Author Archives: Cherry Chan

As Canadian Real Estate Investors, there are two things you need to pay attention to about 2019’s Federal budget. Though, this year’s budget was a bit boring, compared to the last couple of years, here is the short and sweet summary of how this year’s budget could affect us: Spend, spend and spend ☹️ All […]

Real Estate Investors Best Back-office Practices – Part 1

Here’s the first half of the two-part series on the best practice Real estate investors can use to set up their back office to audit shield against CRA But before I get into this, here’s a side note. I saw this post a while ago on my FB feed. A friend of mine wanted to […]

Quit your 9-5 with just two Rental properties

It was Erwin’s birthday the past weekend. He just turned 40. His big 40th birthday reminded me that how young we were when we first met and how I quit my 9-5 and got into real estate investing in the first place. We went out with a bunch of friends to this place that we […]

5 Lessons learned from Canadian Real Estate Tax season

It’s the end of 2019 Canadian real estate tax season. This is also the end of my 16th tax season. I’ve learned a few things along these 16 years of doing taxes and hopefully, it helps you a bit too. 1. Tax planning is done ahead of time, not on April 29 One client of […]

Real Estate Investing: 5 Factors to Decide your Strategy

I am re-reading the legendary book Rich Dad Poor Dad now. This was the bible that got me started in real estate investing. The idea is that I would only find properties that would generate cash flow, and the cash flow is supposed to cover all my expenses, so I don’t have to worry about […]

Why Robert Kiyosaki said everyone needs to know Accounting to achieve Financial Freedom

I have met many real estate investors and real estate agents at various events. Many of them have expressed the frustration that they have over their accountants and bookkeepers for lack of advice on proper ways a real estate investor should do their accounting. Of course, this can be avoided by using a company that […]

WHY CHEAT ON TAX WHEN YOU CAN GET THE MONEY BACK LEGITIMATELY

It was such an exciting experience to finally speak on Realtor Quest’s stage on Thursday. I wouldn’t say that I was sharing a stage with Gary Vaynerchuk, but hey, my picture is on the same page as his on the promotional material! Of course, armed with my speaker badge, I was hoping to get a […]

HOW TO WRITE OFF 100% OF YOUR CAR AND SAVE $22,826 OF TAX IMMEDIATELY

A close friend of Erwin and I, Andy Tran of Suites Additions, stopped by last night to watch the game with us. He told me that he’s going to buy a zero-emission car so he could write off the entire vehicle expense and do not need to pay tax for the year. That sounds too […]

HOW TO TURN CASH BACK INCENTIVE INTO TAX-FREE MONEY

Did you all have a great long weekend? Canada Day long weekend is always special in our family. My wedding anniversary is on this weekend, while my son’s birthday is also close enough that we all get to celebrate everything all at the same time. As a thoughtful wife, I knew that my husband would […]

4 reasons I switched from Variable interest rate to a Fixed rate mortgage

If you don’t know already, the interest rate for a 4-year term mortgage was dropped to 2.95% for rental properties and 2.75% for a primary residence. I saw a few of these Facebook posts and I immediately reached out to my bank advisor. We had always opted for variable interest rate. Variable interest rate gives […]