Hi,steaky said:Also if you buy property and before the transaction is completed, you can also consider sell the property by assignments to get a quick profit (capital gain).
1) What documentation are you talking about? ???Hasan9999 said:Hi,
How do you forward sale while documentation is pending! What is assignment?
Thanks for your feedback!steaky said:1) What documentation are you talking about? ???
2) An assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the buyer’s rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property (that is, where they take possession of the property). The assignee is the one who ultimately completes the deal with the seller.
In other words, an assignment clause allows the buyer of a home to sell the place before they take possession of it.
You need answers of your questions! I think in Canada, investment in real estate is still good with less possibility of incurring loss. As rate of interest is still low, cost of financing remained all time low.paolo1967 said:This is good topic to discuss. If we are speaking about return from real estate rentals, I have the following inquires in order to have brain storming and all to get benefit from different location and thoughts :
1- what is the expected rate of return after tax/ maintenance / others… ?
2- what kind of real estate Residential vs Commercial ?
3- Where is the location..?
4- How much is the expected capital gain?
You are welcome to add new questions
For property, do you pass the mortgage stress test?Hi Folks,
I'm a new comer, almost 3 year's in Canada now. We are a family of four, 2 adults and 2 toddlers (boys). I'm working full time with an annual salary of $100K and my wife works part time now and bring home approx $30K but when she starts full time it will be around 100K. We bought a house and I have some savings now, almost 40K, where can I invest ?
Is it a good time to buy second home as an investment or better save more and wait for the bubble to burst ?
What are other available options other than RRSP, RESP and TFSA. I have $48K room for RRSP contribution now but i didn't open one yet. If you suggest me to open RRSP/RESP, whats the best banks and option to start with ?
Is it better to finish off my current mortgage fast (its my primary residence) . No rental income ?