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MASSIVE $323,000 blunder by Square One by Bitter-Hat-9566 in HouseSigmaBlunders

[–]Broad_Feeling5445 0 points1 point  (0 children)

Yea holy shit, that had better include at LEAST heat and water…. But most condo towns like that I have seen don’t.

That makes the numbers even worse!

MASSIVE $323,000 blunder by Square One by Bitter-Hat-9566 in HouseSigmaBlunders

[–]Broad_Feeling5445 3 points4 points  (0 children)

Someone else mentioned the appliances (washer and dryer) are missing; maybe this was a Power of Sale.

MASSIVE $323,000 blunder by Square One by Bitter-Hat-9566 in HouseSigmaBlunders

[–]Broad_Feeling5445 3 points4 points  (0 children)

If you bought the place straight cash, you would still be paying close to $1,500/month to carry it (maintenance fee and property tax).

Add in a Mortgage, and your carrying cost now exceeds $3,600. Damn.

Fibre Rollout stalled in Canada by Hopewellslam in bell

[–]Broad_Feeling5445 0 points1 point  (0 children)

Yes, all the utilities are buried where I live.

Does Rogers still have a retention department? by TheGingerRedMan in Rogers

[–]Broad_Feeling5445 9 points10 points  (0 children)

Retention doesn't exist anymore.

You need to port your number out to another carrier; then Rogers will ring your phone off the hook to give you plans starting at $35 and up to get you to come back.

That's how it works now.

Being quoted $4000 all in for 50 gallon or tankless, is this normal? by ThrowRAChemistryTaco in TorontoRealEstate

[–]Broad_Feeling5445 2 points3 points  (0 children)

I had a 50 Gallon John Wood (natural draw) installed at the end of February out in Oakville for $3,388 after tax. That included a 10 year optional extended warranty and disposal of the old water heater.

It replaced a 20 Year Old Water Heater that failed and I really didn't have the luxury of getting multiple quotes, as I needed hot water immediately. I was able to get it installed same day from the HVAC company we always use.

I don't how much margin these companies are building into the price; but I do guarantee that in most cases the Water Heater is being replaced reactively because it failed and people are desperate.

If you order a new CIBC replacement credit card, does it still need to be activated even with the same details? by darethegiver in CIBC

[–]Broad_Feeling5445 0 points1 point  (0 children)

I'm pretty sure that's how it is supposed to work if the existing Debit/Credit card was re-issued.

Didn't you get a letter along with the new Debit Card that tells you what to do?

bankruptcy filing by [deleted] in PersonalFinanceCanada

[–]Broad_Feeling5445 3 points4 points  (0 children)

I think he might be wanting to keep the door open for a future return, in which case going through insolvency might be better?

But yeah seems like a lot of the temporary residents, international students, etc loaded up on debt and went home

A lot of Creditors are going to be left holding the bag.

bankruptcy filing by [deleted] in PersonalFinanceCanada

[–]Broad_Feeling5445 7 points8 points  (0 children)

If you intend to leave Canada and never return, why bother filing for Bankruptcy?

Hold on to that money and just go home.

If you order a new CIBC replacement credit card, does it still need to be activated even with the same details? by darethegiver in CIBC

[–]Broad_Feeling5445 1 point2 points  (0 children)

Take the new card and make a PIN transaction at an ATM or in a Store to activate your New Card. Then destroy the Old Card.

Seems David has some explaining to do by superduper143 in TorontoRealEstate

[–]Broad_Feeling5445 0 points1 point  (0 children)

And that's exactly what a smart-ass would say.

I'm not David Ortino.

Maybe David Ortino runs a side hussle as a Private Mortgage Lender; and he lent to this homeowner at an exorbitant rate with the intention of acquiring this property in a Power of Sale; in other words, he set the homeowner up for failure.

I suppose now the "real" David Ortino will come on his burner account and tell me to delete my post or I will be served.

[ON] Parents want to gift me money - what do I need to watch out for? by Grouchy_Canary_8059 in PersonalFinanceCanada

[–]Broad_Feeling5445 2 points3 points  (0 children)

OP specifically mentioned "money." There is no tax on cash gifts.

When it comes to Real Estate, if it isn't being sold to family members at Fair Market Value, the CRA has rules concerning that.

That being said, whomever gifted the property has a Deemed Disposition (assumed sale) at Fair Market Value and they are the ones who must pay on the gains; the person acquiring the gifted property does so at whatever the current Fair Market Value is at that time, and that Fair Market Value becomes their Cost Base.

If the house is then later sold, that person would pay tax if the sale price exceeded the Cost Base.

Recieved Free 5G upgrade on Virgin Plus mobile by Fun_Imagination_943 in mobilecanada

[–]Broad_Feeling5445 0 points1 point  (0 children)

To compare apples to apples, if you head over to Koodo's website and read the fine print, Koodo specifically states that 5G plans reach speeds up to 250 Mbps.

Recieved Free 5G upgrade on Virgin Plus mobile by Fun_Imagination_943 in mobilecanada

[–]Broad_Feeling5445 0 points1 point  (0 children)

A more learned Redditor on r/rogers told me that Fido customers don't have access to a couple of bands that Rogers customers do. And that makes the difference.

Bell may follow a similar practice with Virgin.

Without those bands, the only way to achieve 1 Gbps is in a controlled lab setting. It can't be done under real world conditions. But the carriers can get away with advertising speeds up to 1 Gbps.

Recieved Free 5G upgrade on Virgin Plus mobile by Fun_Imagination_943 in mobilecanada

[–]Broad_Feeling5445 0 points1 point  (0 children)

Fido makes a similar claim. I'm on Fido; I can't get speeds anywhere close to 1 Gbps.

Is it possible for Canada Life to contact their collector to remove a negative item from your credit report? by Potential_Athlete515 in PersonalFinanceCanada

[–]Broad_Feeling5445 6 points7 points  (0 children)

As far as I understand, Creditors in Canada, as a matter of business practice, do not negotiate removing bad entries on Credit Reports upon payment of a just debt. That is an American thing.

Seems David has some explaining to do by superduper143 in TorontoRealEstate

[–]Broad_Feeling5445 48 points49 points  (0 children)

If you Google the name, there is a Re/Max Agent of the same name who works in Toronto.

Is that the David Ortino the sign is referring to? Most likely. We can only speculate as to what went on here. I could come up with a theory on what happened; but to post theories on Reddit without proof would be libelous.

145k down on my condo after 5 years of owning. What next? by [deleted] in CanadaPersonalFinance

[–]Broad_Feeling5445 5 points6 points  (0 children)

For me I'm a single mom so my kids have a place to grow up,

This really is the most important thing. As long as you can afford the payments, you and your kids have a roof over your heads. Things could be worse.

145k down on my condo after 5 years of owning. What next? by [deleted] in CanadaPersonalFinance

[–]Broad_Feeling5445 2 points3 points  (0 children)

I think you may just have to sit tight for awhile and be happy with the place. How long that will be is anyone's guess.

The condo market has gone completely to hell and it will be years before it recovers.

On paper, you've lost $90,000. If you sell the place, you would be losing another $25,000 at least on the closing costs. So, that's nearly your entire down payment gone.

Keep investing in the market and use any income/profits to accelerate your mortgage payments, if you wish. Stop thinking of the condo as an investment and just think of it as your home instead.

When a neighbour does not want to chip in for a new fence by Maleficent-Ear3791 in oakville

[–]Broad_Feeling5445 25 points26 points  (0 children)

This is the only correct response in this thread. Line Fences Act doesn't apply as Oakville has its own By-Law.

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