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Category Archives: REAL ESTATE INVESTORS
Reporting losses from Rental business? These are the dangers…
There are many dangers of reporting losses from the rental business… I’ll explain with this story. A couple of years back, I advised a real estate investor not to take the entire apartment renovation as a one-time deduction. The renovation was done in between tenancies. He didn’t put much improvement except giving the unit a […]
6 Simple ways a Canadian Real Estate Investor can create Freedom
As a Canadian real estate investor, whether you own your businesses or have a rental portfolio, systems and processes are the keys. I had a rare and candid business conversation with my dad and Erwin one night. He asked us about our numbers and how our businesses are structured. He was fascinated that we could […]
How to Pay Less Tax as an Airbnb owner
It was a lot of fun doing a presentation on Airbnb. I spent half a day doing my own research confirming the HST impact on the sale of Airbnb and how Airbnb owners can pay less tax. Most importantly, I enjoyed doing the research and learning something new. The host of the event, Davelle Morrison, […]
GROW REAL ESTATE PORTFOLIO AND GET ASSET PROTECTION WITHOUT LOSING SLEEP AT NIGHT
Many real estate investors invest for the reason of providing a legacy to the next generation. They want to use the money they earn to finance their children’s education. They want financial freedom. They want to retire early. If there’s money left over, they may even want to help their kids to buy their homes. […]
DO YOU RECOGNIZE THESE SIX TAX CHANGES FOR 2018?
Have you ever heard of the term Fear of missing out (aka FOMO)? FOMO is part of the reason why most of us are so addicted to social media. We’re worried that we’re missing out something, which for the most part, is nothing. This is especially serious when it comes down to parenting. Kids don’t […]
Canadian Real Estate Investors Vs. 2019 Federal Budget
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 […]