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Posted Mortgage News

Darryl Sittler made his fortune in Real Estate… not Hockey!

RRSP home buyers plan

A few years back, I had the privilege of hearing one of my childhood idols – former Toronto Maple Leafs captain, Darryl Sittler – speak at a Real Estate Investment Network (REIN) meeting.

In case you haven’t heard of REIN, let me share some details about this group of real estate investors that gets together to network and share valuable information affecting real estate in Canada. The leader of the group is Don Campbell. His approach to buying investment properties has proven to be very sound and profitable. In fact, his “Top 10 Best Cities to Invest” lists are legendary! Continue reading “Darryl Sittler made his fortune in Real Estate… not Hockey!”

Posted Mortgage News

Ontario Housing Market: Increased Opportunity for Investors!

Ontario Housing Market Stats Image - April 2018

Rental vacancies are ridiculously low and demand for rental units is high… and growing!

That’s just a sampling of the opportunistic real estate investment news Ted Tsiakopoulos, CMHC’s Regional Economist for Ontario, shared recently at the Canadian Mortgage Brokers’ Association (CMBA) of Ontario annual conference.

Here are other main takeaways:

  • Strong 2017 economy helped ease imbalances
  • Sales and new home starts expected to slow
  • Prices to grow moderately
  • Eastern & Western Ontario will outperform Southern Ontario
  • Mortgage delinquencies remain at record lows – much lower than credit card or car loan debt

Continue reading “Ontario Housing Market: Increased Opportunity for Investors!”

Posted 2 Comments on RRSP, RESP, TFSA or Mortgage prepayment… Which offers the best bang for my buck? Money saving tips

RRSP, RESP, TFSA or Mortgage prepayment… Which offers the best bang for my buck?

Invest. Return on investment. Financial growth. Technology and business concept

Trying to decide what’s the best move can be difficult… and, I must admit, this isn’t an easy subject to tackle. There are so many opinions! But it’s important enough that I’m going to put my two cents into the discussion. (My final recommendations are listed at the bottom if you want to fast forward.)

First, let’s come to the understanding that we’re all different and have unique needs. You must first ask for professional advice in order to make up your own mind. Having said that, I think that, for me, this is actually a very easy decision. Continue reading “RRSP, RESP, TFSA or Mortgage prepayment… Which offers the best bang for my buck?”

Posted 1 Comment on I’m getting divorced. Should I keep the family home? Mortgage News

I’m getting divorced. Should I keep the family home?

Divorce Image, March 2018

You’ve heard the stats: 1 out of every 2 marriages fails. Actually, I think the number of failed marriages is even higher now. Wait, let me rephrase that. A marital split is not a failure. I think that’s old-world thinking. A marital split is usually a positive move for all parties involved – for the spouses who are no longer in love and the kids who don’t have to see an unhappy married couple.

Marital splits can be a very emotional and difficult time in one’s life – especially when there are kids involved. There’s always one parent who wants to keep the house because the kids grew up there or have friends there or it’s just more familiar to them.

Having worked on 8,000+ mortgage applications at this stage in my career, I’ve witnessed my share of separations and divorces. I’m going to share what I’ve seen – a financial and personal perspective on marital splits.

Continue reading “I’m getting divorced. Should I keep the family home?”

Posted 4 Comments on Yes, you can still buy a home in Canada… Keeping the dream alive Bank News

Yes, you can still buy a home in Canada… Keeping the dream alive

Homeownership Image, March 2018

Canada’s a nation of immigrants. It truly is the land of opportunity. Chances are, your parents, grandparents or great grandparents came here from another country.

There are many reasons why people left their homeland. Some left by choice to pursue a better life. Others had to leave for safety reasons. Whatever the reason, most of us have a common goal: A better life.

Homeownership has always been an important part of that dream. We want to own something. We want to plant roots. There’s a pile of statistics to support this claim. In my 28 years in the financial services industry, I can attest to this claim.

Continue reading “Yes, you can still buy a home in Canada… Keeping the dream alive”