Friday, 19 November 2021

Inheritance money, how to invest it in Red Deer?

 ๐ˆ๐ญ'๐ฌ ๐ง๐จ๐ญ ๐ฎ๐ง๐ก๐ž๐š๐ซ๐ ๐จ๐Ÿ for people in this generation to inherit money. If that happens, how should you spend it?

In many of the cases, young people are ill-prepared for the inheritance they come into, so they end up losing it.

Sometime ago, we interacted with a couple different young people who had just inherited $40,000. In one scenario, someone persuaded them to lend all their money for an unproven investment with no guarantee of any return, they made a grave mistake and sadly lost all.
In another scenario, Bryce had a financial discussion with the other party whose interest at that time was buying a new car. Bryce explained that instead of buying a car that will just depreciate, they could buy a house with a basement suite and a garage and rent them out and the house would pay for the car but they replied, "it just doesn't work like that, Bryce"!
But you see, it does actually work like that!
About that same period, Cole and Bryce bought a house for $245,000 and put down $12,500 as down payment. Then they rented it out for $1200 up and $800 down and that's not even including the garage. Their rental income less payment worked out that they would have cash flow of $363 a month (net profit).
Over the seven years since then, theyโ€™ve paid down their mortgage from $232,500 to $155,200. They would have had some improvements here or there but they have also paid down an average of $1100 a month over those seven years.
So, Instead of buying a $10,000-$15,000 car that would be worth close to nothing in 7 years, they bought a house that has appreciated by $80,000 and they have paid $77,300 off their mortgage PLUS they get cash flow of $30,492 over those 7 years, which is more than enough to buy a car.
In summary...
By investing $12,500 in a house, they would've had a total gain of $187,792 in seven years, while investing $10,000 in a car they would have close to zero to show for it in seven years and would probably be needing another new car.
This just goes to show the value of financial education for our kids and that you donโ€™t need a lot of money to get started.
Thanks so much for reading, feel free to leave a comment or like the post below.
#TeamKander
#SmartInvesting
#EducateOurKids
#Inheritance



Wednesday, 3 March 2021

Answers to real estate questions

 

CอŸaอŸnอŸ อŸyอŸoอŸuอŸ อŸbอŸuอŸyอŸ อŸmอŸuอŸlอŸtอŸiอŸpอŸlอŸeอŸ อŸhอŸoอŸuอŸsอŸeอŸsอŸ อŸwอŸiอŸtอŸhอŸ อŸaอŸ อŸ5อŸ%อŸ อŸdอŸoอŸwอŸnอŸ อŸpอŸaอŸyอŸmอŸeอŸnอŸtอŸ?อŸ อŸYอŸeอŸsอŸ!อŸ Anytime you move into a house you can get a CMHC mortgage and invest only 5% as a downpayment. Some people donโ€™t like paying CMHC fees, myself though, Iโ€™d rather get 4 houses with 5% down each, than 1 house with 20% down to avoid CHMC fees especially while interest rates are so low.

 

Recently, a past client called us wanting to sell their home because they wanted to downsize. Instead, we helped them refinance their home and rอŸeอŸdอŸuอŸcอŸeอŸ อŸtอŸhอŸeอŸiอŸrอŸ อŸmอŸoอŸnอŸtอŸhอŸlอŸyอŸ อŸpอŸaอŸyอŸmอŸeอŸnอŸtอŸ อŸbอŸyอŸ อŸ$อŸ1อŸ,อŸ0อŸ0อŸ0อŸ!อŸ We always consider ways to help you keep your real estate rather than selling it if itโ€™s in your best interest!

Bryce:

Iโ€™ve gotten a lot of ๐Ÿ๐ซ๐ž๐ž ๐ซ๐ž๐š๐ฅ ๐ž๐ฌ๐ญ๐š๐ญ๐ž. ๐ˆ ๐›๐จ๐ฎ๐ ๐ก๐ญ ๐ฆ๐ฒ ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐ก๐จ๐ฎ๐ฌ๐ž ๐ฐ๐ก๐ž๐ง ๐ˆ ๐ฐ๐š๐ฌ ๐Ÿ๐Ÿ‘ because someone passed away and we used the inheritance as a downpayment. Then, my dad helped me buy a house when I was 18. When my Dad passed away I bought 3 more houses.

