Toronto Real Estate Investing News

I've moved to sunilhomes.tumblr.com

2012-02-02T20:54:00.002-05:00

Markham update: Big News at Kennedy and Steeles

2010-03-10T10:30:00.003-05:00

Market Village, next door to Pacific Mall, will soon to receive the makeover of makeovers. It’s 325,000 square foot retail space will be knocked down(!). Out of Market Village will rise the 800,000 square foot Remington Centre – a Chinese-themed mall with a 20-storey hotel and condo tower. Kohn Architects have designed the Remington Centre to be essentially an Asian-Canadian Times Square – a large outdoor space with water fountains will be an integral part of the project. 3500 Parking spaces - a very important number in the suburbs.

Market Village is about to take on a new life and become a world-class Asian retail destination. It will likely be the largest Asian retail complex outside of Asia – The Remington Centre.

With its unique architectural design, excellent facilities and the grand vision of creating a community of its own, the Remington Centre will surely become a new landmark of Markham.

Before:

After:

The scale model on display at Market Village (at the Steeles entrance).

View from Kennedy:
View from Steeles:

There are many commercial opportunities in this development with 400 retail stores to choose from. If you missed Sitara shopping mall, then act fast! Call Sunil Deonaraine at Re/Max Crossroads to buy this excellent Markham Real Estate. 416-491-4002

Sunil Deonaraine,
Real Estate Broker
Re/Max Crossroads Realty, Brokerage.
416-491-4002

March 10, 2010
.
.

The Trump Hotel and Tower

2010-03-02T15:04:00.005-05:00

The good people over at Blogto have done an excellent article about the construction progress over at the Trump tower.

The Trump Tower Towonto was announced in 2004 and sold very well during the promotional phase, but there has been no news for six (*6*) long years. NOw we have progress.

Click here for the full article over at Blogto

.
Sunil Deonaraine.
March 2010.

Merry Christmas

2009-12-24T16:27:00.000-05:00

Sale day and the day after

2009-09-21T11:26:00.004-04:00

Big sale day - we sold A LOT of condos in a few hours.

Here is a photo of all the dealmaking going on. This was taken early in the day - before the temperature and the tempers got hot. This is also a bird's eye view of the condos excellent location. (the blue buildings).

This is a photo from Sunday of the contracts waiting to be picked up. Hint: most buyers will wait for hours then take their contracts with them; people who have been through "the process" before don't wait around: they know Cityplace will courier your contracts to you the next working day.

Cityplace Parade 2 Courtyard

2009-09-21T11:13:00.002-04:00

Parade 2 finally comes to market, in the heat of a booming condo market. I had posted photos of the new model suite, here is the full scale of the building, facing the award-winning park (of course).

The model of Parade 1 and 2.

The units being sold on Saturday 19th Sept, 2009. The low-rise units facing the park and on a closed street. Imagine living in the park with the convenience of being downtown.

GTA real estate proves resilient

2009-07-29T16:32:00.001-04:00

GTA real estate proves resilient during first six months of 2009, says RE/MAX

One in five neighbourhoods have surpassed pre-recession average price levels

Mississauga, Ontario (July 28, 2009) - In the midst of the recession, approximately twenty per cent of single-detached homes and condominiums in Greater Toronto Area neighbourhoods managed to post an increase in average price, according to RE/MAX.

The RE/MAX Return on Investment Report found that 11 (17 per cent) of the 65 Toronto Real Estate Board (TREB) districts reported an upswing in the value of a single-detached home in the first six months of 2009, despite one of the worst first quarters on record. The Beach (E02) saw the greatest percentage increase year-over-year at 3.79 per cent, with average price rising to $715,422, up from $689,278 in June, 2008. Pickering (E13) placed second, with the average price of a single-detached home climbing 3.72 per cent to $389,536, up from $375,577 from one year earlier. Willowdale, Newtonbrook (C14) ranked third, with a single-detached home rising in value from $754,470 to $779,537 -- a 3.32 per cent increase. Rounding out the top five neighbourhoods are newcomers Downsview, Weston (W04) – where prices have climbed 2.25 per cent to $384,485 from $376,007, and Rouge, Malvern (E11) where a 1.99 per cent uptick has brought year-to-date housing values to $345,468 (from $338,738).

“Purchasers clearly moved to take advantage of greater affordability in the marketplace in the first half of the year,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Prices were down in virtually every neighbourhood surveyed; supply of homes listed for sale was at an all-time high; and interest rates were at historic levels. If you’re a buyer, it doesn’t get much better than that.”

Given their more affordable price point, condominium properties fared slightly better than single-detached homes, with 13 (22 per cent) of 59 TREB districts posting an increase in average price. Condos in Cliffcrest, Guildwood (E08) in the city’s east end saw the greatest appreciation in value, with average price climbing 6.45 per cent to $175,855, up from $165,197 one year ago. North Toronto, Cricket Club (C04) ranked second with a 6.1 per cent increase in average price, bringing condominium values to $301,065 (up from $283,746). Downsview, Weston (W04) clinched third spot, with a 4.37 per cent increase in average price to $173,083 in June 2009, up from $165,834 one year earlier. Mississauga’s thriving Port Credit community (W12) experienced a 2.63 per cent increase in condominium values year-over-year – with average price hovering at $304,954. Bendale, Woburn, and West Hill comprise E09, where the average price of a condo appreciated 2.46 per cent over figures reported one year ago to $201,830.

“But that was then and this is now,” says Polzler. “Lower inventory levels combined with increased demand -- comparable to what we’ve seen in recent months -- is expected to place renewed pressure on housing values for the remainder of the year. As a result, average prices are forecast to be at par or slightly ahead of last year’s levels by year-end in almost all neighbourhoods.”

Case in point is areas like Toronto’s east end, where bidding wars are breaking out on single-detached properties daily. The average sale-to-list price ratio in E01 and E02 approaches 100 per cent. Average prices are up in four of the 18 East District neighbourhoods. Overall average price in the east is down less than one per cent to $346,597 from the January to June 2008 figure.

The areas with the highest percentage decreases in the average price of a single-detached home have also seen the greatest increases in the number of properties sold. The overall average price of a single-detached home fell by 5.17 per cent in the Central District to $884,036, down from $932,198 one year ago, while the North District dropped 4.49 per cent in value to $526,693, down from $551,452 in June 2008. Sales are up in both areas, with 2,000 homes changing hands in the central area (up 4.28 per cent over one year ago) and 4,249 properties sold in the north (up three per cent from June 2008).

Only one district reported an overall increase in the average price. Condominiums in the North District – comprised mostly of York Region – posted a 0.26 per cent increase in values – and now hover at $275,822, compared with $275,113 one year ago.

