Food for thought: when you’re looking for a home, garages are a great investment!
#TeamKanderIdeas
#ILoveGarages
#InvestmentPerspectives
Wednesday 5 August 2020
Can I buy just a garage in Red Deer?
I often say, “I love houses but I love garages more”. We were talking with friends from London and they mentioned that garages, where they live, can cost up to £500,000 which is about $864,000 CND. Out of curiosity, I googled “cost of garages” and this one is for sale currently at £750,000. This is for a tandem double garage which is almost $1.3 million. I think I’m on the right track... I should buy more garages.
Food for thought: when you’re looking for a home, garages are a great investment!
#TeamKanderIdeas
#ILoveGarages
#InvestmentPerspectives
Food for thought: when you’re looking for a home, garages are a great investment!
#TeamKanderIdeas
#ILoveGarages
#InvestmentPerspectives
Capital gains versus Cash flow Red Deer
“I learned the difference between cash flow investing and capital gains investing from a herd of cows.
When I was 16 years old, rich dad took his son and me to visit a cattle ranch. The ranch was a beautiful place to visit.
On this visit to the ranch, we happened to see cowboys herding cattle from the feed yard to the slaughterhouse. Although rich dad took us away before we could see any cattle being slaughtered, we knew what was going to happen… and so did the cattle. It was an experience I will never forget.
A few months later, rich dad took us to a dairy farm. Early in the morning, we saw the farmer herding his cows into the barn for milking. These cattle behaved very differently.
The financial lesson rich dad wanted us to learn was that, while both the cattle rancher and the dairy farmer count their cattle as assets, they treat their assets differently, and they operate via different business models.
The visits to the ranch and the farm were to emphasize the very important difference between two investing strategies:
Capital gains versus Cash flow
Simply put, a cattle rancher can be compared to a person who invests for capital gains. He has to keep finding and raising new cows. It's non-stop.
A dairy farmer is more like an investor who invests for cash flow. He only needs to maintain his cows rather. It’s much easier work.
One of the reasons so many people lose so much money investing, or think that investing is risky, is because they invest like ranchers. They invest to slaughter rather than to milk.
I invest to milk.
Milk makes ice cream!”
By Robert Kawasaki
When I was 16 years old, rich dad took his son and me to visit a cattle ranch. The ranch was a beautiful place to visit.
On this visit to the ranch, we happened to see cowboys herding cattle from the feed yard to the slaughterhouse. Although rich dad took us away before we could see any cattle being slaughtered, we knew what was going to happen… and so did the cattle. It was an experience I will never forget.
A few months later, rich dad took us to a dairy farm. Early in the morning, we saw the farmer herding his cows into the barn for milking. These cattle behaved very differently.
The financial lesson rich dad wanted us to learn was that, while both the cattle rancher and the dairy farmer count their cattle as assets, they treat their assets differently, and they operate via different business models.
The visits to the ranch and the farm were to emphasize the very important difference between two investing strategies:
Capital gains versus Cash flow
Simply put, a cattle rancher can be compared to a person who invests for capital gains. He has to keep finding and raising new cows. It's non-stop.
A dairy farmer is more like an investor who invests for cash flow. He only needs to maintain his cows rather. It’s much easier work.
One of the reasons so many people lose so much money investing, or think that investing is risky, is because they invest like ranchers. They invest to slaughter rather than to milk.
I invest to milk.
Milk makes ice cream!”
By Robert Kawasaki
Red Deer money for house
When house shopping, many people think the hardest part of getting a home is finding it. Actually, the most difficult part is finding the money to buy it.
Right now, the banks are being very conservative in their lending policies so you may have to go to two or three mortgage brokers (yes mortgage brokers not just banks) to find financing. You could have to dig, and then dig some more, looking for money in the ocean of possibilities. Sometimes, you may have to put more money as a down payment than you thought you would have to. Sometimes, you may have to pay off some extra debt so that you can afford the home you want. You may have to buy a home with a suite in it so that you can afford to have a nicer home with income generated from the basement.
