Sorry i coupdnt hear Kayla's worstvpick due to sound quality
@KennethYimHomesКүн бұрын
Yeah, we will update this video soon! With better audio. I think she said Ice Condos, same as what Keyvan said.
@jrod72232 күн бұрын
Nice layout on the home. Explanations were amazing.
@sachinpatil99833 күн бұрын
Thank you so much for the video. This is helpful. My accountant submitted the application on April 26 and I haven't received a cheque yet. Is there a way we can track the application? And how long it takes CRA to process the application?
@KennethYimHomes3 күн бұрын
Did you submit it through snail mail? Or through the CRA website (personal or business)? If online, I believe there's a progress tracker. Or call them.
@sachinpatil99833 күн бұрын
@@KennethYimHomes The accountant submitted it via online CRA Portal. It's for personal. And she said, you can't track it online.
@tyc00n5 күн бұрын
you dont care because you are just clipping volume, only when volume dries up do you freak out 😄
@KennethYimHomes4 күн бұрын
Yes of course, last year the volume really dried up compared to the previous years. But thankfully our team is consistently in the top rankings because of a loyal repeat customer base, and people always need to move, so we have people to help. But volume has definitely slowed down.
@pascalxus5 күн бұрын
people who are against profits and investors do NOT understand how the world works. It's really sad that so many people fundamentally do not understand how anything works.
@FixMyBrokenJunk6 күн бұрын
It’s not the landlords doing it , it’s the banks and the government that people are mad at.
@kyungshim64836 күн бұрын
Since the biblical times tax collectors and landlords were always the most hated people. Fact of life. Don't bother listening to the haters. Let their delusions justify why they poor.
@amdo58737 күн бұрын
So funny watching this from Western Europe. How you are on awe about the tilting Window, thickness of the wall and 3 Tier window. Not saying that all houses have that here, but it is of a norm and we probably are taking it for granted. Love the house.
@KennethYimHomes7 күн бұрын
Our land is so expensive here, so everything is typically built so cheaply
@nikosolikos7 күн бұрын
And for the sake of actually helping you understand ill explain a bit.....Land and housing speculating should be illegal. You have turned a basic necessity into a commodity. Look around your city, how many homeless people do you see? You are spearheading an industry that has done more destruction than anything else in the past 20 years. If i had to just sum it up in one word GREED. Its destroyed you my guy. Argue all you want but just look around at the state of the economy. This is your sh!$ and you should be ashamed of what you have eaten.
@nikosolikos7 күн бұрын
The caller is right.
@albundy39296 күн бұрын
what is the incentive for people to risk their behind to build and or improve homes? wakeup.
@EllieM_Travels7 күн бұрын
Be fair and not greedy and no one will hate you. Similar as that.
@albundy39296 күн бұрын
who says where the fair line is set?
@JayWarshavsky8 күн бұрын
how about opening a business? i know its hard
@KennethYimHomes8 күн бұрын
I own two businesses already? How do you think I got the capital to be an investor?
@JayWarshavsky8 күн бұрын
@@KennethYimHomes there are million ways getting capital. why dont you talk about those instead of pricing out people out of the market. theres nothing sexy in producing cash without value to anyone. lets talk bout nvidia... yey we all made money.its not a great topic of discussion. its not smart or clever. its just turning 1 into 2...
@user-kv4kp4co1r8 күн бұрын
Mr. Yim, I hope you are enjoying the cool market activity and enjoying burning through your savings each month and enjoying $1000 to $2000 negative cashflow on your rental property each month. No worries more joy is on your way at renewal.
@KennethYimHomes8 күн бұрын
LOL thanks the house of cards comes crumbling down, oh no! ... by the way, that's per property.
@user-kv4kp4co1r8 күн бұрын
@@KennethYimHomes by the way, nice Tesla. Let me know if it comes up for sale next year.
@KennethYimHomes8 күн бұрын
@@user-kv4kp4co1r how could I let you know when you hide behind a keyboard? Don't worry, it's not for sale. Thankfully I have other sources of income, so beat it.
@mechanicalrev8 күн бұрын
@@user-kv4kp4co1r bud, quit wasting so much time and energy listening to his content. Go fishing or something geeze.
@user-kv4kp4co1r8 күн бұрын
@@mechanicalrev Who listens to his full video/s! I'm just here to comment.
@najanator8 күн бұрын
Bitcoin > Real Estate
@jordandowland72567 күн бұрын
People need homes they don’t NEED Bitcoin.