“The momentum going forward is expected to be healthy – buoyed by positive economic data and a return to stability in the financial sector,” says Polzler. “There may be some bumps along the road, but all in all, the worst is over for the residential real estate in the Greater Toronto Area.”

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca

###

For more information:

Christine Martysiewicz
RE/MAX Ontario-Atlantic Canada
905.542.2400

Note: All statistics sourced from RE/MAX and TREB Net
Districts that recorded less than 100 sales year-to-date were discounted to prevent the reporting of statistical anomalies.

Record Breaking June in Toronto Real Estate

2009-07-09T21:57:00.003-04:00

In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008.

The seasonally adjusted annual rate of sales in June was 100,700.1 “The record result in June is testament to the fundamentally sound housing market in the GTA,” said TREB President Tom Lebour. “An increasing number of households have been confident in purchasing a home in the region’s affordable and diverse resale housing market.”

The average price for June transactions was $403,972 – up by two per cent compared to the same month last year. “The re-emergence of seller’s market conditions has exerted upward pressure on home prices,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis.

“Look for sales to remain high relative to listings in the second half of the year. This will keep
home prices growing.”

Read the incredible report for yourself here.

Below: The danger of taking real estate advice from unqualified people. Wow, were they wrong about the market. Stick to the excellent restaurant reviews.

Wisdom of time.

2009-06-30T11:02:00.002-04:00

If you want to know what a great value real estate is, go and find a 70 year old and ask them this series of questions:

1- how much did you pay for your first house?
2- what's it work these days?
3- do you wish you'd bought 10 of them?

Don't wait too long before you too see the value of real estate.

Phone A Friend

2009-06-30T10:28:00.003-04:00

"Would you like to phone a friend?" When Regis (or Anil Kapoor) asks that question, does the contestant know the answer? Nope - no clue. We are greeted by blank stares as the contestant dials his lifeline.

Advisors are the name of the game these days. "We have advisors." We know nothing ourselves, but we have advisors. Real estate investing used to be a bunch of street-savvy dealmakers making deals, and getting sage advice from their lawyers on how to word the contracts and getting advice from their accountants on the tax implications. But they did deals, and they understood that time is money.

These days, the standard starting advice is: build a team. Get a doctor, lawyer, accountant, architect, pharmacist, and and nanturopath to help you with real estate advice. My question to you is: what do these people know about real estate? Certainly a lawyer can give you great advice on wording a contract to reflect a deal that is already made, and on legal protection in the contracts... but what does a lawyer know about multiplexes? Unless they own one, then it's a different story. The same thing with your other team members or advisors: how many deals have they done? Modern real estate investors are suffering from paralasys by analysis, waiting for advice from prople who have never done a deal. Time is money.

The worst advice you can get in real estate is from accountants. The don't get real estate. Real estate is a visionary business - to be able to see and imagine the future. An accountant accounts for the past, that is the meaning of what they do: you can only account for what has already happened. Any investor can see property improvements, rental increases, and understand the value of time... in the future. Most accountants will tell you to take the money you make from perfectly good real estate and put it in to stocks. Use your equity they call it. But it should be called lose your equity. Take the money you make in real estate and buy more real estate, take the stock-market profits and buy more stocks.

When doing deals, beware of anyone whose primary advisors or "advisory team" is made up of accountants - this person isn't an investor. They are a time waster.

Always consult a lawyer before you sign a contract. Best advice you'll ever get. But making a deal and signing a contract are two different things. The old guys do deals on napkins, then leave it to the agents and lawyers to sort out the paperwork.

And lastly, if you have to "phone a friend" to ask about your real estate deal, do you really have a deal?

US Foreclosure and Bailout News

2008-10-17T14:33:00.004-04:00

The video below shows the major problem with the US real estate market. Lots of buyers, unreasonable sellers.

I don't agree with the common Media-Mantra that subprime mortgages caused the ongoing financial collapse. It's widely known that only 6% of mortgages are subprime - if only 6% of their portfolio collapsed how did they lose the other 94%?

The Australian Institute of Chartered Accountants published this delightful 20 page (full of graphs) analysis of the crisis. It's a good read. Credit Crunch Report

As a Realtor, I look at the video below and I see 30 buyers for 30 properties. The Banks have got to be forced to do the right thing - sell these properties to the first cash buyer. Why are the banks hoarding these properties? I thought they needed the cash.

Cityplace Parade 2

2008-06-13T07:54:00.004-04:00

After the smashing success (and outrageous prices) of the Parade building, Concord Cityplace launched it's next exciting project: Parade 2. The Parade 2 block will be a low-rise, a mid rise, and a round tower.

Concord has created a new model suite, new miniature courtyard model, and entirely new terms and prices for Parade 2. This release will be for 100 suites facing the courtyard. The second floor looks like the hot-product: the courtyard is on the second floor, so all the terraces on the second floor walk-out to the courtyard -- the second-floor condos will have a back yard.

I know a lot of people missed out on Parade 1, don't miss this one!

Here ar some photos of the new model suite with the finishings for the Parade 2 building. Concord has taken a big step towards luxury. Note the effective built-ins, the one touch cabinetry, the countertop, and the Meile appliances. That tile is Quartz and is worth the money - it is breathtaking to see.

If you're interested call Sunil Deonaraine @ 416-879-4805 or I can be paged through Re/Max Associates Realty Inc, 416-293-1100.

Kudos to the design team - here is the model suite.

This is the micro-model of the courtyard. The detail is amazing.
The new model suite:
Quartz flooring. The photos don't do it justice. See how it picks up the pot-lights.
Beautiful built-in appliances from a high-end brand-name.
The condo bedroom.
Intelligent use of space with built-ins.
Flat top stove. Can anyone see the dishwasher? It's there.

Condo with 500$ down payment

2008-06-13T07:39:00.005-04:00

The smart people at Daniels came up with a great incentive for first time homebuyers: buy with 500$ downpayment, and you'll also get a free parking spot and 1 year free condo-fees. It was a good deal. Where else can you buy a home with basically the money in your pocket?

The building "Merci" is a luxury 7-floor low-rise right on the corner of Rean and Sheppard (across from the Mall/Loblaws/Subway/YMCA). This is part of the New York Towers master-planned community.

Photo from the event:

It was crowded, hot, disorganized, and sold out! Thankfully, Doris Parreno was there to keep us company for the 3 1/2 hours it took Baker Real Estate to prepare the contracts.

New FINTRAC rules for real estate

2008-06-13T07:19:00.002-04:00

The Federal Government has introduced a new set of rules dealing with Real Estate and the reporting of Terrorist/Money Laundering/Suspicious activities. This FINTRAC law goes into effect June 23rd, 2008.

