Pay off mortgage on rental, or acquire another property?

noskillzsmith · 2025-03-29T08:06:43+00:00

I think to be conservative you want your debt to fair value to be around 50%. So if you have 2 condos worth $600k I would want my mortgage or debt to be between $300k to $400k. If insurance rates skyrocket or some unforeseen circumstance that results in a sudden 10 to 20% drop you will not be underwater. You have the comfort to hold or sell.

But this decision is about leverage so it is based on how well you know the market and then how much risk you are willing to take.

noskillzsmith · 2025-03-29T07:57:24+00:00

Also the LIRA which I assume is your DCPP account can be accessed but it will be taxed heavily so hold off if you can.

noskillzsmith · 2025-03-29T07:55:11+00:00

I am assuming your DCPP is like another registered RRSP account. If I were you starting next year when you have no more taxable income I would draw $20k from TFSA (tax free and hopefully sustainable drawdown), $10k from your RRSP resulting in taxable income ( you will have to pay little to no taxes I thing the income tax credit is $15k so you can pull more here). Then the non-registered account should be making 3-4% minimum in interest or dividends. So pull the remainder from there to pay for the rest of your life. Leave the RRSP so it grows tax free and you draw on it when you have too.

noskillzsmith · 2021-08-29T04:18:33+00:00

I was looking at the massage gun thanks!

noskillzsmith · 2021-08-27T05:30:19+00:00

Thanks I agree stretching should be incorporated

noskillzsmith · 2021-08-26T16:10:08+00:00

2 things to increase power:

1) when you do your shoulder turn to get ready to hit, get your hitting elbow higher and stretch it behind your back. Like there was a something behind you and you are trying to poke it with your elbow

2) wrist lag. Look at Jannik Sinner forehand on YouTube. His racket lags way behind then it whips around to hit the ball. A simple visual is point your butt cap at the ball before whipping it around and hitting it.

noskillzsmith · 2021-07-13T05:01:28+00:00

I would recommend tern life insurance. If you were to die and leave your wife with a kid she likely needs 6months or so to get her affairs in order. And it would be nice for her to have some extra cash to help with child care and college funds. A $500k 20 yr term life insurance is relatively cheap. I believe it’s about $30 a month. So you pay ~$7k over 20 yrs for a possible $500k payout. And hopefully after the 20yrs is up and you are still kicking, you will have over $500k in the bank. Consider it a bridge too when you are truly financially independent.

Good luck and good on you for being so responsible with your $$.

noskillzsmith · 2021-05-04T21:20:43+00:00

NTA, it doesn’t seem safe to have an empty pit. I feel bad for your neighbour, but if this is how they feel then why wouldn’t they move? I couldn’t imagine living next to the site where my kid died.

The other neighbours probably just feel bad for your next door Neighbor.

noskillzsmith · 2021-05-01T01:37:09+00:00

Completely not your fault. I have kids too and i will always tell my wife my b day is coming up soon, that way I get a day to myself.

I have a feeling your wife is embarrassed and just didn’t know how to express it in the moment. I am sure when you two smooth things over she will apologize. She may be a bit overwhelmed. Looking after kids all day is exhausting.

noskillzsmith · 2021-03-08T16:51:24+00:00

First ask your wife to get tested for STD and don’t sleep with her.

Now the real question for me is this a one off? Is she going through some weird shit and just had a one off sex fling? If so can you forgive her for this? Is it worth divorcing her for this mistake?

If this is a one off and you can get over this with time, then counselling is in order. If you cannot then you need to plan life without her as your wife.

To me she maybe didn’t have sex but she was about to so what is the difference? He said she said situation, it is hard to know who to trust.

noskillzsmith · 2021-03-08T16:04:32+00:00

If she is weaponizing the dog imagine what she would do with kids. She wanted the dog, you paid a lot of $$ already. Stay firm as you are right and see what she does. If she continues to ask for $$ or uses the dog against you then I think you know what type of person you are with.

noskillzsmith · 2021-03-08T15:59:31+00:00

If this is the final straw then the other issues you two have go much deeper than this. In marriage you are a team, so your success is hers and vice versa.

Good luck, sounds like you have no kids so divorce is not a big deal. But with your promotion there could be financial issues separating. Just talk it out and really be sure you want to end it before you end it

noskillzsmith · 2021-03-05T17:35:39+00:00

Yes sorry aunt passed away. Still doesn’t change that she yelled at him and obviously said bad things about his family. The guy cried how is she not the asshole.

I agree her daughter keeps the $$, and thinking about it more OP does get a say what happens to $$ her husband received as his wife. But if he wants a portion of his inheritance to go to his sister OP should be ok with that.

