I did a 3rd party app on RBC that where a bunch of contractor bid for your reno.

They quoted me $30-45K for kitchen cabinets, counter, sink, basic appliance

$20-30K for washroom, I asked a plumber from RS if this was true and he's like it's easily $20K to start after labour.

I think there is a bunch of people sitting on the sidelines with cash waiting to go right now, it's just that they see rates will drop more so they are waiting. Gics rates are cut in half already, so unless you put it back into equities, inflation is just gonna eat away at the interest, plus everyone got scared of the massive taxable gic gains last year. There must be enough money to pay the mtgs if there 2000 units sitting vacant.

Ask maniac's cousins, $10k done for you brother, or just hang out at some Mexican restaurants and ask:joy:

So ended up pulling the trigger on the offer. I believe I said earlier it was over assessed but it was bang on assessed. What I was thinking was it was over the price per sq/ft most of the places in Fairview have been going for. That being said most places are going less than assessed atm so I feel like it was a fair offer . Time will tell I suppose.

The end of the day what made us hesitate was our expectations when we listed of selling for a higher number vs the actual market. Strongly considered refinancing/heloc but feels a little too far outside my comfort zone. Question is now do I hold the remainder of the cash ? GIC ? Dump it on my primary residence mortgage? Vegas?

I was going to say earlier....... Buy a sportscar.......

US equities.

I'm surprised some of y'all don't hold equities lol

but I guess it's because the younger generation is poor and equity is the only thing we can buy!

BTC

The ship has sailed for the younger generation to make any money off real estate and even stocks. We can only hope that US equities keep performing like the past to grow any wealth.

I’m salty that I wasn’t born 5-10 years earlier. If you’re in your 40s and don’t have a sizable net worth you did something wrong. You could have bought any asset and made big gains, even collectibles and cars or randomly choose a tech stock to dump money into.

^hey now. If that was the case then everyone would be rich. Clearly not everyone is in Vancouver. I know tons of guys my age who are just squeaking by and even more boomers who’ve had all the advantages in life, live in squalor.

What’s the saying ? Past performance isn’t indicative of future performance ?

It’s not a matter of just being there at the right place and time. You also need to have time and money to take advantage of opportunities when they arise. If you don’t have either of those, these so called opportunities are moot.

Everyone who is “doing well” are often coasting on their parent’s money. Almost none of them came from the trash and was able to rise above it.

lack of education is the real killer for not investing wisely.

if i could go back 10 years and make even a few minor different investments i'd be way better off myself (not saying crystal ball and buying amazon type changes)

What blkgsr said, and definitely what Hobz said.

You need money to make money. If you had zero to start with it doesn't matter HOW well the market is. Most people are not going to have the risk tolerance to borrow and invest.

Man, totally.

After liquidating investments before the move back to Canada, I have nothing but cash sitting in my TFSA account, and it's doing nothing. Because I haven't had the time to do the research into when/what, a year has gone by without so much as putting it in GICs lol.

It is a balance, do you live like a nerd so you can get rich when you're too old to chase the hot pussy, or do you go all-in and live as hard and as fast as you can while you're young enough to not look like a nerd 40 year old trying to relive his youth?

Besides, all it would have taken was a lucky 100 bucks into BitCoin 15 years ago, just pure luck and you've be a multi-millionaire!

Being broke currently, at least I still don't have to work a 9-5 job, that alone makes being broke not feel so bad. Being broke but being able to afford to work for yourself just enough to survive and not have to lick the sack of your boss is sooooooooooooooo much better than getting paid a good salary and working a shit 9-5. Definitely helps that I'm not on the hook to pay for my kid since my baby momma's family is mad loaded. Dodged a bullet there!

Must be wild to have 6 figures of cash in your bank account, you could literally go anywhere and do anything. Too bad most people that rich are boring as day-old oatmeal!

The fuck do you do with all your time?!

The last 15 years was solid for equities. 2020-2025 was solid for the late 90's and 2000's kids.


I feel ya, if I was born in 1980-1990, I'd probably be whipping in a 911, big mcmansion in richmond, and copious amounts of hookers and blow.

That's true, I don't think most of us are average people though, we did pretty well even in our own time period.

I learned most of saving and investing from the internet in 2015, I don't know if I could say the same if I was 15-20 in the 2000's. I learned most things from the internet.

:lawl: you're so fucking white :lawl:

LOL. We have a handyman (white) who does the floors, painting, some plumbing. Anther person who does the cabinets and one more for the counter tops. We only need 2 appliances a fridge and stove and that's just plugged in by the handyman.

We redid a condo we have in Richmond. 2 electric fireplaces, new wall, fancy toilet, all new appliances including washer and dryer, flooring, paint, etc and that was 50K. We did not touch the tub just added a sliding door to it. Still need to do something with the deck.

Guys on the RBC app are going to charge you more because they probably pay to be on the app.

Refer to my signature, fellow East Van Trash! :fuckyea:

I know there's an age gap, but East Van Trash bags like me and Badhobz were at the beginning stages of the internet (and Revscene) so information was extremely limited at the time. Your generation had the advantage to learn about all this stuff. We had to go to a library (they still exist) and even then, financial literacy was not widely available.

I often reflect on my high school grad class. None of them have a McMansion and none of them drive around in a 911. A few of them are in jail or are dead though, so yeah. :ahwow: I wish I hadn't sold my 911 so I could say I have one today. Terrible life decisions. :okay:

Following up on the private banking thing - from an RBC rep on fees:

1) There's a monthly fee of $125/mo.
2) That's rebated by $75/mo if you have $1M in assets with them.
3) It's rebated the full amount, if you have $1M in assets, plus $2M in approved credit facilities with them.

So I guess to unlock free perks, you could do a HELOC, and just take a million dollars out! :lol

Damn, $125/month.

You can take us out of the hood, but you can't take the hood out of us.

right, and WHAT are the exact perks here that justify this?

To say you have it.

“Private banking” with RBC seems like a misnomer in itself.