April 2019 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

April 2019 Foreclosures

 

APRIL 2019 Abbotsford Foreclosure Attached
APRIL 2019 Burnaby Foreclosure Attached
APRIL 2019 Burnaby Foreclosure Detached
APRIL 2019 Langley Foreclosure Attached
APRIL 2019 Chilliwack Foreclosure Detached
APRIL 2019 Langley Foreclosure Detached
APRIL 2019 Mission Foreclosure Detached
APRIL 2019 New Westminster Foreclosure Detached
APRIL 2019 North Vancouver Foreclosure Detached
APRIL 2019 New Westminster Foreclosure Attached
APRIL 2019 Surrey Foreclosure Attached
APRIL 2019 Surrey Foreclosure Detached
APRIL 2019 West Vancouver Foreclosure Attached
APRIL 2019 Tri City Foreclosure Attached
APRIL 2019 Tri City Foreclosure Detached
APRIL 2019 Vancouver Foreclosure Detached
APRIL 2019 West Vancouver Foreclosure Detached
APRIL 2019 Vancouver Foreclosure Attached



Will House prices bottom out this year?

 

Will House prices bottom out this year?

Housing industry leaders say Metro Vancouverites can expect to see single-family home prices continue to fall this year along with some softening in the prices of new multi-family homes. But if you are counting on the housing market to be hit by a true recession, you may end up waiting a long, long time.



Refinance Low, Buy Low

 

Most people sell their small property and upgrade into a larger property. When they do this, they are selling high and buying high or they are selling low and buying low.  

Since the market has dropped since that crazy peak we saw a couple years ago, a better solution could be to refinance your current property, keep it and rent it out, then purchase another property at current market lows. 

For example, if your condo is worth $500k and you have a $200k mortgage on it, you could pull out $200k in equity. This $200k in equity can then be used to purchase up to a $1.0 million dollar home. It may be easier than you think when everything is structured properly!

You're not forced to sell your condo and you get to upgrade into a bigger home.

This also works for purchasing rentals. 



Hanging out with Pinkus

 

Was out at Rogers Arena a couple weeks ago hanging out with my friend Pinkus and the other volunteers with the Canuck Autism Network - helping to raise awareness of Autism, and the many social and recreational activities that CAN facilitates. 

Like to know more ? Give me a call, I'd love to tell you all about it.



Working With Old Friends

 

One of the things I love most about what I do, is the opportunity to work with old 'work' friends. Nice to catch up with these 2 - we all worked together many years ago in a completely different industry - and now all in the real estate world.



March 2019 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

Foreclosures

 

Mar 2019 Abbotsford Detached
Mar 2019 Abbotsford Attached
Mar 2019 Burnaby Attached
Mar 2019 Chilliwack Detached
Mar 2019 Commercial
Mar 2019 Coquitlam Attached
Mar 2019 Langley Detached
Mar 2019 Langley Attached
Mar 2019 Land
Mar 2019 Maple Ridge Detached
Mar 2019 Multifamily
Mar 2019 New Westminster Detached
Mar 2019 New Westminster Attached
Mar 2019 North Vancouver Detached
Mar 2019 Pitt Meadows Detached
Mar 2019 Port Coquitlam Detached
Mar 2019 Port Moody Detached
Mar 2019 Richmond Detached
Mar 2019 Richmond Attached
Mar 2019 Squamish Detached
Mar 2019 Surrey Detached
Mar 2019 Surrey Attached
Mar 2019 Vancouver Attached
Mar 2019 Vancouver Detached
Mar 2019 West Vancouver Attached
Mar 2019 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property.

If you decide to go this route, I recommend working with a realtor who is well versed with the foreclosure process. 



BC Speculation Tax Requires You To Do Your Paperwork

 

Over 99% of British Columbians are estimated to be exempt from the tax. However, to claim your exemption, you must register your property by March 31, 2019 – and it’s easy to do, either by phone or online.

The information you’ll need to register your property declaration will be mailed by mid-February to all owners of residential property within the taxable regions.

This map shows the areas in BC that are affected by the new tax and this is different than the empty homes tax in the city of Vancouver.

Please note that if your property has more than one owner, even if the other owner is your spouse, a separate declaration must be made for each owner.

You can visit https://www.etax.gov.bc.ca/SVT to make your declaration.



Business of the Month - Gemma Wilson, Realtor ®️

 

Every month I will be featuring a business owned by someone in my database.  If you would like to participate please contact me.

This month's contributor is Gemma Wilson - Realtor with Keller Williams

Springtime is the perfect time to welcome warmer weather and colour after winter. 

