Really like hearing John's personal perspective, which isn't typical realtor talk. These days, it's so much harder to buy and hold multiple properties due to their sky-high valuations. Obviously if you bought pre-Covid or earlier, you benefited from lower prices (although still overpriced compared to international markets including the US).
Our wealth advisor recently advised not to hold our property for rental in Vancouver, BMO is not expecting Canadian real estate to appreciate over the next decade and there were much greater returns in bonds, foreign markets, etc.
People should listen to Dennis O'leary's investing advice and never put more than 20% of your money into a single sector. Having 100% of your investment in Canadian real estate is a bad idea, despite the last 20 years being so lucrative. The fact a lot of Canadians are also using leverage means they have more than 100% invested in real estate, adding even more risk.
The response to the first question should be a firm 'no' if they still have a mortgage on the property. In addition the CAP rates are poor for townhomes and especially at current interest rates.
A 65-year old putting themselves in a situation where they need to work 5 more years is a risky plan. The economy is in a downturn and unemployment is going up. They are one layoff or health event away from disaster.
"people gravitate to the people who tell them what they want to hear" - that pretty much sums up society these days
Really like hearing John's personal perspective, which isn't typical realtor talk. These days, it's so much harder to buy and hold multiple properties due to their sky-high valuations.
Obviously if you bought pre-Covid or earlier, you benefited from lower prices (although still overpriced compared to international markets including the US).
You are so honest wish you best of luck
Great show as always!
Can't get enough of this show and I am not even into real estate.
My advice: find an investment that doesn't involve permanent damage to a huge sector of society.
These people are not investors, they are gamblers. Investors know that past performance does not dictate future returns.
Awesome advice. Thanks guys
Our wealth advisor recently advised not to hold our property for rental in Vancouver, BMO is not expecting Canadian real estate to appreciate over the next decade and there were much greater returns in bonds, foreign markets, etc.
It's good to be diversified... Just take anyone's opinion who's trying to sell something to you with a grain of salt. No one knows the future
790k for a townhouse in Thorold is wild
Your dad sounds like my dad he is 100 % correct
Realestate has been good to my family
If yiu can handle the worst you are good😊
Haunted by an Overleveraged FOMO decision!
people buying near subway stations will expereince vibration and noise from the subway, just ask people who live near subways. It is not always good.
Great Q&A session!
People should listen to Dennis O'leary's investing advice and never put more than 20% of your money into a single sector. Having 100% of your investment in Canadian real estate is a bad idea, despite the last 20 years being so lucrative. The fact a lot of Canadians are also using leverage means they have more than 100% invested in real estate, adding even more risk.
The response to the first question should be a firm 'no' if they still have a mortgage on the property. In addition the CAP rates are poor for townhomes and especially at current interest rates.
John Pasalis for PM
A 65-year old putting themselves in a situation where they need to work 5 more years is a risky plan. The economy is in a downturn and unemployment is going up. They are one layoff or health event away from disaster.