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11-21-2020, 06:03 PM
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#16801 | | Where's my RS Christmas Lobster?!
Join Date: Jan 2002 Location: Vancouver
Posts: 803
Thanked 481 Times in 133 Posts
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Originally Posted by Matsuda  I had to evict a nightmare tenant. It was a pain in the ass. Ever since then, I hired a company to manage the place so I wouldn't have to get calls at 2am from strata asking me to deal with the tenant. It's been good for the past few years now | What kind of stuff was the tenant doing?
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11-21-2020, 06:04 PM
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#16802 | | It's like going crazy when you're already nuts
Join Date: Aug 2005
Posts: 5,827
Thanked 2,904 Times in 751 Posts
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If you overpaid for a property from the get go however it'll take a lot longer to break even or turn a profit. I've seen some recent sales taking $50-100k losses compared to when they bought in 2016/2017 not accounting for commissions.
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11-21-2020, 11:29 PM
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#16803 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
Posts: 7,343
Thanked 2,346 Times in 973 Posts
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Originally Posted by Y2K_o__o 2 bedroom are still mid 700K.. What an average family can afford to rent is roughly $2200.....
How can landlord breakeven with mortgage, strata, insurance, property tax...? especially these concrete strata is like $400 a month..? | I ask this question to my realtor buddy a lot.. he just says "there are a lot of rich people in Van, what makes you think he needs to break even".
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11-22-2020, 01:09 PM
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#16804 | | Rs has made me the man i am today!
Join Date: Dec 2003 Location: Cnd
Posts: 3,075
Thanked 296 Times in 70 Posts
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What's everyone's mortgage rates? If anyone's willing to share, lowest rate.
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[O.o]....O'Rly?
/)__)
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11-22-2020, 01:18 PM
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#16805 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,487
Thanked 14,365 Times in 5,658 Posts
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Been hearing sub 2% from most places. 1.9x, 1.89 etc
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Dank memes cant melt steel beams
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11-22-2020, 01:19 PM
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#16806 | | i like gifs
Join Date: Dec 2001 Location: imgur
Posts: 27,179
Thanked 7,785 Times in 2,695 Posts
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Originally Posted by Doubl3_H What's everyone's mortgage rates? If anyone's willing to share, lowest rate. | 1.68% 5 year fixed through our mortgage broker.
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11-22-2020, 01:23 PM
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#16807 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,487
Thanked 14,365 Times in 5,658 Posts
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Damn eh.. might have to fast track my renewal..
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Dank memes cant melt steel beams
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11-22-2020, 02:04 PM
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#16808 | | I contribute to threads in the offtopic forum
Join Date: Mar 2011 Location: Vancouver
Posts: 2,519
Thanked 2,171 Times in 961 Posts
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1.71% 5 year variable with TD. Just renewed last month. Broker could only get me 1.8% so just renewed with my existing bank.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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11-22-2020, 02:17 PM
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#16809 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
Posts: 16,274
Thanked 8,926 Times in 3,878 Posts
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Damn that's low, I'm not up for another 19 months
__________________ 1991 Toyota Celica GTFour RC // 2007 Toyota Rav4 V6 // 2000 Jeep Grand Cherokee
1992 Toyota Celica GT-S ["sold"] \\ 2007 Jeep Grand Cherokee CRD [sold] \\ 2000 Jeep Cherokee [sold] \\ 1997 Honda Prelude [sold] \\ 1992 Jeep YJ [sold/crashed] \\ 1987 Mazda RX-7 [sold] \\ 1987 Toyota Celica GT-S [crushed] Quote:
Originally Posted by maksimizer half those dudes are hotter than ,my GF. | Quote:
Originally Posted by RevYouUp reading this thread is like waiting for goku to charge up a spirit bomb in dragon ball z | Quote:
Originally Posted by Good_KarMa OH thank god. I thought u had sex with my wife. :cry: | | |
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11-22-2020, 02:24 PM
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#16810 | | Rs has made me the man i am today!
Join Date: Mar 2006 Location: Vancouver
Posts: 3,368
Thanked 2,225 Times in 1,027 Posts
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1.7% with TD 5 year variable. I think it's going to drop again and wanted it follow the rate.