@najanator7 күн бұрын
@@jordandowland7256 exactly, people buying houses to make money off of is a crime of humanity Housing is a consumption good, not an investment. It's a basic human need. Houses are unaffordable for the vast majority, especially younger generations because of real estate investors bidding up the price. House prices need to fall to the utility value Bitcoin will drain the monetary premium of real estate In our lifetime. Not attacking real estate investors.. this phenomenon is a result of the incentives of Fiat money. Where the fruits of your labor, where you store your money in, the dollar, is constantly being debased so you are forced to speculate on something. And at the end of the day, real estate is trending to zero when you price it in Bitcoin. Bitcoin is the superior store value in the world compared to everything else.
@dissident1128 күн бұрын
It's all supply and demand. My only problem is how the central banks keep using quantitative easing to bail out the investor classes instead of letting them liquidate. I'd love to see the mother of all global margin calls from a collective central bank tightening that forces the investors to tighten. It wouldn't hurt to ban non citizens investing in your real estate. Nations spend money overseas to "export inflation" but then that money comes back through foreigners gobbling up real estate.
@KennethYimHomes4 күн бұрын
That already happened, but it’s a ban on non-residents not non-citizens. From the central bank side, their mandate is primarily on maintaining price stability, aka managing inflation. Not just in shelter, though it’s the largest weighting of the basket of goods, but everything else also. So QE isn’t only to bail out investors, it’s also to inflate away the national debt amongst other things. It just so happens that asset owners end up benefiting.
@Vin-pd7mh9 күн бұрын
Real estate is dead without zero % fed funds rate. Most recent investors don't realize that they will have a NEGATIVE cap rate for next 5-10 years. People are not buying because they don't QUALIFY at these prices/rates.... And now it is cheaper to rent than to buy. The number of new construction is insane. As a result Inventory is just exploding. It takes just a few foreclosure to bring down the comps in a sub devision Meanwhile Landlords keeping them empty are loosing their property to Squatters 😂 By the way you can just buy T-BILL and chill by getting 5% risk free.
@KennethYimHomes9 күн бұрын
This is US. In Canada, new construction has stalled because buyers aren’t buying, so banks won’t finance, so builders can’t build.
@KennethYimHomes9 күн бұрын
But yes I agree with you. No more negative real interest rates, so cap rates are going to have to inflate.
@user-kv4kp4co1r8 күн бұрын
I hope you are enjoying the cool market activity and enjoying burning through your savings each month and enjoying $1000 to $2000 negative cashflow on your rental property each month. No worries more joy is on your way at renewal.
@telmnstr9 күн бұрын
Renters should unionize, then do collective bargaining to the landlords. If one person doesn't pay then it's the tenants problem. If all renters agree not to pay then it's the landlord/banks problem.
@albundy39296 күн бұрын
silly
@Tom-zu1ss9 күн бұрын
Keep pumping out content. Don’t worry about the loser haters.
@KennethYimHomes9 күн бұрын
Thank you so much! It's good to hear the other perspective though, I want to hear their opinions to challenge my own thoughts.
@GarageGamere9 күн бұрын
It's understandable that people are frustrated when a lot of businessman don't understand sustainable business. The idea is to create wealth so that other people can then spend their money and trust you in the process so that all people will want to do business. If more people were focused on the long-term profits, we would not be here in this situation with housing.
@KennethYimHomes9 күн бұрын
The problem is that mortgages renew every 5 years, it's quite rare to get a 10 year term (and terms that match the 25-30 year amortizations like in the US don't exist here). So even if the businessman got a great rate on the first few terms, any future terms are subject to massive potential interest rate increases. Like the mortgage renewal wall that's coming up in the next 2-3 years.
@FelicitaIsichei13 күн бұрын
Nice apartment
@FelicitaIsichei13 күн бұрын
How many months is the rent for
@ruthgahlgren15 күн бұрын
ONTARIO LINE TRAIN
@ruthgahlgren15 күн бұрын
ONTARIO LINE TRAIN UNDERNEATH?????
@ruthgahlgren15 күн бұрын
ONTARIO LINE TRAIN UNDERNEATH????
@KennethYimHomes15 күн бұрын
It’s just north of it actually. Where the parking lot is now, on Distillery Lane.
@randomstuffman0116 күн бұрын
Thanks.
@mikeshogunlee18 күн бұрын
Why is rent outpacing inflation? Why aren't landlords competing against each other? Why do landlords let properties lay vacant rather then lower their rent?