As this is traditionally a time when a lot of homes get listed, it’s an easy way to amp up the curb appeal for your home and set it apart from the rest. Not to mention a cheery welcome to visitors!

Simple is best when it comes to planters. Most garden stores have these plants ready to be placed into a larger grouping. They can either stay in these containers or be planted in to enjoy for more seasons to come. 

Plants to consider: mini daffodils, winter hardy pansies, and Primulas. Add some decorative branches like pussy willow or red dogwood and you’re done!

If you’re ready to list or have real estate questions, please don’t hesitate to contact me by phone 778-871-6296 or by email at gemmawilsonkw@gmail.com

Gemma Wilson, Realtor ®️



Behind the Scenes Fun

 

It started out feeling really uncomfortable, but in the end was so much fun.

I have never had an actual 'photo shoot' before. Hopefully out of the 100's of snaps, there will be some gems we can each use to promote our businesses.



7 Mental Hacks to Be More Confident in Yourself

 

Confidence is the cornerstone of leadership. If you don’t believe in yourself, how can others believe in you? Here are seven ways  to boost your confidence—mental hacks you can use to be more confident in yourself.

1. Push through self-limiting beliefs.

Find your limits by exposing yourself to different situations and pushing through the uncomfortable. Once you have confidence in yourself, you’ll be amazed what you can accomplish.

2. Never confuse memory with facts.

Revisit the facts of a memory loaded with self-limiting beliefs and try to gain a more accurate perspective on the event. Talk with others that might have a different perspective.

3. Talk to yourself.

Be positive, because the way you talk to yourself influences your neurobiological response to it. When you say, I know what to do here or see things as a challenge rather than a problem, you’ve turned your response into a positive one.

4. Think positive to overcome your negativity bias.

* Come up with five positive thoughts to counter every one negative thought.

* Let every positive thought sit for 20 seconds before moving to the next positive thought.

* Acknowledge both good and bad emotions.

* Do not try to suppress negative ones.

* Label the emotions for what they truly are and move on. Do not enter into inner dialogue about the negative emotion because then it becomes more powerful.

5. Raise your curiosity levels.

Ask questions and be curious because:

* It makes your mind active instead of passive.

* It encourages you to be more observant of new ideas.

* It opens up new worlds and possibilities.

* It creates an adventurous response that leads you in a new direction.

6. Overcome self-doubt.

No one but you is stopping you from achieving what you want to accomplish. It’s time to identify the areas in which you doubt yourself and remove those barriers.

7. Face your fears.

Think about your worst fear. Spend time with it. Now make your fear worse by getting closer to it. Imagine the worst that could happen. Now focus on your breathing. Feel your body relax. See, you didn’t die, did you? You’re on your way to conquering your fear.

If you don’t believe in yourself, how do you expect anybody else to? Start today.



February 2019 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

Latest Foreclosures !

 

Detached Burnaby
Detached Chilliwack
Detached Langley
Detached Maple Ridge
Detached Mission
Detached North Delta
Detached North Vancouver
Detached Richmond
Detached South Surrey White Rock
Detached Squamish
Detached Surrey
Detached Vancouver East
Detached Vancouver West

With the market in the midst of change, the number of foreclosures available is ever increasing. The list provided is a mere sampling of what is available - please keep in mind there are a multitude of single family, condo, townhouse, and commercial properties available in foreclosure as well.

Buying a property in foreclosure is different than a regular MLS listing. I am happy to discuss the process and your needs, and to provide you with a complete list.  



BC Speculation Tax Requires You To Do Your Paperwork

 

Over 99% of British Columbians are estimated to be exempt from the tax. However, to claim your exemption, you must register your property by March 31, 2019 – and it’s easy to do, either by phone or online. The information you’ll need to register your property declaration will be mailed by mid-February to all owners of residential property within the taxable regions.

This map shows the areas in BC that are affected by the new tax and this is different than the empty homes tax in the city of Vancouver.

Please note that if your property has more than one owner, even if the other owner is your spouse, a separate declaration must be made for each owner.



Are Rates Going To Increase?

 

Probably not.  Since November, the 5 year bond rate has decreased by .7%.  

The only problem is residential lenders have not reflected this in their rates.  

Assuming rates remain in this range, we should see rates decrease accordingly over the next couple months.

Contact me today to chat about this in greater detail!



Speaking in Manila !

 

I was honoured to speak to an amazing group of Manila entrepreneurs back in December !

Speaking to groups is not new to me - but this was a whole new deal. My topic was "The Power of Saying YES" - and how being open and available can lead to amazing opportunities and positive changes in your life and business. 

