Active Listings have exploded in Vancouver

[no_clue]

I've noticed that condo prices in richmond/ubc still keep rising, maybe because it is convenient for new chinese immigrants/international students?

taylor192 all this info is for residental real estate and not commercial correct?

[taylor192]

Originally Posted by no_clue

I've noticed that condo prices in richmond/ubc still keep rising, maybe because it is convenient for new chinese immigrants/international students?

UBC will probably always command a higher price and suffer less loss. Students need housing so buying to rent is a good deal. There's also a lot of retired people who like the neighbourhood. Plus the professionals that work at the university.

That's not to say prices at UBC will always go up, just means they won't go as far down.

Originally Posted by no_clue

taylor192 all this info is for residental real estate and not commercial correct?

Yes. Buying commercial property requires a different mindset.

[Devastator]

Originally Posted by taylor192

Since you're asking this question, I assume you're just getting started. I'd read:

Money Road by Garth Turner - if you disregard the real estate rhetoric it is a good overview of different types of investments.

Motley Fool - a good overview of how we're in a communication age, not information age. Picking the best stocks is about communication, and there's lots of way to communicate that information today.

After that stick to mutual funds until you have a handle on looking at reports and understanding them. Funds are diversified and will minimize your initial risk, albeit for a fee. I'd stay away from ETFs that match the markets, they have been holding steady for > 6 months, ie no gains.

You can also sign up for an iTrade simulation account and give trading a go for a month.

I found the first book you recommended, but can't sem to find Montly Fool. Can you give me some more info on it.

thanks in advance.

[taylor192]

Originally Posted by Devastator

I found the first book you recommended, but can't sem to find Montly Fool. Can you give me some more info on it.

thanks in advance.

http://www.fool.com/
http://www.fool.com/shop/books/index.htm

This is a very good site to add to your daily or weekly reading. I'm tempted to sign up for the newsletter.

[westcoastgsr]

I really wish we can see how many people actually live or rent condo units. As I look around it just seems alot of units are vacant. Theres this unit across from me that has been vacant for 6 months and its not listed for sale...I guess they are too rich to care???

I think there will be alot of people in financial difficulty when people start renewing their 5 year mtg @ 40 amort in a few years. Too many FTB not looking in to the future.

[Gt-R R34]

welcoem back taylor192. Missed our debates.

[taylor192]

Originally Posted by Gt-R R34

welcoem back taylor192. Missed our debates.

Thanks dude, I miss debates too. Hopefully others won't take them too personally in the future.

Edit: dude you're one of the moderators of this forum! Why can't we post pics?

[taylor192]

I found this today and thought it was hilarious that the Realtor actually contacted a few websites to have the pictures taken down cause it incites people to break the law.

http://globaleconomicanalysis.blogsp...rown-chip.html

Damnit, why can we not post pics? I'm going to ask.

http://4.bp.blogspot.com/_nSTO-vZpSg...+pricing+1.png

http://2.bp.blogspot.com/_nSTO-vZpSg...+pricing+2.png

[LiquidTurbo]

Taylor I've been reading everything you post but it all seems so overwhelming.. where can a newb newb newbie start? (aside from reading Money Road)?

[Roach]

Welcome back Taylor. We've had some run-ins before but you're one of a few that can discuss a point with some eloquence.

I'm inclined to agree with your viewpoint on the Vancouver housing market. As the son of a long-time realtor, I believe that the market moves in cycles. I've witnessed and lived through it as things went really dry a couple of times in my dad's career. I don't think we've seen the trough in this market yet.

Are there any sites with local commentary that you follow?

Kev

[SkinnyPupp]

For some reason, this forum was set to not show pics. I have fixed that.

Welcome back!

[SkinnyPupp]

Testing

[taylor192]

Originally Posted by LiquidTurbo

Taylor I've been reading everything you post but it all seems so overwhelming.. where can a newb newb newbie start? (aside from reading Money Road)?

Just ask questions, it is how I got started. Start a new thread and post what you're confused about. I'll answer and I'm sure others here will chime in.

I definitely recommend Money Road if you're confused. It is a very good beginner book, and not expensive. Buying a book is never a bad investment IMHO.

[taylor192]

Originally Posted by Roach

Welcome back Taylor. We've had some run-ins before but you're one of a few that can discuss a point with some eloquence.

