3 Ways to Make Money Using Debt in Canadian Real Estate in 2021
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- Опубліковано 30 чер 2024
- 3 Ways to Make Money Using Debt in Canadian Real Estate in 2021
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With any and all investing you should always obtain independent legal, taxation and financial advice from a licensed professional before investing any of your own money.
Time map
00:00 using borrowed money to get rich
00:38 my mission
00:47 debt misconceptions
01:51 insight #1 mortgage your properties
03:42 3 ways to make money on a rental property
06:05 how home equity line of credit works
08:39 bonus
08:58 how to use credit cards to make money in real estate
10:29 let’s connect
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Darren Voros
Darren’s diverse skillset has taken him to many stages around the world. He has been featured as an on-air renovation expert on “The Goods” (CBC) and “CityLine” (CityTV). Darren was also the behind the scenes contractor on “Save My Reno” (HGTV) and “Game of Homes (W Network).
Darren is an accomplished real estate investor, trainer and coach. He controls a portfolio of properties worth just over $10,000,000 and has travelled across North America educating, inspiring and motivating audiences on the subject of real estate investing, financial independence and financial literacy. Darren’s willingness to give back prompted him to launch his UA-cam channel in 2020 in order to have a wider reach in educating investors.
Great explanation using simple numbers. Always like the humour!
You made an error on you second example when calculating your cash flow with the home with 100k down. It was 2400/year not 24000/ year. So you anual total is significantly less than paying for a home in cash.
I believe there was a typo in the calculation
The Cashflow should have been $2400 not $24 000 annually however his total of $29 400 is correct based on $2400 annual cashflow
All good strategies Darren. I like the HELOC one.
Thanks Ann.
Love this
Thank you so much for watching.
Love your work. Just a note: at 5:30 your calc for rental property with 80% mortgage, you have 24k as opposed to 2.4k on screen.
Ahhh, thank you for the correction.
Thanks for the videos Darren, always very educating! Question, where do I go to find these private lenders? I’m in my late 20s and I want to get into real estate investing.
👍👍👍
Your Awesome !
Thank you Rita!
Ok so now I know I can buy furniture for my new place using their credit card ( no interest for a year ) and grow my credit score even more 🙏🙋🏼♀️ winning !!
I hope ikea has one lol
That's the idea!
Can the first topic mentioned be useful if the mortgage rate is higher like in 2023?
Oh your total was correct, just confused me there.
Thanks! If I take a Heloc on my primary residence and invest in a rental property or JV or Private REIT- are the interest payments on the HELOC tax deductible ?( I am not incorporated).
Yes. As long as you are investing outside a tax shelter. Like RRSP,TFSA. Keep a paper trail. My CPA does it for me.
I have a LLC (oilfield contractor) is it a bad idea to add real estate investing for rental income to it? Or keep it as its own company? Not much liability in my contracting company, just my pickup truck.
where do you find the people willing to pay 12% interest on the loan you give them using your heloc?
Would love to see this same breakdown but with 2023 interest rates.
Challenge accepted!
Darren,
Thank you for all your knowledge
Can’t wait to invest and be financially free one day and live on the beach haha 🏖
That's the dream for many people. Set goals and reverse engineer them. You'll be there in no time.
Please note at 5:30 minutes of the video it is 2400 not 24000, however, the final answer is correct.
I didn't get the math part can you help me understand 12k+24k+15k = 29k ?
Mindbuildingsolutions approved!
Excellent content and video.
(Subscribed.)
Is the masterclass videos?
Hi Suresh. It's online learning and live coaching. I'm running a promotion until Sept 6th. Message me if you're interested in it.
sound like robert
You made a massive miscalculation. You stated you’ll make $2,400 per year with a $200 positive cash flow. In your calculation you wrote $24,000, overstating your ROI massively.
I'm human. We make mistakes. But I appreciate you letting me know.