Badhobz adaptation:
Chapter 1: marry a rich vagina
Chapter 2: never stop calling rich vagina a midget
The end.

Best seller right there.

IÂ’m interested

Focus on cashflow, whether positive or negative, but think them as a cashflow. Your mortgage payment is a cashflow. Your rent is a cashflow. Your potential rent from a second suite is a cashflow.

One of the best decision I've ever done was I got an investment property before my house.

The investment provided more than enough cashflow to cover my rent payment. And not just that, with the rent, I was able to re-finance that investment property into cash to finance my other business ventures.

Now, coming back to your case, my suggestion is the follow... we are in a RE downturn. And it's a great time to be a buyer as you hold all the bargaining chips.

Now, what I'm proposing is going to suck in the short term, not gonna lie, but in the long term, it would make a lot of sense.

Check in the city that you are in to see if there's any multi-family residential buildings for sale. Or maybe one of those old timers where it's legal non-comforming houses where a house split into multiple units.

I'll give an example here, not saying that this is what you should buy, but to illustrate what I'm referring:

https://www.zealty.ca/mls-R3045949/2...-Vancouver-BC/

This is a 3.3M "house" in Vancouver west side. Which 3.3M is kinda the norm as far as house goes in the area. But this is split into 4 units.

Assuming you were looking for a house in this price range in the area, why not do something like this? 4-2br units. You live in one, while renting out the remainder. At the rent that west side is asking, the 3 remaining units can easily bring in 8-9k a month in rental income. Thus, you actual out cashflow is only 3-4k assuming normal interest rate and downpayment and if taking the amount of principal paid, the actual cashflow paid is near 0.

You could structure it into a business, where you get to write off expenses such as maintenance, property taxes... etc.

Or if you want to tap into the CRE sector, something like this

https://www.zealty.ca/mls-C8073314/3...-Vancouver-BC/

You've got residential units above with commercial units below. The good thing about CRE vs. RE is that everything is in the contract. So there's no RTB rules to care about and it's a lot more straightforward.

The idea is the same as prior example. Where you live in one of the units and renting out the rest.

Yes, life quality going to suck, but the idea is this... once you paid it off, not only you've got 4 walls and the roof above your head, but something that would continuously generate income for you.

When we compare a house vs. a unit like these 2, after 25yrs of mortgage, what you end up with are vastly different. A house is a house... it's your shelter and you might rent it out somehow, but the income is nowhere near the split units case. By then, assuming a relatively conservative 4-5% cap, a 3m unit would yield roughly 120-150k and I'd be very impressed if you can find a 3m house that rents for 10k a month.

If you are just starting to get into the RE market and don't need to care so much yet about life quality, this is something that I'd personally look into. Because the idea is not to stay in these units forever. But rather, once your income stabilizes or debt level has come down, you can use the income of these units to either rent a much nicer house or just pay the mortgage on another.

Fuck rich people, they’re all greedy. I’m gonna stay the status quo, blame the government if shit hits the bed

I would also be interested in hehe thoughts. I don't have fuck you money yet.

I thought commercial is pretty dead, as besides BBT stores, no small businesses are really opening. And from what I've heard commercial lending is really hard to get if it's your first place and you don't have existing commercial property or business to show income from.

Hehe can you explain a commercial Warehouse rent in Canada? For example $15/sq foot and then $5NNN rent. The warehouse is 1500sq ft. So the renter would pay $20*1500 annually and IÂ’m only responsible for damage to the building? They cover strata, tax etc?

NNN or triple net means that the tenant is responsible for 3 things, property taxes, building insurance and building maintenance. In a lease agreement, you would usually have terms covering these 3 costs, among many things and what goes into each of the 3 costs. But the industry standard is NNN as it gives a clear idea on how much rent is the tenant actually paying since once you take those 3 items out, there's really not much a landlord needs to pay. But it can vary what's included. For example, maintenance can be everything or just anything non-structural.

In regards on x amount per sqft, it's usually a yearly figure. So, if it's 1500sqft warehouse and the we (CRE ppl) say that it's $15/sqft. The rent (yearly) would be 15*1500=22500. In your particular case, that $5NNN is ther additional cost to cover for the 3 things I said before. And that's 5*1500 per year. Some might do it in monthly basis figure, but when you are dealing with CRE people, whether it's your realtor or lawyer, they usually speak in yearly figures divided by the square footage.

