Who is buying houses in Canada , there are no jobs , there are no doctors, some times it takes more than a year to get a specialist appointment, it’s just demand and supply that people land as engineers into this country and become real estate agents in 6 months. Canada needs more doctors, nurses and less of property dealers.
Honestly, even if there were jobs available, not many of them would pay enough to buy these houses at these prices and interest rates that they are now....I don't think housing is any more affordable...
Greed of money😂😂😂😂 just live a simple life and work and take care of your kids and don't take any risk when you are married and especially have kids. I have HELOC and another line of credit. I never used them and never bothered to buy investment property. My goal is to pay off the primary house and leave for the kids.
Buddy, that is a very unfair and judgmental statement. The only problem here is improper money management by this couple. It is not a matter of wrong usage of HELOC. For example, even if this is your first home and even if you have $100k in cash, you should not use the entire amount as a down payment. The same problem can occur for anyone, and they could end up losing all their money. What you should do is use only 50-60% of your money and calculate the risks involved, such as emergency funds, job loss, depreciation, etc. Take your time with your decisions. Do not rush into any investments. You need to be patient, just like Nav bro is doing. He has a huge HELOC available from all his equities, but he has only used $45k of that and is still very careful and calculated in assessing the risks involved, which he can bear. For your case, keeping one primary house is not completely risk-free. There are many risks involved, such as paying mortgages regularly, which can become troublesome with job loss or recession, causing the current interest rates to spike to even 7%, doubling your mortgage payment. Global crises and political situations are not very investor-friendly. Other problems could include personal and health-related issues or natural calamities leading to house damages. What are the solutions for these risk-bearing capacities? Insurance can help partly. This is not meant to scare anyone, but to encourage everyone to calculate and think about how to manage all the risks involved.
Buddy, that is a very unfair and judgmental statement. The only problem here is improper money management by this couple. It is not a matter of wrong usage of HELOC. For example, even if this is your first home and even if you have $100k in cash, you should not use the entire amount as a down payment. The same problem can occur for anyone, and they could end up losing all their money. What you should do is use only 50-60% of your money and calculate the risks involved, such as emergency funds, job loss, depreciation, etc. Take your time with your decisions. Do not rush into any investments. You need to be patient, just like Nav bro is doing. He has a huge HELOC available from all his equities, but he has only used $45k of that and is still very careful and calculated in assessing the risks involved, which he can bear. For your case, keeping one primary house is not completely risk-free. There are many risks involved, such as paying mortgages regularly, which can become troublesome with job loss or recession, causing the current interest rates to spike to even 7%, doubling your mortgage payment. Global crises and political situations are not very investor-friendly. Other problems could include personal and health-related issues or natural calamities leading to house damages. What are the solutions for these risk-bearing capacities? Insurance can help partly. This is not meant to scare anyone, but to encourage everyone to calculate and think about how to manage all the risks involved.
Nice of you to give out real numbers with consequences of what can go wrong specially these days when people are not planning for worst case scenarios. Great job Nav!
8:29 - Between 2008-2021, people were able to pay aggressively toward their house loans because (1) house prices and hence payments were low (2) interest rates were as low as 0.99%. In today’s era, interest rates are 6.5%, so at least 65% of your monthly payments are going toward interest for the first 7-10 years. It is so hard to contribute to the principal without making accelerated or lumpsum payments. You need to sacrifice on food if you want to pay off your house faster. But that wasn’t the case in 2017, when money was free
Well covered all crucial points on the subject, well done🎉 Please also make a comprehensive video on assignment sale and purchase covering purchaser and seller's point of view.
People went crazy buying properties on mortgages in greed of unrealistic and unsustainable appreciation along with greed to make huge money by exploiting already struggling students renting such properties. In short it’s horrible situation for every one now.
Hi Nav, Could you please make a video explaining the concept of “rent to own”. Just wanted to understand advantages and disadvantages of the technique.
Key point missed is that HELOC interest in simple interest. Meaning payments doesn’t cover the principal. It is very similar to paying interest on credit card balances.
E.g # 2 is wrong your client would have mitigated the risk by getting the approval from bank in advance. Usually builder's give 15days in case if client's bank doesn't give them approval they can come out of this deal.
@@growwithnav Well that's what my point...get the approval at the start as banks can do drive through appraisal based on close proxy properties and based of purchase agreement and blue prints even it's just a pc of land on pre construction properties. If they would have done it before waiving conditions with the builder they would not lose 150k.