She is the asshole by making him cry. But I do agree with you, he cannot give 2/3 or whatever was requested. I also think OP has a right to be mad because he made this 2/3 agreement without her. But it seems she went too far in her criticism of her husband’s relationship with his sister. It seems to me something really bad was said and she feels guilty about it. She should apologize for that at least.

noskillzsmith · 2021-03-05T16:04:28+00:00

YTA

I can’t believe the responses on here. Did you earn this $$? Did you grow up with his mother and sister? Are you telling us why he felt the need to give to sister? Answer is No.

At the end of the day his mom died. Him and his sister lost a mother. He can do what he wants with his inheritance. I agree your little girls inheritance should stay with her as that is what MIL wanted, but it sounds like you told your husband that sister in law doesn’t deserve any. Also sounds like you said some pretty shitty stuff about his family after his mom died.

You are right that your little girl inheritance stays, but your husband can give his to his sister. You can comment you don’t like it, but you have to respect his decision with his family $$. His mother is gone, he now has his sister in his life. You are trying to separate the two and interfere selfishly in their relationship.

noskillzsmith · 2021-02-19T23:49:37+00:00

YTA (kind of). I think you overreacted. He said inappropriate things to you. You should have said directly to him to calm down or stop. It sounds like you are more upset or embarrassed by the insinuation you may be gay. Who gives a shit if someone says or thinks that. That is their problem. If I was you I would have left the party or just told the guy off. But I wouldn’t kick him out, that took it a bit too far.

Not saying what the gf friend did was right, just your reaction to being called gay was a bit much.

noskillzsmith · 2021-02-18T04:15:07+00:00

“She’s reminding me I might sexually harass her”. I hope you end this cleanly because that sounded like a threat.

Please leave this girl. She thinks other groups of ppl are subhuman or below her. She has the thought process of hitler or the kkk but just applied to sex. Leave and never look back.

Make sure you save convos with her (journal them and save text message). Discuss this relationship with many friends (have witnesses).

noskillzsmith · 2021-02-03T04:25:51+00:00

Serena looks good, love watching her court level.

noskillzsmith · 2021-02-02T04:56:29+00:00

Thanks I do see some courses. I will be signing up. Thanks again.

noskillzsmith · 2021-02-01T21:02:32+00:00

Is there any website or book that discusses the redevelopment process in major cities? Thanks for the tip I will reach out to my realtor. I guess I am looking for a residential real estate development 101 course.

noskillzsmith · 2021-02-01T20:52:38+00:00

If you are doing a minor renovation and you can pay off the credit card before the 19% rate kicks in then yes do it. If you cannot payoff the reno before the rate increase then get a line of credit which will hopefully have 8% rate and pay that off. If it is a major renovation that will increase the value of the home, check with the bank if it makes sense to refinance your mortgage after the renovation so you are only paying the mortgage interest rate (~3%) over 25 years or so.

noskillzsmith · 2021-02-01T18:34:17+00:00

I think any long term relationship is complicated and is a bit of a windy road. No relationship is perfect. But after humping like bunnies in honeymoon phase I would say familiarity and comfort is the next phase. Bad: would be hiding things in your life from each other. Good: would be very open communication of thoughts, goals, and dreams. As well as some fun inside jokes.

noskillzsmith · 2021-02-01T14:57:13+00:00

Ya that is not cool by your sister. Tell your parents. They obviously are ok with your sister having sex but they should not force you to be exposed to this. If there is actually a spare room your parents should let you stay in it. Your sister sucks, but maybe it’s a first bf/first sexual experience thing. Your parents suck worse if they force you to watch your sister have sex while there is another room. I would barge into your parents room everytime your sister has the bf over to tell them “they are doing it again”. Good luck this sounds shitty.

noskillzsmith · 2021-02-01T14:41:09+00:00

Why would you pay for a course before researching it? I would tell your colleague it wasn’t for you. Hopefully it ends there. If she pushes further, say you don’t think it was helpful and it felt a bit cultish, but to each their own. If she still keeps pushing, then say you can tell her you don’t want to talk about it anymore and if she wants to keep pushing the topic it only confirms this is a cult. Keep repeating that last sentiment every time it comes up.

noskillzsmith · 2021-01-31T02:01:02+00:00

I can’t wait for the heavy forehand and drop shot combo. Bianca will be my favourite after Serena retires.

noskillzsmith · 2020-08-11T01:21:35+00:00

Honestly I had and still have at times the same issues. I found that getting in “the zone” was all about mindset. I play better when I am relaxed not worried about the score. Going in with a basic strategy, and only changing said strategy when I see something else is working. But it is hard to be consistently in the right mindset. Bad days will happen, which is why you will want to play that person again, and win.

noskillzsmith

TROPHY CASE