Looking forward to a full agenda of speaking engagements this year - stay tuned for more details !



Lazy Sunday Afternoon !

 

I (almost) feel bad posting this photo, knowing all the cold and snow that my fellow Canadians have been enduring recently. 

Anyway .. 

I have discovered that it is good for the soul to spend a lazy, sunny afternoon lounging around a tropical lake. Really , I strongly suggest it.

Who has been to the Philippines ? E-mail me your favourite places to hang out.



Free Advertising In Awe-mazing Space!

 

Every so often I will be featuring a business owned by someone in my database that I feel has real value to my newsletter recipients.

If you would like to participate and feel your business or service would benefit my newsletter recipients, please contact me. Your business or service will appear in the Awe-mazing Space article in this "Awesome" newsletter. It will be completely free to share your business or service, but it must offer value to those that read my newsletter each month. Stay tuned!



January 2019 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

Foreclosures !

 

Attached Cloverdale
Attached Coquitlam
Attached Langley
Attached Maple Ridge
Attached New Westminster
Attached Richmond
Attached Surrey
Attached Vancouver - East
Attached Vancouver - West

With the market in the midst of change, the number of foreclosures available is ever increasing. The list provided is a mere sampling of what is available - please keep in mind there are a multitude of single family, condo, townhouse, and commercial properties available in foreclosure as well.

Buying a property in foreclosure is different than a regular MLS listing. I am happy to discuss the process and your needs, and to provide you with a complete list.  



Brace Yourselves ..

 

It's that time of year again - BC Property Assessments !

Last year pretty much everyone saw an increase in their assessed property value. This year is more of a mixed bag - some are up , most are down. 

If you can't wait to get your copy in the mail, or are just curious what your neighbours assessment is (property assessments are public information) - check out www.bcassessment.ca

Key point to remember - your assessment is NOT the true value of your property - it is the value of your property as of July 31, 2018.



Tony Robbins’ Ultimate Guide to Your Best Year Ever

 

The 5-Step Plan to an Extraordinary Year

Transforming into the person you want to be in 2019 is not difficult so long as you have the dedication, focus and correct tools at your disposal. But you should always remember to set your sights on something within reason.

Most people overestimate what they’re going to do in a year, and they underestimate what they can do in a decade, or two or three or four.

Follow this roadmap to begin crafting the best year of your life.

1. Feed your mind.

Feeding your mind is all about perspective. You’ve got to bring something new to it otherwise, you’re going to keep operating off the same old beliefs, the same old thoughts, the same old emotions that have not gotten you to the level you want. Don’t just hope things will go the way you want. Condition yourself to believe that they will.

Feeding your mind is all about perspective. You’ve got to bring something new to it.

2. Strengthen your body.

Strengthening one’s mind is crucial. But equally important is strengthening one’s body.   

Go on a sprint. Go lift some really heavy weights. Go on a really long walk. Priming your physical self can set the stage for the change you want to see mentally or emotionally. You’re going to get depressed if you drop your shoulders, drop your head, speak slowly and think about what you’re afraid of. But if you go for a really intense run, music blaring and heart pumping, your body and mind will both be energized and clear, and you’ll be able to better focus on what you want.

3. Find a great role model.

If you want the best year of your life, you need to decide to find a great role model who is already getting the results you want. You don’t want to just try to do it yourself.

4. Take massive action.

This step is simple: Make a huge step forward. Build your company’s website. Reach out to a prospective investor. Talk with your spouse about couples counseling. Plan that grand vacation for your family you think will bring everyone together.

But you must remember to be flexible and alter your course if necessary. To really demonstrate the importance of this point, Robbins often shares the same metaphor. Let’s say your goal was to see a sunset, and you began by running east.

“I don’t care how positive you are, I don’t care how enthusiastic you are, it’s not gonna happen—you have the wrong strategy,”

5. Get outside of yourself.

Instead of focusing 100 percent on your goals and what you want to achieve, you must also find a way to add value to others. As corny as it sounds, the spirit of living is giving, and it’s what makes us alive. This will have two primary impacts:

No. 1, your problems will lessen in intensity.

No. 2, your life will have more meaning.

Life is not about me; life’s about we. So it’s not just growing, it’s growing and contributing beyond yourself that makes your life meaningful.

Embrace Uncertainty

One of the most important things you can do to make 2019 your best year yet is become comfortable with uncertainty. The quality of your life is in direct proportion to the amount of uncertainty you can comfortably live with. Because if you want to be certain about everything every moment, then you can’t do something new, you can’t grow.

