant in the room. Real estate is the largest transaction most ever do in their life. It is completely normal to feel overwhelmed at times during a transaction. It’s normal to second guess yourself after putting in an offer on a property that you saw 4 hours ago. One of the benefits of working with a broker is that they help you keep a clear mind throughout the entire process. With someone walking through it with you, it's a bit easier to remember why you started your search, what you were originally looking for and what may or may not be the right property for you. Though it's completely normal to feel overwhelmed, don't let it stop you from making a move on your dream home.
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02/08/2019
This week I discuss what happens between fulfilling conditions and going to the notary. This period can sometimes feel like a limbo stage in the transaction. Though there’s a lot of excitement as the ...
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This week I discuss what happens between fulfilling conditions and going to the notary. This period can sometimes feel like a limbo stage in the transaction. Though there’s a lot of excitement as the notary date approaches, there’s also a few things to keep in mind… 1. You will need insurance for the property you’re about to purchase. In order to get the best coverage and price, it’s best to shop around. 2. You will likely need to meet with your bank to finalize the mortgage papers, prior to the closing. 3. You will have to advise all your service providers of your address change and give them 1-2 weeks notice in order to avoid delays on the installation. 4. You will have 2 notary appointments to attend. The first one is to sign your mortgage act and review the sale documents. The second one will generally be 2-5 days after the first meeting. Both the sellers and the buyers will be present as this is when you will sign the actual sale (!) If you have any questions, be sure to comment below!
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26/07/2019
This week I discuss the best time to list your home. There’s a lot of discussion as to when the best time to list is. I believe it generally breaks down into 2 categories - residential vs investment p...
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This week I discuss the best time to list your home. There’s a lot of discussion as to when the best time to list is. I believe it generally breaks down into 2 categories - residential vs investment properties. When listing a residential home, the best time to list in Montreal is in the Winter/Spring. As of the 3rd week in January, the Montreal market is on fire. People are back from vacation and thinking of where they’re going to spend their next summer. Although in the recent market there hasn’t been a bad time to sell, the historic trend is Winter/Spring. When listing investment properties, the best time to list is when they’re fully rented and bringing in appropriate rents. To further discuss, don’t hesitate to reach out!
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19/07/2019
This week I discuss a powerful tool that allows me to analyze different deals. When looking at investment real estate, it all comes down to the numbers. If the numbers make sense, we buy the deal. If ...
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This week I discuss a powerful tool that allows me to analyze different deals. When looking at investment real estate, it all comes down to the numbers. If the numbers make sense, we buy the deal. If the numbers don’t work, we pass on it. The beauty of the calculator paired with an experienced eye is that we can effectively remove the emotional side of the purchase. That said, the calculator is only as good as the assumptions the user makes! To hear more about analyzing investment deals, feel free to reach out!
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12/07/2019
This week I discuss multiple offer situations and whether or not one should accept second position. In the current market, it’s very common to see multiple offers being placed on the same home. Althou...
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This week I discuss multiple offer situations and whether or not one should accept second position. In the current market, it’s very common to see multiple offers being placed on the same home. Although we always try to be the winning bid, it’s not always the case. In those scenarios, it is quite common to see sellers offer second or third position to the next best offers. This means that if the first offer falls through due to the buyers being dissatisfied with their inspection, review of documents, or simply failing to get their financing approved, the sellers automatically go to the offer that’s in second position. By accepting second position, one can avoid going through another bidding war and potentially being outbid once again. For more information on the topic, be sure to watch the video!
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05/07/2019
This week, I discuss handling an offer on your property or hopefully multiple offers! In my experience, when a home is listed and marketed properly, you will have the most exposure in the first 2 week...
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This week, I discuss handling an offer on your property or hopefully multiple offers! In my experience, when a home is listed and marketed properly, you will have the most exposure in the first 2 weeks. This means that the largest buzz and emotional hype will be during that period. This happens because the initial buyers don’t want to miss out on this fantastic opportunity! I know that everyone always wants to maximize their return, but we have to be conscious of fair market value. There is a strong negative correlation between days on market and sale price. The longer the property is on the market the lower the price. To avoid being caught in these scenarios, I strongly suggest you give the first few offers the attention they deserve.
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28/06/2019
This week I discuss insurance and the importance of having the right home insurance. Regardless of whether you’re an owner or a tenant, insurance is imperative! Insurance is one of the things in life ...
