Joint Ventures with Mitch Collins!
  
In just 10 years Mitch Collins has amassed over 100 properties with over $11 million dollars of joint venture capital. Starting off with his own property management company, then renovation company, a construction company and Century 21 Canada awarding him the #1 REALTOR in BC, #3 in Canada in 2014, I can't believe he still found the time to give back to the community and speak about his story.
Email me if you would like a copy of the FREE audio file!
Central 1 Economic Outlook
2014 Central 1 Economic Outlook
I was emailed this report from a client from September 2014 and is a very interesting read for geeks like me!
Northern British Columbia The North produces about two-thirds of provincial export wealth.
The Lower Mainland, despite being the most populous area of B.C., is overwhelmingly a service centre for resource-rich rural B.C., and predominantly a place of consumption rather than production. On average, the Lower Mainland exported $9,781 per capita in 2001, while Northern exports per capita were valued at $41,223; this is 157% higher than B.C.’s per capita exports, and 321% higher than the per capita exports of the Lower Mainland region of the province.
While significant wealth is derived from natural resources as these commodities move up the value chain, estimates have determined that economic activity in Northern B.C. contributes approximately $11.3 billion, or 6.9%, to the province’s GDP.
Check out page 11 in the attached document. The economic outlook into 2017 looks promising for GDP and each of the energy sectors. Check out the growth for support for oil and gas at a whopping 17.1% change (up from 2.8% the previous year)!
Latest Mortgage Tips
- Any properties up to 160 acres CMHC will allow the value of the 60 acres house and garage
- Client purchasing a property as primary residence that provides rental income CMHC will allow 100% of the rental income.
-Client must have credit score of 680 or higher
-Client must provide 2 years of proven rental agreements
-Client purchasing an investment property: 80-100% of Economic rent can be used (a reminder on investment properties clients must have 20% down)
Example: on $2000 a month rent is $24,000 a year- this allows the client to have $640 more of a monthly mortgage payment-big impact on their purchasing power
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