Home > AM1320 radio real estate update > Shall we invest in today’s unstable global economy?

Shall we invest in today’s unstable global economy?

Dec 10, 2011

Shall we invest in today’s unstable global economy?

Please click Podcast listen to Cantonese interview

We know our pension is not going to get us through our retirement years. However, the unstable global economy environment worries us whether or if we should invest. Well, so many recent report came out from all over the world as well as our economists agree Canada is one of the safest place to invest in the world. I met an immigration lawyer recently & he is helping immigrants from all over the world like Egypt. We are having more & more rich people around the world wanting to come to Canada. I understand many of us believe Vancouver real estate is very unaffordable. However,if you have good planning & stop thinking of buying the “Perfect” property but just get your foot into the real estate door, there are many opportunity out there. The most important rules for investment is :

1) we buy what we can afford. If we can’t afford DT, Westside, Richmond, etc, then just have to accept that you need to consider further East areas

2) Be an investor not speculator. The reason why I love real estate is I am the President, CEO of my property. I can keep it as long as I can hold on to it.

3) plan ahead for the down payment. For eg: Burnaby apartment at 250k, rent approx. $1200 20% is $50000. 5 yrs term, 3.29%, 30 yr amortization, monthly pmt $872 + $200 strata fee + $131 ppty tax=$1203. Cost to buy is $53000. After 1 yr, $3992.41/$53000 gives u 7.5% ROI!

There are many property around $250k range, brand new development in the lower mainland but maybe in Fraser Valley but some in Richmond or New Westminster. If you don’t mind older building, you can stay find them in Burnaby.

If you are able to invest millions like those who does it in Westside, Richmond, etc. There are more choices than just buying resident detached house like multi family, shopping mall, warehouses, hotels, gas stations, storage

Knowledge means everything, following what your friends buy is not the right way to invest. What works for them doesn’t mean it works for you. I now have a consultation group called West Noble Real Estate Investment Consultant. 3 of us cover residential & commercial real estate with a combination of over 80 yrs of experience. If you not sure what is right for you or not, we’ll offer you our advice based on your situation to see if residential or commercial real estate is right for you. Feel free to contact me at 604-412-5860 or www.tinamak.com

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