I have a very high quality mic but had some technical difficulty with the sound on this one ( Every now and then it happens) . I'm currently traveling in NYC & Miami and do not have time to re-shoot or fix. I told my webmaster to post a pinned comment at the top explaining this but he has forgotten to. Will be fixed for next week's update
Every now and then my external Fifine microphone disconnects and the computer will then default over to a built-in microphone (and it's not obvious at all when this happens)
Wish I had the cash to get into that 1515 building. Also I remember hearing someone say you will own nothing and be happy . Looks like their plan is coming together .
I agree with you 100%, I have seen this movie before in NYC in late 1990's In Toronto when I moved there around 2002 and than London ON 2012's and Ottawa in the 2017's and I had my eyes on the Vancouver market for a while and the trend had already started and for those smart investors out there that are patient and can get your hands on as many properties as you can you will laugh your way to the bank and send Owen on an all paid for vacation to Hawaii. He is on point and no polititian or mainstream media will ever tell you this. When someone who has as many years of experience as Owen with lots of skin the game is calling out to warn you and help you build your "freedom plan" all you can do is follow his advice and give yourself a fighting chance! Thanks again Owen for the great golden nuggets you keep dropping. I have been applying the same principles over the past 15 years my only regret is ... ? Why did I not start earlier. God Bless !
My only regret was wishing I I didn’t buy the most expensive house I could afford at the time the market skyrocketed in 2015. Regret not borrowing up to my max. Now I’m paying catch up, and spending more on transaction fees as I upgrade.
Great points, Owen! By fixing house market issues with quick and popular actions, NDP government just makes the situation worse in the long term. But no doubts they'll find someone to blame (highly likely it will be "greedy landlords") if they will be in power by that time. And they play the big real estate investors' game allowing them to gain the rental market share for decades ahead and control the renters population whatever they want.
Owen, I have an interesting situation. I make 130K and have saved 150K for downpayment. Last week my broker said I'd be approved from First Nat at 5.5% for a 5 year fixed. I'm only approved for 380K loan so max would be 530K purchase. I'm shocked at the amount of 380K I have perfect credit etc. NOW I'm thinking I go plan B, buy a basic 1 bed/studio and keep it for ever, rent it out. This will secure me long term, I'll move out of country (I work remote) while I save up another few years for another deposit. Mexico here I come.
Dumb idea. Just explore another lender who’ll lend you more such as a B lender and push up your first mortgage to higher balance, allowing you to get into a one bed for $600K to $700K in DT. You’ll pay a higher rate but at least you’ll get a better product and don’t need to move.
@@AR-el1kmfacts 💯 location location location. What do you do to earn 130k a year? How old are you? I love how the new generation is so transparent. The old generation would always be hush hush about any sort of numbers, especially salary pay.
Man. It has sure gone insane here since Covid. Looks like their plan is working. Going to be interesting how many Starbucks and restaurants are left if no one can even afford rent.
Yep.. condos that were getting $2200 a month in 2019 are now getting $3,000-$3200. It's not going to get any better for renters moving forward. NDP has sealed their fate with their war on landlords the past 4 years. Now if you can believe it they want guys like me to build 4 plexes and go into partnership with them providing housing for the missing middle. Good luck with that! Stay tuned for a video on this coming soon.
This is 💯 truth but some people will keep running to the bloggers and RUclipsrs promoting the big "crash". It never comes and they get further behind as rent and buying prices keep rising. Surrey 1 bedrooms are going for around $2000 now with no shortage of demand.
More rentals are good for the building owners. However realtors are missing bigtime realtor's commission money which otherwise would have been sold with premium amount to potential buyers. Waiting to see how all these things will change drastically once interest rates go down. Not sure how realtors will survive eventually not selling downtown condos if they are operating in that area. Some old realtors with passive income may survive other new realtors who are studying real estate courses in UBC for them it is a dead end of the career.
Real Estate has always been a feast or zero business and always will be.. I don't think many people realize that most Realtors are making very little money and are just buying time until they leave the business. For every 100 new Realtors 75- 80 will be gone after 1 year 95 will be out of the business after 4 years. There are currently 15000 Realtors in the Vancouver RE board. The top 10% do about 75% of the total business. 50% of the Realtors do zero deals in the calendar year.. ie zero income but probably have $10-$15,000 in expenses every year just to keep their licence. It's tough business to get established in... odds are heavily stacked against you to make a successful career RE. To make a decent living you would need to do at least 15 -20 ends a year ( An end is a buy or sell side transaction i think the average number of ends in the Vancouver Board is 3.5 ends for 2022.
I searched that up too. There are a couple under 400k in Richmond along sky train, but bachelor pads. Also, a few for mid 400's - also small.. one bedroom types.