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This week I discuss insurance and the importance of having the right home insurance. Regardless of whether you’re an owner or a tenant, insurance is imperative! Insurance is one of the things in life that you should not skimp on. When you actually need it, you want to make sure you’re covered.
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21/06/2019
This week, we're discussing how to increase your home's value. Though some renovations or additions may feel like a must to you, others may lead to a greater return on investment. Be sure to watch to ...
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This week, we're discussing how to increase your home's value. Though some renovations or additions may feel like a must to you, others may lead to a greater return on investment. Be sure to watch to learn more about our top 3 tips! What are your tips? Feel free to reach out or comment below your thoughts.
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14/06/2019
This week, we decided to do something special. With Father's Day happening this weekend, I invited my dad and first mentor for a quick Q & A. We discussed his experience in the Real Estate world, as w...
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This week, we decided to do something special. With Father's Day happening this weekend, I invited my dad and first mentor for a quick Q & A. We discussed his experience in the Real Estate world, as well as his perception of the industry. To all the Dads out there, we hope you have a wonderful weekend!
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07/06/2019
This week we’re discussing the dos and don’ts of listing your property. Here are my top three tips:
1. It’s imperative to use a professional photographer. People no longer look at lower quality imag...
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This week we’re discussing the dos and don’ts of listing your property. Here are my top three tips: 1. It’s imperative to use a professional photographer. People no longer look at lower quality images. It’s almost as though we’ve forgotten how to process them and simply click next. 2. Depending on the property and the market, a video and/or 3D tour can help you capture international buyers as well as save you from unnecessary visits. 3. Open houses have made a huge comeback! People are making their rounds Sunday afternoons to find their future home. Sellers are also opting to hold off on visits until their open house to generate buzz and showcase the level of interest. What’s your top tip? Feel free to reach out or comment below your thoughts.
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31/05/2019
This week I discuss the ongoing debate of cash purchase or mortgage. The first thing to consider is your situation. Ultimately, that will determine which route to take.
Personally, I prefer to use l...
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This week I discuss the ongoing debate of cash purchase or mortgage. The first thing to consider is your situation. Ultimately, that will determine which route to take. Personally, I prefer to use less cash and opt for a mortgage. By doing so, I can put the cash I saved to work and generate a greater return elsewhere. I’m a strong believer in building passive income, which requires investing cash. Due to the incredibly low interest rates we're seeing, I opt to use less cash when purchasing a property. Comment below your thoughts!
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24/05/2019
This week I discuss EQUITY. This is a fancy word that gets thrown around a lot in the real estate world. In this video, I break down what it actually means and how to calculate it.
Equity is what I ...
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This week I discuss EQUITY. This is a fancy word that gets thrown around a lot in the real estate world. In this video, I break down what it actually means and how to calculate it. Equity is what I like to refer to as your property’s untapped potential. If you’ve owned a property for several years, chances are you’ve accumulated a healthy amount of equity. Contact me today to discuss how to get the equity on your property working for you to generate more income.
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17/05/2019
In this video I discuss one of the most important conditions when purchasing a condo - review of documents! It is so important to understand what the documents mean and how the affect you as a buyer. ...
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In this video I discuss one of the most important conditions when purchasing a condo - review of documents! It is so important to understand what the documents mean and how the affect you as a buyer. By reviewing the documents, you will get a better understanding of the buildings finances and the future costs you may incur. This also helps give you an idea of how things are managed in the building. Do most co-owners vote to get work done right away or do they postpone until it’s imperative? These are all things we can notice by reviewing the property docs. If you have any questions, comment below!
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10/05/2019
In this video I discuss credit and its importance in the buying process! I go over my top tips to maintain excellent credit and how to improve your credit if you've struggled with it in the past.
Thi...
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In this video I discuss credit and its importance in the buying process! I go over my top tips to maintain excellent credit and how to improve your credit if you've struggled with it in the past. This will apply to your credit rating which affects how all creditors view you before granting you a credit facility. Credit facilities include mortgages, credit cards, car loans, lines of credit, as well as all other purchases made on credit. Comment below if you have any additional questions regarding credit!
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03/05/2019
In this video we cover tips about where to look for your next investment property. If you’re looking to buy a real estate investment, you always want to be ahead of the trend to see the greatest retur...
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In this video we cover tips about where to look for your next investment property. If you’re looking to buy a real estate investment, you always want to be ahead of the trend to see the greatest return. This video offers some tips on what to consider when looking for investments and how I guide our clients towards the best properties. Send me a message if you’re interested in knowing which neighbourhoods are worth researching and investing in today!
