Do you have any rentals and or plan too? Where do you plan to invest? Share below.. 💪😊 Get a Free Financing Consultation on How to Buy Multiple Rentals in Canada: bit.ly/2XyogBe 🤩 Free Report on the Top 18 Investment Markets in Ontario - bit.ly/3gLHM4p 😊👉Get Your Free real estate investing toolkit for your journey: bit.ly/2YPm4n4
@amansidhu2014
2 жыл бұрын
You just nailed it Mama !! Exact, short and to the point information. Thank you so much!
@anandlobo1685
Жыл бұрын
Amazing video…lots of info & well presented…keep ‘em coming mama
@FinancialNirvanaMama
Жыл бұрын
Thank you! Glad they are helping. Thanks for letting me know. You made my day 💕
@jasonstupak4535
2 жыл бұрын
Watched and liked, thanks Tracy!
@FinancialNirvanaMama
2 жыл бұрын
Glad you enjoyed it!
@keepkamread
2 жыл бұрын
Love your videos @Financial Nirvana Mama. Great job. Do you think the Ottawa city market and the outskirts of the city is a good market to invest in real estate at the moment? With such highly inflated property prices, it seems to be very difficult to find good solid cash flowing properties. What are your thoughts on that?
@FinancialNirvanaMama
2 жыл бұрын
Ottawa is always great. It’s not finding deals but creating deals. The last two years has been tough because very limited supply. Outskirts..I’m not sure, it’s based on macro like jobs, transit etc for that area. Always think of what tenants you can attract when you look at a property
@madeleinewinterdown3256
2 жыл бұрын
Okay. We kind of fell into this situation: we bought and paid off our first house here in O-town. It's only 15 yrs old. Nice finishes. Beautiful updates. It's up 100% over what we paid (value estimate 700k). But we let it sit empty. Why? It would fetch 2400$/mo. or close to 30K a year in passive income and not require much maintenance (pretty new). But still we hold. Empty. Because of the finishes. The floors & custom cabinetry and other upgrades we did at time of purchase. Is this madness? We've moved on to a new house. The passive income from the first house could be flipped into our dividend portfolio, if only we took the plunge with tenants. Our neighbours took on tenants and they promptly PARKED on the lawn, ruining it. This is a nice hood, too. Crazy. What do you think? We see the first house as diversification in our portfolio and prefer it empty (it only costs us property taxes to hold long term). Is this nuts?
@FinancialNirvanaMama
2 жыл бұрын
Please put in the time to get educated about managing a rental. It is a business, not something that can be figured out, which is what a lot of people end up doing. The issue is that they many people go in it blind, and end up with situations likes your friend did. Please do credit checks, only one year leases, social media checks, work verification, LinkedIn snoop, google searches etc, lots of videos and books on how to do this... I also offer a course but it’s for people who want to buy multiple rentals. My last home is in a very nice area and has many high end finishes (it was my home before) and I’ve had four different set of tenants already. The place is great shape. But pls be super picky with the type of tenants you attract and be clear on the rules in the lease (ex: no parking on lawn) But in the end, whatever makes you feel comfortable. You can always decide a bit later to do this. Or hire a very good full time professional property manager, they typically charge 10 percent of rent per month to manage a rental. And you can also get rental insurance for damages. Also hire a maintenance lawn mowing for the summer can help u take of the place
@madeleinewinterdown3256
2 жыл бұрын
@@FinancialNirvanaMama Thank you for your very comprehensive reply! I do see very nice homes listed on one property management company here in Ottawa, whom I know personally, but even the best tenants seem to ding the hardwood & not take care of the lawn, etc.... things that don't happen with a stock portfolio... Thank you for not immediately calling me stupid for not having it rented. There are tax implications for us (negative) the second we use that non-primary as a rental and also the cost of retro-fitting / fixing the house for sale (as opposed to having it always ready to go in a hot market) is a consideration. The house is also a nice retreat for myself (I have a number of little kids). Thanks again! Great channel!
@fpmcontent1282
2 жыл бұрын
Do we have index funds in Canada ? Or are ETFs the same thing ? I’m confused? I was watching your earlier video and Forgot to ask Please give me your opinion
@FinancialNirvanaMama
2 жыл бұрын
Yes for index in Canada. ETFS can track indexes like tsx or top mega cap companies s&p 500 or can contain a basket if companies like banks. Just google search the etfs and it’ll tell you type of companies it has.
@CanadianDividendInvesting
2 жыл бұрын
Awesome video!
@FinancialNirvanaMama
2 жыл бұрын
Thanks!
@benoitlebeau8459
2 жыл бұрын
Always good info! Thx for sharing your investment journey and guiding us!
@FinancialNirvanaMama
2 жыл бұрын
My pleasure!
@ka-koolkid809
2 жыл бұрын
How long do you have to wait before moving out of your principal residence and convert it into a rental property?
@sunnyd06able
2 ай бұрын
1 year
@2402zia
2 жыл бұрын
Lmao " please don't buy that boat"
@cspa11
2 жыл бұрын
Are there any other downsides besides higher rates when it comes to private lenders? Such as higher risks or hidden gotchas.. great content as always!
@FinancialNirvanaMama
2 жыл бұрын
There are risks with private lenders, you have to work with their terms, sometimes good or bad. But it can also be more flexible if you negotiate well, like paying interest only for certain amount of time.
@eydat
2 жыл бұрын
Thank you!
@FinancialNirvanaMama
2 жыл бұрын
Your welcome!
@alokkah
2 жыл бұрын
thanks for the awesome video! I was just wondering what you thought about trying to maintain multiple rentals in a market like Vancouver/lower mainland BC? I’ve run the numbers and given that my boyfriend and I are both decent income earners the tax we’d pay on our rental incomes seems to leave us with less than what would be needed to cover our mortgage yet our building is current 75% rentals. Just wondering how other people navigate this? We’re both working for the foreseeable future so is it better for us to just size up our primary residence and try to get capital gains that way instead of taking on so much debt with multiple rental properties?
@FinancialNirvanaMama
2 жыл бұрын
tough to have rentals in vancouver. Unless you go super far away, like abbotsford, chiliwack with airbnb...it needs to cashflow. I've had my students invest on the islands near vancouver but you really need to know the market very, very well.
Пікірлер: 28