Our brains were designed to assess and combat risk, and fight or flight when necessary. But we are more than our minds. We’re our heart, we’re our soul, we’re our spirit.

And if everything in life were certain, life wouldn’t be worth living. We all want certainty so bad. But if you’re totally certain every moment, what’s going to happen? You’d be bored. So we need uncertainty. We need a lot of it.



She said "YES" !

 

2018 was a great year. For me , the #1 highlight is that this amazing woman said YES ! 

Over the past 3 years, Pam has become my best friend, my strongest cheerleader, and hardworking business partner. I am so excited to see what the future has in store for us.



Is Your Mortgage Up For Renewal In 2019?

 

If your mortgage is up for renewal in 2019, make sure to explore all of your options.

Your current mortgage lender does not always automatically offer you the 'best' rate because they know that statistically, most people will simply sign whatever offer they present to you as your mortgage maturity date approaches.

If you have a mortgage up for renewal in 2019, contact me and we will discuss all of the options available to you.

I look forward to working with you in 2019!



Is Your Mortgage Up For Renewal In 2019?

 

If your mortgage is up for renewal in 2019, make sure to explore all of your options.

Your current mortgage lender does not always automatically offer you the 'best' rate because they know that statistically, most people will simply sign whatever offer they present to you as your mortgage maturity date approaches.

If you have a mortgage up for renewal in 2019, contact me and we will discuss all of the options available to you.

I look forward to working with you in 2019!



October 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

October Foreclosures

 

Detached Burnaby
Detached Fraser Valley East
Detached Langley
Detached Mission
Detached North Delta
Detached North Vancouver
Detached Richmond
Detached Ridge Meadows
Detached South Surrey White Rock
Detached Squamish
Detached Surrey
Detached Vancouver East
Detached Vancouver West
Detached West Vancouver

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Great Video - Vancouver 1984 !

 

Watching this sure brought back some memories. No Rogers Arena , the old Cambie Street Bridge , and Yaletown is so empty !

It's a bit long at 24 minutes , but well worth the watch.

https://www.facebook.com/BeVancouver/videos/1668207049918769/



I'm in video !

 

Last month I started creating and posting to Facebook, videos relating to mortgages.

You can check my Facebook Business Page - here !

Let me know your ideas for what topics you'd like to me cover in future videos.



Know Before You Go. Get Pre-Qualified Now!

 

Even though the Real Estate Market has cooled somewhat, I am still finding that people are calling after they have an accepted offer on a property. Sadly, often these folks can't qualify to buy a house they already fell in love with. You can save yourself, (and your Realtor), a bunch of heartache and time by simply getting a mortgage pre-qualification.

Knowing how much home you can afford before you agree to buying is just good sense. We can usually get you pre-qualified in under a day and hold your rate for 3 months. Then you can go ahead and fall in love with a home you can comfortably afford, and get the best rate available, and avoid getting sued for committing to purchase a home you can't. It's a triple win! 

Call me to find out how much home you can afford, then, Happy Home Hunting.



September 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

September Foreclosure Lists

 

Attached - Burnaby
Attached - Chilliwack Sardis
Attached - Delta
Attached - Langley Cloverdale
Attached - Richmond
Attached - Ridge Meadows
Attached - Surrey
Attached - Tri Cities
Attached - Vancouver East
Attached - Vancouver West
Attached - Whistler Squamish
Detached - Burnaby
Detached - Delta
Detached - Langley Cloverdale
Detached - North Shore
Detached - Richmond
Detached - Ridge Meadows
Detached - Sardis Chilliwack
Detached - South Surrey White Rock
Detached - Squamish Whistler
Detached - Surrey
Detached - Tsawwassen Ladner
Detached - Vancouver East

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Tips on Financial Freedom

 

Struggling to learn how to manage your money? Forgot how to make a budget and stick to it?

Don't know where to start with your debt?

Well here are 10 personal finance lessons in 10 simple sentences…



Commercial Financing Training

 

The last weekend in August I had the opportunity to re-take my Commercial Financing Training. Remembered a few old things, and learned a few new things.

If you or anyone you know is looking for any type of Commercial financing - let's chat.



How to get out of debt on a single income after a divorce

 

Q: My husband and I recently divorced. I’m having a hard time adjusting to the single life. When we were together, we had more money coming in, but now I’m renting a one-bedroom apartment, which costs me $1600, not including my hydro and internet. I’ve also got car expenses and my cellphone bill. I only make $45,000 a year. Needless to say, it’s been hard to adjust to all these expenses and I’ve racked up about $4,000 in credit card debt. I make the minimum payments to keep a decent credit score, but I don’t think I’ll ever be debt free at this rate. What do I do?