Bro you make it so simple for laymen like us. Its like we come to school, take your lessons, gain something, qualify to next grade! Keep it up. And yes, lets meet soon. Investment Canada Group ;)
Can’t you hire an attorney and fight the case against the builder either to reduce down the originally agreed price or return back the deposit? I have heard such cases happen in US and state protects buyers usually.
Any video/ advice on how to evaluate properties especially over 50 yrs old? I see many options which make sense cost wise but concerned about maintenance and associated costs
@@growwithnav thanks a lot for your response. Also old properties have building materials like asbestos which are clutter y try not used. How important do you think such factors are while determining purchase
Real estate is always a long-term thing.....if your finances doesn't support long-term purchase, don't go for it... Realtors, mortgage agent and developers all will make money except you....don't fall into their unrealistic stories......
Learning a lot from your videos, Thanks very much for making these kinds of videos, especially the mistakes first-time home buyers make. Could you please suggest any Quebec Mortgage agents or youtube channels you recommend for first-time home buyers? Thanks again :)
Thank you :) The rules are the same in Quebec, so my videos work for anywhere in Canada. We help with mortgage across canada, except Quebec :/ I don’t know any good agent there unfortunately.
@@growwithnav Thanks for your quick response. Also can we have co-broker who is from Quebec and will be in contact with Ontario mortgage broker? Is this suggestable?
This is what happens when money is invested without doing any due diligence and without any market research, when you buy in a bubble eventually it will burst one day.
This has got nothing to do with market research or due diligence. Property prices went downhill after 2022 and no body could have predicted that. The key point is to be ready to take financial losses when you take such unwarranted risks using HELOC etc.
@@dsinghr Initially when the prices were rising at such a fast pace without any historical evidence of such rise in real estate prices of canada due to acute shortage of houses and investors from all over the world parking their money in Canda one should know that this is a bubble and investing in such bubble will lead to market crash one day when market correction happens and demand and supply is equalized. One should know what they are buying is really worth that money or it is just inflated due to temporary sudden rise in demand of that product/property. Like in the example he quoted that person bought a condo at such a high price with no proper justification of why the price is so high it’s common sense that if everyone wants something and that is being produced in limited quantity prices will rise but eventually when market equilibrium is back prices will come back crashing down.
I have been watching investment and HELOC videos since 2019. Nav this is the best video till now and best content with real numbers, thanks for awesome content, I learned a lot even though I know quite a lot about HELOCs , thanks again
Bad advise switches with market conditions.This guys was telling people to buy homes using heloc and now market turned bad. Changed his carrier to become mortgage agent and like he said must have made lot of commission. USA 🇺🇸 visa got canceled how do you access your rental property now.
@msingh he made a detailed video on it with his wife. He was all about buy home use heloc till the market was good. What certificate he has to advise others when he himself makes bad decisions?
They can sell home and go for 1 year rental in same area so space and schools r not compromised. buy condo as investment property .. this option wasn’t considered ?
1st of all why every one wants to buy the house. Specifically the new immigrant. 1st get stable and adapt the culture and than make a move.. But i guess everyone wants to be a millionaire over night.
Great video. However , I didn't understand the last point there about paying down your $40K HELOC By refinancing your new condo bldg and pulling money out of there. That is also a loan that you owe isnt it? Just curious on how one is better than the other? Thnx
Just a question: even if they have used their own money instead of HELOC of $180,000. Wouldn't they still be prone to lose their money provided the situation there were in?
This dudes channel is full of sensible information still the number of followers r only 11k after more than a year of videos and hard work. If this was a lifestyle channel where the creator was showing things like going to sleep, brush, eat etc there would have been 100k followers or more
Great video. But you would still have to pay the US debt right ? Just wondering why would you finish a debt with another debt. May be lower interest rate is my guess. The client example is a typical one for the canadian debt trap
Thanks for the informative video Nav. Just a quick question - I see in your example you constantly monitor if you property is going up and by how much. Just wanted to ask how do you value it? The example where you said with $20k home improvement your house price went up or the US property went up by 200k+ Thanks
@@growwithnav agreed but your debt is in canadian real estate as Heloc , and in US u are considered as investor regardless how u your world income is coming no ? Unless you are also a US citizen .. then u are not a alien and get tax credit..