Same thing happening in the Niagara Falls area. All these big impressive projects that seem like condo but turn out yo be rental. These places are nice but expensive
The city seems to think these superlux condos will be too expensive, so lets just not build them. They dont seem to understand that this frees up condos at the lower end of the housing ladder. Very frustrating. Im sure mr Kennedy the NDP renter likes this plan.😂
Renters make up most of the NDP's renter base. Socialist Governments want to keep you in that poor and it's not your fault twilight zone.. Vote for us and we'll tax the bad guys and build you some more rental housing. People keep falling for it! Governments are not your friend no matter what the party.. They're not here to help or save you! all they want to do is buy votes, get elected and get that easy free ride and pension. The sooner people figure this out and start focusing on what they have controll over in this life like getting into a good career and making more $$$ and tuning out the politics they will be far better off and on there way to a happy and successful life. Follow my lead and do everything you can from having to rely on Government for anything! Pay your taxes , renew your drivers lic and passport and distance yourself from everything else the government has to offer.
@OwenBigland Hi Owen, have you ever regretted selling a place you owned? Assuming you sold it, to invest in the stock market etc. Do you still own your first principal residence? In an old video of yours, I recall you mentioned you sold your detached home?? Would you consider that a mistake you’ve made?
Hi Jason Good question.. stay tuned i will do a video on this. The answer is no i have not because i have always sold to buy something else but will go into more detail in the video. Not all my sales have been monetary.. often i have bought and sold based on lifestyle.
I have a very high quality mic but had some technical difficulty with the sound on this one ( Every now and then it happens) . I'm currently traveling in NYC & Miami and do not have time to re-shoot or fix. I told my webmaster to post a pinned comment at the top explaining this but he has forgotten to. Will be fixed for next week's update
I have a very high quality mic but had some technical difficulty with the sound on this one
( Every now and then it happens) . I'm currently traveling in NYC & Miami and do not have time to re-shoot or fix. I told my webmaster to post a pinned comment at the top explaining this but he has forgotten to. Will be fixed for next week's update
Not to worry , I knew it was going to be fixed! That’s why I did not say anything ! Have a great time Owen !
Every now and then my external Fifine microphone disconnects and the computer will then default over to a built-in microphone (and it's not obvious at all when this happens)
Opp ppl pppppppppppoo😊
Wish I had the cash to get into that 1515 building. Also I remember hearing someone say you will own nothing and be happy . Looks like their plan is coming together .
I agree with you 100%, I have seen this movie before in NYC in late 1990's In Toronto when I moved there around 2002 and than London ON 2012's and Ottawa in the 2017's and I had my eyes on the Vancouver market for a while and the trend had already started and for those smart investors out there that are patient and can get your hands on as many properties as you can you will laugh your way to the bank and send Owen on an all paid for vacation to Hawaii. He is on point and no polititian or mainstream media will ever tell you this. When someone who has as many years of experience as Owen with lots of skin the game is calling out to warn you and help you build your "freedom plan" all you can do is follow his advice and give yourself a fighting chance! Thanks again Owen for the great golden nuggets you keep dropping. I have been applying the same principles over the past 15 years my only regret is ... ? Why did I not start earlier. God Bless !
My only regret was wishing I I didn’t buy the most expensive house I could afford at the time the market skyrocketed in 2015. Regret not borrowing up to my max. Now I’m paying catch up, and spending more on transaction fees as I upgrade.
Klaus Schwab made it clear of our future: "you will own nothing, and be happy." It is starting to manifest! 😮
Great points, Owen! By fixing house market issues with quick and popular actions, NDP government just makes the situation worse in the long term. But no doubts they'll find someone to blame (highly likely it will be "greedy landlords") if they will be in power by that time. And they play the big real estate investors' game allowing them to gain the rental market share for decades ahead and control the renters population whatever they want.
Agree.. stay tuned for a few more videos on this soon.
Owen, I have an interesting situation. I make 130K and have saved 150K for downpayment. Last week my broker said I'd be approved from First Nat at 5.5% for a 5 year fixed. I'm only approved for 380K loan so max would be 530K purchase. I'm shocked at the amount of 380K I have perfect credit etc. NOW I'm thinking I go plan B, buy a basic 1 bed/studio and keep it for ever, rent it out. This will secure me long term, I'll move out of country (I work remote) while I save up another few years for another deposit. Mexico here I come.
Is that on a 30 year amortization? Or 25?
Dumb idea. Just explore another lender who’ll lend you more such as a B lender and push up your first mortgage to higher balance, allowing you to get into a one bed for $600K to $700K in DT. You’ll pay a higher rate but at least you’ll get a better product and don’t need to move.
@@AR-el1kmfacts 💯 location location location.
What do you do to earn 130k a year? How old are you? I love how the new generation is so transparent. The old generation would always be hush hush about any sort of numbers, especially salary pay.
Owen this was a great video!! I love listening to your advice!! I hope the renters are listening!! Free advice doesn’t come like this 👏🏾
Thanks so much!!
Man. It has sure gone insane here since Covid. Looks like their plan is working. Going to be interesting how many Starbucks and restaurants are left if no one can even afford rent.