A: It can be a challenge adjusting to a single income, post-divorce because suddenly you become responsible for the entirety of your living expenses. You’re not alone, however.

Continue Article Here...



You’re Killing It! 15 Quotes for an Unstoppable Attitude

 

Life is a wild card. You never know what new challenge or obstacle’s coming next, but you always have two options: take control or fold under pressure

Because it’s not always about what happens to you. Sometimes it’s about how you choose to handle the storms—to keep moving forward with your life when uncertainty is raging around you. The strongest people don’t quit, they simply grab their umbrellas.

So how do you know if you’re killing it in life? If you have a never give up attitude, much like these 15 motivating quotes, then you’re well on your way to crushing anything that comes your way.

You’ve got this.

1. “A ship is always safe at shore, but that’s not what it’s built for.” —Albert Einstein

2. “Some people want it to happen, some wish it would happen, others make it happen.” —Michael Jordan

3. “The question isn’t who is going to let me; it’s who is going to stop me.” —Ayn Rand

4.  “Do what you have to do until you can do what you want.” —Oprah Winfrey

5. “We should all start to live before we get too old. Fear is stupid. So are regrets.” —Marilyn Monroe

6. “When the whole world is silent, even one voice becomes powerful.” —Malala Yousafzai

7. “Above all, be the heroine of your life, not the victim.” —Nora Ephron

8. “Do not pray for an easy life, pray for the strength to endure a difficult one.” —Bruce Lee

9. “Scar tissue is stronger than regular tissue. Realize the strength, move on.” —Henry Rollins

10. “The people who are crazy enough to think they can change the world, are the ones who do.” —Steve Jobs

11. “The future belongs to the few of us still willing to get our hands dirty.” —Roland Tiangco

12. “You have enemies? Good. That means you've stood up for something, sometime in your life.” —Winston S. Churchill

13. “If you shoot for the stars and hit the moon, it’s OK. But you’ve got to shoot for something. A lot of people don’t even shoot.” —Confucius

14. “It’s your place in the world; it’s your life. Go on and do all you can with it, and make it the life you want to live.” —Mae Jemison

15. “Only those who are willing to risk going too far can possibly find out how far one can go.” —T.S. Elliot



August 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

August Foreclosure Lists

 

Attached - Burnaby
Attached - Langley Cloverdale
Attached - North Delta
Attached - Richmond
Attached - South Surrey White Rock
Attached - Surrey
Attached - Tri Cities
Attached - Vancouver East
Attached - Vancouver West
Detached - Burnaby
Detached - Fraser Valley East
Detached - Langley
Detached - North Delta
Detached - North Shore
Detached - Richmond
Detached - Ridge Meadows
Detached - Squamish Whistler
Detached - Tri Cities
Detached - Tsawwassen Ladner
Detached - Vancouver East
Commercial

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



5 Smart Ways to Start Investing in Rentals Later in Life

 

“The best time to plant a tree was 20 years ago. The second-best time is now.” —Chinese Proverb

Think you missed the boat on real estate investing? That it’s somehow “too late” because you’ve reached your 40s, 50s, 60s, or even 70s?

Think again.

Real estate investing is not the exclusive domain of the young, hip, and unattached. In fact, middle-aged and senior investors bring some unique experiences and advantages to the table.

Sure, you might have kids. A spouse. A demanding job. So what? You think you’re the first parent who works full-time to buy a rental property?

You probably have a lot more savings than the 23-year-old who’s trying to buy their first property. For that matter, you probably have experience buying real estate—in the form of a home. You’ve been through the mortgage financing process before and know some of the pitfalls to watch out for.

Here are a few pointers for older adults, to buy their first rental property in middle age or later.

5 Smart Ways to Start Investing in Rentals Later in Life

1. Leverage (and build!) your network.

Take advantage of your superior network and double down on building an even stronger one. Start assembling your dream team. After all, real estate investing is a team sport, and you have several more decades’ worth of contacts to draw on to fill out your roster!

2. Capitalize on your existing capital.

After being employed for several decades, you should have far more money set aside.

That extra capital is a competitive advantage!

3. Take another look at house hacking.

Don’t discount them just because your experiences with smaller properties have been less than thrilling. Even if you are committed to living in a single-family home, there are many ways to creatively house hack and create income out of it.

4. Keep your eyes on the prize: income for retirement.

People invest in real estate for many reasons and in many ways. As an older adult, consider putting “passive income” at the top of your priority list.

