The best way to make money in Real Estate

Looks like somebody has figured out the easiest and best way to make tons of money in Real Estate.

It’s not buying and flipping condos, it’s not renting out rooms and sheds, it’s not even as a developer building towers or a realtor taking a commission on each sale.

No, all those things would take way too much work.

The best way we’ve ever seen to get rich off of real estate is simple: sell your name to developers.

This way you take no risk in the market and make money no matter what happens.

So what are you waiting for? Get selling!

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Gardening clickbank
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Gardening clickbank

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[…] -Canadians spend more on housing -Heritage drives down prices -Using tax dollars to boost economy -The little mountain that couldn’t -Holidays are for losers -TFW program not so curtailed -Swedish bubble test case? – […]

say whaaaa?
Guest
say whaaaa?

@space889:

Nice straw man argument.

Proportionally how many people in China live in (admittedly) very expensive tier 1 cities vs. dirt farms? This is one of the dangers of using averages.

(PS – I know I shouldn’t feed the trolls)

Marco
Guest
Marco

@43

Yes.

” If you build it he (they) will come”

http://www.rottentomatoes.com/m/field_of_dreams/

Son of Ponzi
Guest
Son of Ponzi

#42
….. Or Richmond Centre.

Marco
Guest
Marco

@36 rocknrolla

Yes.

” The closer to UBC you lived, the better you made out… As well as Park Royal.

Cheers.

patriotz
Member

@31: ““Canadians spend more income on housing than almost anyone in the world”, Globe & Mail”

Couldn’t read the article, but the headline is simply wrong. Canadians on average spend around 30% of household income on shelter.

What I think the article is looking at is the cost of buying today, which is something completely different. Most households bought years ago and of course 30% of households rent.

Oh Grow Op!
Guest
Oh Grow Op!

“House price to income ratio in China is beyond insane. Any report saying China has low housing cost is either bullshit or didn’t even do the most elementary research.”

@Space889, isn’t it actually the the low incomes that are the issue? Your figure of 10k RMB per month for upper middle class office worker is about $1800 cad per month. Thats pretty low, but I guess the TFW program will help insure those incomes come to Canada soon.

space889
Guest
space889

Looks like it is $200M down the drain and counting with Compass, originally started in 2008!!!

http://www.cbc.ca/news/canada/british-columbia/compass-card-program-delayed-again-by-translink-1.2701045

Seriously, how hard is it to get it working? If HK and China can do it then why can’t the best place on earth do it?? And $200M!!!! That could have bought a lot of buses!

space889
Guest
space889

@Bull! Bull! Bull! – Off course renting is great and nobody has any excuse about not able to find good rental places. Just ask Patriotz! Buying to just avoid the “perceived” hassles of renting or lease expiring is just nonsense.

space889
Guest
space889
@southseacompany – China with lowest housing cost is a load of bullshit. Any cursory glance of China news, social media, or even TV shows would show that housing cost is a HUGE problem in China. In any tier 1 city, one square meter of a condo in the equivalent of Delta/Langley would cost the entire before-tax monthly salary of a middle to upper middle class office worker (~ 10K RMB/month). For the average working stiff making 3K to 4K RMB, that’s 3 months of before tax monthly salary. Move to somewhere like Surrey/New West would double that cost. Rental cost is similar crazy unless you are living in company dorms or government regulated housing. House price to income ratio in China is beyond insane. Any report saying China has low housing cost is either bullshit or didn’t even do the… Read more »
rocknrolla
Member
rocknrolla

Agree with Marco. Best way to make money in Vancouver RE was to be born from 1945-1975 and have put all your eggs in your housing basket. The closer to UBC you lived, the better you made out.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

but… but.. affordability isn’t an issue, because renting is so great.

Marco
Guest
Marco

@31 Southseacompany

42% of income goes toward housing costs for Canada on average. What about Vancouver:

” In Vancouver, for example, the cost of owning a home eats up more than 80 per cent of an average household’s income, according to the Royal Bank’s affordability index. In Toronto, it’s over 50 per cent. Overall, affordability remains below historical averages across the country, RBC says, with two-storey homes in particular causing “affordability-related stress.” From Macleans magazine.