The Heloc to GIC etc can be used to execute Smith Manoeuvre? I dont think it can be brushed off like that. Also please use a black board and not a white board graphics. Its killing our eyes.
Smith Manoeuvre isn’t for everyone :) especially in this environment, but I agree that’s one good tax strategy. Black board wasn’t legible, and people asked for white 😀
@@growwithnav A mention about Smith Manoeuvre would have been better. With dark mode in everything and OLED screens and going green stuff, which way to go is quite evident.
Didn’t u did the same and brought two pre-construction properties ? One in Calgary on partnership and the condo in ON and also took a HELOC (which you said you didn’t spend). Why are you the advising that pre construction are a no no ?
I bought it in a Different time - 2020 and 2021. Asset classes aren’t the same every year. And precon delivering in 2024-26 is not the best idea for most projects because of the unstable economic environment. 2027-29 will be good. Video coming soon Sunday.
Very informative Nav 👍 I was just wondering are you a mortgage agent or a principal broker, coz I am looking for a brokerage to join. Any suggestions? 😊
Amazing details. It’s difficult to step into RE without complete knowledge and small capital. That is why I focus on the stock market 🙌🏻 and make 30% CAGR
I don’t have any reason to lie 🙏 and it’s completely fine with me if you don’t want to believe. I don’t even do mortgages in US. Infact, I would gain from talking shit about US, so that people buy in canada and I can make a commission.
You are dreaming a lot, do not expect high rents in Ohio, it’s difficult to get those in CA too. If you don’t get the rents for 6 months but you still have to pay Mortgages, even if you have partners it won’t be easy, HELOC is a trap too, the ladder that goes up also comes down. Calculate your Mortgage amount every month of condo with 30 years I’ll be more than 1.3 to 1.5 million approx, n what if you or spouse loses job? It’s full of uncertainties. People who have too much money in India can think the way you do…
Still better than India by far. In India most people will never afford a home as it's 20-30X their annual pay (right now it's averaging about $7000 usd per annum per capita) secondly it's in Ohio. That's like Manitoba or Saskatchewan I'm sure you'll get a great house there for that kinda money
Who is buying houses in Canada , there are no jobs , there are no doctors, some times it takes more than a year to get a specialist appointment, it’s just demand and supply that people land as engineers into this country and become real estate agents in 6 months. Canada needs more doctors, nurses and less of property dealers.
Honestly, even if there were jobs available, not many of them would pay enough to buy these houses at these prices and interest rates that they are now....I don't think housing is any more affordable...
Greed of money😂😂😂😂 just live a simple life and work and take care of your kids and don't take any risk when you are married and especially have kids. I have HELOC and another line of credit. I never used them and never bothered to buy investment property. My goal is to pay off the primary house and leave for the kids.
🙌🙌
Perfectly said
Buddy, that is a very unfair and judgmental statement. The only problem here is improper money management by this couple. It is not a matter of wrong usage of HELOC. For example, even if this is your first home and even if you have $100k in cash, you should not use the entire amount as a down payment. The same problem can occur for anyone, and they could end up losing all their money. What you should do is use only 50-60% of your money and calculate the risks involved, such as emergency funds, job loss, depreciation, etc. Take your time with your decisions. Do not rush into any investments.
You need to be patient, just like Nav bro is doing. He has a huge HELOC available from all his equities, but he has only used $45k of that and is still very careful and calculated in assessing the risks involved, which he can bear.
For your case, keeping one primary house is not completely risk-free. There are many risks involved, such as paying mortgages regularly, which can become troublesome with job loss or recession, causing the current interest rates to spike to even 7%, doubling your mortgage payment. Global crises and political situations are not very investor-friendly. Other problems could include personal and health-related issues or natural calamities leading to house damages. What are the solutions for these risk-bearing capacities? Insurance can help partly.
This is not meant to scare anyone, but to encourage everyone to calculate and think about how to manage all the risks involved.
Same
Buddy, that is a very unfair and judgmental statement. The only problem here is improper money management by this couple. It is not a matter of wrong usage of HELOC. For example, even if this is your first home and even if you have $100k in cash, you should not use the entire amount as a down payment. The same problem can occur for anyone, and they could end up losing all their money. What you should do is use only 50-60% of your money and calculate the risks involved, such as emergency funds, job loss, depreciation, etc. Take your time with your decisions. Do not rush into any investments.
