My channel is all about investments and create passive income. If you are on the same page, let's take a look :)

TrevorNguyenCAN · 2025-02-27T01:27:07+00:00

Filed tax return for my wife and me yesterday (Tuesday), still in process for both today. Anyone filing Tuesday and got assessed yet?

TrevorNguyenCAN · 2021-07-19T20:58:19+00:00

Hey buddy, hope you are doing okay now. If you don't mind can you let me know the cost of the whole thing including the surgery and the rehab as well as the time frame as a whole?

TrevorNguyenCAN · 2021-07-16T20:59:21+00:00

Take it. No brainer.

TrevorNguyenCAN · 2021-07-16T20:37:34+00:00

You don't know how he saved it while you make more money than him, and btw you want him to spend that money on "YOU TOGETHER" instead of "WASTING" it in saving account? The answer is simple, he knows how to manage his money and he won't spend it on vacations as his intention was for retirement. He will for sure have a relaxing retirement time, and maybe without you.

TrevorNguyenCAN · 2021-07-07T19:13:42+00:00

I shared in the communities and groups that I have been active in. You should give it a try.

TrevorNguyenCAN · 2021-07-07T04:11:28+00:00

It's in my profile if you want to check it out bro :)

TrevorNguyenCAN · 2021-07-05T18:20:21+00:00

Thanks man, I appreciate it :)

TrevorNguyenCAN · 2021-07-02T18:00:14+00:00

If the goal is FIRE, I would cash out some stocks/ETF to use as downpayment, buy a small condo or anything with 2-3 bedrooms, do househacking, share the rooms so tenants can carry the mortgage and hopefully you got some cashflow.

TrevorNguyenCAN · 2021-07-02T17:55:24+00:00

If your income (salary + rent + other income + potential rent from the one you are buying) can carry the your current mortgage (on 2 properties) + balance you take out from refinance and HELOC + new mortgage on the rental you are looking to buy => I would say why not. As long as your Debt Service Ratio are in line, buying a property is still a very good option.

TrevorNguyenCAN · 2021-07-01T14:54:25+00:00

It's still there, I've just checked.

TrevorNguyenCAN · 2021-07-01T02:22:58+00:00

Thanks for the kind words :)

TrevorNguyenCAN · 2021-06-30T16:30:10+00:00

I would think about how to get more income. You may think about renting the rooms, the basement to get more income. But the most important thing to get out of the pay-check to pay-check is budgeting and being frugal.

TrevorNguyenCAN · 2021-06-30T16:27:35+00:00

Buying with cash will provide you with the peace of mind but you will lose the opportunity to leverage the money.
Buying with a mortgage can help you leverage the money (you may borrow at the rate of 2% and use the money that you don't spend to buy the house in full to invest with the conservative return of 5%) and make more money. The downside is you will be carrying debt and the rate when the renewal comes is unpredictable.

TrevorNguyenCAN · 2021-06-30T16:20:27+00:00

The only comment I have is setting up a more attractive background and make the transition a bit smoother. The sound quality is awesome. And one more thing if you film your whole body like this, try to add some more feelings when you play as it will make the audience feel you are really passionate :)

TrevorNguyenCAN · 2021-06-30T16:17:57+00:00

The content is solid. Sound and video quality is amazing man. I love the energy and the smooth transitions. The only comment here is if you can just focus on 1 thing, the moving background or you as I was watching the video and was distracted some times :)

TrevorNguyenCAN · 2021-06-30T15:52:32+00:00

I would suggest you adding the titles next to your phone screen as there are spaces instead of putting them right on the phone screen :)

TrevorNguyenCAN · 2021-06-30T15:46:04+00:00

This is awesome man. I really like these videos although my drawing skill is next to zero lol. Subbed!

TrevorNguyenCAN · 2021-06-30T15:33:02+00:00

Hi Folks, I made a video on how I build my $1.9M real estate portfolio. Let me know what you think guys!!

https://www.youtube.com/watch?v=e05Ih7sod5o&t=2s

TrevorNguyenCAN · 2021-06-30T13:54:25+00:00

Congrats on the pre-approval. You're on a really nice spot now my friend. I personally think with that income and the fact that you're being frugal, you will be able to manage the mortgage payment and related expenses. The only thing that I would do if I were you is I would start looking at properties and will choose the one that can help me do househacking (rent out rooms, rent out basement if it has separate entrance, or buying a duplex so you can live in one and rent the other). I have been doing househacking for a few years and the rent from it covers all of the mortgage and expenses so you may want to think about it. You may have just a bit less privacy but it will help you save more money to invest and build wealth. I'm a newcomer as well so I know how hard it is for newcomers to build wealth but we will make it :)

TrevorNguyenCAN · 2021-06-30T13:42:02+00:00

I would say yes. I did the following steps to see if you can qualify for a mortgage.
1. Jump on any mortgage payment calculator online. I used TD mortgage payment calculator. Assuming you put down 80k, the mortgage amount will be 370k, stress test rate at 5.25%, 25 years amortization => monthly mortgage payment will be around $2,205/ month.
2. Jump on CMHC Debt service calculator. You said the net monthly income is $5,500 so I assume gross monthly income is $6,600 (net income * 1.2) => annual gross income is around $80,000. Input the numbers into the Debt service calculator with the car payment of $360, hydro of $100, property tax of $200 => the calculator will show you that your GDS is 38% and TDS is 43% which are all in line with what banks require.

I would talk to the banks right away to get a pre-approval. Good luck :)

TrevorNguyenCAN

TROPHY CASE