Also depends on the areas as well, you have to know the area b4 you buy, thats where the real state guy should come into effect. There is also some real expensive areas specially in Toronto, but nowadays everyone is moving around Toronto since its cheaper to own a home. For instance i bought a detached 2 years ago in Hamilton for $219,000, now its worth $279,000, i rent out the lower part of the house, which pays s big chunk of the mortgage, allowing me to make faster payments , thus payin less interest...now this same home in Missiisauga is worth about $379,000, so area is important..
The best thing to do if you know peeps that are in the construction and home renovation business that can help you out or give you cheap labour, then go ahead and buy a home that needs renovations, that way you can fix it up really nice and then you cna resell it for a big profit, do this 2 times a year, and you got yourself a good business going. Also as they mentioned b4, renting out half the house is the best thing to do, or renting the wholse house since someone else will pay your mortgage.. as for mortgage penalties for selling early, they charge you like 2 1/2 months of interests, but if you are thinkin about buyin and selling , then i would suggest gettin an open mortgage, which there is no penalty and you can pull out at any time...
Wonder Woman wrote: God You seem to know alot about this Do you think it would be a good Invst. what else do you think I should know? Do you think it's better to buy new or old house ? thanks for your help .
Actually Im full of ****....I just know from past experiences....
In my Humble Opinion a house is the Best Investment you can do .because you won't loose money ...
If you are going to rent....get a Lawyer....
The market is sooo crazy....look this....lets say you own a house a Semi...you paid 185K if you try to sell it you can get easy 220K....But if you see the same house in another place and Brand new.... u can find it for 200k....crazy ! Shop around before to commit....
Wonder Woman wrote: I have a friend who ask me if I was Interesting in buy a new house and put it for sale . I was just wondering if this is a good investment . I know they charge you penalty for that mortgage . Does anybody know where I can get more Information on this ,since I will be investing a lot of Money .
Yes they do ..the fee is variable according with your bank.
then you have to make it look nice...(repaint, decorate, check the state of furness, ac and heating) i think you should talk to a real state agent or someone involved in the sytem to get an estimate.
I have a friend who ask me if I was Interesting in buy a new house and put it for sale . I was just wondering if this is a good investment . I know they charge you penalty for that mortgage . Does anybody know where I can get more Information on this ,since I will be investing a lot of Money .
If gardening ia a hobby of your's, I'd suggest a small "grow op" I wouldn't really know where to start or how to set it up, but maybe some of the foro members could guide you in the right direction (cough* deaveed cough*)
sorry man, i just know how to get rid of them...a little bit at a time...
With the money you earn renting the upper level you can make Bi-Weekly Mortgage payments and you will save A LOT on interest....and you can be a Mortgage FREE home owner really fast....
LaDyBuG wrote: @ god: How does real estate give you a fast return? You mean buy and sell immediately?
@ caliche: those 2 are good ideas in this country and I actually know people that have saved up to buy the snow plows and gardening equipment.....but it's not for me......unless I do the admin work.....
I know it's hard sharing your get rich quick schemes....so THANK YOU for whatever info is posted.
@ Dogo: pls explain more on "gardening"......how do you invest there?
I meant "fast" and better return....if you buy twice on a year you can easy put in your pocket 100K...or you can rent out...
Let's say you buy a house ..... you move to the basement ..rent upstairs.....They will pay your mortgage .....
Or a second house split it....rent basement and upper floor....waaaayy better..
@ god: How does real estate give you a fast return? You mean buy and sell immediately?
@ caliche: those 2 are good ideas in this country and I actually know people that have saved up to buy the snow plows and gardening equipment.....but it's not for me......unless I do the admin work.....
I know it's hard sharing your get rich quick schemes....so THANK YOU for whatever info is posted.
@ Dogo: pls explain more on "gardening"......how do you invest there?
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"To be a good Promoter you must have the heart of a Gambler and the mind of a Computer"
If gardening ia a hobby of your's, I'd suggest a small "grow op" I wouldn't really know where to start or how to set it up, but maybe some of the foro members could guide you in the right direction (cough* deaveed cough*)
There's an English movie called Saving Grace that'll give you really good inside info on how to start the kind of business that Dogo and Caliche suggested. If it doesn't, at least it's extremely entertaining and you'll laugh your ass off.
Snow plowing... Please explain... another slow morning.
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Dios nos conceda SERENIDAD para aceptar las cosas que no podemos cambiar, VALOR para cambiar las que podemos, y SABIDURIA para conocer la diferencia.
Real state baby.....if you want to get a "fast" return Real state..Not even GIC's are good anymore....and for the long run RRSP's..... because they are not good for short term taxes can get ya .....
If gardening ia a hobby of your's, I'd suggest a small "grow op"
I wouldn't really know where to start or how to set it up, but maybe some of the foro members could guide you in the right direction (cough* deaveed cough*)
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The opinions expressed by this poster should always be considered offensive to Guadalupipi.
What is a good Investment? (besides Real Estate) Can anyone post easy to read info on RRSP....etc I'm looking for ideas on HOT TO MAKE YOUR MONEY WORK FOR YOU.....LOL....
If you don't have an RRSP, I'd recommend you get one ASAP. I don't know where to find the info, but I think it's a great idea to start young. You don't even have to contribute a huge amount (I started with 50 bucks a few years ago), and it's a great tax break.
As for investing, are you looking for long term or a fast turnaround? I try to play it safe (not that I have any money to invest), but I would love to see if others here invest in other things. Come on, people, share your get-rich-quick schemes...
Oh, and LadyBug, I'm also trying to learn how to play poker, so that I can get some quick cash to invest in something else...
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Dios nos conceda SERENIDAD para aceptar las cosas que no podemos cambiar, VALOR para cambiar las que podemos, y SABIDURIA para conocer la diferencia.
Please explain... another slow morning.