I'm inclined to agree with your viewpoint on the Vancouver housing market. As the son of a long-time realtor, I believe that the market moves in cycles. I've witnessed and lived through it as things went really dry a couple of times in my dad's career. I don't think we've seen the trough in this market yet.

Are there any sites with local commentary that you follow?

Kev

Thanks! Any run-ins are not taking personally (unless you're a moderator and ban me to shut me up ), so please don't read too much into my sarcasm, I tend to get carried away.

I wish more FTB knew the ups/downs of the real estate industry. Many (myself included, I'm 31yo) have only ever seen the ups, as most of the 90s was flat, then took off in 2002.

I think I've posted them before:

http://vancouvercondo.info/
http://agentwill.com/
http://whispersfromtheedgeoftherainforest.blogspot.com/
http://www.chineseinvancouver.ca/category/real-estate/
http://www.yattermatters.com/

Some sites are Realtors and are biased, yet it is good to know the bias. My personal favourite is VancouverCondoInfo, especially the comments where many people post the latest news.

[goo3]

Originally Posted by taylor192

No, I'm content to park my money in safe investments for while. RBC prefered shares pay 6+% dividend, which cause dividends are tax advantaged is like making 8+% of capital gains.

What's the exit plan and time horizon on these bank preferred shares? In particular, you'll eventually want to cash out. You'll collect a dividend, but how do you know your investment won't drop 20% when you want your money back?

[taylor192]

Originally Posted by goo3

What's the exit plan and time horizon on these bank preferred shares? In particular, you'll eventually want to cash out. You'll collect a dividend, but how do you know your investment won't drop 20% when you want your money back?

I don't have an exit strategy (no short term use for the money) so short term fluctuations don't matter.

How do I know any investment won't drop 20%? You don't, thus you build a balanced portfolio to deal with the ups and downs of different asset classes. This is why I want the majority of my money out of real estate, to spread out the risk of ups and downs.

Besides, even if it did drop, making 7% tax-advantaged dividend every year is better than just owning common stock that may also fall yet didn't pay a dividend.

[waddy41]

^ If you don't mind, can you let us know what's currently in your portfolio and what you're planning to purchase?

[taylor192]

Originally Posted by waddy41

^ If you don't mind, can you let us know what's currently in your portfolio and what you're planning to purchase?

That I would prefer not to. I don't mind giving advice, yet I don't want to be subject to others complaints if they copy me exactly and my investments tank as some have. There are investment advisers who get paid very good money to do this for you, use them. I will be soon when I get the money for my sold house.

I will say I have a variety of accounts. From mutual funds at a big bank, to stock purchases on my iTrade account.

[Ducdesmo]

Originally Posted by taylor192

I don't have an exit strategy (no short term use for the money) so short term fluctuations don't matter.

How do I know any investment won't drop 20%? You don't, thus you build a balanced portfolio to deal with the ups and downs of different asset classes. This is why I want the majority of my money out of real estate, to spread out the risk of ups and downs.

Besides, even if it did drop, making 7% tax-advantaged dividend every year is better than just owning common stock that may also fall yet didn't pay a dividend.

The current instability in the financial sector does not look promising in the long run, especially with all of the financial fraud being exposed, the public is losing confidence in it. I see a downward trend to be honest, but you can probably capitalize on some dips throughout the next few years.

Preferred shares is great, but I would invest in another sector not as volatile.

[What_the?]

great to have you back taylor192... it's reading your discussions that make me wish I pursued an education in business instead of healthcare so I would be able to make as much sense of financial logic as you do... As it stands, my financial understanding still lies in the beginner/moderate stages, from whatever I can learn on my own, but I shall keep learning as I go of course...

Looking forward to more insight on the real estate market from you and Chuck Norris...

[Gnomes]

I came into the business + financial not expecting much. Low and behold I found this! Thanks Taylor for your informative insights.

[taylor192]

Originally Posted by Gnomes

I came into the business + financial not expecting much. Low and behold I found this! Thanks Taylor for your informative insights.

Thanks for the kind comments

My goal is to help young people make good informed decisions. I bought a house in 2004 cause of the typical "owning a house is the path to riches" that has become all too common. I was not entirely informed, and I got lucky. I do not want to repeat that mistake, nor see others repeat it.

[willystyle]

Taylor, are there any books that you can recommend for real estate investment, particularly in the US?

[Gnomes]

nevermind

[goo3]

^ isn't that what the red line is for? real dollars?