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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 24, 2019 70   0   0   0   0   0
Although it may seem counterintuitive, cash flow is not the be all and end all of investing in real estate. “Everyone has such a cash flow mindset, and don’t get me wrong, cash flow is amazing and will help support a different lifestyle eventually, but making those dollars year-over-year is where the wealth comes from,” said veteran investor Lee Strauss of Strauss Investments.“If you have an extra $1,000 in your pocket every year, the return on investment is dismal and doesn’t even add up.But if you take $26,000 year-over-year, now we’re talking.” Strauss is, of course, alluding to tenants paying down a mortgage’s principal balance for the investor while the latter rides the property’s appreciation. “On average for a single-family dwelling, the principal pay down is going to be about $6,000 a year,” he said.“The other reason is you have an income-producing asset that is hedged against inflation, and that income-producing asset appreciates, on average, 5%. “If you purchase a $400,000 property and it goes up by 5% in one year, that’s $20,000 in the first year.Five percent appreciation plus mortgage pay down, which you’re not paying and will be about $6,000, is $26,000 in one year.” Mind, appreciation is a compounding factor. “After year three, you’re at about
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 24, 2019 77   0   0   0   0   0
B.C.’s housing markets continue to be national top performers in the most important metrics, but December data from Statistics Canada showed that while the provincial population exceeded 5 million for the first time, the territory also lost about 1,200 people in Q3 2018. A major contributing factor to the outbound flight is the throng of young professionals leaving for more affordable housing elsewhere in the country, according to Finance Minister Carole James. Speaking to The Canadian Press, James stressed that “there’s no question that Vancouver is facing a brain drain.” “Crisis is not too strong a word to describe the challenges we are facing, not just in Vancouver, but other urban settings around our province.” Vancouver’s prices bear out these observations:The REBGV’s December report showed that the average price of a detached home in the city was at just over $1 million, while attached properties were at $809,700 and apartments at $664,100. Read more:Perceived corruption is driving mistrust in the Vancouver market[1] Andy Yan, director of the City Program at Simon Fraser University, said that Vancouver is good at enticing those who are still studying and those who are just starting their careers, but it could certainly do much better in retaining this pool of valuable talent. Vancouver’s
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 24, 2019 117   0   0   0   0   0
With a diverse selection of selection of older condo units that can be purchased for less than $350,000, coupled with relatively high average income, Ontario has proven to be one of the country’s most active sellers’ markets in 2018. During the fourth quarter of last year, the aggregate housing price in the city reached $475,831, representing 9.3% annual growth.Two-storey homes were at $510,840, enjoying an 11.0% year-over-year increase. Bungalows went up to $453,698, growing by 6.3% over the previous 12 months.Condos stood at $328,436, with a 3.1% uptick. Read more:This is Ontario’s most promising and consistent market[1] These numbers promise further market dynamism this year, impelled by strong purchasing power and an avid home-buying populace. “Homes that come on the market are quickly sold, with multiple offer situations often present,” according to John Rogan, broker of record and branch manager of Royal LePage Performance Realty. “Overall, healthy employment and wages are propelling higher housing demand in the region.This increasing demand, coupled with Baby Boomers remaining in their homes longer than previously expected, is putting pressure on all housing types and fueling price appreciation.” Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how much you can afford
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 22, 2019 126   0   0   0   0   0
According to a report from Altus Group, commercial real estate firms are beginning to adopt property technology platforms in ways that promise to change the industry in the near future. The Altus Group CRE Innovation Report surveyed 400 commercial real estate executives at firms with assets under management totalling over $2 trillion, 41% of whom are already using automaton for benchmarking and performance analysis.Thirty-nine percent are using automation for scenario and sensitivity analysis and 36% are using it for budgeting and forecasting. “Sixty-one percent of CRE [commercial real estate] executives around North America use some online lending platform, and 23% of them are using them in a pretty significant way,” said Ross Litkenhous, global head of business development for Altus Group. “From a crowdfunding perspective, you’re giving a broad, wide array of investors the opportunity to invest in a piece of real estate, whereas in traditional commercial real estate, you have folks that syndicate money or are tied in with a high net worth individual.Everybody gets a percentage of a deal.From crowdfunding you’re going out to the masses and asking people to invest in a deal through some sort of online platform, which is not the way real estate has been traditionally done.It’s taking evolutionary leap.” Some of the online lending firms are Lending
