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Condo study reveals surprising stats

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A new 10-year study debunks the myths about condo maintenance fees, offering investors a clearer picture of this lucrative investment option. But one condo expert says investors should not base their buying decisions by solely comparing the average maintenance fees from building to building. “Though this may be helpful, it’s important to delve deeper and look at the trends,” advised Freedom Malhotra, a sales representative at Kingsway Real Estate Brokerage and founder of Condo Planet. …

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5 steps to avoid the tenant from hell

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Investing in income properties can be an amazing way to generate monthly income and ultimately contribute to a retirement plan. Along the way, however, we all experience multiple challenges – poor tenants being one of them. Some tenants will be obvious bad choices, but others know how to hide their secrets well enough that they often seep through the cracks of selection. So how do we learn to identify these not-so-obvious tenants from hell? 1. Conduct …

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What’s in store for the housing market in 2015?

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There has been much speculation on what the housing market will do in 2015. Independent of the decline in oil prices and changes to the interest rate, there is a broad moderating trend across Canada’s housing market that is pushing towards lower levels of activity and appreciation, said Phil Soper, president and CEO of Royal LePage. Speaking to a room of industry professionals at yesterday’s Empire Club of Canada lunch, Soper added: “Relative to the growth in wages, home …

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To fix-up or forget it? Simple renos to make a home your own when buying a house in the Okanagan

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If you’re on the verge of buying a house in Kamloops or anywhere in the Thompson Okanagan, and that house isn’t exactly turn-key, don’t walk away from it just yet. Since Kelowna mortgage rates are low right now and there are some good finds out there, you can save heaps on your house and make it all your own with just a few simple renovations. The extra money you save buying a lower-priced house means …

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Buying a House in BC: Are You the Average First-Time Home Buyer?

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How much are you planning to spend on your first home? How much are you going to put down, and how long do you think it’ll take you to be mortgage-free? You might be surprised by the statistics, but Kamloops mortgage brokers aren’t. The Home Buying Report just released by BMO paints a portrait of the new first-time home buyer in Canada, and in BC, that picture is pretty different. The report shows most people …

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