Long story short: people now have to show Government ID to see or sell a house with a Realtor. We have to get their life story if we accept a deposit for purchase. This information is then forwarded to FINTRAC to monitor - these rules supersede the privacy law.

These rules now also apply to Builders and Developers so the new regulations should be very effective in countering the problem of grow-houses.

Official pages:
http://www.fintrac-canafe.gc.ca/re-ed/sc/re-cai-eng.asp

Guidelines:
View this information in .pdf format (57 kb)

Information for:
Real estate

Your Obligations

The following summary of the legislative requirements under the PCMLTFA applies to you if you are a real estate broker or sales representative when you act as an agent regarding the purchase or sale of real estate. These requirements do not apply to your activities related to property management.

If you are an employee of a reporting entity, these requirements are the responsibility of your employer except with respect to reporting suspicious transactions and terrorist property, which is applicable to both.

If you are a real estate agent acting on behalf of a broker, these requirements are the responsibility of the broker except with respect to reporting suspicious transactions and terrorist property, which is applicable to both.

For more information about legislative requirements in effect before June 23, 2008, see the applicable guidelines published before 2008.

How Hot is Hot?

2008-05-27T21:01:00.004-04:00

How hot is the market? I was out on Enterprise drive in Markham (North of 407, between Warden and Kennedy) for the latest phase of "Downtown Markham" - the Verdale. I was stunned to see that Agents had lined up for one week to purchase condos in Markham.

That's an indicator of how hot the market is - over 100 people lined up in the middle of nowhere just for the opportunity to buy Toronto real estate. After the numbers were handed out - there were quite a few people who didn't get a condo.

Here are some images of the crowd and the tent.

The crowd of agents just waiting for their priority numbers to be assigned.

The sales center for Remington Group, the builder of Downtown Markham. This project will eventually be even larger than Mississauga city centre. To view the scope of the project click here.

The agent crowd starts to thin after the tickets are handed out.

Kudos to the hard working agents who lined up for this project, and to Remington for setting up the tent to protect them from the unkind Canadian weather.

(photos taken by me with my Canon Rebel Xti).

Market Update

2008-05-20T11:02:00.003-04:00

Enclosed is the Toronto Market Watch for April.

The market is hot. I've seen, I've heard, I've read all the bad reports in the news about the market... but I'm wondering what fantasy land these people are living in. Read it for yourself.

The most incredible numbers are on Page 11 - the Central Condos. Downtown Toronto (C01) 46% of all condo inventory sold in April for an average price of 100% of asking. Uptown at Yonge/Sheppard (C07) 90% of the condo inventory sold in April.

It is still very much a sellers market.

Toronto Marketwatch - Click Here.

If you need help interpreting the numbers for your area, email me and I'll give you a quick call.

rgds,

Sunil Deonaraine,

Foreclosures mean opportunity for Habitat charity

2008-05-19T19:51:00.004-04:00

This is a great article from Yahoo about the opportunities in the US market. It's good to see that some people still remember to "buy low."

Foreclosures mean opportunity for Habitat charity

By STEVE KARNOWSKI, Associated Press WriterMon May 19, 9:42 AM ET

The foreclosure crisis that has forced thousands of families from their homes has given something good to the nation's best-known housing charity: Cheap properties for sale in communities around the country.

Some Habitat for Humanity chapters have seized buying opportunities in neighborhoods affected by the mortgage meltdown, snapping up scores of empty lots and unoccupied homes — some for as little as half price.

Read the rest of the article here

Happy hunting!

.
.

Anthony Robbins in Toronto

2008-04-18T08:39:00.004-04:00

Anthony Robbins, Unleash The Power Within
Toronto, ON, July 25, 2008 to July 28, 2008
Metro Toronto Convention Centre, North Building - 255 Front Street W.

Our friend Calvin has generously extended his huge corporate discount to all of my friends, clients, and colleagues. As they say, this is a very limited time offer. Please email me and I'll forward you the discount details. email me here

warm regards,
Sunil Deonaraine.

Big news in Oakville

2008-02-19T21:52:00.003-05:00

Oakville is planning to develop a huge tract of land (5560 acres) north of Dundas. This farmland has already had its designation moved from agricultural to urban. Last summer council approved a plan that maps out what land will be used for industry, and what land will be used for housing. The plan adopted projects 55 000 new residents, and 35,000-45 000 new employment positions. This will be in addition to the 35 000 new residents that will be coming to areas south of Dundas, Bronte and other development sites in Oakville in the coming years. Altogether, Oakville's population is projected to grow by 90 000 in the coming years.

Along with massive expansion housing/taxbase/infrastructure development, this development presents huge opportunities for investors. This is a great second-chance for anyone who missed the opportunities of last 10 years of the housing boom.

Read all about it here:
http://www.northoakville.ca./index.shtml

Better Business Busybodies

2008-01-22T12:33:00.000-05:00

I found this article linked at the top of the Craigslist "real estate" section. Unfortunately, the article doesn't distinguish between the scammers and the real investors/foreclosure rescue.

"

Foreclosure 'Rescue' Scams on the Rise

Are you facing the threat of losing your home? Be wary of individuals and companies offering to "help" you out of your difficult financial situation. Consumer advocates report an increase in complaints about foreclosure "rescue" scams. These scams specifically target homeowners who are in financial distress. Scam operators advertise over the Internet and in local publications, plaster posters on telephone poles and at bus stops, stick flyers in people's front doors or contact people whose homes are listed in public foreclosure notices. Sometimes they direct their appeals to specific religious or ethnic groups. In one scenario the scam operator offers to "buy" the homeowner's property by paying off the amount that is overdue on the loan. He convinces the homeowner to move out and deed the property over to a third party. The homeowner is given the option of renting the property with the option to buy it back later. The rent payment on the home is often higher than the homeowner can afford. Often times, the original homeowner cannot make the rent payment and is evicted from their home. Or, if the homeowner expresses a desire to buy back the property, the scam operator usually sets the price of the home higher than the homeowner can afford.

Read the rest of the original here:

.

.

2007 Breaks all records.

2008-01-09T13:57:00.000-05:00

2007 = Best Year Ever

TORONTO - Monday, January 7, 2008 -- A healthy 4,646 sales in December propelled 2007 sales to a record setting 93,193 sales, TREB President Maureen O'Neill announced today. "Year-end sales are up 12 per cent over last year and up 11 per cent over the 84,145 recorded during 2005, the Toronto market's previous best-ever annual performance."

On a year-over-year basis, prices rose seven per cent to $376,236 from last year's $351,941. The annual time-on-market figure stood at 32 days versus 2006's figure of 34 days, meaning that over the course of the past two years it has taken homes within the GTA barely a month to sell on average.

