I’m frequently asked by people if some of these “real estate investing with no money down” seminars they hear advertised on the radio are a good way to get started into investing in Vancouver Real Estate. I will cut right to the point here … my advice is to save your time and money and avoid these get rich quick with no money down seminars. They simply do not work in a market like Vancouver.

As of Monday Oct 17 borrowers with LESS than 20% down payment are required to qualify at the Bank of Canada’s benchmark interest rate (which is currently 4.64%). It does not mean you will pay this higher rate, but rather you just have to demonstrate that you can qualify at this higher rate. Borrowers with 20% down payment or greater will not have to qualify in this manner until Nov. 30th. This is the latest measure to try and cool the Vancouver Real estate market. Only time will tell what kind of effect it will have on the market going forward. However, I am already seeing potential sellers who were looking to sell and move up the price ladder decide to stay put, for fear of not being able to buy back in at the new requirements.

Wanted to let my viewers know that I have a new book on the way. It will cover my 30 year journey buying and holding Vancouver Real estate and dividend paying stocks. How to build a passive income machine that will supercharge your results and allow you to retire on a never ending income stream for life. I have just signed a publishing and distribution deal and my book should be available in the early part of 2017.

I just sold this House at 14231 WESTMINSTER HIGHWAY, Richmond, BC East Richmond.View this recently sold House or see all my home sales

I just finished uploading this House for sale, 3383 28TH AVENUE, Vancouver West, BCCozy and well kept family home. 33' x 130' lot, 2568sf house sits in quiet neighbourhood of west Dunbar w/ beautiful line of trees. 4 bedrms upstairs. 1 bedrm and recreation room w/ full bath and separate entrance in basement for multiple purpose. South exposure front yard brings in lots of brightness. Best schl catchment incl. Lord Byng Secondary, Kitchener Elem, close to St. Georges & Crofton private schl. Easy transit to Downtown, USC, golf club and all amenities. Quick possession possible. A pleasure to show. OPEN HOUSE OCT 1st Saturday 2-4pm

Wanted to get a few things off my chest in this blog. First off, don’t fall for any of the headlines proclaiming Vancouver Real Estate prices are plummeting! There have been some price reductions on high-end detached homes priced over 3 million dollars, but of course very few people in Vancouver are a part of that market. For the other 99% of the market, which is condos and townhouse prices under 1.2 million, there has not been any noticeable reduction in prices. They may very well be on the way if inventory levels creep up later this Fall and Winter but for now prices are holding firm. I wanted to also address why Vancouver is still in the stone ages by not allowing Uber. As well as several new reports including one by the Fraser In ...