@harrypatelnewzealand545121 күн бұрын
My friend live in Germany hamburg having 2bedrooms living nic house include ele internet 800 euro per month only. Federal Government control their housing and rents in Germany. House is so cheap here. People do not invest in housing, they mostly invest in produce and economy. Couple having medium jobs total making150k euro a month. They saved 300k in 4 years while having luxury life. And they bought house in Canada 450k back in 2017 and they lift the equity value by 1.65 million in 2022. They bought another house in Canada 1.1 million. And they just sold both houses in 2024. They made combine 2 million Canadian doller. How those idiots and uneducated Canadian peoples mostly dump migration run behind to buy house so desperatelly. Also we noticed that house they sold to indian and Chinese who doing truck driving and pizza store cheap jobs. They put 10 to 12people in house to meet mortgage payments. So poor life style. Canada have so poor reputation around world with poor life style. You guys must stopped to import cheap Indian and Chinese way back.. To late.. Lot of people made fortune out of your country. 1.7 million for rubbish house, really. World laughing on you guys.. 😂😂😂😂😂😂😂😂😂😂😂😂😂I 😂😂
@lucymonaghan23 күн бұрын
Shelter food and water are basic human needs thatunfortunately not everyone can afford. It's crazy to profit off such necessities and not have the government step in and cap these prices in order to live. Why can't the government offer affordable homes to families who need it. We don't need more landlords who won't fix essential things like my water heater or won't let us live in peace without coming to our rented space everyday unannounced sending contractors to do non essential work they make us pay extra for and call it gardening fees to laminate a driveway. They just don't prioritize and they don't sage guard families either as they should breaking so many different laws. I give my rental place 6 more months before I make a legal claim to end my lease early. Landlords like this are leeches who only want money to give to their children without them working hard for it. Silver spoon children I call it / breeding privledge and because they come from old money, they won't have the cash to fix whay needs to be fixed.
@KennethYimHomes22 күн бұрын
Sorry that you have a bad landlord. Try to think of it in a different light. The government is terrible at building homes, they're hugely inefficient and wasteful. If they did build homes, they'd spend so much money doing it, and it has to come from somewhere. Unless people came to work for free and/or donated materials for free, the only way housing would be built is if you paid people and paid to buy materials. No one would work for free because they need jobs to buy food to feed their families. In other words, profit is not evil, it's what's used to incentivize people to come to work. Otherwise no one would do it. Now bad landlords gouging you is a different story. But how do you know they are bad? How do you know that they are not under water on their expenses, which include utilities, taxes, interest expense, all that stuff that keep the building running? Have you ever thought about what it takes to operate a building? If it's a landlord that owns it free and clear and they're just being greedy, then they're evil. If it's a pension fund or a REIT that owns the building, then they are profit driven because they must produce a return for their investors, which could very well be every day people counting on retiring with their pensions. If you're lucky enough to be in Ontario, then you will have tenant protection laws. I encourage you to read up on the Residential Tenancies Act and know your rights. There's free legal advice from some volunteer organization or legal aid that could likely help you. Good luck with your situation. There's always two sides to a coin.
@lucymonaghan22 күн бұрын
@KennethYimHomes how can we trust lanlords are even building these homes safely. I can't say my landlord even built this property properly using, Mexican immigrants who are barely licienced to do anything which then voids the warranty on many things like our water heater currently as they never got the store they ordered it from to install it properly. There's no hope in hell it can get replaced as the whole installation is faulty and missing components. They also never finished with construction before they planned to rent the property which is a breach of our privacy coming around everyday without warning to carry out work that should have been done before we signed the rental agreement. This is greed. It breaches living in peace and quiet sanctions in California.
@lucymonaghan22 күн бұрын
@KennethYimHomes there has to be a limit though on profiting off someone else's suffering a basic human need. Many people are skipping meals to pay for their rent how is this not evil.
@booeylopa24 күн бұрын
Hello, we purchased a condo as a corporation and it's currently rented out. I did some research online, it says that corporations are not eligible to claim new housing rebate. As for new residential rental property rebate, there is not much information. Do you know if condo held by a condo is eligible for this rebate? Thanks!
@KennethYimHomes24 күн бұрын
Absolutely wrong. I’ve gotten the rebate for condos owned in several corporations that I’ve owned. The caveat is that the corporation must have been the first purchaser for the condo though, so you would have had to assign the condo from your name to the corporation (or have added it as a purchaser along the preconstruction phase). Talk to your lawyer for more details.
