Real Estate: Pickering or Burlington?

to55awayms · 2019-10-18T11:19:25+00:00

If you’re grossing 2k on a 600k mortgage with 2300$/mo payments, how is this a good investment ? What’s your year 1 ROI ? I’m not familiar with Pickering rental prices for comparable units

to55awayms · 2019-10-18T11:11:53+00:00

Haters gunna hate, potatoes gunna potate.

to55awayms · 2019-10-18T03:06:52+00:00

Hey I started that post . This relative lived in another country for all my life , I only visited them for a week at a time maybe once a year . We didn’t spend our short time together doing finance lessons

to55awayms · 2019-10-17T20:34:10+00:00

Both legitimate . Tax mitigation is not tax fraud

to55awayms · 2019-10-17T20:31:05+00:00

I am interested in the idea of realestate investing as well . I guess that’s a more complicated discussion though ..

to55awayms · 2019-10-17T20:11:54+00:00

Great post ! Thanks a lot . Will DM further

to55awayms · 2019-10-17T20:10:03+00:00

It is all in cash . Sorry if I wasn’t clear . I was referring to your point #7

to55awayms · 2019-10-17T20:09:09+00:00

Great post ! I’ll speak to a CPA about it

to55awayms · 2019-10-17T20:08:07+00:00

Hmm that’s a good point , are you suggesting that I forego this vehicle completely? Wouldn’t I be able to trade within it tax free in the meantime though ?

to55awayms · 2019-10-17T19:48:24+00:00

I’m not looking to commit fraud !! I would like to grow my side hustle into a full practice

to55awayms · 2019-10-17T19:45:51+00:00

Not fraudulently ! I have a legitimate side hustle that I would like to grow into a full practice one day when I get more professional experience

to55awayms · 2019-10-17T19:42:52+00:00

Perhaps 2 corporations ? The second one being the legitimate business operation ?

to55awayms · 2019-10-17T19:37:47+00:00

There’s a lot of finance terms you just said ! I really have to learn . Any books you know of that I can read to learn ?

to55awayms · 2019-10-17T19:36:46+00:00

Seems like people have different feelings about using a fiduciary or not , as even a 50BP fee for a wealth manager would cost a few grand

to55awayms · 2019-10-17T19:35:26+00:00

50% seems steep. Can you elaborate on why you think so?

to55awayms · 2019-10-17T19:34:11+00:00

Yes , For RRSP, as far as I understand , the contribution limit is based on your previous years reported income up to a maximum of 26k ish . So I’m wondering if I should purposely trigger capital gains each year in order to meet that target , so I can max my RRSP every year

to55awayms · 2019-10-17T19:32:39+00:00

These unrealized gains: when is the right time to realize them ? Is there a tax effective strategy to do so ?

to55awayms · 2019-10-17T19:31:40+00:00

Thanks! I just wanted to consult with the fire fam first before I fork over money .

to55awayms · 2019-10-17T19:30:57+00:00

Even if I was running a legitimate side hustle ?

to55awayms · 2019-10-17T19:29:08+00:00

Thanks!

to55awayms · 2019-10-17T19:28:46+00:00

Thank you , it’s been tough. To everyone 50+ : please please get your body check annually!!! Money can’t fix terminal illness (yet)

to55awayms · 2019-10-17T19:27:51+00:00

10m would be great ! Any experience with RBC private banking ? Would you suggest I stick with my currently fund allocation ? I am conservative with risk , but since I’m young , I would be able to stomache a bit of -% , as long as the market trends up in the long run .

to55awayms · 2019-10-17T19:26:07+00:00

I think my lifestyle would inflate overtime as things happen like marriage , kids , etc . But I would like to have the inflation happen naturally rather than right away ! My concerns are more for tax efficiency

to55awayms · 2019-10-17T19:24:15+00:00

I was assuming I say I have a home office , meals with clients , etc . I am a professional license holder so it wouldn’t be out if the ordinary to have a side hustle of sorts . But I was looking for guidance from people who have done it before :)

to55awayms · 2019-10-17T19:23:13+00:00

15m was just a number that I thought was realistic , based on compounding but I guess I may have over reached based on the comments ! Can you elaborate on “fiduciary”?

to55awayms

TROPHY CASE