 

๐Ÿ…ฝ๐Ÿ…ด๐Ÿ†‡๐Ÿ†ƒ, I partnered on a 7-unit apartment building, using none of my own money and I own 25% of it. Every month, my net worth goes up because my mortgages get paid down. Every month I get cashflow and every month my mortgage gets closer to being paid off completely. ๐ˆ ๐œ๐จ๐ฅ๐ฅ๐ž๐œ๐ญ ๐š๐›๐จ๐ฎ๐ญ $๐Ÿ๐ŸŽ,๐ŸŽ๐ŸŽ๐ŸŽ ๐ข๐ง ๐ซ๐ž๐ง๐ญ ๐ž๐ฏ๐ž๐ซ๐ฒ ๐ฆ๐จ๐ง๐ญ๐ก! Just imagine when the mortgages are paid off and consider what that rental income will be like with inflation calculated.

 

๐Œ๐ฒ ๐ฆ๐จ๐ฆ ๐š๐ฅ๐ฐ๐š๐ฒ๐ฌ ๐ฌ๐š๐ฒ๐ฌ โ€œ๐’๐จ๐ฆ๐ž ๐ ๐ข๐ซ๐ฅ๐ฌ ๐œ๐จ๐ฅ๐ฅ๐ž๐œ๐ญ ๐ฌ๐ก๐จ๐ž๐ฌ, ๐ˆ ๐œ๐จ๐ฅ๐ฅ๐ž๐œ๐ญ ๐ก๐จ๐ฎ๐ฌ๐ž๐ฌ. ๐๐ž๐จ๐ฉ๐ฅ๐ž ๐๐จ๐งโ€™๐ญ ๐ซ๐ž๐ง๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐ก๐จ๐ž๐ฌ.โ€

 

Penny owns an oceanfront condo in Hawaii with a 270-degree view of the ocean (she tries to get there a few months each year). She borrowed against her inheritance (a cash value life insurance policy) to purchase it. She paid $625,000 USD, itโ€™s now worth $800,000. She also purchased it when the dollar was almost on par! WOW!

 

๐ˆ ๐ฉ๐š๐ฒ ๐ฅ๐ข๐ญ๐ญ๐ฅ๐ž-๐ญ๐จ-๐ง๐จ ๐ญ๐š๐ฑ ๐›๐ž๐œ๐š๐ฎ๐ฌ๐ž ๐จ๐Ÿ ๐ซ๐ž๐ง๐ญ๐š๐ฅ๐ฌ! You can depreciate your rentals by about 3% a year, plus you can do a depreciation schedule on your appliances and depreciate those at about 12%. As the owner of rental property you get to write off your mortgage interest, taxes, insurance, utilities, repairs, etc on your rentals. On a $300,000 rental, youโ€™re getting a $9,000 depreciation to write off (3%) against your personal incomeโ€ฆ YOUR PERSONAL INCOME!

 

๐˜๐จ๐ฎ ๐ฐ๐จ๐งโ€™๐ญ ๐ฉ๐š๐ฒ ๐š๐ง๐ฒ ๐ญ๐š๐ฑ ๐จ๐ง ๐ฒ๐จ๐ฎ๐ซ ๐ซ๐ž๐ง๐ญ๐š๐ฅ ๐ข๐ง๐œ๐จ๐ฆ๐ž cash flow and often it carries over into your personal income, reducing the amount of taxes youโ€™ll pay.

 

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐›๐ž๐ญ๐ญ๐ž๐ซ ๐ญ๐ก๐š๐ง ๐‘๐‘๐’๐๐ฌ! Though super-funding your RRSPs is still a great idea! I know someone who borrows $10,000 on a line of credit each year right before year-end (to avoid paying unneeded taxes) and puts it into his RRSPs. He then takes the $2,000-3,000 he gets back in taxes because of the extra contributions and pays off the line of credit. He makes it a goal to pay off the line of credit before the end of the year, and repeats! Some years, when he first started, it took all year to pay off that line of credit but as time went on he was able to pay it off earlier! Now, after decades of doing it, heโ€™s got wealth! Proverbs 13:11 โ€œWealth gained hastily will dwindle (like GME stock), but whoever gathers little by little will increase it.โ€

