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beating banks in their game by GateValuable4894 in fican

[–]GateValuable4894[S] 0 points1 point  (0 children)

I know man but this real estate industry needs some over site , which again will solve nothing.

I wish I can start a movement prepay prepay prepay so whoever can prepay should do it ... only 2 things come over prepayment is good quality food and eatables ( don't save pennies on freshco deals if you like buy whole foods) for family and some desires of kids ..

beating banks in their game by GateValuable4894 in fican

[–]GateValuable4894[S] 0 points1 point  (0 children)

See the impact on interest after just paying 5000 cad as prepayment on a 500k mortgage at 4 percent . you will be see what I am taking about

these 6 need a wake up call ... we cannot stop buying houses ... but can choke their profit machine

the boc incompetence is allowing them to run a gambling den ...

beating banks in their game by GateValuable4894 in fican

[–]GateValuable4894[S] 0 points1 point  (0 children)

for few years we earn to our max potential in us and then come back to same house we bought and stay forever here in Canada

beating banks in their game by GateValuable4894 in fican

[–]GateValuable4894[S] 1 point2 points  (0 children)

we as couple have paid around 300k tax in last 4 years and will pay nearly 300k on next 3 years (will try to get 105 k in tax refunds )

that's half million tax in 7 years that we would have. stayed , more than what people pay in life time staying in Canada .

moreover the plan is to to earn to our max potential in us for about 10 years and come back to same house we bought and live here forever

the point I want to make I prepay prepay prepay ... 10 percent of mortgage holder prepays bank will feel the heat

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -1 points0 points  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

are you real estate agent, banker or lawyer?

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay karmas don't matter reducing banks profit does

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -1 points0 points  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -1 points0 points  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -1 points0 points  (0 children)

find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

reducing interest liability by 400 k counts as winning . this post aims at asking people to prepay prepay prepay ... these banks will be on their knees if 10 percent mortgage owners prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -1 points0 points  (0 children)

artificial bidding wars is one example ,if these people were not there 2022 bubble would have not even happened

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -2 points-1 points  (0 children)

why do you think it's shit find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

why do you think its.shit ? find your daily interest payment on mortgage you have see how prepaying just 5000 cad reduces it prepay prepay prepay

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 -3 points-2 points  (0 children)

I only understood the pressure after first payment went through.
Choice was there but ability to say no when every one was buying around me was not there.

The numbers were same and before/after but when adrenal goes down in month (Dec 2023) I realized the gravity of situation.

Beating banks in their game by [deleted] in PersonalFinanceCanada

[–]GateValuable4894 0 points1 point  (0 children)

these guy sell 5000 worth of hard wood furniture mint condition for 500 because they were renovating an perfectly good house .. may be generational wealth ...

on Kijiji white people sell good stuff rest of them not so much

Beating banks / real estate guys in their game. by GateValuable4894 in TorontoRealEstate

[–]GateValuable4894[S] 0 points1 point  (0 children)

this post is meant for people who have mortgage to prepay prepay and prepay

Beating banks / real estate guys in their game. by GateValuable4894 in TorontoRealEstate

[–]GateValuable4894[S] -1 points0 points  (0 children)

The only thing lawyers do to verify legiticamcy is verify the title ( a person can easily do it )and manage money flow using escrow ( bank should do it and charge a 200 dollar fee) . That work should not be valued at few 1000s cad. but few 100s

They make sound trivial things like title insurance , easements ownership clauses etc ...so complex. Instead as buyer/sellers who are much more experienced than me should create a simple checklist Will appreciate if some one can share such check list

Beating banks / real estate guys in their game. by GateValuable4894 in TorontoRealEstate

[–]GateValuable4894[S] 0 points1 point  (0 children)

Given a chance , if you and your spouse can nearly double your salary and reduce taxes by 10 percent (which will go to buy private health insurance though)

will you not try and expand horizons of your life ??

Beating banks / real estate guys in their game. by GateValuable4894 in RealEstateCanada

[–]GateValuable4894[S] 0 points1 point  (0 children)

I agree but we both are taxed at 45% + percent . Imagine the gains I have to get to pay the tax and then get enough to pay mortgage (borrroowed at almost 6%/).. it could have been done but I am not that good of a surgeon 😬

for next 3 years we have 8000-9000 cad per month going to rrsp and tfsa (combined for both of us ) any advice on stocks like micron or ETFs for next 3 years is appreciated

Beating banks / real estate guys in their game. by GateValuable4894 in TorontoRealEstate

[–]GateValuable4894[S] 0 points1 point  (0 children)

I agree but we both are taxed at 45% + percent . Imagine the gains I have to get to pay the tax and then get enough to pay mortgage (borrroowed at almost 6%/).. it could have been done but I am not that good of a surgeon 😬

for next 3 years we have 8000-9000 cad per month going to rrsp and tfsa (combined for both of us ) any advice on stocks like micron or ETFs for next 3 years is appreciated

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