One of the things I love the most about rental investing is you can forecast your returns incredibly accurately, before ever putting a single dollar down as a deposit. You know the market rent, the neighborhood vacancy rate, the local property management costs, property taxes, insurance. You can accurately forecast CapEx and repair costs.

5. Snowball your extra income.

Re-invest all the extra income generated from the cash flow.

Set it aside and put it in the stock market. Or in private notes. Or best of all, in more rental properties. Because ultimately, you’re on a mission. Your mission, whether you choose to accept it or not, is to retire with more wealth, because more wealth brings more options. As you build streams of rental income, you can retire young, or keep working and building more wealth.

It’s never too late to start buying rental properties. If you invest strategically, you can accelerate your retirement saving and build a stable and permanent base of passive income.



Education - it does a mind good ..

 

I am a big proponent of education, self-improvement, and giving back. One way I accomplish all 3 is through a Meetup that I co-organize - the Synergy Real Estate Network.

We meet each month in Surrey, and help people to be able to chart their course in real estate ownership / investment.

Are you a home owner and considering another purchase ? Are you planning to make your very first real estate purchase ? Of , are you a life long renter who has given up on the dream of owning real estate ?

If you fall into any of these categories , let's chat and discuss what options are available for YOU ! 



Eating my way through the North Okanagan

 

I love getting away for the weekend. Especially when I can combine it with good food & great company. This past weekend I explored a couple of new places in the (North) Okanagan - a coffee shop in Vernon, and a new Cider farm in Armstrong.

1. Ratio Coffee ( ratiocoffee.ca ) in downtown Vernon. It was mildly challenging to find parking due to all the road construction in the area, but well worth it. Delicious coffee, and perhaps even better cinnamon sticky bun - yum !

2. Farmstong Cider Company ( farmstrongcider.com ) in beautiful Armstrong. Just a short country road drive from downtown Armstrong, Farmstrong is definitely worth checking out. Great views, delicious pizza, and amazing fresh Cider.

Please share - what are your favourite spots to get away to ?



11 ‘Back To School’ Parent Tips

 

Where did the summer go? Fall is just around the corner and “back to school” is on many parent’s minds. The challenge is getting school back on the mind of your “live-in” student. If you want your child to hit the ground running academically this school year, then it’s time to retrain their brain.

Schools around the globe provide a system of routines for maximizing learning that is specific to each student’s age and ability. Unfortunately, these routines have been breached with approximately 90-days of vacation and they need to be re-established prior to the first day of class. Here are 11 tips to help your student establish routines for a successful school year.

Continue Article Here...



NEWS - CMHC Makes It Easier For Self-Employed Canadians to Get a Mortgage

 

OTTAWA — Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage.

The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers qualify for home mortgages.

Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable and CMHC is now working on correcting some of the impacts the recent qualifying changes have had on the self employed.

There are still great Mortgage Rates available, for details contact me today at: 604 336-6575 or email at david@mortgageslab.ca 

Click here to read full article and watch the video



July 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

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July Foreclosure List

 

Burnaby - Attached
Burnaby - Detached
Delta - Detached
Ladner - Detached
Langley - Attached
Mission - Detached
North Shore - Detached
Richmond - Attached
Richmond - Detached
Ridge Meadows - Detached
South Surrey White Rock - Attached
Sunshine Coast - Attached
Surrey - Detached
Tri Cities - Attached
Vancouver East - Attached
Vancouver East - Detached
Vancouver West - Attached
Vancouver West - Detached
Commercial Foreclosures

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Synergy Real Estate Network

 

Are you a real estate investor - or want to learn how to become one ? 

I am always happy to chat with anyone who has an interest in real estate. Contact me if you'd like to attend one of my club meetings, or just chat one on one over coffee.

Our next meeting is Wednesday July 25 - at 6:30 PM in Surrey. 

https://www.meetup.com/SynergyREN/events/249697991



Bank of Canada Increases Overnight Rate

 

The Bank of Canada met this morning and increased their overnight rate, which means that Prime is heading up. Don’t panic!  This is normal. Check out the photo above, showing the pattern of the overnight rate going back to 1993.

Today the overnight rate increased to 1.50%. Just over 10 years ago in 2007, the rate was 4.25% which made Prime rate 6.25% at that time.  With this increase Prime will likely go up from 3.45% to 3.70%.

In reality this is good news because it means the overall economy is growing.  Please remember that only variable rate mortgage holders are impacted by increases to the overnight rate and therefore the Prime rate.

If you are a variable rate mortgage holder and have questions or are wanting to lock in your mortgage, simply send us an email or give me a call at 604 336-6575.

