Robert Klein Newsletter - December 2019/Edition 91

Robert Klein - Mortgage & Life Insurance Broker

robert@robertklein.ca
778 896 6732
http://www.robertklein.ca

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Foreclosure List

 

DEC 2019 - Abbotsford Attached
DEC 2019 - Abbotsford Detached
DEC 2019 - Bowen Island Detached
DEC 2019 - Burnaby Detached
DEC 2019 - Chilliwack Attached
DEC 2019 - Chilliwack Detached
DEC 2019 - Cloverdale Attached
DEC 2019 - Coquitlam Attached
DEC 2019 - Coquitlam Detached
DEC 2019 - Land
DEC 2019 - Langley Attached
DEC 2019 - Langley Detached
DEC 2019 - Maple Ridge Attached
DEC 2019 - Maple Ridge Detached
DEC 2019 - Mission Detached
DEC 2019 - Multi-Family
DEC 2019 - Nanaimo Attached
DEC 2019 - New Westminster Attached
DEC 2019 - New Westminster Detached
DEC 2019 - North Vancouver Attached
DEC 2019 - North Vancouver Detached
DEC 2019 - Port Coquitlam Detached
DEC 2019 - Richmond Attached
DEC 2019 - Richmond Detached
DEC 2019 - S. Surrey White Rock Detached
DEC 2019 - Sunshine Coast Detached
DEC 2019 - Surrey Attached
DEC 2019 - Surrey Detached
DEC 2019 - Tsawwassen Attached
DEC 2019 - Tsawwassen Detached
DEC 2019 - Vancouver Attached
DEC 2019 - Vancouver Detached
DEC 2019 - West Vancouver Detached
DEC 2019 - Whistler Attached

Check out this month's foreclosure list!



How to Make $1,000,000 Dollars in Commercial Property

 

How to Qualify for Millions Worth of Mortgages in Canada

Let's assume a cap rate of 5%.

Value = Net Operating Income / Cap Rate

$1,000,000 = NOI / 5%

NOI = $1,000,000 x 5%

NOI = $50,000

Increase a property net operating income by $50,000 dollars, the value of your property just went up $1,000,000.  

If this is a foreign language to you, watch the video above.  The second half goes into the math of commercial. 

Residential Real Estate is not the same as Commercial Real Estate



2019 Tax Planning for Mortgages

 

The way you structure how much you pay yourself from your corporation will dictate how much residential and how much commercial property you can buy.  

If you plan correctly, you win. 

If you do no plan, you will either win or you will lose. 

1 month ago I bought a property that I did not plan on buying last February when I did my taxes.  

How many banks would lend to me at A rates? 

1 Lender. 

I was lucky.  I found a 1 off lender that would do it.  

If I knew I was going to buy this property last February, I would have structured myself accordingly. 



Santa Time!

 

Little Rob and Sarah were really excited to see Santa.  Every time we saw him on youtube/netflix, both would freak out.

You would think the excitement would continue when we saw him in person.  Wrong, excitement turned into silence.  

The only people who were still excited were myself and Dandan!



Cuddle Buddies

 



Strata Condo Insurance Complex Up 500% in Ft. McMurray

 

A week ago I came across a post by a young family losing their home in Fort McMurray.  I assumed missing mortgage payments would be the cause.  

It turns out it was about the increase of their insurance premiums on their strata complex.  It went up 500%, from $142,000/year to $800,000/year for 156 units.  That's $5128/unit.  

This is a direct result of the after-effects of the fire in Ft. McMurray.  Insurance companies don't want to insure in that area. The one that does, wants a fortune for it.  Alberta Government requires insurance coverage on all Stratas. 

Perfect Storm.

Here is the news article:
https://www.cbc.ca/news/canada/edmonton/fort-mcmurray-bankruptcy-condo-insurance-1.5393448?fbclid=IwAR0wwlK3kiKLqyaYukxK7kjdfcV-IprKIWVaJYvI6HMwWZ6Ll6-huJ5iS-8

Here is the Facebook post:
https://m.facebook.com/story.php?story_fbid=10156362826332587&id=505462586



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