Breaking down the total, 1,756 sales were reported in TREB’s 28 West districts and averaged $357,711; 1,057 sales were reported in the 14 Central districts and averaged $531,366; 771 sales were reported in the 23 North districts and averaged $420,508; and 1,062 sales were reported in TREB’s 21 East districts and averaged $302,113.

You can find the full report here:
Cick here to open .pdf in new window

Merry Christmas and a Happy New Year!

2007-12-21T20:18:00.000-05:00

.
.

The US sub-prime crisis in graphics

2007-12-21T19:44:00.000-05:00

We're hearing a lot about the "US sub-prime crisis"; here is an excellent explanation from the BBC on what's happening.

The US sub-prime mortgage crisis has lead to plunging property prices, a slowdown in the US economy, and billions in losses by banks. It stems from a fundamental change in the way mortgages are funded.

Click here for the full article. With handy-dandy graphics.

Be sure and click the "how it went wrong button", and the Cleveland worksheet.

.
.
.
.

Market Update: Condos selling like hotcakes

2007-12-21T19:18:00.001-05:00

An article from The Star today: condos outsell houses for the first time ever, with condos making up 52% of all new homes sold.

Click here for article

2008 GST/HST Rate Reductions re: New Housing

2007-12-21T18:59:00.000-05:00

2008 GST/HST Rate Reductions re: New Housing

December 18, 2007 -- On October 30, 2007, the Government of Canada announced in its Economic Statement that it proposes to reduce the GST rate by one percentage point from 6% to 5%, effective January 1, 2008. To facilitate the transition to the lower rate, the Economic Statement also proposes transitional rules for determining the GST/HST rates applicable to transactions that straddle the January 1, 2008 implementation date.

This info sheet reflects the proposed amendments to the Excise Tax Act. Any commentary in this publication should not be taken as a statement by the Canada Revenue Agency (CRA) that these amendments will be enacted in their current form.

Click here for more info(pdf external window.)

Province Expands Provincial Land Transfer Tax Rebate

2007-12-21T18:56:00.000-05:00

Province Expands Provincial Land Transfer Tax Rebate

December 13, 2007 -- The provincial government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing, something which REALTORS® have lobbied for.

Details

First-time buyers of BOTH re-sale, and newly constructed homes, will be eligible for a rebate of the provincial land transfer tax of up to $2,000.
Effective for first-time buyers who enter into Agreements of Purchase and Sale AFTER December 13, 2007.
This change is being implemented by provincial legislation introduced on December 13, 2007. The Ministry of Finance has indicated that, until the legislation is passed, first-time buyers of re-sale properties eligible for the rebate can submit their applications for the refund and they will be processed once the legislation has passed. It is not known when the legislation will be passed. Buyers can consult with their lawyers if they have concerns.
The provincial land transfer tax rebate applies in all Ontario municipalities. In Toronto, the provincial rebate is in addition to City rebates of the Toronto Land Transfer Tax.

More Information

Further information is available by calling:

Ministry of Finance
Land Transfer Tax Section
905-433-6361

Ministry of Finance
General Inquiry
1-800-263-7965

Details of Approved Toronto Land Transfer Tax

2007-12-21T18:48:00.000-05:00

(I cannot believe Toronto City council passed this tax.)

Details of Approved Toronto Land Transfer Tax

October 23, 2007 -- Toronto City Council has approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax. TREB worked very hard to oppose this tax and commends the efforts of REALTORS® on this issue. TREB took a strong position to oppose this tax as unfair in principle and refused to compromise. As a direct result of this strong position, City Council was forced to make a number of amendments to the City’s original proposal, including rebates for first-time buyers, a reduced rate, and grandfathering for existing transactions.

The following is based on currently available information.

What was approved by City Council?

A second land transfer tax, on top of the provincial land transfer tax, at the following rates:

Residential:

0.5% of the amount of the purchase price up to and including $55,000, plus
1% of the amount of the purchase price between $55,000 and $400,000, plus
2% of the amount of the purchase price above $400,000

Commercial / Industrial / Etc.:

0.5% of the amount of the purchase price up to and including $55,000, plus
1% of the amount of the purchase price between $55,000 and $400,000, plus
1.5% of the amount between $400,000 and $40 million, plus
1% of the amount above $40 million

When does this take effect?

February 1, 2008.

Are existing transactions grandfathered?

Yes. Any transactions where the purchaser and vendor have entered into an Agreement of Purchase and Sale for the property on or before December 31, 2007, and closing after the TLTT takes effect on February 1, 2008, will be REBATED the full amount of the Toronto land transfer tax, regardless of how long after February 1, 2008 the closing date is. (Note: Media reports that closings must occur by Feb. 1, 2008 are inaccurate.) Agreements closing before February 1, 2008 do not pay the tax. Teranet will be collecting the Toronto land transfer tax for the City of Toronto. Once the City’s rebate policies are reflected in Teranet’s collection system, the rebate-eligible amount will be exempt at the time of registration. The City previously indicated that these arrangements would not be made until the “spring of 2008”, but has now indicated that changes will be made by February 1, 2008, when the Toronto land transfer tax takes effect. According to the City, purchasers who are eligible for a FULL rebate of the Toronto land transfer tax will not have to pay the tax (meaning that they do not have to pay the tax upfront and be rebated later). This means that purchasers involved in grandfathered transactions (Agreements of Purchase and Sale signed on or before December 31, 2007, closing on or after February 1, 2008) will not have to pay the Toronto land transfer tax. If your clients have concerns, they should check with their lawyer.

What about Agreements of Purchase and Sale signed after December 31, 2007 with closing dates before February 1, 2008?

Purchasers with a Purchase and Sale agreement signed after December 31, 2007 with a closing before February 1, 2008 will not be required to pay the Toronto Land Transfer tax.

What about Agreements of Purchase and Sale signed after December 31, 2007 with closing dates on or after February 1, 2008?

Purchasers with a Purchase and Sale agreement signed after December 31, 2007 with a closing on or after February 1, 2008 will be required to pay the full Toronto Land Transfer tax.

Where does this apply?

The Toronto land transfer tax only applies to transactions within the City of Toronto. This does NOT apply to property transactions outside of the City of Toronto.

Are first time home buyers affected?

First time home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $3,725 (this equals a 100% rebate on homes purchased for up to $400,000). Teranet will be collecting the Toronto land transfer tax for the City of Toronto. Once the City’s rebate policies are reflected in Teranet’s collection system, the rebate-eligible amount will be exempt at the time of registration. The City previously indicated that these arrangements would not be made until the “spring of 2008”, but has now indicated that changes will be made by February 1, 2008, when the Toronto land transfer tax takes effect. According to the City, purchasers who are eligible for a FULL rebate of the Toronto land transfer tax will not have to pay the tax (meaning that they do not have to pay the tax upfront and be rebated later). This means that first-time home buyers where the total Toronto land transfer tax is $3,725 (the Toronto land transfer tax payable on a home purchased for $400,000) or less, will not pay Toronto land transfer tax (see exception noted below). If your clients have concerns, they should check with their lawyer.