Now, how does one save up 150k while being caught in this treadmill. Alberta is looking pretty favorable for the average Joe.
I just rented out a 1 bedroom (560 sq ft) for $3400.00 per month, rent in Vancouver has up 40-50% in one year!
🤯🫣🫨🤯😵💫😵🤯😳🤯
Yep.. condos that were getting $2200 a month in 2019 are now getting $3,000-$3200. It's not going to get any better for renters moving forward. NDP has sealed their fate with their war on landlords the past 4 years. Now if you can believe it they want guys like me to build 4 plexes and go into partnership with them providing housing for the missing middle. Good luck with that! Stay tuned for a video on this coming soon.
This is 💯 truth but some people will keep running to the bloggers and RUclipsrs promoting the big "crash". It never comes and they get further behind as rent and buying prices keep rising. Surrey 1 bedrooms are going for around $2000 now with no shortage of demand.
Facts 💯
Check out the post i just did on my twitter @owenbigland i think you will get a good laugh!
Our only hope is to get the NDP out ! If only people could see that !!
100%. It is definitely going in the wrong direction
More rentals are good for the building owners. However realtors are missing bigtime realtor's commission money which otherwise would have been sold with premium amount to potential buyers. Waiting to see how all these things will change drastically once interest rates go down. Not sure how realtors will survive eventually not selling downtown condos if they are operating in that area. Some old realtors with passive income may survive other new realtors who are studying real estate courses in UBC for them it is a dead end of the career.
Real Estate has always been a feast or zero business and always will be.. I don't think many people realize that most Realtors are making very little money and are just buying time until they leave the business. For every 100 new Realtors 75- 80 will be gone after 1 year 95 will be out of the business after 4 years. There are currently 15000 Realtors in the Vancouver RE board. The top 10% do about 75% of the total business. 50% of the Realtors do zero deals in the calendar year.. ie zero income but probably have $10-$15,000 in expenses every year just to keep their licence. It's tough business to get established in... odds are heavily stacked against you to make a successful career RE. To make a decent living you would need to do at least 15 -20 ends a year ( An end is a buy or sell side transaction i think the average number of ends in the Vancouver Board is 3.5 ends for 2022.
350 k condos, where?
I searched that up too. There are a couple under 400k in Richmond along sky train, but bachelor pads. Also, a few for mid 400's - also small.. one bedroom types.
Good content but the audio sounds muffled
Fixed for next video.
Same thing happening in the Niagara Falls area. All these big impressive projects that seem like condo but turn out yo be rental. These places are nice but expensive
Solid advice.
The city seems to think these superlux condos will be too expensive, so lets just not build them. They dont seem to understand that this frees up condos at the lower end of the housing ladder. Very frustrating.
Im sure mr Kennedy the NDP renter likes this plan.😂
Best advice ever!!!
Thanks Reza
People absolutely deserve what they vote for
Agree. Most don't even bother voting and many are badly misinformed on who best to vote for.
Hey Owen, why doesn’t the NDP want folks to own homes? How does it benefit them?
Renters make up most of the NDP's renter base. Socialist Governments want to keep you in that poor and it's not your fault twilight zone.. Vote for us and we'll tax the bad guys and build you some more rental housing. People keep falling for it! Governments are not your friend no matter what the party.. They're not here to help or save you! all they want to do is buy votes, get elected and get that easy free ride and pension. The sooner people figure this out and start focusing on what they have controll over in this life like getting into a good career and making more $$$ and tuning out the politics they will be far better off and on there way to a happy and successful life.
Follow my lead and do everything you can from having to rely on Government for anything! Pay your taxes , renew your drivers lic and passport and distance yourself from everything else the government has to offer.
@OwenBigland Hi Owen, have you ever regretted selling a place you owned? Assuming you sold it, to invest in the stock market etc.
Do you still own your first principal residence?
In an old video of yours, I recall you mentioned you sold your detached home?? Would you consider that a mistake you’ve made?
Hi Jason Good question.. stay tuned i will do a video on this. The answer is no i have not because i have always sold to buy something else but will go into more detail in the video. Not all my sales have been monetary.. often i have bought and sold based on lifestyle.
@@OwenBigland thanks !!! 🙏 😊
Owen, great vid as usual but it’s time to invest on a good quality mic👍
I have a very high quality mic but had some technical difficulty with the sound on this one
( Every now and then it happens) . I'm currently traveling in NYC & Miami and do not have time to re-shoot or fix. I told my webmaster to post a pinned comment at the top explaining this but he has forgotten to. Will be fixed for next week's update
World economic forum 2030 report "you will own nothing and you will be happy" look it up.
We're headed in that direction for sure.
Sunny Ways. my 1.94% 5 year fixed until 2026, looking good.
Lucky you!! I passed that up... can you believe it? stayed variable.. I didn't know any better.
Me too lol, but all attached to rentals so the my income claimed on my return is lower thanks to more interest claimed. Oops but oh well