๐—ช๐—ต๐—ฒ๐—ป ๐˜„๐—ฒ ๐˜๐—ฎ๐—น๐—ธ ๐—ฎ๐—ฏ๐—ผ๐˜‚๐˜ ๐—ฅ๐—ฒ๐—ฎ๐—น ๐—˜๐˜€๐˜๐—ฎ๐˜๐—ฒ, ๐—ถ๐˜โ€™๐˜€ ๐—ฏ๐—ฒ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐˜„๐—ฒ ๐—ฏ๐—ฒ๐—น๐—ถ๐—ฒ๐˜ƒ๐—ฒ ๐˜„๐—ฒ ๐—ฐ๐—ฎ๐—ป ๐—ต๐—ฒ๐—น๐—ฝ ๐˜†๐—ผ๐˜‚ ๐—ป๐—ฒ๐˜ ๐˜๐—ต๐—ฒ ๐—บ๐—ผ๐˜€๐˜ ๐—บ๐—ผ๐—ป๐—ฒ๐˜†, ๐—ด๐—ฒ๐˜ ๐—ถ๐˜ ๐—ฎ๐˜€ ๐—พ๐˜‚๐—ถ๐—ฐ๐—ธ๐—น๐˜† ๐—ฎ๐˜€ ๐—ฝ๐—ผ๐˜€๐˜€๐—ถ๐—ฏ๐—น๐—ฒ, ๐˜„๐—ถ๐˜๐—ต ๐˜๐—ต๐—ฒ ๐—ณ๐—ฒ๐˜„๐—ฒ๐˜€๐˜ ๐—ฝ๐—ฟ๐—ผ๐—ฏ๐—น๐—ฒ๐—บ๐˜€ ๐—ฝ๐—ผ๐˜€๐˜€๐—ถ๐—ฏ๐—น๐—ฒ, ๐˜„๐—ต๐—ถ๐—ฐ๐—ต ๐—ถ๐˜€ ๐˜„๐—ต๐—ฎ๐˜ ๐˜†๐—ผ๐˜‚ ๐˜„๐—ฎ๐—ป๐˜, ๐—ถ๐˜€๐—ปโ€™๐˜ ๐—ถ๐˜?



Bryce/Penny Kander

Realty Executives Alberta Elite

403-896-9592










Monday, 4 January 2021

Bitcoin Red Deer and real estate

 If Bitcoin got you started; let Real Estate take you home!

OK...you have made a bundle with bitcoin; now what? You could take the money you have made and use it for a down payment on a house. Letโ€™s say you are now leveraging a $200,000 house with $5000 down payment. If the property goes up in value even 10% you have made 4X your initial investment! You could also buy a suited property; rent out half and live for less. You can live in a house but you canโ€™t live in your bitcoin.


For free real estate investment education follow us at https://www.facebook.com/teamkander

#Bitcoin #TeamKanderInvesting #ToTheMoon #reddeer #reddeeralberta #reddeerrealestate #reddeerhomeshow #reddeerhomebuilder #reddeerhomes #reddeerhomesforsale #reddeerhunting #reddeerhomeshow2020 #centralalbertahomes #centralalbertarealestate #centralalberta #centralalbertaacreage #centralalbertaacreages #centralalbertaacreagesforsale #centralalbertahouseforsale #centralalbertarealtor #reddeercounty #reddeercountyrealestate #reddeercountyhomesforsale #Reddeerab #reddeeralbertacanada #reddeercommercialrealestate #reddeercommercial #reddeerindustrial #commercialrealestate #commercialrealestatebroker #commercialrealtor #commercialrealestateforsale

Thursday, 10 December 2020

Flip your own house in Red Deer.

 Yฬฒoฬฒuฬฒ ฬฒmฬฒaฬฒyฬฒ ฬฒnฬฒoฬฒtฬฒ ฬฒbฬฒeฬฒ ฬฒaฬฒwฬฒaฬฒrฬฒeฬฒ,ฬฒ but ๐ซ๐ข๐ ๐ก๐ญ ๐ง๐จ๐ฐ ๐ญ๐ก๐ž๐ซ๐ž ๐ข๐ฌ ๐š ๐ก๐จ๐ญ ๐ฆ๐š๐ซ๐ค๐ž๐ญ underway. If you have a home that just needs a little bit of tweaking and staging and dressing up, you could literally ๐Ÿ๐ฅ๐ข๐ฉ ๐ฒ๐จ๐ฎ๐ซ ๐จ๐ฐ๐ง ๐ก๐จ๐ฎ๐ฌ๐ž. Pull out your paintbrush, tidy up your rooms, enhance the curb appeal, and put your home on the market. The bฬฒeฬฒsฬฒtฬฒ ฬฒpฬฒaฬฒrฬฒtฬฒ ฬฒaฬฒbฬฒoฬฒuฬฒtฬฒ ฬฒiฬฒtฬฒ ฬฒiฬฒsฬฒ ฬฒtฬฒhฬฒaฬฒtฬฒ ฬฒiฬฒfฬฒ ฬฒiฬฒtฬฒโ€™ฬฒsฬฒ ฬฒyฬฒoฬฒuฬฒrฬฒ ฬฒoฬฒwฬฒnฬฒ ฬฒhฬฒoฬฒmฬฒeฬฒ ฬฒtฬฒhฬฒeฬฒnฬฒ ฬฒtฬฒhฬฒeฬฒrฬฒeฬฒ ฬฒiฬฒsฬฒ ฬฒ ฬฒ๐งฬฒ๐จฬฒ ฬฒ๐ญฬฒ๐šฬฒ๐ฑฬฒ ฬฒ๐จฬฒ๐งฬฒ ฬฒ๐ฒฬฒ๐จฬฒ๐ฎฬฒ๐ซฬฒ ฬฒ๐ฉฬฒ๐ซฬฒ๐จฬฒ๐Ÿฬฒ๐ขฬฒ๐ญฬฒ.ฬฒ Then you can buy another one and do the same thing.