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 22, 2019 85   0   0   0   0   0
A combination of a stronger economy and record-low unemployment numbers propelled Victoria to a robust housing market performance in Q4 2018, according to the most recent Royal LePage House Price Survey. Victoria’s aggregate home price reached $695,793 in the fourth quarter, growing by 8.4% year-over-year.Meanwhile, condos enjoyed a 10.3% increase (to $512,024), and two-storey homes had an even more pronounced 13.2% growth rate (to $966,790). “We saw strong price appreciation year over year in the third quarter of 2018 due to an overall lack of supply, coupled with increased housing demand generated from our healthy local economy.However, during the last half of 2018, we saw prices moderate and level out,” Royal LePage Coast Capital Realty associate broker Bill Ethier noted. “The shortage of supply is being further shaped by a combination of federal and provincial regulations that have slowed the real estate market in the province.As a result, we are seeing a decrease in new residential construction.” Read more:Vancouver home price growth not the fastest nationwide[1] Ethier added that Victoria has established a reputation as a good destination for sound investments and relaxed lifestyles. “Retirees who choose to buy a condominium are competing against first-time buyers resulting in a lack of inventory.Retirees who are unable to find a condominium
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 22, 2019 69   0   0   0   0   0
CREW has never been shy in its belief that real estate is a business, and that’s not just because of the dollar signs.Real estate involves the same levels of planning, strategizing and execution that undergird every successful business. But according to Linda and Keith Perrin, co-founders of All-Ternative Solutions, many investors new to real estate don’t realize the importance of creating a sound, business plan and investing footprint.It’s a situation they hope to change as they welcome a fresh crop of investors into their real estate training program. “A lot of the people we come in contact with think ‘I want 1,000 doors in ten years’ is a business plan,” Keith says, “but a phrase like that is a dream or a goal, not a plan.” Without a proper, revisable business plan – which allows investors to chart their progress, tweak strategies and make sounder decisions about their properties – too many investors are just hunting in the dark, hoping to get lucky. But novice investors with no business experience may find creating a business plan daunting and, ultimately, discouraging.That is why the Perrins make building a business plan and footprint central to their teaching.At their upcoming three-day training event, taking place in North Bay, Ontario, from February 14-16, all attendees will be leaving with
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 22, 2019 68   0   0   0   0   0
When another day of US-dominated news draws to an end, few Canadians are lying in bed thinking, “Boy, things sure look good in America.We should buy some property down there.” But the political funk hanging over the country obscures some essential truths about its real estate market.Job growth has been staggering, putting more Americans in a position to either buy or spend more on improved rental accommodations.Most critically, though, prices for renovated properties in solid rental markets are incredibly low, often less than what the common Ontario or BC investor will put up for a 10% down payment on a 700-sq ft condo that has no chance of cash flowing. Canadian investors are running themselves ragged for 4% returns.Keith and Linda Perrin, the husband and wife duo behind All-Ternative Solutions, want to change that by making property investment in the United States as attainable for Canadians as it is for Americans.For them, there has rarely been a better time to purchase rental properties in the US. “In 2008, the market dumped,” says Keith.“And that was actually the best opportunity to start making money in the United States.The reason why we are in the states that we are in – New Jersey, Ohio, Kansas – is because they are some of the later ones to be recovering
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 20, 2019 67   0   0   0   0   0
The acme of real estate activity is spring, but getting in early could tender gems for investors. “There’s far less competition from other buyers at this time of year with the financial hangover from the holiday season,” said Vicki Schmidt, broker of record and co-founder of JUSTO, a Toronto-based realty brokerage.“Buyers are typically strapped for cash and they can’t make big purchases, so buyers who are prepared financially have an opportunity to get a good price.” It’s also an opportune time for investors to find bargains, especially on fixer-uppers.Any seasoned real estate agent will advise their client to list during spring, but sellers who put their properties on the market during the frigid winter months are doing so out of necessity. “When we talk about the idea of people needing to sell, it’s for a reason,” said Schmidt.“It could be an Estate sale or a property for which timing isn’t so important.That property could need fixing up, and this time of year is usually when properties that need more work find their way onto the markets, so investors looking to get in early and close at a good price, but do renovations and update the property through the spring and summer months.” December was one of the slowest months in recent