The next meeting of the Bank of Canada is September 5th and we will be sure to update you again.



Always Learning ..

 

Earlier this month I attended a 2-day educational event by Richard Robbins. 

The training was excellent, and focused on ways to provide better service to my clients in reaching their real estate goals.

What do you do to improve what you do ?



Podcast

 

Think. React. Lead. 

Dom Faussette is an author, executive coach and leadership speaker. His podcast Think. React. Lead. takes you through anything from methods to achieving success, to overcoming obstacles to leave your corporate job and following your passion.

Each week I look forward to Dom's newest episode (and his Instagram feed) - always helps me focus on what I can do better in business and in life.

What are your favourite Podcasts ?



Use the Right Paint Finish

 

Ready to paint your home? Be sure to use the right finishes in each room and feature to make the best impact in your home. Using the wrong finishes can backfire for home owners if the wrong ones are used in the wrong spaces. Below, you'll find the most common finishes and recommendations on where they are best applied to.

- PAINT FINISHES - 

Flat is a low-sheen paint with a non-reflective finish that touches up well and hides minor surface imperfections.  It's ideal for low traffic areas, interior walls and ceilings.

Matte has a low luster reflective finish that is durable, easy to clean, touches up well, and also hides minor surface imperfections. It is great for low to moderate traffic areas, such as bedrooms, and interior walls.

Eggshell Enamel has a soft, velvety appearance and is a good choice for moderate traffic areas such as living rooms.

Satin Enamel if you desire a pearl-like appearance, and are painting moderate to high traffic areas or areas that have some exposure to moisture, such as kitchens.

Semi-Gloss Enamel if you desire a sleek, radiant sheen that is great from cabinets and trim, high-traffic areas and high-moisture areas.

Hi-Gloss Enamel creates a brilliant, shiny appearance with a glass-like finish. This is great for high-use surfaces



June 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

June 2018 Foreclosures

 

Attached - New West
Detached - Mission
Attached - South Surrey White Rock
Attached - Vancouver West
Attached - Burnaby
Detached - North Delta
Attached - Vancouver East
Attached - Richmond
Attached - Tri Cities
Attached - New West
Attached - South Surrey White Rock
Attached - Burnaby
Detached - Mission
Detached - Ladner
Attached - Vancouver East
Detached - North Delta
Attached - Vancouver West

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Save $570 on Property Tax

 

For those of us that pay our property taxes this information is for you.

You should’ve received your property tax notice in the mail by now, or this week.

You, assuming the property is your principal residence, will want to claim your home owners grant. Column B for most and some Column C

You will need this notice to do this. You will go online to your cities website (ie. www.Surrey.ca/ehog). Claiming your grant will take you about a minute or less. I just did mine in seconds.   Here's how to claim your Home Owner's Grant (click link).

Hopefully this helps! Happy saving $570!



Why are 90% of people choosing Variable Rates?

 

The safe and sound choice in today’s mortgage market is to lock down a rate for five years and let borrowing costs do what they may.

That’s how you should proceed if you’re a nervous first-time home buyer or just holding things together financially as you renew. Everyone else, consider the variable-rate option. While they leave you exposed to rising interest rates ahead, variable-rate mortgages can be cheaper in two important ways.

For more, read this article by Rob Carrick from Globe and Mail:

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-two-reasons-to-consider-a-variable-rate-mortgage/Read more about variable v fixed



Okanagan Dreamin ..

 

A couple of weeks ago, I made my first trip of 2018 to the Okanagan (this one went much smoother than my last trip there - no icy road car destruction this time !).

This is a photo of a Shuswap Lake 'beach'. Hopefully the lake water levels will recede quickly back to more normal levels, so I can enjoy some hot sand time. 

Happy Summer everyone !



Awesome new Kids Book !

 

My good friend Ricky Shetty is launching his first kids book this weekend (June 17) ! Ricky, along with his wife Anne, and their 3 kids, have been travelling full-time since December 2016. So far, they have visited every country in South and Central America. 

Ricky's new Book - Exploring The Continents - Volume One (South America) goes on sale this weekend !

Check out his Facebook page for more information - https://www.facebook.com/ExploringTheContinents/



Synergy Real Estate Network

 

Are you a real estate investor - or want to learn how to become one ? 

I am always happy to chat with anyone who has an interest in real estate. Contact me if you'd like to attend one of my club meetings, or just a one on one chat over coffee.

