Wednesday, May 4, 2011
Recently, the Parent Advisory Committee (PAC) at the Jewish Community Centre (JCC) was tasked with raising $350,000 for development of a naturalized playground to serve ten different daycare and school programs at the JCC. We volunteered our time and then made a strategic financial donation to hire a professional facilitator, Debrah Coll, who took the PAC's efforts to a new level. This turned out to be a turning point - and as a result, a private donor stepped forward to sponsor the entire naturalized play space! Congratulations to the JCC and its sponsor (yet to be announced).
Whether you give your time or your money, you are probably making more of a difference than you think.
Want $1,000 towards your favourite charitable cause? For anyone who buys or sells through me and mentions this, I will gladly donate $1,000 towards the cause of their choice.
Wednesday, May 4, 2011
Is now a good time to buy a condo?
Now is a great time to look at investing in a condominium. While this is something you would expect a Realtor to say, allow me to explain why. Although the Vancouver single family market has boomed over the last year and half, the downtown condominium market has remained relatively stable (see graph below). I believe there is an opportunity here.
Mortgage lenders have tightened the reins, but with a 25% down payment, you can buy a property that will break even (and not trigger income taxes), or generate a small cash flow after paying property taxes, strata fees and monthly mortgage payments. An investment property is also a great tax write-off. Maintenance costs, including strata fees, and mortgage interest can be written off against your income.
Here are some tips for potential investors:
There are literally so many units to choose from that it is easy to get “analysis paralysis.” To avoid this, get your financing ready, establish your budget and work with an experienced Realtor. Then, take the leap. Otherwise, you may look back and realize that your biggest mistake was not doing anything at all.
Please give me a call if you would like more information on ‘the numbers’ or to view some potential investment properties.
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