Better to do it under an LOC. Can write off the interest that way.
As long as you use the borrowed cash to purchase investments you should be able to write-off the interest regardless.
Better to do it under an LOC. Can write off the interest that way.
As long as you use the borrowed cash to purchase investments you should be able to write-off the interest regardless.
I'm dreading the ripple effect that Vancouver sell outs will cause around here.
This raises an interesting point. If GenX or boomers cash out and leave Vancouver, what's the effect for the places east of Coquitlam or on the island? Nanaimo [HTML_REMOVED] Kamloops not so cheap anymore?
NSMBA member.
This raises an interesting point. If GenX or boomers cash out and leave Vancouver, what's the effect for the places east of Coquitlam or on the island? Nanaimo [HTML_REMOVED] Kamloops not so cheap anymore?
A lot of boomers have already done this and it has affected the prices in certain areas. If it is close to Vancouver (within a few hours) and has access to views or waterfront they will be all over it. I am sure a few people on the Sunshine Coast know how it feels to see the boomers move in and the RE prices go up.
I am sure a few people on the Sunshine Coast know how it feels to see the boomers move in and the RE prices go up.
yes and no… in 2008 the property prices dropped so low we are now only recovering to almost 2007 listing prices.
Ripple effect is people are coming narth to invest no doubt this would include some azns cuz you can get alot for a million$
Not necessarily.
With interest rates at next to nothing one could re-finance their mortgage, pull a bunch of equity out of their house and invest it in the stock market.
what could possibly go wrong!?
what could possibly go wrong!?
I follow the Heckler Maneuver. That's a thing. Google it.
I follow the Heckler Maneuver. That's a thing. Google it.
The only problem with the HM is that you lose out on 12 years of compounding at a rate that is almost guaranteed to be higher than your mortgage rate.
unless you live in Vancouver… 7.3% CAGR after mortgage interest included.
??? But if the market goes up, then a home will increase in value no matter if it's paid off or not.
To be fair there is definitely something to be said for being mortgage free.
My wife and I bought on the Sunshine Coast in December. Enough of the Vancouver madness. I'm a realtor (yes one of those) and the dream of buying where I grew up (North Van) died long, long, ago. Sadly I make the joke that I feel like I'm a salesman at a Lamborghini dealership. Sure I get to sell some pretty expensive merchandise but the reality of me ever affording what I sell is virtually zero. The prices in the past few months have gotten so out of control they completely defy any logic or reason, and that's saying something considering how out of control things have been since 2008. Very average homes East of Lonsdale selling for $2,000,000+ that just months earlier would have maxed out at $1,400,000. Realistically priced homes in West Van selling for $1,000,000 or more over asking. It's complete stupidity. I've seen most of my closest friends all have to leave the City. Virtually all our families cashing out and buying elsewhere. It was time to get out and set up shop somewhere else and it's already been one of the best things we've ever done. I still need to come to the North Shore 3-4 times a week for work but the fact that I get to leave the insane traffic and grumpy people behind is a pretty incredible feeling.
I knew that I was pretty miserable living in Vancouver but I didn't realize just how bad it really was until we left.
We bought a fantastic home in a great neighbourhood, killer ocean view, forrest and MTB trails out the door, big yard, garage and workshop. Perfect family home for us and our 10 month old son all for the price of a nice-ish newer 1 bedroom apartment in Central Lonsdale.
Traffic in Aukland is 10x worse than Van, and I've only been here a day, holy fuck…
Is there a Vancouver in Taiwan?! I had no idea!!
Nothing sums up my life's achievements like my stuffed corpse, suplexing a cougar.
My wife and I bought on the Sunshine Coast in December. …
bring that sweet townie money!! hey welcome to the coast.
bring that sweet townie money!! hey welcome to the coast.
Haha. Thanks. The lack of that sweet townie money is what brought us here. My wife is from Roberts Creek originally and I've been visiting the SSC regularly for 13 years. Absolutely love living here and pinch myself daily. Once things settle down I need to get out and ride.
Haha. Thanks. The lack of that sweet townie money is what brought us here. My wife is from Roberts Creek originally and I've been visiting the SSC regularly for 13 years. Absolutely love living here and pinch myself daily. Once things settle down I need to get out and ride.
Sound investment as once that road from squamish is finished I'm sure you'll see values go up.
Traffic in Aukland is 10x worse than Van, and I've only been here a day, holy fuck…
You went 11,000 km so you could get stuck in bridge traffic heading over to Auckland's North Shore?
And check this out:
Chinese property investment 'just beginning'
I guess a bunch of realtors paid for the study:
" * The findings of the inquiry were that foreign investment, first and foremost, is very good for the domestic economy; it helps create jobs and also it helps create supply.
Secondly, it also adds a lot of supply to the domestic marketplace, which would otherwise not be added.
And third, they found that it actually keeps prices low, because without the foreign investment, there wouldn't be new supply, which would actually drive prices even higher."
Poor Bastards!
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