@adamnarbeaux589825 күн бұрын
Excellent Ken, excellent. I’m Closing on 2 Nobu units in august. Need to put 40% down to cash flow even.
@iamzuckerburger26 күн бұрын
I jumped
@winchangkou26 күн бұрын
Flee flee flee to the south
@GsunnyGGamer27 күн бұрын
They also fake their mortgage papers. The feds know all about it but don't want to crash the hosing market. The system is rigged for honest first time buyers
@basiliobastardo25528 күн бұрын
1:35 magic....A passive definition on a new level
@wumble7829Ай бұрын
I remember 50% of investors were cash flow negative prior to 2020. The question is there correlated evidence to show that they have been selling in numbers? Because for the most part despite the small correction we've seen, the market is still filled with investors, so they are somehow coping with the higher deficit they have.
@KennethYimHomesАй бұрын
Not sure if anyone has that data, but from April 2024 vs April 2023, Toronto condos have +61% more new listings as compared to all the other housing types in Toronto at +41% (Toronto detached +39%). The growth of new listings in Toronto condos is much higher than the other segments, and a large percentage of condos are investor owned. FYI the stat of cash flow negative investors are for new completions only, I don’t believe the study was for all investors. This was from Urbanation.
@ghettosamoАй бұрын
would you say 2026 is when you would really see supply shortage?
@KennethYimHomesАй бұрын
I would think a little later, closer to 2027+, based on the rate hike timeline that started in 2022-2023. It takes about 4-5 years to get a project sold and built.
@Wildbore48Ай бұрын
There are some logic fails here, and seem to be forgetting history of other bubble pops. Rents are tied to income, so rent revenue growth will be restricted even if immigration policies stay dumb, which will cap unit prices to an extent as nobody wants to buy a unit that isn’t cash flowing, Once the recession and unemployment comes, prices will take a big hit too. And pretty sure when you get rid of the dingbats in Ottawa wrecking our country high immigration, inflationary debt and deficits and anti development policies, we can have an economy more diverse and less dependent on unproductive real estate speculation. Real estate will be a good investment, but this guy is putting it on a pedestal when it will likely struggle in Canada for a decade like the 90s as deleveraging occurs.
@KennethYimHomesАй бұрын
I hope we don't have another lost decade in real estate, you know the central bank will probably drop rates in response if it does. Anyway, let's see where it goes. I don't think rent tied to purchase price may be as much as an issue as you think, the only reason why rent growth has slowed is because of the existing preconstruction inventory coming to market now after completion, flooding the market. When that supply gets absorbed, and with the past two years of not building, we will have a supply shortage. Eventually rents will skyrocket again. Can't wait to get rid of the dingbats also!
@MarcoPerruzzaАй бұрын
@@KennethYimHomes tell your wife to stop sending me nude. It's disturbing.
@Wildbore4812 күн бұрын
@@KennethYimHomes Yes, preconstructions of condos have slowed but simultaneously purpose built rentals have picked up. Might balance out.
@adityabhambri2043Ай бұрын
Hello! Thank you for the informative video. I have question, I bought a condo townhome for investment which has Right to lease during Occupancy. The actual closing would be after 6-8 months when the whole project is complete. Could you please let me know if the 12 months lease condition to qualify for the rebate could start during the Occupancy? Or does it needs to be from the actual closing date to get hst rebate? Thank you.
@KennethYimHomesАй бұрын
You should be able to submit the original lease at occupancy and still get the rebate, it's how I've done it for at least 3 of my condos.
@adityabhambri2043Ай бұрын
@@KennethYimHomes Thank you so much for the info!
@moomba347Ай бұрын
so lets say i sell something and make 250 000$ profit, 125 000$ will go to the government?
@KennethYimHomesАй бұрын
Oh i should have been more clear. No, if you make $250,000 through a capital gain held in your personal name (not in a corporation), only half of that will be included in your income, and then taxed at your marginal rate. In other words, $125,000 would count as income for that year. if it's in a corporation, and if you made that same $250,000, then now $165,000 would count as income for the year (vs $150,000).
@KennethYimHomesАй бұрын
Then at that point that income would be taxed at your marginal rate (53.5% at the highest marginal tax bracket in Ontario).
@moomba347Ай бұрын
@@KennethYimHomes thank you very much!!
@garydesousa9784Ай бұрын
They like rich neighborhoods what a surprise
@colicusjones4156Ай бұрын
Man…nobody told my guy his fly was open 😬
@KennethYimHomesАй бұрын
Haha shoot I told him after we filmed it. I just noticed it then. Good observation!
