Search found 592 matches

by Just a Guy
13 Feb 2021 13:14
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2021
Replies: 134
Views: 19144

Re: Housing Market 2021

And in the rest of the country...

I just picked up a place which originally sold for $75k and had 25k of renovations done to it for 60k.

Canada is much more than gta and gta.
by Just a Guy
05 Jan 2021 00:52
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2021
Replies: 134
Views: 19144

Re: Housing Market 2021

Official assessments, realtor valuation, appraisals are all guesses as to what a property is worth...it’s all made up. It can be anything you want, most people like it high so they feel successful. The only thing it’s worth is what someone else is willing to cut a cheque for, no more, no less. When I go in to appeal my assessments if the government insists on a high number, I ask them to cut me a cheque for that amount...somehow they always refuse.

I own a lot of properties, their value to me is how much Money they generate for me every month. I don’t think of them being worth anything except what a bank would loan me for it.
by Just a Guy
09 Dec 2020 23:10
Forum: Financial Planning and Building Portfolios
Topic: What should a person do in their 40's?
Replies: 36
Views: 1912

Re: What should a person do in their 40's?

First thing, don’t get too comfortable. I too was living debt free at one point, had a couple months of savings, then I got injured and couldn’t work for more than two years. Wound up living off of credit cards.

Try to develop a passive income. Then you can live off a steady income regardless of your employment status.
by Just a Guy
05 Dec 2020 19:44
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: FOMO by not owning real estate? [Fear Of Missing Out]
Replies: 47
Views: 6712

Re: FOMO by not owning real estate? [Fear Of Missing Out]

There is a big difference between between a home and an investment. I’d say try not to confuse the two. If you want an investment, buy and investment property, designed to make money. If you want a home, buy a home, designed to live in. The nice thing about investing in real estate is you can do it with no money, so the roi is very high. Not to say it isn’t work though.
by Just a Guy
04 Dec 2020 15:07
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

Sorry for O/T but, I have two pre-teen daughters and I would like to know how you have two teenagers who have earned that level of wealth? Having one is quite incredible, but two is outstanding! Any guidance you could provide would be greatly appreciated. Thanks in advance. They’ve been involved in making money since they were very young. They started their own businesses at 8, learned stock and real estate investing after that, they also own part of one of my companies now. My 15 year old is already taking over another company of mine, she should be fully in charge by the time she comes of age. Right now she does all the books and is filing the taxes with the accountant. She’s working on getting certified to be in charge of the whole thin...
by Just a Guy
04 Dec 2020 15:02
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

fireseeker wrote: 04 Dec 2020 14:55 Maybe the "My kid is better than your kid" bragging can be taken somewhere else?

Reminds me of what Garrison Keillor said of Lake Woebegone: It's "where all the women are strong, all the men are good-looking, and all the children are above average."
Reality is, there are people better off than you. There are people better off than me as well, only I don’t hide from that, I learned from them. But it’s easier to sit around feeling sorry for yourself than improving yourself.
by Just a Guy
04 Dec 2020 15:00
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

BRIAN5000 wrote: 04 Dec 2020 14:51
="Just a Guy" post_id=678998 time=1607108411 user_id=9870]
=BRIAN5000 post_id=678996 time=1607107786 user_id=1915]
Sort of like Trump?
Not like you would probably be a better way to think about it.

Mini me's ignorant & arrogant, no friends?
Just saying, if you want a role model, take a successful one over one who’s not.
by Just a Guy
04 Dec 2020 14:00
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

BRIAN5000 wrote: 04 Dec 2020 13:49

Sort of like Trump?
Not like you would probably be a better way to think about it.
by Just a Guy
04 Dec 2020 13:55
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

You seem to only think in black and white, which is kind of sad. You assume a 30 year old car is a piece of crap. They happen to be Mercedes in mint condition. Oh and they learned how to repair them as well. You also don’t seem to understand not wanting fancy crap just to show off. One of the reasons I made money was so I didn’t have to wear a suit, I don’t like suits. My kids and I live life the way we want to, not the way society wants us to. As for fine dining, I’ve often said on here that we are food snobs, but we also all know how to cook better than most. I guess my kids just have different values than you do, they live by their own rules, not someone else’s. They have true freedom, they can, and will, do anything they want to with th...
by Just a Guy
04 Dec 2020 13:03
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

I have more than two kids. Third one is well on their way to being Millionaire before 20.

Btw, none of them carry handbags, or like shoes, clothes etc.

My second kid is talking about going to Scotland for a year, but doing an exchange program through school, so the cost will be minimal. They figure out ways to do what’s they want without spending a fortune.
by Just a Guy
04 Dec 2020 11:27
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

As for being a cheapskate, there’s probably a reason they are worth seven figures while still in their teens, and you probably aren’t. They were raised to make it, not to flaunt it. Sorry for O/T but, I have two pre-teen daughters and I would like to know how you have two teenagers who have earned that level of wealth? Having one is quite incredible, but two is outstanding! Any guidance you could provide would be greatly appreciated. Thanks in advance. They’ve been involved in making money since they were very young. They started their own businesses at 8, learned stock and real estate investing after that, they also own part of one of my companies now. My 15 year old is already taking over another company of mine, she should be fully in c...
by Just a Guy
03 Dec 2020 20:49
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

As for being a cheapskate, there’s probably a reason they are worth seven figures while still in their teens, and you probably aren’t.