You need to be patient, just like Nav bro is doing. He has a huge HELOC available from all his equities, but he has only used $45k of that and is still very careful and calculated in assessing the risks involved, which he can bear.
For your case, keeping one primary house is not completely risk-free. There are many risks involved, such as paying mortgages regularly, which can become troublesome with job loss or recession, causing the current interest rates to spike to even 7%, doubling your mortgage payment. Global crises and political situations are not very investor-friendly. Other problems could include personal and health-related issues or natural calamities leading to house damages. What are the solutions for these risk-bearing capacities? Insurance can help partly.
This is not meant to scare anyone, but to encourage everyone to calculate and think about how to manage all the risks involved.
Nice of you to give out real numbers with consequences of what can go wrong specially these days when people are not planning for worst case scenarios. Great job Nav!
8:29 - Between 2008-2021, people were able to pay aggressively toward their house loans because (1) house prices and hence payments were low (2) interest rates were as low as 0.99%.
In today’s era, interest rates are 6.5%, so at least 65% of your monthly payments are going toward interest for the first 7-10 years. It is so hard to contribute to the principal without making accelerated or lumpsum payments. You need to sacrifice on food if you want to pay off your house faster. But that wasn’t the case in 2017, when money was free
It’s a phase. It will pass. Recessions come ever 10 years.. nothing new. It’s just new to us
Well covered all crucial points on the subject, well done🎉
Please also make a comprehensive video on assignment sale and purchase covering purchaser and seller's point of view.
Very well explained , keep up the good work !
🙌
People went crazy buying properties on mortgages in greed of unrealistic and unsustainable appreciation along with greed to make huge money by exploiting already struggling students renting such properties. In short it’s horrible situation for every one now.
Hi Nav,
Could you please make a video explaining the concept of “rent to own”. Just wanted to understand advantages and disadvantages of the technique.
Key point missed is that HELOC interest in simple interest. Meaning payments doesn’t cover the principal. It is very similar to paying interest on credit card balances.
Very interesting information. However, some youngsters might just get excited and go overboard with taking risk.
I commented just for RUclips algorithm so that more Canadian knows your good work
That is so nice!! Thank you 🙌
If my primary home is on rent and cashflow positive, can I use HELOC to put cashdown on my next home if I’m upgrading
E.g # 2 is wrong your client would have mitigated the risk by getting the approval from bank in advance. Usually builder's give 15days in case if client's bank doesn't give them approval they can come out of this deal.
They had the pre-approval. The bank put an appraisal condition :) why would a bank lend you more than what the house is worth?
@@growwithnav Well that's what my point...get the approval at the start as banks can do drive through appraisal based on close proxy properties and based of purchase agreement and blue prints even it's just a pc of land on pre construction properties. If they would have done it before waiving conditions with the builder they would not lose 150k.
Bro you make it so simple for laymen like us. Its like we come to school, take your lessons, gain something, qualify to next grade! Keep it up. And yes, lets meet soon. Investment Canada Group ;)
🙌🙌
Can’t you hire an attorney and fight the case against the builder either to reduce down the originally agreed price or return back the deposit? I have heard such cases happen in US and state protects buyers usually.
There is nothing to fight about. They signed a contract, they have to complete the purchase per the contract.
Any video/ advice on how to evaluate properties especially over 50 yrs old?
I see many options which make sense cost wise but concerned about maintenance and associated costs
I like old properties. Just ensure we do an inspection before buying to ensure no major expenses.
@@growwithnav thanks a lot for your response.
Also old properties have building materials like asbestos which are clutter y try not used.
How important do you think such factors are while determining purchase
Best way to use heloc : Don’t
Real estate is always a long-term thing.....if your finances doesn't support long-term purchase, don't go for it...
Realtors, mortgage agent and developers all will make money except you....don't fall into their unrealistic stories......
💯
Learning a lot from your videos, Thanks very much for making these kinds of videos, especially the mistakes first-time home buyers make. Could you please suggest any Quebec Mortgage agents or youtube channels you recommend for first-time home buyers? Thanks again :)
Thank you :)
The rules are the same in Quebec, so my videos work for anywhere in Canada. We help with mortgage across canada, except Quebec :/
I don’t know any good agent there unfortunately.