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26/04/2019
In today's video, I discuss search criteria! It is super important to take a few minutes to think about what we’re really looking for.
What’s important to you? Bedrooms? Backyard space? Pets? Locati...
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In today's video, I discuss search criteria! It is super important to take a few minutes to think about what we’re really looking for. What’s important to you? Bedrooms? Backyard space? Pets? Location, location, location?! In this video I go over the key questions to ask yourself and to discuss with your broker. Ultimately, if you have a clear understanding of what you need, we can do a much better job at finding the right home for you! Comment below with questions, thoughts, or ideas for upcoming videos!
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19/04/2019
Closing Costs:
In this final Buying Process video, I walk you through closing costs. This often forgotten part of the transaction can cost you $5,000-$10,000 (or more) !
The key components of closi...
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Closing Costs: In this final Buying Process video, I walk you through closing costs. This often forgotten part of the transaction can cost you $5,000-$10,000 (or more) ! The key components of closing costs include: - The inspection - The notary fees - Adjustments - CMHC Insurance Tax (if applicable) - Welcome Tax All of which are critical to a transaction. The inspection ensures we get as much information as possible on the property we are preparing to purchase. It serves as a first line of defence against hidden defects. The notary ensures that the property we are purchasing has no other debts or liens against it. They also reconfirm that there are no issues with the title and handle registering the sale in the public registry. Adjustments are a mechanism used in order to reimburse any prepaid expenses. The notary will calculate to the day for any amounts that should adjusted in favour of the buyer or the seller. This typically includes taxes, rent collected, condo fees, oil, etc. CMHC insurance tax is a 9% tax on the insurance premium. In Quebec all insurance policies have a 9% tax. This amount is not financed in the mortgage and must be paid around the time of the sale. Lastly, there is Welcome tax. Sometimes, it is referred to as land transfer tax and it is actually a common tax around the world. We won't go into the exact calculation of it, but it's definitely a cost that needs to be accounted for.
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12/04/2019
CMHC - Mortgage Insurance Premiums
In this video I explain what mortgage insurance premium is, the benefits it has and the costs associated to it.
A lot of people are under the impression that you ...
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CMHC - Mortgage Insurance Premiums In this video I explain what mortgage insurance premium is, the benefits it has and the costs associated to it. A lot of people are under the impression that you need 20% to put as a down payment on the purchase of a property. The reality is that you can purchase your first property with as little as 5% down. The video will help you understand the breakdown of mortgage insurance premium on your mortgage, as well as the different premiums based on your down payment percentage. I encourage you to reach out if you have any questions. I’m sure someone else will be wondering the same thing!
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05/04/2019
This is the first of a 3 part series, where I will be walking you through the buying process. Buying your first property can seem like a daunting task. The videos will help you better understand the t...
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This is the first of a 3 part series, where I will be walking you through the buying process. Buying your first property can seem like a daunting task. The videos will help you better understand the terminology, the costs to be expected, as well as the process as a whole. This first video covers the vocabulary used by banks when discussing mortgages. I've explained what amortization is, as well as mortgage terms and interest rates. I will also be sharing my thoughts on the current Montreal fixed and variable rates. I look forward to helping you better understand real estate and why it’s a powerful wealth generator. Please comment any questions below. I’ll be sure to address them in upcoming videos.
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22/03/2019
Earlier this week, CMHC announced some exciting news for first home time buyers.
1. The home buyers plan got an upgrade! Each buyer can now withdraw up to $35,000 from their RRSP for the purchase of...
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Earlier this week, CMHC announced some exciting news for first home time buyers. 1. The home buyers plan got an upgrade! Each buyer can now withdraw up to $35,000 from their RRSP for the purchase of their first property. A couple could effectively use up to $70,000 from their RRSP’s! This represents a $10,000 increase from the previous limit of $25,000. It's important to note that the amount withdrawn still has to be repaid over the following 15 years. 2. The government has introduced a first time home buyer incentives. First time buyers getting an insured mortgage (less than 20% down payment) can now receive an interest free loan of up to 10% of the purchase price for new properties or up to 5% of the purchase price for existing properties. The incentive is capped at $40,000. 3. This incentive applies to buyers with a household income of less than $120,000 and for properties with a maximum purchase price of roughly $500,000. The maximum loan amount + incentive amount can not be more than $480,000.
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