Our next meeting is Wednesday June 27 - at 6:30 PM in Surrey. 

https://www.meetup.com/SynergyREN/events/249697991



May 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

David - Facebook David - Twitter David - Linkedin

May Foreclosures

 

Delta Detached
Abbotsford Attached
Cloverdale Langley Attached
Cloverdale Langley Detached
Ladner Detached
Burnaby Detached
New Westminster Attached
Burnaby Attached
Mission Detached
North Shore Detached

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Mortgage Renewing in 2018 ?

 

I saw a statistic the other day that claimed almost 50% (47% was the stat) of all mortgages in Canada will be coming up for renewal this year.  In Canada, there are $1.6 Trillion of mortgages outstanding.  47% of that number is a really big numbers.

If you or someone you know has a mortgage maturing this year, then we should talk.

Many lenders don't offer you the best deal when you renew your mortgage and they wait until the last minute to remind you of the renewal.

This year, I have already talked to many clients and saved many clients a great deal by connecting early, 3 or 4 months prior to the renewal date.  Mortgage rates have been steadily climbing and the sooner we speak the sooner you can guarantee a lower rate and protect yourself until the maturity date.

Another thing you know... Banks, like TD bank have been sneaky to increase their posted rates. Why sneaky?

Well, by increasing the posted rate, they are creating a larger margin between the rate you get and the interest rate that is posted.  They use this margin to calculate your penalty in the future, if you break the mortgage early.

All the banks know that 73% of their clients break their mortgage before the end of term and if they have a higher spread when they calculate the penalty, then they win!

Ask me about this...  call or text 604 336-6575.



Why do we celebrate Victoria Day?

 

For some, Victoria Day is a sign that summer is just around the corner. The holiday, which is only celebrated in Canada and Scotland, began as a celebration to honour Queen Victoria’s birthday. 

Victoria Day was declared a Canadian holiday by the government in 1845. At that time, it was celebrated with picnics, parades, sporting tournaments, fireworks, and cannon salutes. When Queen Victoria died in 1901, Canada’s parliament officially named the holiday Victoria Day. It was decided that the day would be celebrated on May 24th each year (or on May 25th if the 24th fell on a Sunday).

In 1952, the government made the decision to begin celebrating Victoria Day on a Monday. It would be observed on May 24th if that worked out, otherwise it would be held on the Monday immediately before it. Today, Victoria Day is a holiday throughout all of Canada. 

As far as today’s celebrations, Victoria Day is marked in most cities with parades, outdoor events and activities like camping and elaborate firework displays.

Have a great long weekend! :)



Spring / Summer is finally here ?

 

Let's hope. After what felt like a particularly miserable , cold , and wet winter - I need some sunshine !

I wish everyone a happy , safe , and sunny May Long Weekend. 



Calling all Podcasts ..

 

I am a BIG fan of Podcasts. Super Fans by Purdeep Sangha is my current favourite. If your business (or job) relies on referrals, this one is a must listen to. Purdeep teaches you how to turn your clients into Super Fans.

Each month I will post a Podcast I am in to. 

What are your favourite Podcasts ?



5 things you can teach your Teenager about saving Money

 

If there’s one huge gift we as parents can give our kids, it’s the knowledge they need to grow up to be financially stable adults.

But before you can expect kids to happily embrace the idea of setting money aside, they might need your help understanding a few things to make it all click, including:

1 - The value of money

While you may have encouraged your kids to save money for big purchases, many teens still don’t understand all the “whys” behind saving. They’ve never had to pay for things such as unexpected car repairs or monthly expenses like a utility bill.

2 - How bank accounts work

Before teens can truly master money matters, they should understand how money moves around.

They need a solid rundown on the basics, from checking and savings accounts to bank fees, to how debit cards work and what it means to “bounce” a check.

3 - Why you should always “pay yourself first” 

It doesn’t mean splurging on a shopping spree or an expensive restaurant. “Paying yourself first” is the financial concept of automatically routing money into a savings account before allotting funds for other expenses.

Regular, consistent contributions are key to building short-term savings (new car, vacation, etc.) as well as a rainy-day fund and a “nest egg” for the future.

4 - How credit can hurt — and help you

It’s vital that teens understand how borrowing money works, especially since they’re on the cusp of becoming credit-holders themselves. Help them understand that racking up too much debt or making late payments can result in huge interest payments and late fees that will damage their credit score — as well as their ability to borrow money in the future.

5 - The concept of interest

Your kids may not realize that “smart” saving is more than just sticking cash in a jar on a shelf. That’s why you must explain the idea of compound interest to them: When you save, you earn money on the funds you’ve stashed away.

Just don’t forget to stress that the reverse is also true: When you borrow money, you pay money on the money you’ve been loaned.