@colicusjones4156Ай бұрын
HAHA, it's happened to us all! Incredible home. Thanks for sharing! @@KennethYimHomes
@divyv20Ай бұрын
Hey Kenneth , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
@RadPittАй бұрын
Don't worry, idoit trudeau will make 50 year mortgages soon to keep the bubble. Sprinkle on some immigrants for safety
@jaayclyde21Ай бұрын
I am co-signed with my wife on an investment property that we recently closed. Can I still follow the steps outlined in the video? Anything we would do differently?
@KennethYimHomesАй бұрын
Yes, there's a section on the first page that lists out all the owners.
@jaayclyde21Ай бұрын
@@KennethYimHomes thanks! is it worth getting an accountant to do this or is it fairly straight forward as outlined in your video ?
@allcan4175Ай бұрын
funny, i never watch podcasts,but i watched this whole thing 😃
@KennethYimHomesАй бұрын
Thank you!
@compilation8800Ай бұрын
How about the cooking?
@omegadonkeyАй бұрын
Landlords are the biggest parasites, they take money from people that actually produce, they are a major drag on the economy especially in places like canada
@rowenadinsmore1Ай бұрын
YOU COULD WRITE A BOOK ABOUT THIE CONSTRUCTON OF THIS HOUSE.
@LpmeffАй бұрын
bad info
@sheryldelacruz5619Ай бұрын
130 year ...
@sheryldelacruz5619Ай бұрын
if the 130 historical interest rate average is 4.75% dont count that the rates must drop is not really a theory thats plausible.
@KennethYimHomesАй бұрын
What? 130 year interest rate? You mean 30 year? Anyway, I don’t think the neutral overnight lending rate is where it’s at now, it’s more like 3% or below.
@HutinPuilo777Ай бұрын
Scrolling thru the videos and noticing the Ukrainian flag 🇺🇦 in the background. Well, now I'm even more motivated to watch the video, like & comment.
Пікірлер
Sorry i coupdnt hear Kayla's worstvpick due to sound quality
Yeah, we will update this video soon! With better audio. I think she said Ice Condos, same as what Keyvan said.
Nice layout on the home. Explanations were amazing.
Thank you so much for the video. This is helpful. My accountant submitted the application on April 26 and I haven't received a cheque yet. Is there a way we can track the application? And how long it takes CRA to process the application?
Did you submit it through snail mail? Or through the CRA website (personal or business)? If online, I believe there's a progress tracker. Or call them.
@@KennethYimHomes The accountant submitted it via online CRA Portal. It's for personal. And she said, you can't track it online.
you dont care because you are just clipping volume, only when volume dries up do you freak out 😄
Yes of course, last year the volume really dried up compared to the previous years. But thankfully our team is consistently in the top rankings because of a loyal repeat customer base, and people always need to move, so we have people to help. But volume has definitely slowed down.
people who are against profits and investors do NOT understand how the world works. It's really sad that so many people fundamentally do not understand how anything works.
It’s not the landlords doing it , it’s the banks and the government that people are mad at.
Since the biblical times tax collectors and landlords were always the most hated people. Fact of life. Don't bother listening to the haters. Let their delusions justify why they poor.
So funny watching this from Western Europe. How you are on awe about the tilting Window, thickness of the wall and 3 Tier window. Not saying that all houses have that here, but it is of a norm and we probably are taking it for granted. Love the house.
Our land is so expensive here, so everything is typically built so cheaply
And for the sake of actually helping you understand ill explain a bit.....Land and housing speculating should be illegal. You have turned a basic necessity into a commodity. Look around your city, how many homeless people do you see? You are spearheading an industry that has done more destruction than anything else in the past 20 years. If i had to just sum it up in one word GREED. Its destroyed you my guy. Argue all you want but just look around at the state of the economy. This is your sh!$ and you should be ashamed of what you have eaten.
The caller is right.
what is the incentive for people to risk their behind to build and or improve homes? wakeup.
Be fair and not greedy and no one will hate you. Similar as that.
who says where the fair line is set?
how about opening a business? i know its hard
I own two businesses already? How do you think I got the capital to be an investor?
@@KennethYimHomes there are million ways getting capital. why dont you talk about those instead of pricing out people out of the market. theres nothing sexy in producing cash without value to anyone. lets talk bout nvidia... yey we all made money.its not a great topic of discussion. its not smart or clever. its just turning 1 into 2...