Cheers.

southseacompany
Member
southseacompany
Poloz before Senate today; Q & A; “Bank Of Canada’s Stephen Poloz And Carolyn Wilkins Testify Before The Senate” https://businessincanada.com/2014/10/29/stephen-poloz-carolyn-wilkins-october-senate-testimony-bank-of-canada/ “5:07: Is the ratio of household debt to income going to continue to grow? Are you advising CMHC…we might run out of Canadians to put in condos. There’s a frenzy. I don’t know who’s going to live there. I don’t think the demand is that high. 5:09: Wilkins: we’ve expressed our worries about indebtedness and the housing market. The debt ratio compared with disposable income appears to have plateaued around 160 percent, and the growth of credit has declined. It’s low compared to historical norms. But there is some vulnerability there. There were signs of a slowdown in the real estate market, but it’s picked up steam. There are more starts, sales, and price growth than we’ve thought. Continue to… Read more »
southseacompany
Member
southseacompany

“All eyes on Yellen and rate increase after Fed ends QE stimulus”, Glove & Mail

http://www.theglobeandmail.com/report-on-business/economy/fed-ends-qe-sees-underlying-strength-in-economy/article21367614/

“The U.S. Federal Reserve has ended a bold and controversial chapter in its monetary policy, winding up its two-year, $1.6-trillion (U.S.) asset purchasing program and turning its sights toward its first interest rate increase since 2006.”

southseacompany
Member
southseacompany

“Canadians spend more income on housing than almost anyone in the world”, Globe & Mail

http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/canadians-spend-more-of-their-income-on-housing-than-almost-anyone-in-the-world/article21369414/

“Canadians are struggling with steep housing costs, according to a large global survey which found that high mortgage, rent and utility payments are leaving little for saving and investing.”

“Only the Netherlands and Sweden had higher housing costs, at 51 per cent and 45 per cent, respectively, according to the survey’s global comparisons. China had among the lowest housing costs of the countries surveyed, at 15 per cent while the U.S. was just below Canada at 42 per cent and Germany came in at 35 per cent.”

“Nearly half of respondents said they are concerned that they will outlive their savings in retirement, and half are concerned that future generations will not be able to save enough for a comfortable retirement.”

#thisisadisaster
Guest
#thisisadisaster

I know a lot of people give Westside Realtor a hard time, but I find him useful. The up/down vote ratio for his especially inane posts are a great proxy for the relative ignorance of current VCI readership.

Shut It Down Already
Guest
Shut It Down Already

Indeed. Facts and figures be damned – we should pay more attention to your fictional alter-ego’s “coffee chat”.

Westside Realtor
Guest
Westside Realtor

Fellas,

The numbers don’t tell the whole story.

Volume/strength is jn the middle market. Upper and lower end are quite weak, and momentum points towards worsening levels of pricing power.

It’s the new west madness of crowds now, the last fumes of mania.

“All the real estate talk” – you might be surprised at how the overall volume of hysteria has calmed down. To me, this points to an exhausted market.

RFM
Guest
RFM
YVR2ZRH: like you, I left town; but, I have watched PaulB’s daily numbers and have been quite surprised by the apparent volume of sales. It appears October 2014 will end up being a very strong month, not only in terms of sales numbers, but I’ll bet the HPI will be up as well. What can possibly be sustaining this? When I calculate the VRHI next week, I’ll bet it will show below average numbers of hungry realtors. Wow. Having moved to S. Cal, I can report that sales numbers are on par with past years, but the market is definitely running out of steam. I also believe that current buyers are paying too much, in general, and that prices will flatline for some time. Any significant increase in the cost of borrowing home-mortgage money will kick both the Canadian and… Read more »
yvr2zrh
Member

A quick addition of the stats for this month show that October has been on fire. Does anyone have any real insight as to what is driving this? We have had a very strong 2014 and volumes have been very strong. Is this being driven by cheap money?

I’ve been out of town for a while and it’s great that I don’t have to listen to real estate in every conversation – but I do watch from afar and am a bit surprised by the strength recently.

JR
Guest
JR

Bull, what did I miss? Have we actually landed? I thought we were still somewhere in the stratosphere, circling around, waiting for the inevitable downward trajectory (something like Icarus; the higher you go, your wings melt and then…..)

kabloona
Member
kabloona
In case anybody forgot about the Trump fiasco in Toronto….. Trumped: the multi-million-dollar lawsuit over Toronto’s most controversial new condo-hotel http://www.torontolife.com/informer/features/2013/07/02/toronto-trump-tower-lawsuit-feature/ “…..Donald Trump declined to speak with me, but Ivanka, his daughter, agreed. The 32-year-old is vice-president of development and acquisitions for the Trump Organization. When I reached her, she was in the back of a chauffeur-driven car on the way to the airport… Ivanka is an excellent human shield for her father, who is no stranger to lawsuits. He has been sued by investors on several hotel projects and has launched his own litany of suits against a long list of perceived offenders, including an unauthorized biographer, a former Miss U.S.A. contestant, Deutsche Bank and the comedian Bill Maher… …Ivanka said she is staggered by the investors’ claims that they believed they were buying their units directly from Trump.… Read more »