It is not easy to pry the money out of the bank's hands; you have to be determined! If you get turned down once or twice, it’s not a sign; just a sign of the times. You have to persevere because only the strong and tenacious will be able to succeed in getting financing for a home.
#ChasingTheMoney
#Tenacity
#RomeWasntBuiltInADay
#HarderThanYouThink
#TeamKanderHelps
Right now, the banks are being very conservative in their lending policies so you may have to go to two or three mortgage brokers (yes mortgage brokers not just banks) to find financing. You could have to dig, and then dig some more, looking for money in the ocean of possibilities. Sometimes, you may have to put more money as a down payment than you thought you would have to. Sometimes, you may have to pay off some extra debt so that you can afford the home you want. You may have to buy a home with a suite in it so that you can afford to have a nicer home with income generated from the basement.
It is not easy to pry the money out of the bank's hands; you have to be determined! If you get turned down once or twice, it’s not a sign; just a sign of the times. You have to persevere because only the strong and tenacious will be able to succeed in getting financing for a home.
#ChasingTheMoney
#Tenacity
#RomeWasntBuiltInADay
#HarderThanYouThink
#TeamKanderHelps
Red Deer real estate deals how do I know if I am getting a good deal?
When people are buying houses—especially lately— they seem to think that as long as they get the house for a lot less than it’s listed at, then that’s a good deal. This is not necessarily true!
“You can buy something that’s worth it or you can negotiate down something that’s not” —Penny Kander
What I mean by this is: if a home is well priced, then it may sell for over list price and still be a good deal.
Inversely, a home could sell for $50,000 less than it’s listed for and still not be a good deal (as in a good price for that home, in this market).
So when you’re looking at homes, you really need an expert who can find the information as to what the property is worth, in order to establish whether the property is a good investment, and therefore in fact “a good deal”.
#TeamKanderExpertAdvice
#WhatIsAGoodDeal
#InsideScoop
#DealOfTheWeek
“You can buy something that’s worth it or you can negotiate down something that’s not” —Penny Kander
What I mean by this is: if a home is well priced, then it may sell for over list price and still be a good deal.
Inversely, a home could sell for $50,000 less than it’s listed for and still not be a good deal (as in a good price for that home, in this market).
So when you’re looking at homes, you really need an expert who can find the information as to what the property is worth, in order to establish whether the property is a good investment, and therefore in fact “a good deal”.
#TeamKanderExpertAdvice
#WhatIsAGoodDeal
#InsideScoop
#DealOfTheWeek
Can I buy a house without a Realtor in Red Deer?
Previously, we met a new client and showed him a couple of homes. When we called to follow up, he said that he found a private sale and had snapped it up. “Oh, Ok. Where is your new property?” He went on to describe the location.
(he was from out of town and was not familiar with areas in Red Deer)
Then he added that the home had an illegal suite
Now, a few years later, he wants to sell the property but cannot because:
1. He will lose money.
2. The house is located in an area that is difficult to sell.
3. Illegal suites aren’t as easy to qualify for as homes with legal suites.
4. The suite could be shut down and he could be fined if discovered.
Don’t go shopping without us! When you’re purchasing a home, we are a free service for you. NOT hiring an experienced Realtor could cost you more than you know!
#TeamKanderHelps
#NewHomeShopping
#InvestmentAdvice
#HireTheBest
#FreeEducation
(he was from out of town and was not familiar with areas in Red Deer)Then he added that the home had an illegal suite
Now, a few years later, he wants to sell the property but cannot because:
1. He will lose money.
2. The house is located in an area that is difficult to sell.
3. Illegal suites aren’t as easy to qualify for as homes with legal suites.
4. The suite could be shut down and he could be fined if discovered.
Don’t go shopping without us! When you’re purchasing a home, we are a free service for you. NOT hiring an experienced Realtor could cost you more than you know!
#TeamKanderHelps
#NewHomeShopping
#InvestmentAdvice
#HireTheBest
#FreeEducation
Subscribe to:
Posts (Atom)