Mr. Yim, I hope you are enjoying the cool market activity and enjoying burning through your savings each month and enjoying $1000 to $2000 negative cashflow on your rental property each month. No worries more joy is on your way at renewal.
LOL thanks the house of cards comes crumbling down, oh no! ... by the way, that's per property.
@@KennethYimHomes by the way, nice Tesla. Let me know if it comes up for sale next year.
@@user-kv4kp4co1r how could I let you know when you hide behind a keyboard? Don't worry, it's not for sale. Thankfully I have other sources of income, so beat it.
@@user-kv4kp4co1r bud, quit wasting so much time and energy listening to his content. Go fishing or something geeze.
@@mechanicalrev Who listens to his full video/s! I'm just here to comment.
Bitcoin > Real Estate
People need homes they don’t NEED Bitcoin.
@@jordandowland7256 exactly, people buying houses to make money off of is a crime of humanity Housing is a consumption good, not an investment. It's a basic human need. Houses are unaffordable for the vast majority, especially younger generations because of real estate investors bidding up the price. House prices need to fall to the utility value Bitcoin will drain the monetary premium of real estate In our lifetime. Not attacking real estate investors.. this phenomenon is a result of the incentives of Fiat money. Where the fruits of your labor, where you store your money in, the dollar, is constantly being debased so you are forced to speculate on something. And at the end of the day, real estate is trending to zero when you price it in Bitcoin. Bitcoin is the superior store value in the world compared to everything else.
It's all supply and demand. My only problem is how the central banks keep using quantitative easing to bail out the investor classes instead of letting them liquidate. I'd love to see the mother of all global margin calls from a collective central bank tightening that forces the investors to tighten. It wouldn't hurt to ban non citizens investing in your real estate. Nations spend money overseas to "export inflation" but then that money comes back through foreigners gobbling up real estate.
That already happened, but it’s a ban on non-residents not non-citizens. From the central bank side, their mandate is primarily on maintaining price stability, aka managing inflation. Not just in shelter, though it’s the largest weighting of the basket of goods, but everything else also. So QE isn’t only to bail out investors, it’s also to inflate away the national debt amongst other things. It just so happens that asset owners end up benefiting.
Real estate is dead without zero % fed funds rate. Most recent investors don't realize that they will have a NEGATIVE cap rate for next 5-10 years. People are not buying because they don't QUALIFY at these prices/rates.... And now it is cheaper to rent than to buy. The number of new construction is insane. As a result Inventory is just exploding. It takes just a few foreclosure to bring down the comps in a sub devision Meanwhile Landlords keeping them empty are loosing their property to Squatters 😂 By the way you can just buy T-BILL and chill by getting 5% risk free.
This is US. In Canada, new construction has stalled because buyers aren’t buying, so banks won’t finance, so builders can’t build.
But yes I agree with you. No more negative real interest rates, so cap rates are going to have to inflate.
I hope you are enjoying the cool market activity and enjoying burning through your savings each month and enjoying $1000 to $2000 negative cashflow on your rental property each month. No worries more joy is on your way at renewal.
Renters should unionize, then do collective bargaining to the landlords. If one person doesn't pay then it's the tenants problem. If all renters agree not to pay then it's the landlord/banks problem.
silly
Keep pumping out content. Don’t worry about the loser haters.
Thank you so much! It's good to hear the other perspective though, I want to hear their opinions to challenge my own thoughts.
It's understandable that people are frustrated when a lot of businessman don't understand sustainable business. The idea is to create wealth so that other people can then spend their money and trust you in the process so that all people will want to do business. If more people were focused on the long-term profits, we would not be here in this situation with housing.
The problem is that mortgages renew every 5 years, it's quite rare to get a 10 year term (and terms that match the 25-30 year amortizations like in the US don't exist here). So even if the businessman got a great rate on the first few terms, any future terms are subject to massive potential interest rate increases. Like the mortgage renewal wall that's coming up in the next 2-3 years.
Nice apartment
How many months is the rent for
ONTARIO LINE TRAIN
ONTARIO LINE TRAIN UNDERNEATH?????
ONTARIO LINE TRAIN UNDERNEATH????
It’s just north of it actually. Where the parking lot is now, on Distillery Lane.
Thanks.
Why is rent outpacing inflation? Why aren't landlords competing against each other? Why do landlords let properties lay vacant rather then lower their rent?