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 17, 2019 86   0   0   0   0   0
With seniors slated to comprise nearly a quarter of Canada’s population by 2030, real estate that caters to their needs is being touted as one of the most investment-friendly sectors this year. That’s in spite of a somewhat volatile interest rate environment that’s expected to carry through 2019, says Montreal-based Fred Blondeau, an analyst with Echelon Wealth Partners. “The sector should be able to generate significant growth no matter how interest rates evolve, so we’re putting more emphasis on senior living at this point,” he said, referring to a report Echelon released last month. The report, The Ultimate All-Weather Investment:Canadian Senior Living Real Estate, differentiates between long-term care, which is the purview of governmental agencies, and senior housing, which requires private funds. “The appetite from investors for senior living spaces remain strong,” said Blondeau.“The sector will be subject to strong inflows from investors wanting to put their money in the space.” Echelon Wealth Partners reckons that times are turbulent and, in particular, it is worried about the global macroeconomic outlook.However, according to Blondeau, irrespective of whether the economic environment improves, remains stable or becomes more unstable, senior living spaces will be unaffected. “Especially in Canada’s strongest markets, like Toronto and B.C.,” he said.“We also feel like the market will continue
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 17, 2019 89   0   0   0   0   0
A real estate agent in Ontario recently discovered that two of her clients used cameras and microphones to listen in on the conversations of potential homebuyers. According to CBC News, Hamilton realtor Webster said she only found out about the surveillance when her clients mentioned it.Webster told CBC News that neither seller had installed the surveillance devices specifically to monitor potential buyers.It's also unclear if they were hidden, or had simply gone unnoticed. "You can see how somebody could listen in and get some very interesting information,” Webster told CBC News.“And then, when it's in your lap, you don't want to use it, but it could be tempting for some people.It could be tempting for anybody." While her clients said that they did not use this information to their advantage, Webster points out that temptation is inherent. "If your comments and their comments were being recorded certainly that puts the ball in the other person's court doesn't it?” she said. Now Webster is calling for a rule to compel sellers to say if their homes are under surveillance.According to CBC News, she also wants listing agreements to say if there's audio or video surveillance onsite, and for a warning sign to be posted
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 17, 2019 87   0   0   0   0   0
Yukon Housing Corporation announced the availability of two new homes in Porter Creek.The duplex includes two two-bedroom units that are accessible and energy efficient. Yukon Housing Corporation will own and operate these homes as part of the rent-geared-to-income program, which houses families and individuals from the Yukon Housing Corporation wait list. "This new addition to our social housing rental stock made good use of our existing property in Whitehorse by replacing a single family home with a duplex,” said Pauline Frost, minister responsible for Yukon Housing Corporation.“This energy efficient duplex will keep two families safely and securely housed for many years to come." "The peace of mind that comes with having a secure and stable home is invaluable,” said Larry Bagnell, MP for Yukon.“This is why our Government is glad to be involved in the creation of these brand new homes, which will provide two families in Porter Creek with high quality, energy efficient and accessible housing.I'm glad to see we are making progress in tackling housing affordability, all while supporting the local economy." Funding for this project came from the Northern Housing Fund under the National Housing Strategy. Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 15, 2019 148   0   0   0   0   0