@@growwithnav Thanks for your quick response. Also can we have co-broker who is from Quebec and will be in contact with Ontario mortgage broker? Is this suggestable?
Very well said..
This is what happens when money is invested without doing any due diligence and without any market research, when you buy in a bubble eventually it will burst one day.
This has got nothing to do with market research or due diligence. Property prices went downhill after 2022 and no body could have predicted that. The key point is to be ready to take financial losses when you take such unwarranted risks using HELOC etc.
@@dsinghr Initially when the prices were rising at such a fast pace without any historical evidence of such rise in real estate prices of canada due to acute shortage of houses and investors from all over the world parking their money in Canda one should know that this is a bubble and investing in such bubble will lead to market crash one day when market correction happens and demand and supply is equalized.
One should know what they are buying is really worth that money or it is just inflated due to temporary sudden rise in demand of that product/property.
Like in the example he quoted that person bought a condo at such a high price with no proper justification of why the price is so high it’s common sense that if everyone wants something and that is being produced in limited quantity prices will rise but eventually when market equilibrium is back prices will come back crashing down.
Condo - in edmonton can pay positive cash flow, thoughts please
I have been watching investment and HELOC videos since 2019. Nav this is the best video till now and best content with real numbers, thanks for awesome content, I learned a lot even though I know quite a lot about HELOCs , thanks again
Isnt the prime 7.2 right now?
Prime rate is 7.2 in Canada not 7.70
Yes… thanks for pointing that. It was a slip of tongue … heloc is at 7.7
Enriching video, Nav!
🙏🙏
Bad advise switches with market conditions.This guys was telling people to buy homes using heloc and now market turned bad. Changed his carrier to become mortgage agent and like he said must have made lot of commission. USA 🇺🇸 visa got canceled how do you access your rental property now.
🤔 His US visa got cancelled how do you know ?.
@msingh he made a detailed video on it with his wife. He was all about buy home use heloc till the market was good. What certificate he has to advise others when he himself makes bad decisions?
@@msingh683 see this video as they were you tubers and werent supposed to work in usa
How can I contact you? I am looking forward to book pre construction house and would really appreciate to get information from you
Just the video I was waiting for
🙌
How come you didn't mention about tax deduction on investment property.
Smith maneuver? That’s a very advanced technique.. too much for a video like this :)
Perfect example!! When HELOC can lock in your shit and you no more can shit and are stuck !!
How u get into Ohio property.. how u connected to partners
They can sell home and go for 1 year rental in same area so space and schools r not compromised. buy condo as investment property .. this option wasn’t considered ?
It was considered. But they don’t want to leave their home. They are well settled.
1st of all why every one wants to buy the house. Specifically the new immigrant. 1st get stable and adapt the culture and than make a move.. But i guess everyone wants to be a millionaire over night.
Very informative Nav, keep up the great work and keep sharing the valuable knowledge!!
Thank you 😊
Great video. However , I didn't understand the last point there about paying down your $40K HELOC By refinancing your new condo bldg and pulling money out of there. That is also a loan that you owe isnt it? Just curious on how one is better than the other? Thnx
Just a question: even if they have used their own money instead of HELOC of $180,000. Wouldn't they still be prone to lose their money provided the situation there were in?
Yes, the only bad luck they had was they lost the value on the Pre-con project. HELOC or not, loss was inevitable.
This dudes channel is full of sensible information still the number of followers r only 11k after more than a year of videos and hard work. If this was a lifestyle channel where the creator was showing things like going to sleep, brush, eat etc there would have been 100k followers or more
Thank you 🙌
Lets the herds stay away
Bro , Desi population in canada is only so much .. for desis elsewhere this info is not relevant
Bro check his other channel @potatotalkies
Hi Nav, how do I get in touch ?
Link in the description
Great video. But you would still have to pay the US debt right ? Just wondering why would you finish a debt with another debt. May be lower interest rate is my guess. The client example is a typical one for the canadian debt trap
My rent has increased by $2000. Payment increased by $800. I make cashflow and use that to pay off in 30 years.
Thanks for the informative video Nav. Just a quick question - I see in your example you constantly monitor if you property is going up and by how much. Just wanted to ask how do you value it? The example where you said with $20k home improvement your house price went up or the US property went up by 200k+
Thanks
Appraisal :)
You can also look at comparables in the area for a similar property.