Bryce/Penny Kander

Realty Executives Albera Elite

https://www.facebook.com/teamkander



Friday, 4 December 2020

Air Bnb publically traded stock Red Deer

 

๐—”๐—ถ๐—ฟ๐—•๐—ป๐—• will be a publicly traded ๐˜€๐˜๐—ผ๐—ฐ๐—ธ ๐—ฎ๐˜€ ๐—ผ๐—ณ ๐——๐—ฒ๐—ฐ๐—ฒ๐—บ๐—ฏ๐—ฒ๐—ฟ ๐Ÿญ๐Ÿฌ๐˜๐—ต! Their stocks will be selling at $44-$50 per share.
We love AirBnB!

As a ๐’”๐’–๐’‘๐’†๐’“ ๐’‰๐’๐’”๐’• Airbnb has offered to sell shares to its super host status members. They are setting aside some shares so that we can get in on the Initial Public Offering (IPO). Thatโ€™s pretty great of them!
Someone once told me, โ€œ๐—ฏ๐˜‚๐˜† ๐˜€๐˜๐—ผ๐—ฐ๐—ธ ๐—ถ๐—ป ๐—ฐ๐—ผ๐—บ๐—ฝ๐—ฎ๐—ป๐—ถ๐—ฒ๐˜€ ๐˜†๐—ผ๐˜‚ ๐˜‚๐˜€๐—ฒโ€. I also heard an interesting thought from a lawyer in town. He thinks the reason they are going public is to sell the company since there are very few private parties big enough to purchase the whole company. It will be exciting to watch this unfold and see what transpires. Regardless, this is purported to be one of the hottest stock offerings of the year!
 
Bryce/Penny Kander
Realty Executives Alberta Elite
403-896-7331
https://www.facebook.com/teamkander

#reddeer #reddeeralberta #reddeerrealestate #reddeerhomeshow #reddeerhomebuilder #reddeerhomes #reddeerhomesforsale #reddeerhunting #reddeerhomeshow2020 #centralalbertahomes #centralalbertarealestate #centralalberta #centralalbertaacreage #centralalbertaacreages #centralalbertaacreagesforsale #centralalbertahouseforsale #centralalbertarealtor #reddeercounty #reddeercountyrealestate #reddeercountyhomesforsale
#Reddeerab #reddeeralbertacanada #reddeercommercialrealestate #reddeercommercial #reddeerindustrial 
 

Friday, 13 November 2020

Airbnb advanced course Red Deer & Sylvan Lake

In this hands-on approx 2 hour session we will endeavour to:
* Begin to actually set up your live AirBnB listing online
* Show you how to maneuver through the site and its many sub-areas and different vital information areas to fill in. 
* Insider hints to make your site work at an optimum level for you
* Make a list of further additions to make to the site and what info to include so that guests know what to expect and arenโ€™t constantly asking the same questions
* Talk about different attributes of your rental to highlight to draw in your audience and get your listing noticed. 
* Discuss what needs to be done to your property to make it worthy of the coveted 5-star reviews including assessing needed practical home inventory
* Discuss what steps to take to achieve superhost and other status levels and what that means
* This session will also include a messaging or phone follow up once you have completed your AirBnB listing with feedback communication of what tweaks and edits may improve the site to get your listing the most traffic possible 

Bryce/Penny Kander
Realty Executives Alberta Elite
403-896-9592


 

Airbnb course Red Deer & Sylvan Lake

 Are you interested in doing a rental on Airbnb?


Donโ€™t know where to start? 

In this hour we will cover as many of the following as possible:

* Talk about pros and cons

* Talk about what kind of space you want to rent

* Discuss time investment of setting up a great listing site as well as 

* Decide what various nightly fees your property is worth based on comparable places in your market area and other variables and realistic expectations rental percentages when starting up

* Discuss the additional fees you need to charge and how AirBnB deals with and charges your guest

* How you get paid

* Give you an outline of what it takes to get started and different things to consider.


Bryce/Penny Kander
Realty Executives Alberta Elite 
403-896-9592