Temperature-controlled industrial properties are a little-known, yet superlative, asset class that’s sure to grow in popularity among institutional investors. The facilities are designed to maintain temperatures as low as -29 degrees Celsius, which makes construction expensive and buy-ins prohibitive for many, but at below 1% of Canada’s overall industrial sector, it teems with opportunity. “It’s a great investment, not only for REITs, but institutional and private investors, as well,” said Victor Cotic, vice president of national investment services with Colliers International.“All the growth we’re seeing among industrial companies in real estate is all related to consumer goods.Manufacturing has really taken a downturn, so industrial real estate today is predominantly around consumer goods, retailers, and public consumption.” Temperature-controlled industrial facilities primarily house food and pharmaceuticals, and for that reason they’re more or less recession-proof. “Those are perfect examples of consumer goods because they’re linked to population, and unlike some other retail sectors, it’s recession-resistant,” continued Cotic.“Even in a down economy, people are going to consume food and need pharmaceuticals.They might buy a cheaper variety, but they’ll still need to put food on the table.” Colliers oversaw a leaseback sale between Congebec Inc.and Skyline Commercial REIT, with the latter taking ownership of a nine-property national portfolio of temperature-controlled warehouses.Two-thirds of the facilities are divided between Montreal and Quebec
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 15, 2019 155   0   0   0   0   0
The average condo apartment rental rate in the GTA has grown by 9.3% last year to exceed $2,300, according to Urbanation’s year-end 2018 rental market results released late last week. This marked the greatest rise ever since Urbanation began tracking the metric in 2010, the report stated.The 2018 increase also outstripped the 8.3% pace in 2017, contributing to the 4.1% overall average growth over the past 8 years. “Recent housing policy changes, combined with strong demand fundamentals and supply constraints led to record growth for rents in the GTA last year.These factors should continue to keep upward pressure on rents, but to a lesser degree in 2019 as affordability becomes a bigger issue and more condominium and rental units finish construction,” Urbanation president Shaun Hildebrand said. Read more:Toronto due for double-digit market rent increase in 2019[1] Inventory stood at 27,426 units as of the end of 2018, but lease activity declined to 8%, the lowest it has been in 5 years. “The reduced level of turnover was likely a function of the expanded rent controls for tenanted units introduced in 2017 and the increased barriers to homeownership caused by elevated prices, higher interest rates, and new mortgage qualification rules.Low turnover limited the amount of supply in the market
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 15, 2019 94   0   0   0   0   0
While Montreal’s housing market is renowned for its relative affordability, especially when compared to powerhouses like Toronto and Vancouver, the city’s luxury segment proved to be no slouch as it boasted of remarkable sales growth last year. Transactions involving single-family properties worth more than $1,000,000 went up by 18% in 2018, while sales of condos worth more than $500,000 grew by 30%, according to the Quebec Federation of Real Estate Boards. This activity impelled the market’s sales to reach a record high last year, with a total of 46,753 deals across all housing types.The 2018 figures represented 5% growth over 2017, and marked the 4th consecutive annual increase in transactions. Read more:Montreal leads country’s metro areas in price growth[1] Condos (overall) experienced 14% growth last year, while plexes (2 to 5 units) had 3% more sales.Single-family homes went up by a relatively meek 1%, which still did not dent the region’s new sales record. “Generally speaking, 2018 ended with market conditions clearly in favour of sellers for single-family homes, condominiums, and plexes.The scarcity of supply of single-family homes as compared to the demand is undeniable on the Island of Montreal, where the number of months of inventory is slightly less than five,” the QFREB noted. Are you looking to
News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing January 13, 2019 99   0   0   0   0   0
The fourth quarter of 2018 bore witness to the most significant housing correction in Canada in a decade. That’s according to the Royal LePage House Price Survey, which also notes there was a 4% year-over-year rise in in the national home price, averaging $631,223, during Q4 2018. The Greater Montreal Area, Canada’s second-largest metropolitan region, led the way in year-over-year price appreciation for Q4, surging 4.1% to reach $407,230.During this period, two-storey homes in the Montreal area rose 3.5%, for an aggregate price of $517,190.The region’s condo market also performed well, with a 4.9% hike in appreciation to reach $328,254 for the quarter. Residents of the Greater Toronto Area spent 2018 adjusting to new mortgage rules, which—coupled with the region’s high price points—slowed movement in the real estate market.Buyers searched for affordability and they found it in Toronto’s suburbs, the condo sector, and other cities in Southern Ontario.The City of Toronto nevertheless rebounded in the fourth quarter, but that’s more than can be said for its surrounding areas.Toronto’s aggregate home price rose 8.8% in the fourth quarter of 2018, but the GTA as a whole only saw a 3.4% gain. “The market correction in the suburbs of Toronto has been more significant than elsewhere in the country, because price increases in recent years
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