@@growwithnav Appraisal is given by bank?
How often do they give you?
Yes - when you refinance, the bank orders it - we pay for it.
Using Debt to buy more Real estate Assets is a good Bet. But You need to have Good Catch and knowledge how to balance your debts.
did u also consider non-resident withholding tax for rental real estate property in US , its ~30% on the gains.
Not on debt :)
@@growwithnav agreed but your debt is in canadian real estate as Heloc , and in US u are considered as investor regardless how u your world income is coming no ? Unless you are also a US citizen .. then u are not a alien and get tax credit..
The Heloc to GIC etc can be used to execute Smith Manoeuvre? I dont think it can be brushed off like that. Also please use a black board and not a white board graphics. Its killing our eyes.
Smith Manoeuvre isn’t for everyone :) especially in this environment, but I agree that’s one good tax strategy.
Black board wasn’t legible, and people asked for white 😀
@@growwithnav A mention about Smith Manoeuvre would have been better. With dark mode in everything and OLED screens and going green stuff, which way to go is quite evident.
@@pking0Which a best institution for Smith manvoure.
Keep up the great work! Really good video!
🙌
Didn’t u did the same and brought two pre-construction properties ? One in Calgary on partnership and the condo in ON and also took a HELOC (which you said you didn’t spend). Why are you the advising that pre construction are a no no ?
I bought it in a Different time - 2020 and 2021.
Asset classes aren’t the same every year.
And precon delivering in 2024-26 is not the best idea for most projects because of the unstable economic environment. 2027-29 will be good. Video coming soon Sunday.
Very informative, thank you
Can a PR holder in Canada buy Real estate in USA?
Yes
But their primary home is still worth more than 270+180 that they took.. they can do refinance right
Yes that’s what we are doing
Very informative Nav 👍 I was just wondering are you a mortgage agent or a principal broker, coz I am looking for a brokerage to join. Any suggestions? 😊
I am a mortgage agent :) not a brokerage
Won't you be paying taxes on refinance amount from your Ohio property? Since, property is in US and you will be paying off your HELOC in CA?
When you refi, you take out debt which can’t be taxed. It’s not a sale and there is no capital gain - so no tax.
@@growwithnav but you are bringing the money in CA from your US investment.
It’s still debt that I am bringing. Debt can’t be taxed.
I want to be part of your next joint venture!
Very informative
Very informative, Nav!
The right way to use HELOC: dont.
Amazing details. It’s difficult to step into RE without complete knowledge and small capital. That is why I focus on the stock market 🙌🏻 and make 30% CAGR
🔥🙌
I miss seeing simrat although I understand this is your passion....I hope she's well!
She is good 😀
Informative video
This looks all good on paper. Can you pls show us actual evidence that you made money and paid your debt ? Else it’s all a FUGAZY
I don’t have any reason to lie 🙏 and it’s completely fine with me if you don’t want to believe. I don’t even do mortgages in US. Infact, I would gain from talking shit about US, so that people buy in canada and I can make a commission.
@Navjoy you are killing it man !!! Just too good bro !!
Thank you 🙏
Good Job Nav.. Keep posting these informative videos.
🙌👍
@@growwithnav have you got your G license?
Sir just a suggestion, plz make some videos in hindi as well
I make them in English so that South Indians can also understand.
Hindi or punjabi is OK because his English language is not soft speaking hard to understand 😂
You should make it then. Maybe I can learn.
paji ka to ghar gayo
Video binna dekhe? 😀
sab theek hai na… you want others to fail?
You are dreaming a lot, do not expect high rents in Ohio, it’s difficult to get those in CA too. If you don’t get the rents for 6 months but you still have to pay Mortgages, even if you have partners it won’t be easy, HELOC is a trap too, the ladder that goes up also comes down. Calculate your Mortgage amount every month of condo with 30 years I’ll be more than 1.3 to 1.5 million approx, n what if you or spouse loses job? It’s full of uncertainties. People who have too much money in India can think the way you do…
You purchased 8 unit for $445K and here in shithole Canada you would be lucky to buy a single townhome in that price range.
Still better than India by far. In India most people will never afford a home as it's 20-30X their annual pay (right now it's averaging about $7000 usd per annum per capita) secondly it's in Ohio. That's like Manitoba or Saskatchewan I'm sure you'll get a great house there for that kinda money