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You Don’t Buy a Happy Meal for the Toy

March 4, 2010
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I had an awesome question via Twitter from Ben Arledge, a REIN member and web developer.

Thoughts on life/disability insurance on rental property?
To which I replied:

Not worth it, better do deal with a real insurance broker and get the right insurance. You don’t buy a happy meal for the toy.
His next question is the important one.

What’s [...]

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Peter Kinch on New CMHC Mortgage Rules

February 18, 2010

For those of you who caught yesterday’s changes to CMHC’s lending rules, here is Peter Kinch (Canada’s #1 Mortgage broker) weighing in on the topic. I agree with him, the changes are good window dressing, but will have very little impact on the market.

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The Right Mortgage For Me

January 31, 2010
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I’ve got a lot of friends who are buying their first homes right now. We go out for coffee and people are talking about how big they’re trying to make their down payment, or how quick they can manage to pay off their mortgage. That’s great, and I’m glad they’re being fiscally responsible.
I’m looking for [...]

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Do This Before You Unzip Your Pants

January 25, 2010
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Call everyone on your team.
Your real estate team.
Get your mind out of the gutter.
I’m in the middle of buying a new principle residence and almost made one of the most deadly, amateurish mistakes in the history of time: removing conditions without making sure they’ve actually been satisfied.
In my case I recently [...]

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Peter Kinch on Conflicting Rate Reports

June 8, 2009

Peter Kinch is a great mortgage broker, and I use one of his brokers. He’s also a frequent speaker on various radio and tv programs. Here’s a transcript from News 1130 last Friday (June 5th) between Peter Kinch and Russell Byth last Vancouver.
Russ:
The Bank of Canada is standing pat on rates keeping the Prime [...]

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Real Estate Education From Kindergarten to University

April 26, 2009

There’s a natural progression within Real Estate education, it’s a lot like school. I’m going to try and paint a picture of what I think this looks like for Canadian investors. I’m using the metaphor of school because it’s familiar to us all, but don’t think that it’s literal. For many investors there’s a 10-20 [...]

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6 Things You Should Do To Your Mortgage When Interest Rates Drop

April 21, 2009

The Bank of Canada just dropped the prime interest rate by 0.25% making it….0.25%. The federal banks quickly followed.
Here are the 6 things you should do right now.

Call your banker/mortgage broker and reduce your mortgage payments as close to interest-only as possible. Do not go into negative-amoritzation (i.e. where your loan gets bigger).
If you don’t [...]

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The Globe and Mail Drops the Ball on Subprime

March 14, 2009

Last night I was surfing through Twitter and one tweet caught my eye. Mostly it was because it was in ALL CAPS which annoys me to no end, but the word ‘canada’ made me mildly curious.

The title of the article is “Canada’s dirty subprime secret” and while I was considering a subscription before, this is [...]

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