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Category Archives: REAL ESTATE CORPORATIONS
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 […]
TAX MAN DOESN’T WANT YOU TO READ THIS COURT CASE
Recently, I saw a headline, “Condo flippers beware: The taxman is watching you, and has new tools at his disposal to ‘take action’” on Financial Post. It’s an interesting case as the court sided with the taxpayer’s position. Before I go into the nitty-gritty of the case, let’s revisit the basic tax concept. When you […]
‘Buy Renovate Refinance Rent’ (BRRR) – how to make 1.5M in 2 years
Recently Erwin and I got to take a tour of our friend Monica’s commercial plaza nearby at Bracebridge. If you are familiar with the real estate investment strategy BRRR (Buy Renovate Refinance Rent), that is what she and her husband are doing in this property. She’s had this property for over 2 years now. The property […]
5 REASONS WHY MY AIRBNB DOESN’T GENERATE AS MUCH INCOME AS OTHERS
Airbnb is a great way to earn extra money. It has become some of my clients’ side hustle. A few of my clients become full-time Airbnb operators. We’ve heard how great Airbnb is and I’ve seen some crazy numbers. One of our properties was vacant at the time. Erwin wanted to give it a try. […]
WHY INCORPORATE WHEN YOU CAN INVEST IN RRSP?
You may have already known, I am an accountant. This means that I have to look at numbers all the time. I have always been equipped with two monitors, one from my laptop and one extra monitor. Recently I had the opportunity to upgrade my monitor. I selected the 32” curved monitor from Samsung, a […]