Note: First-time home buyers with Toronto land transfer tax payable above the maximum rebate amount of $3,725 (those purchasing homes above $400,000) will be required to pay the total Toronto land transfer tax, and then receive the maximum rebate of $3,725 at a later date from the City. Once all changes have been made to Teranet’s collection system, in the spring of 2008, these buyers will only have to pay the balance of the Toronto land transfer tax above $3,725.

Who qualifies as a first-time home buyer?

According to the City of Toronto, eligibility rules for the Toronto Land Transfer Tax first-time buyer rebate will mirror provincial rules, as follows:

The purchaser must be at least 18 years of age.
The purchaser must occupy the home as his or her principal residence no later than nine months after the date of the conveyance or disposition.
The purchaser cannot have previously owned a home, or had any ownership interest in a home, anywhere in the world, at any time.
If the purchaser has a spouse, the spouse cannot have owned a home, or had any ownership interest in a home, anywhere in the world while he or she was the purchaser’s spouse. If this is the case, NO refund is available to either spouse. Note: If a purchaser’s spouse owned an interest in a home BEFORE becoming the purchaser’s spouse, but not while the purchaser’s spouse, the purchaser may be eligible for some rebate.

Are Toronto Land Transfer Tax Rebates in addition to Provincial Land Transfer Tax Rebates?

Yes. The provincial government also provides a rebate of the provincial land transfer tax for first-time buyers.

How can I get more information?

More detailed information will be provided once it is made available by the City. If you have questions, contact the City of Toronto at Access Toronto at 416-338-0338.

Motivated Seller

2007-11-26T16:21:00.001-05:00

New Condo 1+Den 610+ sq.ft. 28th floor, clear unobstructed lake and park views: 279,000 with parking.

This condo nicely upgraded with a full sized den. Brand new, never lived in.

This condo is significantly under market (tons of comps available). To know what a steal it is, take a look at those views. Call me if interested: Sunil 416-879-4805

One Bloor Condo Sale

2007-11-16T19:42:00.000-05:00

By now, almost everyone in the city has seen or heard about this week's lineups on Bloor street to purchase luxury condos in the "One Bloor" building.

In Toronto, there are condo sales every week and they are all just as busy. This one was newsworthy because of the luxury prices. (I told you all Burano was a deal - one block away at half the price.)

For those who missed the market for the last 2 years: condos in Toronto have gone up 30% and demand far exceeds supply so there's no end in sight for the high prices. For 2 years, people have been lining up to buy a wide range of investment condos under 250,000$. But recently they started lining up for luxury condos - $500,000+++.

The Globe and Mail had a great article on the high end condo market. The headline is "Serving up the city to the super rich."

Here is some video from Global TV: (refresh the video)
http://video.canada.com/Global_VideoContent.aspx?34244

Some more video from The Star. Video is a great feature for a newspaper.)
http://www.thestar.com/article/276342

If you know the link to the CBC video, please send it to me.

I went back and checked on my old clients who bought, and since 2005 the prices are up 100k per suite.

If you want to cash in on the craze call me and I'll help you make a fortune.

.
Sunil.
.
.

Bill Clinton Comes to Toronto!

2007-11-12T12:26:00.000-05:00

William Jefferson Clinton

Toronto, ON, November 13, 2007

Power Within is proud to present President William Jefferson Clinton. Experience what thousands of Canadians have called the event of a lifetime!

I've seen him speak 3 times, and each time has been incredible. He is a fantastic and charismatic speaker. I hope to see you all there tomorrow!

http://www.powerwithin.com/4105/event_calendar_details.asp?event_id=47

Happy Diwali!

2007-11-08T23:25:00.000-05:00

Wishing everyone a Happy Diwali, and a prosperous New Year!

Pier 27

2007-10-28T18:28:00.000-04:00

On Nov 3 and Nov 4th, Pier 27 is selling Phase 2 of their wildly popular condo towers. The location on Queen's Quay accross form the Loblaws/LCBO is a huge draw to the downtown crowd. Despite the astonishing success of the Phase 1 release, they haven't raised the prices significantly - the the opportunity is there for the smart investor to make a tidy profit.

If you're interested, call Sunil at 416-321-3800.

What's 'beautiful' worth? About $12,500

2007-10-03T13:22:00.000-04:00

A recent article in MSN Real Estate provides some interesting observations which we thought you might enjoy.

What's 'beautiful' worth? About $12,500

The right phrasing in real estate listings can speed a sale and even boost the final price, a Canadian study says. And here's a tip: If you must sell, don't put "must sell" in your ad.

By Marilyn Lewis

In real estate listings, what's the difference between describing your home as "beautiful" versus "move-in condition"? About $12,500 on a $250,000 home.

Professor Paul Anglin, a real estate economist in Guelph, Ontario, says that homes described as "beautiful" in real estate listings sell for 5% more while "move-in condition" has no effect on sale price.

Anglin and his colleagues from the University of Windsor and researchers from Canada Mortgage and Housing examined about 20,000 real estate listings and sales data in Windsor and Essex counties, Ontario, from between 1997 and early 2000. Among other things, they studied how listings' phrasing affected sale prices and the length of time it took for the listings to close.

When speed is of the essence

Listings with the words "beautiful" or "gorgeous" sold 15% faster. "Landscaping" in a listing hastened a sale by 20%. Describing a property as in "move-in condition" quickened the sale by 12%. Calling a home a "handyman special" cut sale time by half (researchers excluded listings that used the term to describe a workshop or hobby area).

Other familiar jargon, such as "must see" or "vacant," or including the information that a seller was moving, had virtually no effect on the time before a sale.

The kiss of death appears to be language that reeks of desperation -- words such as "motivated" and "must sell." These slowed sales by 30%. The term "ranch" house slowed sales by 10%. Properties described as rentals (income producing) took 60% longer to sell.

Though Anglin assumes the basic effects he identified are universal, the size of their impact will vary by locale, he says.

Read the rest of the article here:
http://realestate.msn.com/selling/Article2.aspx?cp-documentid=2856666

New and Hot Tech

2007-09-27T11:17:00.000-04:00

Wow. 700$ at Pacific mall. Nokia N95. Features: Unlocked GSM, 3G, Wi-Fi, bluetooth, GPS, 5mp camera (excellent quality photos), call and voice recorder, media player, Symbian OS, Office Files compatible, and an excellent speakerphone. It also has a second camera in the front to make video call with; this feature isn`t Canadian cellular available, but you can use it with Skype through the wi-fi.

