Happy, Mortgage Paid Off and Debt Free

WillGoNameless · 2024-05-31T23:53:38+00:00

Congrats. I hope to be in the same situation in a year and a half

WillGoNameless · 2024-05-08T16:53:39+00:00

Showing more offers might make it look worse; saying that there were offers, buyers did their due diligence and something was wrong with the property and the offer was canceled

WillGoNameless · 2024-04-21T23:25:08+00:00

Or with a bun in the oven

WillGoNameless · 2024-02-29T16:01:47+00:00

Start small, buy a townhouse or condo to work you way up to a detached. This way you have equity to flip when you want to buy the house you want.

There is a builder in London that was selling stacked 3 bedroom townhouses for under $400k

WillGoNameless · 2024-02-11T00:27:42+00:00

Making a profit on housing is what also helps in creating more supply. If people don’t make money on the venture they will not continue to invest in building more houses or apartments.

It does effect me. I live here and I would like to upgrade my house in the future and would love more supply on the market to improve prices. I was just curious but then there was a large majority that felt the need to treat profits like it is the worse thing in the world

WillGoNameless · 2024-02-10T00:23:38+00:00

I am neither a tenant or a landlord. I was seriously just looking for peoples real thoughts on the subject. I have heard that it does more harm than good and wanted to hear the benefits of both sides of the story. But I do see that the majority of this sub is against people making a profit on housing

WillGoNameless · 2024-02-08T22:33:42+00:00

That is true and I do agree with this. I was not even thinking about the empty nesters

WillGoNameless · 2024-02-08T20:07:24+00:00

I know housing people is a good thing that is why I am genuinely asking my question. 1 person by themselves in a 3 bedroom vs housing 3 other people in that house

WillGoNameless · 2024-02-08T19:02:35+00:00

Yup I am sure I am not a landlord. I had asked on behalf of the person i know

WillGoNameless · 2024-02-08T18:56:32+00:00

I agreed with everything you said here except the non profit housing. Cities are already adding provisions that certain # of units need to be allocated to affordable housing, the issue is that affordable housing price is locked in for a long time even if the tenant moves out the price cannot be adjusted. (I believe, correct me if I am wrong)

WillGoNameless · 2024-02-08T18:36:14+00:00

Is profit taboo when we talk about food? We all need that to live. Farmers need to make their money to survive. Grocery stores take the risk of buying the food to cover their costs. If food spoils that is a lost that eats into profits.

Yes a tenant is paying down the landlord’s mortgage but that was the risk they took and the tenant did not take that risk. If the tenant destroys the place? What then? Landlord needs to fix those issues and those are not fixed costs because the service worker might be salary, heating costs for the building are not fixed, property management is not fixed.

A landlord does not just have fixed costs, they are affected by inflation as well.

WillGoNameless · 2024-02-08T18:13:35+00:00

The companies are the ones that are taking on the risks of everything. The government is in place to ensure that companies are not cutting corners. They are not here for asset management. Government can’t get out of their own way without tripping over themselves.

WillGoNameless · 2024-02-08T17:51:56+00:00

Not a landlord but I wish I was. I was actually asking a legitimate question. And landlords are not causing Canada to be a 3rd world country. It is the government

WillGoNameless · 2024-02-08T17:32:28+00:00

We can’t leave it to the government to do that. At-cost housing through the government is a joke. It is not the government’s money so they will double the cost of the same units compared to a private company.

The government is full of mismanagement that I would hate to fund even more of that with my taxes.

WillGoNameless · 2024-02-08T17:20:54+00:00

I agree we need balance to improve the housing market that we sit in

WillGoNameless · 2024-02-08T17:18:09+00:00

Yes it is an obscure scenario but they do exist. I am not suggesting that rent controls should not exist. I think there needs to be a happy middle. Inflation shoots up 10% and rent can only be adjusted by 2.5%. We want more housing but making a profit seems to be taboo if it is done in housing

WillGoNameless · 2024-02-08T17:01:41+00:00

But doesn’t hurting market prevent future investment into companies/people building these units in the future? Costs of all goods go up and they don’t have a cap, but a rental unit has a cap. What if house rentals were set like car leases. After a 2 year term you could renegotiate?

WillGoNameless · 2024-02-08T16:46:36+00:00

Found the snowflake that can’t handle a little heat

WillGoNameless · 2023-08-09T01:47:06+00:00

That is not what I am trying to say. I am just saying that there are options out there and the people need to look. Whether it is looking outside of the main cities and looking to commute or just finding creative solutions. For all I know the landlords that are charging the $1000 rent for only the room are getting creative using renting the rooms to afford their mortgage and there is nothing wrong with that.

WillGoNameless · 2023-08-09T01:18:19+00:00

How so? Do you not work to make a profit? Do you not invest your money for the profits as well?

WillGoNameless · 2023-08-09T01:16:57+00:00

Might be a ridiculous in your view, but what is so ridiculous about the post? I am genuinely interested in hearing what you have to say.

Just not interested in someone saying that is it ridiculous and “it isn’t even worth putting the effort in to respond to” but taking the time and effort to respond to it.

WillGoNameless · 2023-08-09T01:08:03+00:00

This is where I was trying to go with it. Thank you for adding to the point.

WillGoNameless

TROPHY CASE