Which brings an important thing on CRE, never make assumptions. Everything needs to be on paper.

can you make the title,

"RICH SUGAR DADDY, POOR SUGAR DADDY"

I'd rather you do a video than a book as I imagine it'd look a lot this:

https://blogger.googleusercontent.co...vu_yacht_4.jpg

"My daddy says"

LMAOOOOOOO :lol

I was more into "How to be a man". :lawl:

As I pointed out in the previous post, I'd like to think everything as a cashflow. This way, you have a clear vision on the actual cost, whether it's financial or opportunity, on everything.

RRSP/RESP/TFSA are great vehicles to shelter certain portion of your money from the taxmen. But ultimately, how much can you grow them?

One of the best financial lesson I have ever had was "invest, don't speculate".

I don't invest on something because I foresee it's going to increase in price. That's speculation. Instead, I focus on eliminating every possible "wish", or things I can't control in a venture and let the result, which is increase in value, be the ultimate outcome.

In RE, a lot of people speculate. You might get lucky as we've had in the last decade or two, but what do you do when the downturn hits? Just keep on holding and wish the market would eventually turn around? That's not something you have control over. Therefore, that's speculation. What you do have contro over is the rent you charge, the amount of money you put into to make it nice... etc.

And when you see everything as cashflow, it makes very easy to invest in things as you have a lot of control over things.

Supplementing Hehe's post, you cannot allow sunk cost and opportunity cost influence your decision.

Once you decide to treat this as a cash flow, you have to know your numbers and stick to it.

The moment you have any emotions influence your decision making, or allow opportunity costs and sunk costs change how you feel, you are likely on your way to financial ruin. You have to be very committed and disciplined on this.

Kids want ice cream? No. Fuck that shit.
Wife wants a vacation? No. A divorce might be cheaper.
Want our dick sucked by a group of hot blondes in a Kia Carnival? Dream on.

Before we go into CRE, we need to first understand how is the value of a commercial unit derived. It’s not exactly like the RE where you take comps of nearby units and make an educated guess. It does have some effect, but that’s not how it works.

The way CRE is priced, in the eyes of banks is one thing: cap rate. If the market acceptable cap rate for a retail unit is 5%, and a unit is making 50k a year, the value of such unit is 1 million. Since the equation is x*5%=50k, thus x is 1m. This it’s crucial on what to come later as there are a lot of things and strategies you can work around this model.

build some tiltups with no middle columns

badminton and pickleball people are so horny with that shit

Leave david kiyosaki alone

Go on biggerpockets forum, start reading

in all seriousness, im sure any financial advice given by HEHE is probably valuable.

Better than financial advice from say.... me... whose only financial goal is to fuck over costco with returns and then reinvest said savings into Hermes trash.


GREETINGS FRIEND! do you wanna be as happy as me!?

Just a heads up. The rental market is softening. I would not make an offer based on current rent rates. Seeing more apartment buildings for sale. Made an offer on one in feb and it was rejected. Just got an email they are taking offers again.

^^ this is what I feel too, I think the so called new immigrants are tapping out too. They can't afford the rent prices. And we're not letting enough rich enough people in. Also you have to deal with bs tenancy rules. So definitely rental isn't as good as what it used to be. Let alone you factoring in extra property tax, higher insurance cost and capital gains when you sell. At current % rates it still doesn't make sense as an investment.

Dedication page: "DLLMGCH Hehe."

Ah yes, anyone on RS also looking at buying a 10 or 40 plex, or is it just me and Manic?


"Can you please send in your offer again, we need to sell now"

"Ok my offer is 50% of my original offer"

For those of you in Richmond and aware of the recent ruling of the Cowichan land ownership, are you folks aware of this?

https://x.com/tablesalt13/status/198...304586452?s=46

Summary (as per X post)
"Canadian man who has owned Richmond, BC home since 1975

has been told by his mortgage lender that they WONT RENEW HIS MORTGAGE

because the BC Supreme Court has given the TITLE OF THE LAND the Cowichan Native Tribe"

Good thing he has owned the home since 1975 and doesnt have a mortgage

Fuck you wobobobbobo chugs

If you dare try this shit with me I’ll give you blankets laced with smallpox. Wait a minute they probably got immunity now…. Illl give you a shit load of garbage fent !!!