I mean you can get tickets to any event if you wanna pay a mark-up which is what concierge does.

I still don't see what the advantages of a personal banker are

You need to tie up quite a bit of money to this one bank. Yes, you might be able to get a better rate vs normal Joe Schmoe, but often if you shop around, they have better promos and transfer-in bonuses. i don't play around with this sort of bullshit, but my wife does and she gets quite a heavy bonus for transferring in money from bank to bank

Same with the gics. She rates shops, and often they can give much better rates depending on how desperate they are for the business

so yeah, you can have a personal banker who might wave a bank draft fee, or able to not hold a cheque, but those so called "perks" are the same if you were to make a friend with the bank teller or even a normal account manager (I would know, I used to work for HSBC as a teller back when I was 18). i still don't see what the advantage of these personal bankers. Hell, even if they were to sell you some products it's in the interest of the bank, not you. They don't owe a fiduciary relationship to you.

What kinda boomer buys gics :troll: at like what now 3.3% a year? Also it's a bitch to move registered or equities cuz it's fucks with your buy and sell price. And you can't see the history anymore. Also there's usually fees to move.

They will show you a mint S14 and suck your dick. No homo.

The kind that doesn’t lose any money during this trump era of market volatility

So I had mentioned a while back about asking my Tennant to voluntarily increase the rent . She declined and we decided to list the place for sale. As anyone who had been following the market knows the condo market is in the tank and we have t seen much interest besides one lowball.

So fast forward to this week we have an offer but quite a bit less than we had originally listed . It’s more than assessed and probably considering the market it’s a fair price. However I’m not sure what we should be doing here. Trying to weigh the idea of keeping the condo/refinancing vs selling .

If we keep the condo we could pull the required cash out ( we have some projects etc to do in the main house) and hold the asset . This would be fairly easy as our current Tennant ( the one who was paying a low rent )has now given notice. So we should be able to carry the. Cost of the re finance etc once we get a new Tennant at market rates.

If we sell then we get less than expected/hoped when we listed the unit but have the cash in hand for the project and invest the balance of the cash in the market where we in theory grow the portfolio over time.

Couple of notes on the condo: it’s a smaller condo (sub 500sq/ft) w a little bit odd layout (bathroom accessed through the bedroom). It’s in a good area especially for rentals ( oak and broadway , 2 block from VGH). It’s about 18- 20 years old and no major assessments so always wondering when that show will drop if ever. Currently there is skytrain being built with a new station 1 block or so away when completed. The kitchen cabinets and floor are showing signs of age and will need to be addressed if we hold it for too
Much longer .No AC in building.


What would you guys be doing ? Basically we pull the cash required either way and either invest the remainder in the market/equities or hold the property for long term.

Anything I’m not considering here ?

If you have a smaller condo and it’s an odd layout, get rid of it. You already got more than assessment, you should take the money and run (run right into a new place since it’s a buyers market).

Sell low, buy low.

Sell high, buy high.

Either way don’t cash out and put it into stocks or something stupid, real estate is the only real solid way to make money in Canada. If the real estate market crashes, the country is fucked.

I don't think you will see much condo appreciation for the next few years, maybe $10-20k tops a year in appreciation. Is it worth the hassle to keep and rent out? Especially if it's a older unit. Limits how much growth there will be. Could be good cash flow.

Getting over assessment is pretty good now a days. But what will you do with cash. Cuz the market is way too volatile to all in right now. You have to DCA in. It may be good to refi and get the max credit out. Therefore you get cash flow from rent and have available cash when you need it. The leverage should get you more access to cash than just sell and cap your gains based on whatever equity you have now.

Nothing but green these days homie.

Until he changes it tomorrow with another insanity round of tariffs.

Under his tenure I guarantee we will see all time highs in US equities.

He isn’t stupid, even if people are broke if the market is doing well that’s a huge marker. Crypto and US equities are going to rip over the next few years.

another vote to sell.

Honda with the crystal ball

Nobody has a crystal ball but if you base the future on what has happened for the last 120 years he’s likely accurate.

As for rymack, post up a spreadsheet showing the numbers. Value, equity, taxes, maintenance, expenses, rental income, personal headaches.

How many stories is the building? How much would 7k in new cabinets and flooring bring income up? Are you able to add ac either window shaker or mini split?

Some simple things could give you a 20% return on your cash, increase the value and make your tenants happy.

Could you invest in yourself and double or triple your income?

rymack maybe offer your tenant money to move out. Depending on how below market the rent is it could be worth the money.

People who are private banking usually have multiple bank accounts and a variety of investments.

Sorry probably wasn’t super clear.

- Tennant is slated to move out end of May so I will be able to get a new Tennant at market rates probably for July ( mad a conscious decision to see if we could get some offers after the election so we gave it a month but the condo market hasn’t turned on)
- market rate is probably 2300. Maybe 2400? But another suite in the building advertising 2350. Unless I offer it furnished which can increase the rates quite a bit.
-cost of tax/strata/insurance just under 600/month. I won’t get into my equity etc but could comfortably pull out the cash required and have a small cushion . I could pull out more I suppose to invest .


Could I invest some cash on new cabinets , flooring , and a built in ac? Yes probably( if have to check but I assume the mini split might not work for the strata). I don’t know if the investment would increase the rent substantially enough because as mentioned it’s a smaller unit and I have to believe there is a ceiling here ( the exception being renting it furnished which is a whole other kettle of fish).

I’m more concerned at this point on downside risk of this particular unit of any sort of assessments or a further collapse of the condo resale market( though long term the condo collapse seems less of a issue) . all of this is in relation to investing the remainder of the cash in “the market” per se.

There are two costs associated with selling the condo ( realtor fees and capital gains ) which may argue for holding the property .

I would say start looking at refinancing a large heloc as rates seem to be bottoming out, either a 0.25% or 0.5% cut in early June

To install a mini split you need to hire a structural engineer to do an assessment. When we reno a one bedroom unit a bit bigger than yours it costs between 15 and 20k. that's for floors, cabinets, counter tops, appliances, paint and drapes.

Cap gains can be erased assuming you have rrsp room

RS stonk members will tell you to sell, and buy stonks

RS RE members will tell you to keep the investment

What feels right to you? Your already far ahead of the majority of the population, if you have an investment unit

Republican Presidents do worse with the economy than Democratic Presidents - economic growth and the stock market have always performed better with Dems. While it's possible (and maybe even likely as a one time event) that we'll hit all time highs every Republican President has presided over a recession and Jimmy Carter is the only Democrat that had the same fate so the end game of a Trump admin is, at best, a very temporary all time high, and more likely a recession. Trump and the Republicans also just got the first ever downgrade of America's credit rating.

https://theconversation.com/the-us-s...a-shows-246652
https://funds.cifinancial.com/en/doc...4955570_en.pdf
https://en.wikipedia.org/wiki/U.S._e...idential_party

thus you should park your money in safer harbors for now. I don't care if i don't make 10% return, im fine with 3-4% as long as there is minimal risk during this insane muppets era.

Hello, private banking.

Problem worh parking money is inflation eclipses the gains when things are shitty… but it is better than stuffing it under a mattress lol

Everyone being obsessed with their house and everythinig being "investments" is why things are so retarded in the first place.

But it must feel nice to sell a house you lived in and get a 6 figure pay day simply for owning a house and it skyrocketing in value, rather than when you move out of your rental and OWE money for cleaning fees, junk removal, or whatever.

if we're broadly saying RE will go up in the future then of course he's right, but you cant pinpoint the next few years with that much certainty. market moves up, but it's not a straight line.