8th Edition - The 7 Profit Centers - 7th Module is Re-Investing

Norma Doucet - Real Estate Investor

ProperDy's Investment Specialists

ProperDys@gmail.com
6047001855

HAPPY NEW YEAR 2017

 

I hope you all had a Merry HoHo and a Happy Hehe. May this New Year be even better than the last!

Sorelle and I traveled to Calgary to visit with the grandparents and family for Christmas. The trip was cold but wonderful. It is sure nice to be with family at the holidays. I must say that we could have still done without the snow though! It seems to be following us ... 

Back to school and the daily routine again this week. 

No matter how close or far, we always think of all our friends and family around the world. You are always still thought of ... especially during the holidays.

Hugs and New Years Kisses



12 Warren Buffett Quotes for Better Investing

 

Mr. Buffett himself will not be sitting at your dinner table offering you advice on your real estate investing career anytime soon, so here is a compiled list of what I deem to be some of the best pieces of advice from him.

Take them or leave them as you wish. Maybe they apply to your situation and may be they don't, but they are certainly worth a quick consideration.

Here you go:

1. Be fearful when others are greedy, and be greedy when others are fearful. 

2. A public opinion poll is no substitution for thought. (Don't just listen to everyone and their moms  ranting off about stuff and take it for gold)

3. Think in terms of income, not appreciation. (Always be cautious when speculating)

4. You ought to be able to explain why you're taking the job you are taking, why you're making the investment you are making, or whatever it may be. And if it can't stand applying pencil to paper, you'd better think it through some more. And if you can't write an intelligent answer to those questions, don't do it.

5. Use partnerships to fill your gap in expertise. (Be willing to admit your weaknesses and be willing to bring in team members to fill those)

6. Minimize your mistakes and learn from those you make. (Literally the key to real estate investing)

7. I really like my life. I have arranged my life so that I can do what I want. (The difference between investing and a job)

8. When you plan to buy, plan to hold. (Buffett is huge on the idea of holding. Remember the importance of long term plays)

9. The macro view is more important than the micro view. (Look at the big picture)

10. Risk comes from not knowing what you are doing. (Be educated)

11. Embrace the boring. (Sometimes the boring long-term plays are the most successful)

12. I'd buy up a couple thousand single-family homes if it were practical to do so. Houses are better than stocks. (Maybe a little biased on my part since I invest in real estate, but he has a point!)



Muck About in the New Year!

 

NEED THAT SPECIAL GIFT IDEA?

MUCKABOUT IS NOW OPEN from 5 to 9pm

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Join Us!

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Work from local artists, pottery, hand-made goods, found items and upgraded antiques. The future will bring art education/DIY/craft classes for men, women, and children. 

​We are so excited to spread the word. Help us spread the word and collect some great Artists by telling everyone you know. 

http://muckaboutpottery.weebly.com/blog



8th Edition - The 7 Profit Centers - 7th Module is Re-Investing

 

Many do not know that there are more than one way to profit in Real Estate.

Let alone ... that there are 7!

Put your reading caps on and come learn a few of the investment secrets.

Whether you want to go it alone or join with partners that do your work for you

... check it out!. Let me know what you think!

What will you do with your "Golden Goose"?

http://properdys.com/2017/01/02/7th-module-re-investing-your-equity/



The Principal Residence Tax Rules - Recent Changes

 

Late last year Finance Minister Bill Morneau introduced tax changes that will impact every homeowner in Canada. In particular, the newly announced rules will tighten and enforce the requirements necessary for claiming the capital gains tax exemption on a principal residence. To help you understand how this impacts you, here is some basic information.

What qualifies as a principal residence?

According to the Canada Revenue Agency, any residential property owned and occupied by you or family at any time in a given year could be designated as a principal residence.

How do capital gains and the principal residence exemption work?

All property—including your home, cottage, real estate rentals, even stock portfolios—are subject to capital gains tax when they increase in value.

If the accommodation you’re selling isn’t an investment but your principal residence, the CRA provides a full exemption from all capital gains tax you would’ve incurred.

How do the recent changes impact homeowners?

First, there are no changes to the principal residence exemption. What has changed, however, is that you have to report to the CRA when you file your tax return, in order to qualify for the principal residence exemption. Up until the recently-announced changes, you did not have to do that.

This reporting requirement will now apply to every property sold in Canada, even if the entire gain is fully protected by the principal residence exemption.

Is there a penalty for not reporting?

There is no immediate financial penalty for failing to report the sale of your home, however, much like other omissions, if the CRA audits and finds the sale you could be subject to interest on taxes owed, as well as penalties.

You're strongly recommended to take accounting/legal professional advice about this. Thanks.

(For details, go to ‘Money Sense’)



December Foreclosure List

 

December 2016 Attached Foreclosures $0 - $250K
December 2016 Attached Foreclosures $250K - $500K
December 2016 Attached Foreclosures $500K - $1,000,000
December 2016 Commercial Foreclosures
December 2016 Detached $0 - $500K
December 2016 Detached $1,000,000 plus
December 2016 Detached $500K - $1,000,000

Here it is - the ever popular Foreclosure List from December

Buying a foreclosure property is different than other home purchases. So if you decide to do this make sure you have a realtor who is familiar with the process. I can, of course, refer you to realtors who are well versed in this type of transaction.

There's a lot less competition for these properties in winter so there a much better chance of getting a decent property since there's less bidders. As January is the lowest home sale prices month of the Year, opportunity can knock, at the right price. Just make sure your financing is in place, subject to finance is a no no in foreclosures.



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