I was wary at first: I had not had a good experience with Nokia when the cellular networks started migrating to digital in `99.

My first day with the N95 was incredible. The vivid quality of the screen is breathtaking. It looks, acts, and sounds like a good cell phone. It looks and acts like a great Digital Camera with high quality movie capture. And I was still able to play with my Excel files on that 2.8inch screen. Dual-slider takes some getting used to. Slide one way for the numerical keypad, slide the other way for the media-player controls.

http://www.nseries.com/index.html#l=products,n95,gallery

It's official - my IPAQ is no more. It was unstable on a good day, then it just up and quit 2 weeks ago. Until I owned this device, I really didn't know why anyone needed to edit Excel files on a 2" screen. This device cost 600$ and lasted almost 2 years. What is the point of having a 64k colour screen when you`re using monochrome mobile Outlook?

It all started back in 2003 with Treo, which was a joy to use. Simple clean PalmOS with organizer and phone. It was fast and usable. The LCd on this device became permanently damaged when a copper penny touched the screen (while in my pocket).

Why a Shopping Mall

2007-09-18T11:47:00.001-04:00

A few people have asked me: why a shopping mall? Why not residential?

Well, it's simple:

a mall unit has 99% occupied (walk around and check for yourself)
the leases are triple net
mall units are typically managed by the mall management office
In the case of non-payment of rent, there is no `Tribunal`` for commercial tenants. If a store is late with the rent, the landlord puts a lock on the door and now owns their business.
25% down required, 30% down recommended.
Participation.
The picture below is of the local Chinese mall. The photo was taken on a Sunday morning 10:30. The lot is almost full.
Another comparable property is the indoor mall at woodbine/7.

The money is in commercial. The smart money is in ethnic commercial.

Sitara Shopping Mall

2007-09-17T12:54:00.001-04:00

A new shopping mall is being built, and it is being sold to the public.

Location at Markham and McNicoll (N of Finch).
Prices: from 120-220k for retail units.

If you know someone who own a retail franchise or restaurant franchise - tell them about this project. They will be glad you did.

This project is selling now. Call me if interested in more details: Sunil 416-321-3800.

The balance of the sales package will be posted by Tuesday, so check back for updates.

Nautilus by Monarch

2007-09-17T12:07:00.000-04:00

Monarch is having a special broker event on Sept 19th to present phase 4 of the fantastic Nautilus Development. It's a great asset to own, since we can see from phase1-3 how extremely well the prices have appreciated.

The location is at Parklawn and Lakeshore. For some reason, people are determined to pay a lot of money to live on the lakeshore. This is your opportunity to profit handsomely on that desire.

call me to reserve your space: Sunil 416-321-3800

email me for floorplans: sunil@goldenestates.ca

The view from Nautilus. (lake view east, of course.)

Rotary Ribfest in Burlington

2007-09-12T13:59:00.000-04:00

As I was out and about enjoying the great City of Toronto this summer, I took in a few of the great local events. On Labour day Burlington hosts "The Largest Ribfest in Canada". I was fortunate enough to be there on the Saturday - a lovely 30 degree day on the lake. Lots of good food, huge crowds, and free live music all made for a fun and entertaining afternoon. Those good people at the Rotary club throw a nice event. It truly is a vegetarian nightmare.

The Crowds

The Food

They also have tasty sandwiches

CREA National Real Esate Forecast

2007-09-05T11:35:00.000-04:00

The Canadian Real Estate Association has released and revised its sales forecast for 2007/08 dramatically upward. The Realtor association expects a record 2007, and a good 2008.

The strength of the Canadian housing market defies the experts, who have continually predicted a collapse. (we`ve all seen them at dinner parties ranting about 1989).

Canada Mortgage and Housing Corporation (CMHC) has also revised its forecast upwards for the third time. After predicting a decline for the 5th straight year, they now say 2007 sales should hit a new record.

Ontario highlights:
2007 price increase: 8.6%
2008 price increase: 4.8%

Alberta highlights:
2007 price increase: 24.6%
2008 price increase: 6.6% (it looks like the boom is over)

Quebec highlights:
2007 price increase: 6.7%
2008 price increase: 6.1%

The original article is here:
http://crea.ca

.
.

Anthony Robbins Comes to Toronto!

2007-09-05T11:18:00.000-04:00

Oct 18, 2007 - Power Within presents Anthony Robbins in Toronto. The very best motivational speaker on Earth. @ Metro Toronto Convention 8:30-5:30.

Tickets start at 269. That's a good price. (The Learning Annex gave unparalleled value in March, and again next March.)

For more tickets and more details:
http://www.powerwithin.com/

It`ll be a great place for anyone wanting to get to the next level. For anyone who`s never seen him, it`s a life changing event.

.
.

Toronto Tax Battle

2007-07-30T23:10:00.000-04:00

There is an epic battle in Toronto right now. It's the Mayor and the entrenched bureaucracy of the City vs. the people and their pocketbooks. The Mayor was defeated in his vote to introduce a new tax [to offset his outrageous spending habits]. It was a stunning defeat, as the Bureaucrats were hoping that the usual voter-apathy would allow them to sneak this tax onto the backs of the rate-payers.

Spend-happy David Miller has now said he has 3 options: new taxes, more taxes, or less services. Read Miller's threats here (and be sure to read the comments)

How about cutting expenses? Let's think about that one for a minute. It's time to cut the bureaucracy, not services. How about a salary freeze? How about a hiring freeze? Let's start there. Trim the fat.

I took the liberty of looking up the actual budget and financial summaries ('05) for myself. You can view this disaster for yourself here:

http://www.toronto.ca/finance/pdf/

the notable highlights:
- The City collected total revenues of $7.879 billion and spent $8.111 billion (page 3)

When Miller wants more tax dollars, we can see that for every dollar he collects, he'll spend 1.05.

We should all be up in arms against any new tax. Government has to learn to make-do-with-less. It's time they got their house in order.

And if you don't think this concerns you because you live in Oshawa or Mississauga, just think about it - If Toronto is allowed to introduce a new tax, how long will it be until other local governments make the same money grab? If we can win in Toronto, you'll never have to worry about it again.

Join the fight here:
http://www.goldenestates.ca/blog/2007/05/public-hearnings-on-new-toronto-taxes.html
.
.

Condo crazy in Toronto

2007-07-29T17:41:00.000-04:00

By now we all know about the current condo madness in Toronto, with people lining up 3-4 days just for the *chance* to buy a new unit.

Here is the story from Global-640NEws about one of the recent sales. To be honest, when I saw the location and the prices, I didn't think this project was anything special.

Dozens line up overnight to purchase condos

Thursday, July 26, 2007 - 07:46 AM
By: Carl Hanstke

Toronto - Prospective buyers, including realtors, camped out at Park Lawn Road and Lakeshore Boulevard, to be among the first to buy new condominiums that have yet to be built - a sign of the real estate times.