They were raised to make it, not to flaunt it.
by Just a Guy
03 Dec 2020 20:02
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

I wonder if he’s misjudging people as well. My two oldest kids are still in school, one lives at home still, the other rents. They drive cars that are 30+ years old, wear jeans and a tshirt most days. One works for a landscape company the other doesn’t work. No fancy jewelry, no big travel...the type of person he warned us about. Only they are worth seven figures each.
by Just a Guy
03 Dec 2020 17:23
Forum: Under the Mattress: Protecting Your Money
Topic: Dating while well off
Replies: 115
Views: 5888

Re: Dating while well off

Why are you revealing your net worth? Is it your strategy to make you seem more attractive? If so, you probably deserve what happens. Most wealthy people don’t flaunt their wealth. Try reading the millionaire mind. I also don’t recommend revealing your net worth to your kids, it tends to make them feel entitled. I admit it can be hard to hide some signs of success but, instead of talking about the house you own, why not consider it the mortgage you need to service, it makes you sound a lot less well off, and you’re not lying.
by Just a Guy
03 Dec 2020 17:00
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: FOMO by not owning real estate? [Fear Of Missing Out]
Replies: 47
Views: 6712

Re: FOMO by not owning real estate? [Fear Of Missing Out]

What goes up, can also go down...a few years ago, I was buying one beds for 65k, this year I’ve been paying 45-50k for a similar unit. Several years before both of these the places sold for 150k+. I know because I look up the sale history as part of my purchases. Real estate doesn’t always appreciate, many “investors” lost their shirts in real estate.
by Just a Guy
02 Dec 2020 01:42
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: FOMO by not owning real estate? [Fear Of Missing Out]
Replies: 47
Views: 6712

Re: FOMO by not owning real estate? [Fear Of Missing Out]

One thing to remember is the “gains” you are talking about in real estate are estimates. You never really know what real estate is worth until someone writes you a cheque for it. I own a ton of rentals, to me their worth is the rent I generate from them each month. Sure, I care about their “value” when I borrow money against them, but otherwise I don’t really pretend they are worth a lot just to feel better about my financial situation.
by Just a Guy
30 Oct 2020 21:33
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

I'll suggest that most (particularly couples) buy a house as a 'where-to-live' choice and a place to raise a family, not primarily as a tax-free investment. And that government doesn't intentionally incentivize owning a house from a tax perspective. Until recently as I recall, the value of your house tended to reflect inflation. Housing in some Canadian markets has certainly outpaced inflation over the last few years, for a number of reasons, but not primarily due to government incentive. That said, changes made to the T1 in 2016 wrt reporting the sale of your principal residence mean the government recognizes the potential for abuse to be occuring, with material amounts involved in some cases. "This change will improve compliance and...
by Just a Guy
27 Oct 2020 01:49
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemmased

For most of the middle class, this is their only savings, so the government has incentivized it for them. Can you imagine how much the government would have to hand out of people didn’t have a house to sell in their old age?
by Just a Guy
27 Oct 2020 01:46
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Investing book
Replies: 15
Views: 1414

Re: Investing book

The trick to reading financials is to realize what they aren’t saying or trying not to say. You get this from experience. I’d suggest you join some boards and find out what it’s like to be on one. You learn a lot from that.
by Just a Guy
31 Aug 2020 09:38
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

Mordco, you do understand how the Tax system is designed and works don’t you? It’s insensitive based to control your spending. They don’t tax capital gains on primary residents (yet), because it is basically the only savings most people have. They also are favourable to landlords because they provide housing for people. The government provides favourable treatment, not to be unfair, but to encourage people to spend money in certain endeavours they want people to do. Many people confuse tax “loopholes” with control mechanisms of the government.
by Just a Guy
30 Aug 2020 20:37
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

Knowing tenants like I do, I’d never want one in my house...things can sprout legs that you may not notice and if I had kids, I wouldn’t want them in my house either...they aren’t all bad by any means, but I’m not willing to take that chance ever.
by Just a Guy
28 Aug 2020 10:34
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

Cash flow has nothing to do with commercial vs. Residential. I’ve got a lot of tenants putting money in my pocket every month. But there is a huge difference between a house and an investment. A house is a place to live, an investment generates cash flow.
by Just a Guy
26 Aug 2020 19:06
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

Bought two properties last month for 45k, this month a developer offered me 80k on each as he wants to buy the whole building.
by Just a Guy
26 Aug 2020 15:07
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

If you’re going to invest in real estate do it for cash flow, not appreciation. One you know you’ll make money, the other is gambling. The first also allows for the second, but it doesn’t always work in reverse.
by Just a Guy
26 Aug 2020 14:18
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Rent vs Buy Dilemma
Replies: 88
Views: 12847

Re: Rent vs Buy Dilemma

Funny, if no one loses money in real estate, who owns all the foreclosures I pick up cheap? Maybe they don’t report it to you, but it certainly happens all the time.