My friend live in Germany hamburg having 2bedrooms living nic house include ele internet 800 euro per month only. Federal Government control their housing and rents in Germany. House is so cheap here. People do not invest in housing, they mostly invest in produce and economy. Couple having medium jobs total making150k euro a month. They saved 300k in 4 years while having luxury life. And they bought house in Canada 450k back in 2017 and they lift the equity value by 1.65 million in 2022. They bought another house in Canada 1.1 million. And they just sold both houses in 2024. They made combine 2 million Canadian doller. How those idiots and uneducated Canadian peoples mostly dump migration run behind to buy house so desperatelly. Also we noticed that house they sold to indian and Chinese who doing truck driving and pizza store cheap jobs. They put 10 to 12people in house to meet mortgage payments. So poor life style. Canada have so poor reputation around world with poor life style. You guys must stopped to import cheap Indian and Chinese way back.. To late.. Lot of people made fortune out of your country. 1.7 million for rubbish house, really. World laughing on you guys.. 😂😂😂😂😂😂😂😂😂😂😂😂😂I 😂😂
Shelter food and water are basic human needs thatunfortunately not everyone can afford. It's crazy to profit off such necessities and not have the government step in and cap these prices in order to live. Why can't the government offer affordable homes to families who need it. We don't need more landlords who won't fix essential things like my water heater or won't let us live in peace without coming to our rented space everyday unannounced sending contractors to do non essential work they make us pay extra for and call it gardening fees to laminate a driveway. They just don't prioritize and they don't sage guard families either as they should breaking so many different laws. I give my rental place 6 more months before I make a legal claim to end my lease early. Landlords like this are leeches who only want money to give to their children without them working hard for it. Silver spoon children I call it / breeding privledge and because they come from old money, they won't have the cash to fix whay needs to be fixed.
Sorry that you have a bad landlord. Try to think of it in a different light. The government is terrible at building homes, they're hugely inefficient and wasteful. If they did build homes, they'd spend so much money doing it, and it has to come from somewhere. Unless people came to work for free and/or donated materials for free, the only way housing would be built is if you paid people and paid to buy materials. No one would work for free because they need jobs to buy food to feed their families. In other words, profit is not evil, it's what's used to incentivize people to come to work. Otherwise no one would do it. Now bad landlords gouging you is a different story. But how do you know they are bad? How do you know that they are not under water on their expenses, which include utilities, taxes, interest expense, all that stuff that keep the building running? Have you ever thought about what it takes to operate a building? If it's a landlord that owns it free and clear and they're just being greedy, then they're evil. If it's a pension fund or a REIT that owns the building, then they are profit driven because they must produce a return for their investors, which could very well be every day people counting on retiring with their pensions. If you're lucky enough to be in Ontario, then you will have tenant protection laws. I encourage you to read up on the Residential Tenancies Act and know your rights. There's free legal advice from some volunteer organization or legal aid that could likely help you. Good luck with your situation. There's always two sides to a coin.
@KennethYimHomes how can we trust lanlords are even building these homes safely. I can't say my landlord even built this property properly using, Mexican immigrants who are barely licienced to do anything which then voids the warranty on many things like our water heater currently as they never got the store they ordered it from to install it properly. There's no hope in hell it can get replaced as the whole installation is faulty and missing components. They also never finished with construction before they planned to rent the property which is a breach of our privacy coming around everyday without warning to carry out work that should have been done before we signed the rental agreement. This is greed. It breaches living in peace and quiet sanctions in California.
@KennethYimHomes there has to be a limit though on profiting off someone else's suffering a basic human need. Many people are skipping meals to pay for their rent how is this not evil.
Hello, we purchased a condo as a corporation and it's currently rented out. I did some research online, it says that corporations are not eligible to claim new housing rebate. As for new residential rental property rebate, there is not much information. Do you know if condo held by a condo is eligible for this rebate? Thanks!
Absolutely wrong. I’ve gotten the rebate for condos owned in several corporations that I’ve owned. The caveat is that the corporation must have been the first purchaser for the condo though, so you would have had to assign the condo from your name to the corporation (or have added it as a purchaser along the preconstruction phase). Talk to your lawyer for more details.
Excellent Ken, excellent. I’m Closing on 2 Nobu units in august. Need to put 40% down to cash flow even.
I jumped
Flee flee flee to the south
They also fake their mortgage papers. The feds know all about it but don't want to crash the hosing market. The system is rigged for honest first time buyers
1:35 magic....A passive definition on a new level
I remember 50% of investors were cash flow negative prior to 2020. The question is there correlated evidence to show that they have been selling in numbers? Because for the most part despite the small correction we've seen, the market is still filled with investors, so they are somehow coping with the higher deficit they have.