More than 100 spent the night outside the Beyond the Sea condominium complex, developed by Empire Communities, camped with blankets and lawnchairs. Some arrived as early as 9 a.m. Wednesday morning.

Original article here

Wow. It's amazing how hot the market is.

True North, Strong, and Free

2007-07-01T13:50:00.001-04:00

Happy Canada Day!

Rent To Own in Detroit

2007-07-01T12:46:00.000-04:00

I'm in Detroit on pressing personal business for the last 2 days (8lb2oz baby boy).

I've noticed that you can buy a lot of house for under 300k down here. While the city is seedy and run-down, there are some lovely suburbs (Novi) and little urban hotspots (Royal Oak) that are doing quite well.

The Detroit Free Press has an interesting article on the growth of the rent-to-own market since the market crashed here 2 years ago.

Quoted entirely from:
Detroit Free Press - click here to read the entire article.

Rent-to-own gains appeal in slow market
Nontraditional option can benefit both sellers and buyers

July 1, 2007

BY DARRELL HUGHES

FREE PRESS BUSINESS WRITER

Michigan's sour housing market is pushing more sellers to slap rent-to-own signs in their front yards to lure buyers.

At the same time, more purchasers are opting to get into homes using this nontraditional method, some real estate agents say.

Raymond Lemons of RE/MAX Properties Inc. in Riverview said he has closed 10 rent-to-own deals in the past two years compared with none before then. Jaye Simpson of Nextpointe Real Estate Service in Troy said she completed about 15 rent-to-own transactions in 2006 and did 20 in the first three months of this year. Agents say the surge in rent-to-own deals in the region can be attributed to the increase in foreclosures, bad credit resulting from job cuts, homes sitting on the market too long and people not having enough money for a down payment.

Simpson, however, said the jump in her business is due to a decrease in subprime mortgage lending. Such loans are designed to assist buyers who have damaged credit....

Quoted entirely from:
Detroit Free Press - click here to read the entire article.

A small, underpriced market like Detroit may be the place for the savvy investor to hone their skills.

Concord Park Place - Sale Day

2007-06-26T09:34:00.000-04:00

June 21st Concord Adex launched it's new project in North York. Building A was released and sold in 3 hours. For anyone who hasn't been to one of these events, here are some photos of the actual sale day. This was orderly because all suites were reserved. For Luna people lined up for a week.

I noticed people lined up on Saturday for the release of Building B on Thursday. It's incredible. It's an incredible opportunity.

Release info: http://www.goldenestates.ca/discovery/

The atmosphere: Notice the boardroom upstairs filled with people signing contracts.

Sales start at noon. 45 condos sold in the first hour. The entire building sold in 3 hours.

.
.
I have 2 suites in building B if you want to be involved.

Sunil 416-321-3800
.
.
.

Thoughts on Intellectual Property

2007-06-19T23:26:00.000-04:00

I've never thought much about copyrights and intellectual property until today. I should have. 50% of laws binding agents and brokers are based on advertising rules. There are extensive rules on the MLS board forbidding use of other Agents' materials. But it never occurred to me the reasons behind these rules.

I thought it might be nice for my clients to see a photo of the new Park Place development "highlighted" so they could truly see potential wealth in the area. I drove to the sales center, took a photo with my Blackberry Pearl, processed and cleaned up the photo, and published it.

The next day some creep from C21 publishes my photo in his online ad. I quickly solved the problem. Did I over-react? He thinks so.

All he had to do was come up with a good idea and execute it. I guesss it was easier to steal my idea and hard work than come up with his own.

All my images are automatically tagged by Corel Photo-Paint with their Digi-Mark, but now I have to insert that clumsy "property of..." phrase on everything I produce. Thanks Ken.

Long Weekend Update

2007-06-04T13:00:00.000-04:00

It's a busy real estate season, so I didn't get to take the weekend off as I had planned - but I managed a day in Niagara-on-the-lake tasting some VQA wines. My friend Richard Argals smiles and refers to this as "very questionable appellation."

We had a great time, the country is beautiful out there. The air is noticeably different from the city - it just feels calmer.

The best wine tour and tasting experience is by far Jackson Triggs (5$ includes 3 samples.) After mixing wine and cheese for a day, you'll need some antacids and the local Shoppers in across the street from Jackson-Triggs.

We finished with dinner at Peller Estates - they have a fabulous French restaurant on site with authentic French servers. It gave me a chance to show off by conversing and ordering in French.

A tasting trip gives you the chance to sample some smaller wineries with good product, and things you wouldn't find at the local LCBO.

I have my eyes open for some of that great lakefront property in Niagara-on-the-lake. I think at 45 minutes from the city, it's a great getaway.

Concord Park Place

2007-05-17T21:22:00.000-04:00

On Monday May 14th, it was 500 movers and shakers of the real estate and construction industries under a tent, waiting for the big news. We were having a good time, and being very well fed by the good folks of Concord Adex. (Nice tent!) But we weren't there for the food. We wanted the details on the new Concord Adex Condo project in North York.

I did notice a lot more Media and Security than usual in the room, but I didn't think anything of it... until the show started.

The MC was Jeannie Becker of Fashion Television fame,

She announced the star presenter of the day, the person who would introduce the project, the Premiere of our great Province: Dalton. The man is extremely well spoken - he is a highly polished politician.

The new project will be a 2 Billion dollar investment, with 5000 new condos over a 10 year horizon. It is the second largest residential development in Canadian history - second to Concord Cityplace downtown Toronto.

I can't wait to get in on the action!!! They are tearing down everything except the Ikea. (lower right corner of the photo)

What a location - djacent to 2 major highways, next to the GO station, and between 2 subway stations. And Concord will offer residents hybrid-shuttle-busses to and from shopping and transit. this is a winner.

Public Hearnings on New Toronto Taxes

2007-05-10T11:59:00.000-04:00

This is your chance to be heard. How did it go from 1 new tax to many new taxes????

The City of Toronto has announced the dates and locations of public meetings to hear public feedback on various new taxes that are being considered, including a second land transfer tax that could mean $2,000, or more, in extra costs for average Toronto homebuyers. TREB is strongly opposing this tax, but WE NEED YOUR HELP. The City needs to hear loudly and clearly that a second land transfer tax is a bad idea, and public reaction at these meetings could influence City Council’s decisions. Please attend one of the City’s public meetings to tell them what you think about a second land transfer tax in Toronto.

Meeting Notes, with several key messages, can be downloaded here to help you express your concerns at the meetings.