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11-22-2020, 02:53 PM
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#16811 | | Rs has made me the man i am today!
Join Date: Dec 2003 Location: Cnd
Posts: 3,075
Thanked 296 Times in 70 Posts
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Decent, looking at 1.71 with coast.
Now fixed or variable?
__________________
,___,
[O.o]....O'Rly?
/)__)
-"--"-
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11-22-2020, 05:09 PM
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#16812 | | 14 dolla balla aint got nothing on me!
Join Date: Nov 2006 Location: Vancouver
Posts: 635
Thanked 71 Times in 40 Posts
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Originally Posted by Doubl3_H What's everyone's mortgage rates? If anyone's willing to share, lowest rate. | Just renewed mine with HSBC 5-year variable @ 1.79%
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11-22-2020, 05:41 PM
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#16813 | | Need my Daily Fix of RS
Join Date: Oct 2018 Location: Vancouver
Posts: 277
Thanked 312 Times in 117 Posts
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We recently locked down and placed the initial down payment for a pre-sale townhouse that will be completed by late 2022 (probably early 2023 with delays).
Is there any way to lock in a mortgage now so that we can take advantage of the <1.9% rates? Or do we have to wait until 120 days before completion date?
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11-22-2020, 06:15 PM
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#16814 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,128
Thanked 830 Times in 408 Posts
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I was trying to figure out if it made sense to refinance at today's lower rates. We are currently locked in at 2.64 with 24 months to go. Doesn't seem to make sense once you add in the penalty.
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11-22-2020, 06:24 PM
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#16815 | | RS has made me the bitter person i am today!
Join Date: Dec 2002 Location: YVR/TPE
Posts: 4,603
Thanked 2,752 Times in 1,182 Posts
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Originally Posted by 6793026 I ask this question to my realtor buddy a lot.. he just says "there are a lot of rich people in Van, what makes you think he needs to break even". | You'd be sorely mistaken if you think the riches can just kiss their money goodbye as it were nothing.
Up until now, they didn't care about the rent/cost because the return between the purchase vs selling a few years down would more often than not cover any of those expenses.
Even for Chinese buyers who just wanted a way to get money out of China and store it somewhat have a limit on how much they are willing to lose to get that money out. Because there are other alternatives without having to lose that much.
IMO, in the short term, the condo market is done. Many overpriced projects near completion are selling at loss or near it, sometimes beyond what they paid in deposit because those buyers can't afford to close.
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Nothing for now
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11-22-2020, 06:31 PM
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#16816 | | My dinner reheated before my turbo spooled
Join Date: Jan 2008 Location: Vancouver
Posts: 1,738
Thanked 939 Times in 308 Posts
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Originally Posted by Doubl3_H What's everyone's mortgage rates? If anyone's willing to share, lowest rate. | 1.55% variable...3 years left on this mortgage. Always choose variable. Quote:
Originally Posted by Hehe You'd be sorely mistaken if you think the riches can just kiss their money goodbye as it were nothing.
Up until now, they didn't care about the rent/cost because the return between the purchase vs selling a few years down would more often than not cover any of those expenses.
Even for Chinese buyers who just wanted a way to get money out of China and store it somewhat have a limit on how much they are willing to lose to get that money out. Because there are other alternatives without having to lose that much.
IMO, in the short term, the condo market is done. Many overpriced projects near completion are selling at loss or near it, sometimes beyond what they paid in deposit because those buyers can't afford to close. | Ok genie. Heard that before!
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11-22-2020, 06:59 PM
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#16817 | | 14 dolla balla aint got nothing on me!
Join Date: May 2011 Location: vancouver
Posts: 643
Thanked 842 Times in 203 Posts
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1.68% variable for 5 years at BMO during their black Friday last week.
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11-22-2020, 08:09 PM
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#16818 | | in the butt
Join Date: Aug 2016
Posts: 2,632
Thanked 3,223 Times in 1,185 Posts
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2.54 (5year fix) 3 years ago prop1 rbc
2.34 (5year fix) 6 months ago prop2 rbc
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price? | | |
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11-22-2020, 08:33 PM
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#16819 | | Rs has made me the man i am today!
