I continue to see people including our Premier Mr. Eby and several financial publications not knowing the difference in the characteristics of an investor vs that of speculator. Watch and I will explain the difference.
I continue to see people including our Premier Mr. Eby and several financial publications not knowing the difference in the characteristics of an investor vs that of speculator. Watch and I will explain the difference.
I often see people who want to buy their first home and an investment property in a short period of time. Here is my advice to them and the steps for financial success that I recommend they take.
Happy Saturday. Hope you enjoy this video on the steps to financial success and how there’s never a better time to start than today.
Time for another update on the current rental market in Downtown Vancouver. Also it’s now official the NDP has removed all rental restrictions on BC condos as well as age restrictions.
Just built and pre-sale luxury condos in Downtown Vancouver are a difficult sale right now. Inventory is growing and prices are continuing to slide. Many of these buyers are going to be looking at substantial losses on these units when they finally do sell. The main culprit is the massive spike we have seen in borrowing costs. Many of these homes were bought with the expectation they could be flipped at a profit. In other situations the sellers' plans have changed and now need to sell. Some of these new strata have as many as 60 listings and the developers still have units for sale as well. Some sellers are doing large reductions in hopes of cutting in front of the competing units to get them sold.
Creating wealth and financial security takes time and there are no shortcuts. The power of compounding will take you there but you're not going to notice much in the early years. Just let your investments run and keep compounding or as Warren Buffett calls it "The Snowball".