Quit your job and start flipping
Here’s a handy financial planning tip: Quit your job and start flipping condos.
You can not go wrong with this simple plan my friend, just look at the facts:
1. BC Jobs don’t pay well. look at this chart, just look at it. Our incomes have gone up, but not by as much as in Alberta or Ontario, both of whom get paid much better than us. At least our houses cost more.
2. Your job may leave you. Quit it before it quits you. In January 2009 the Metro Vancouver unemployment rate was 4.9%. Now it’s 7.8%. See which way that’s going? hint: it’s the opposite of house prices. Make your own secure future in the real estate biz today!
3. The Government wants you to. If the government didn’t want you to be speculating on real estate they wouldn’t hold interest rates at .25% and insure your mortgage with just 5% down (which the bank will give back to you in cash!) would they? It’s a pretty clear message, the only real road to riches is REAL ESTATE baby! We can all be Donald Trump!
4. Real Estate Never Goes Down. This is self explanatory. Prices have risen tremendously in Vancouver which clearly means it’s a hot sector whose track record is proven. In March 2010 the REBGV benchmark house price dropped by $455 to only $800,341. I smell a buying opportunity!
Does this sound exciting to you? Then YOU are the kind of financial intellect I’d like to work with!
I’m willing to offer you a very special deal for a limited time only. Send me $15,000 and I will send to you, absolutely free, a handsome inkjet print of these words on a 8.5 x 11 inch piece of paper suitable for framing. This will empower you to REMEMBER and BELIEVE the words so that they may bring you happiness day after day, even in the event of a completely unforeseeable market collapse.
Now go quit your job and start flipping condos.
Home Suite Home Income | Vancouver Condo Info Says:
April 14th, 2010 at 2:17 am
[...] Best place on Meth: $60,000 median household income. $1000 per month suite income. 35 year am. 5% down. Payments on 5 year fixed. – March 19, 3.29% qualifying rate, maximum mortgage $575,082 – April 19, 4.4% qualifying rate, maximum mortgage $357,269 = A 37% decrease in purchasing power. [...]
April 14th, 2010 at 12:01 am
The real question is what happens to inventory after April 19th. Will we see a sharp drop-off in sales? Funny thing is when the stats come out for April people will probably be encouraged by the fantastic sales numbers without understanding the potential end of month collapse.
Now, finally without additional stimulus from the federal government and with rising rates, we get to see some actual market pricing of real estate in Vancouver.
April 13th, 2010 at 11:51 pm
************* 1/1/07 / 4/30/2007 / change
Bowen Isld 33 / 51 / 54.55%
_Bby East 97 / 162 / 67.01%
_Bby North 440 / 604 / 37.27%
Bby South 464 / 614 / 32.33%
Coquitlam 500 / 681 / 36.20%
Van.&Gulf 81 / 130 / 60.49%
___Ladner 68 / 115 / 69.12%
MapleRidge 508 / 656 / 29.13%
_New West 262 / 391 / 49.24%
_North Van. 327 / 513 / 56.88%
OutoTown 195 / 258 / 32.31%
_Pitt Mead 85 / 138 / 62.35%
_Port Coq. 215 / 352 / 63.72%
PortMoody 208 / 321 / 54.33%
_Richmond 1352 / 1711 / 26.55%
_Squamish 301 / 303 / 0.66%
Sunshine C. 570 / 754 / 32.28%
_Tsawssen 127 / 170 / 33.86%
__Van East 971 / 1282 / 32.03%
_Van West 1597 / 2001 / 25.30%
_West Van 299 / 431 / 44.15%
__Whistler 515 / 497 / -3.50%
_____Total 9215 / 12135 / 31.69%
************* 1/1/2008 / 4/30/2008 / % change
Bowen Isld 33 / 74 / 124.24%
_Bby East 81 / 165 / 103.70%
_Bby North 299 / 668 / 123.41%
Bby South 321 / 644 / 100.62%
Coquitlam 503 / 1121 / 122.86%
Van.&Gulf 114 / 135 / 18.42%
___Ladner 69 / 161 / 133.33%
MapleRidge 557 / 871 / 56.37%
_New West 303 / 565 / 86.47%
_North Van. 324 / 765 / 136.11%
OutoTown 188 / 297 / 57.98%
_Pitt Mead 138 / 169 / 22.46%
_Port Coq. 258 / 475 / 84.11%
PortMoody 225 / 485 / 115.56%
_Richmond 887 / 1834 / 106.76%
_Squamish 270 / 376 / 39.26%
Sunshine C. 540 / 857 / 58.70%
_Tsawssen 99 / 175 / 76.77%
__Van East 722 / 1365 / 89.06%
_Van West 1234 / 2871 / 132.66%
_West Van 324 / 609 / 87.96%
__Whistler 382 / 533 / 39.53%
_____Total 7871 / 15215 / 93.30%
************* 1/2/2009 / 4/30/2009 / % change
Bowen Isld 52 / 73 / 40.38%
_Bby East 136 / 161 / 18.38%
_Bby North 589 / 661 / 12.22%
Bby South 584 / 653 / 11.82%
Coquitlam 956 / 1041 / 8.89%
Van.&Gulf 208 / 257 / 23.56%
___Ladner 160 / 171 / 6.88%
MapleRidge 907 / 1054 / 16.21%
_New West 474 / 500 / 5.49%
_North Van. 641 / 845 / 31.83%
OutoTown 207 / 239 / 15.46%
_Pitt Mead 140 / 166 / 18.57%
_Port Coq. 423 / 436 / 3.07%
PortMoody 341 / 398 / 16.72%
_Richmond 1669 / 1743 / 4.43%
_Squamish 324 / 429 / 32.41%
Sunshine C. 662 / 954 / 44.11%
_Tsawssen 145 / 227 / 56.55%
__Van East 1254 / 1325 / 5.66%
_Van West 2571 / 2740 / 6.57%
_West Van 524 / 660 / 25.95%
__Whistler 558 / 599 / 7.35%
_____Total 13525 / 15332 / 13.36%
************* 1/1/2010 / 4/13/2010 / % change
Bowen Isld 46 / 105 / 128.26%
_Bby East 68 / 150 / 120.59%
_Bby North 345 / 685 / 98.55%
Bby South 362 / 656 / 81.22%
Coquitlam 531 / 1042 / 96.23%
Van.&Gulf 215 / 255 / 18.60%
___Ladner 65 / 144 / 121.54%
MapleRidge 575 / 947 / 64.70%
_New West 262 / 564 / 115.27%
_North Van. 412 / 878 / 113.11%
OutofTown 105 / 74 / -29.52%
_Pitt Mead 121 / 191 / 57.85%
_Port Coq. 237 / 436 / 83.97%
PortMoody 213 / 408 / 91.55%
_Richmond 893 / 1697 / 90.03%
_Squamish 402 / 488 / 21.39%
Sunshine C. 656 / 1038 / 58.23%
_Tsawssen 98 / 165 / 68.37%
__Van East 767 / 1334 / 73.92%
_Van West 1396 / 2986 / 113.90%
_West Van 386 / 623 / 61.40%
__Whistler 569 / 738 / 29.70%
_____Total 8724 / 15604 / 78.86%
April 13th, 2010 at 11:48 pm
*UPDATE*UPDATE* 11:46pm
April 13,2010 = 15,604