Join Date: Mar 2006 Location: Vancouver
Posts: 3,368
Thanked 2,225 Times in 1,027 Posts
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Originally Posted by cafe22 We recently locked down and placed the initial down payment for a pre-sale townhouse that will be completed by late 2022 (probably early 2023 with delays).
Is there any way to lock in a mortgage now so that we can take advantage of the <1.9% rates? Or do we have to wait until 120 days before completion date? | You are probably still good into 2022, BoC released that they don't plan on raising rates until 2023. Obviously that's not set in stone but it doesn't look like covid's effects would be gone until at least end of 2021, and it'll take some time to recover from there.
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11-24-2020, 06:31 AM
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#16820 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
Posts: 7,343
Thanked 2,346 Times in 973 Posts
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Originally Posted by Hehe
Up until now, they didn't care about the rent/cost because the return between the purchase vs selling a few years down would more often than not cover any of those expenses.
Even for Chinese buyers who just wanted a way to get money out of China and store it somewhat have a limit on how much they are willing to lose to get that money out. Because there are other alternatives without having to lose that much.
| Hm...the other perspective is more along the lines of collecting cars; you have about 1 vintage, 1 collectors, 2 supercars, 1 SUV, 3 daily drivers beaters... does it matter if any one of these cars just went down in value (book or not) and / or interest rates went down... not really.
yes, those who are using it as leverage.. diff story.
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11-24-2020, 09:25 AM
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#16821 | | RS Veteran
Join Date: Dec 2001 Location: GTA
Posts: 29,020
Thanked 10,514 Times in 4,312 Posts
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Originally Posted by Ch28 1.68% 5 year fixed through our mortgage broker. | wow, where did you buy? Details!
__________________ Quote:
Originally Posted by Badhobz Yeah. Typical Mainlander Barbie doll.
Her car even smelled nice. Like a mixture of luxury perfume and a hint of….. vag ? Fish sauce ? Something a bit dank | | |
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11-24-2020, 11:36 AM
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#16822 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,563
Thanked 3,960 Times in 1,208 Posts
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Originally Posted by Doubl3_H What's everyone's mortgage rates? If anyone's willing to share, lowest rate. | We just switched my clients from RBC to BMO at 1.69% on a 5-year plus $3,000 cash incentive.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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11-24-2020, 11:37 AM
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#16823 | | linguistic ninja
Join Date: Aug 2001 Location: Vancouver, BC
Posts: 15,847
Thanked 3,390 Times in 1,233 Posts
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Originally Posted by bcrdukes wow, where did you buy? Details! | My guess? Nowhere, ch28 still trying to time the market 
prove me wrong ol' boy, prove me wrong
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11-24-2020, 04:35 PM
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#16824 | | Willing to sell a family member for a few minutes on RS
Join Date: Feb 2005 Location: Surrey
Posts: 12,758
Thanked 688 Times in 375 Posts
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Originally Posted by Doubl3_H What's everyone's mortgage rates? If anyone's willing to share, lowest rate. | 1.49% 5 year fixed, non insured through a monoline (private) lender. Had to put 25% down on our $600,000 townhouse to get it though. I would never go with a big bank, they charge way too much if you have to break your mortgage for any reason and screw you when it comes times for renewals also majority of them have bonafide sales clauses in the policies as well. I give props to people that go with the big banks because you're throwing away money IMO when you can get a much lower rate through a private lender with way more options (prepayments, renewals, breaking the mortage, refinancing etc..)
I'm seeing 1.39% 5 year fixed being offered through the same lender now https://forums.redflagdeals.com/offi...thread-351105/
The brokers here on redflagdeals get you the lowest rates possible. They post replies and updates daily and are very easy to reach via PM.
Last edited by hotjoint; 11-24-2020 at 04:41 PM.
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11-24-2020, 08:35 PM
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#16825 | | I contribute to threads in the offtopic forum
Join Date: Apr 2007 Location: AB
Posts: 2,777
Thanked 234 Times in 96 Posts
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a lot of banks are offering cash incentives to offset the penalties though
I only have 2 years left before renewal, is it worth it to re-finance ?
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