Not sure if anyone has that data, but from April 2024 vs April 2023, Toronto condos have +61% more new listings as compared to all the other housing types in Toronto at +41% (Toronto detached +39%). The growth of new listings in Toronto condos is much higher than the other segments, and a large percentage of condos are investor owned. FYI the stat of cash flow negative investors are for new completions only, I don’t believe the study was for all investors. This was from Urbanation.
would you say 2026 is when you would really see supply shortage?
I would think a little later, closer to 2027+, based on the rate hike timeline that started in 2022-2023. It takes about 4-5 years to get a project sold and built.
There are some logic fails here, and seem to be forgetting history of other bubble pops. Rents are tied to income, so rent revenue growth will be restricted even if immigration policies stay dumb, which will cap unit prices to an extent as nobody wants to buy a unit that isn’t cash flowing, Once the recession and unemployment comes, prices will take a big hit too. And pretty sure when you get rid of the dingbats in Ottawa wrecking our country high immigration, inflationary debt and deficits and anti development policies, we can have an economy more diverse and less dependent on unproductive real estate speculation. Real estate will be a good investment, but this guy is putting it on a pedestal when it will likely struggle in Canada for a decade like the 90s as deleveraging occurs.
I hope we don't have another lost decade in real estate, you know the central bank will probably drop rates in response if it does. Anyway, let's see where it goes. I don't think rent tied to purchase price may be as much as an issue as you think, the only reason why rent growth has slowed is because of the existing preconstruction inventory coming to market now after completion, flooding the market. When that supply gets absorbed, and with the past two years of not building, we will have a supply shortage. Eventually rents will skyrocket again. Can't wait to get rid of the dingbats also!
@@KennethYimHomes tell your wife to stop sending me nude. It's disturbing.
@@KennethYimHomes Yes, preconstructions of condos have slowed but simultaneously purpose built rentals have picked up. Might balance out.
Hello! Thank you for the informative video. I have question, I bought a condo townhome for investment which has Right to lease during Occupancy. The actual closing would be after 6-8 months when the whole project is complete. Could you please let me know if the 12 months lease condition to qualify for the rebate could start during the Occupancy? Or does it needs to be from the actual closing date to get hst rebate? Thank you.
You should be able to submit the original lease at occupancy and still get the rebate, it's how I've done it for at least 3 of my condos.
@@KennethYimHomes Thank you so much for the info!
so lets say i sell something and make 250 000$ profit, 125 000$ will go to the government?
Oh i should have been more clear. No, if you make $250,000 through a capital gain held in your personal name (not in a corporation), only half of that will be included in your income, and then taxed at your marginal rate. In other words, $125,000 would count as income for that year. if it's in a corporation, and if you made that same $250,000, then now $165,000 would count as income for the year (vs $150,000).
Then at that point that income would be taxed at your marginal rate (53.5% at the highest marginal tax bracket in Ontario).
@@KennethYimHomes thank you very much!!
They like rich neighborhoods what a surprise
Man…nobody told my guy his fly was open 😬
Haha shoot I told him after we filmed it. I just noticed it then. Good observation!
HAHA, it's happened to us all! Incredible home. Thanks for sharing! @@KennethYimHomes
Hey Kenneth , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
Don't worry, idoit trudeau will make 50 year mortgages soon to keep the bubble. Sprinkle on some immigrants for safety
I am co-signed with my wife on an investment property that we recently closed. Can I still follow the steps outlined in the video? Anything we would do differently?
Yes, there's a section on the first page that lists out all the owners.
@@KennethYimHomes thanks! is it worth getting an accountant to do this or is it fairly straight forward as outlined in your video ?
funny, i never watch podcasts,but i watched this whole thing 😃
Thank you!
How about the cooking?
Landlords are the biggest parasites, they take money from people that actually produce, they are a major drag on the economy especially in places like canada
YOU COULD WRITE A BOOK ABOUT THIE CONSTRUCTON OF THIS HOUSE.
bad info
130 year ...
if the 130 historical interest rate average is 4.75% dont count that the rates must drop is not really a theory thats plausible.
What? 130 year interest rate? You mean 30 year? Anyway, I don’t think the neutral overnight lending rate is where it’s at now, it’s more like 3% or below.
Scrolling thru the videos and noticing the Ukrainian flag 🇺🇦 in the background. Well, now I'm even more motivated to watch the video, like & comment.
Slava Ukraini!