MEETING INFORMATION
The dates and locations of the public meetings are provided below. While all of the meetings are important, it is important that clear concern and opposition to this tax is shown at the first meeting on May 7th, so extra effort to attend that meeting is appreciated.

Participants must register by calling Access Toronto at 416-338-0338. Registration begins May 2, 2007.

West

Etobicoke Collegiate Institute86 Montgomery Road (n/e of Islington and Bloor)Tuesday May 15, 7-9 p.m.

North

Memorial Hall5100 Yonge Street (below the North York Public Library)Thursday May 17, 7-9 p.m.

East

Scarborough Civic Centre150 Borough DriveWednesday May 23, 7-9 p.m.

Other Options
Attending these meetings is a very effective way of showing the Mayor, City Councillors, and City staff that you are concerned about the impact of this tax. However, if you are not able to attend, please send your comments as follows:

1. To City Finance officials at revenuetools@toronto.ca
2. To Mayor David Miller at mayor_miller@toronto.ca
3. If you live in Toronto or are associated with an office in Toronto, it is important that you also email your local Toronto Councillor. You can determine who your Councillor is and get their contact information (including email) by entering your address at the City’s Councillors web page.

Background
The City of Toronto has begun the process to consider charging a second land transfer tax on property sales in Toronto that could amount to a 45% increase, or more, to the current land transfer tax for average homebuyers. This option was included in a discussion paper on new revenue generating tools recently released by the City. While no decisions have been made yet by the City, we should all take this issue very seriously and work to convince City politicians to oppose this tax.

Toronto Pre-Construction

2007-05-10T11:37:00.000-04:00

Many of you have seen the signs from the 401 - at Leslie and Sheppard - Concord Adex is coming to North York. That means big profits are coming to North York.

Yes, Concord is opening a new master planned community on Sheppard. The groundbreaking is on Monday. The location is fantastic: on the subway, near Fairview Mall, next to 2 major highways.

Don't miss the boat on this moneymaker.
cash in 50k,
Expected cash out 50k
= 100% yields (2 yrs).

If you want to be involved or want more information call me immediately or email me at sunil@goldenestates.ca

Pre-Construction in Alberta

2007-05-10T11:16:00.000-04:00

We all know about the incredible Oil boom in Alberta. I have come on an excellent builder selloff and am offering it to you, my great clients and friends:

cash in: 75k
cash out: 35k (1 yr)
Yield: 46%

If you'd like to be involved or want some more information call me or email me sunil@goldenestates.ca

.
.

Thoughts on outsourcing

2007-05-05T12:07:00.000-04:00

Outsourcing is the buzzword of the day. It's modern wisdom that when you start a business you have to outsource everything - sales, purchasing, client relationships, HR, etc... The modern entrepreneur doesn't do any work - he networks with people and writes cheques.

In the old days when we started a business - we did everything "in house" to control costs. The old style entrepreneur did everything including "sweep the floors." Partly because we didn't like to write a lot of cheques.

I read an article recently and the message was this:

A lot of investors and advisors will tell entrepreneurs to do the least amount of work possible, so that they can get going quickly. You can get going more quickly this way, but then you're stuck trying to build a real business, instead of just a thin UI on top of someone else's business. If you're making all your money off of AdSense (and you're not Google!), who really owns the relationship with your customers? Most people don't think this way, and they should.
If it's a core business function -- do it yourself, no matter what.

I've always referred to this idea, geekily, as, "Jedi build their own lightsabers." If you're going to depend on your lightsaber as your principal tool and weapon, you'd better know that it works.

That's an excellent thought.

Article here: http://radar.oreilly.com/archives/2007/03/jedi_build_thei.html

Billionaire Bill Bartmann in Toronto

2007-05-03T09:17:00.000-04:00

Toronto - May 3, 2007
7:00 P.M.
Renaissance Convention Centre
3045 Southcreek Road, Mississauga

Free with registration at this website
http://www.billbartmann.com/bbe.html

hope to see you there!

(Quoted from his website - Thanks to Doris Parreno for letting me know about the seminar).

These Nine Steps took him:

From

Poverty & Welfare……………………	25^th wealthiest person in America
Homeless…………………………….	a 12,000 square foot home
High school drop-out………………..	a lawyer and Harvard Business School did a Case Study on his management techniques
Working at a traveling carnival……………………	Being named National Entrepreneur of the Year, inducted into the Entrepreneur Hall of Fame and named one of the Top 100 Entrepreneurs for the last 100 years in America
Street gang member…………	Being awarded a permanent place in the Smithsonian Institute’s Museum of American History
Teenage alcoholic…………	Awarded the American Academy of Achievement’s Golden Plate Award, previously bestowed upon five U.S. Presidents and three Nobel Prize Winners
Riding a city bus……………	Flying his own $25 million jet aircraft
Drawing unemployment………	To employing more than 10,000 people
Bankruptcy………………	To billionaire

And these Nine Steps can take you from where you are – to where you want to be!

Come and join us for a FREE Evening Event with Bill Bartmann.

This seminar is FREE but attendance will be limited to those who register from this site on a “first come” basis.

Reserve your seat at this life-changing event – before all the seats are gone.

Fight the new City of Toronto Tax

2007-05-03T09:15:00.000-04:00

The City of Toronto has begun the process to consider charging a second land transfer tax on property sales in Toronto that would amount to a 45% increase to the current land transfer tax . This option was included in a discussion paper on new revenue generating tools recently released by the City. While no decisions have been made yet by the City, we should all take this issue very seriously and work to convince City politicians to oppose this tax.

Say NO to home buying tax, Your Help Counts and Matters

What you can do to help:

1. Contact your Toronto City Councillor and Mayor David Miller stating your opposition to this tax. YOUR VOICE COUNTS.

2. You can send a simple brief email to the Mayor by clicking here (even if you don’t live in Toronto)

3. If you live in Toronto or are associated with an office in Toronto, it is important that you also email your local Toronto Councillor. You can determine who your Councillor is and get their contact information (including email) by entering your address at the City’s Councillors web page.

4. Strongly encourage your clients, customers, neighbours, friends and family to also voice their opinion by emailing Mayor Miller and their local councillor stating their opposition to this tax.

NOTE: If you don’t live in the City of Toronto you can still email Mayor Miller and the councillor in the area you conduct a lot of business. As long as you do business in Toronto or are concerned about your municipality being next on the list if Toronto succeeds with bringing in this tax, you should at least email Mayor Miller.

Key Points

A city land transfer tax on top of the provincial land transfer tax is double-whammy taxation
Significant cost: on the average Toronto home, a second land transfer tax of 0.5% would cost approximately $1900, which represents a 45% increase in land transfer taxes. Even a 0.1% second land transfer tax represents close to a 10% increase.
What added benefits would homebuyers or businesses receive for paying a second land transfer tax?
Would make housing less affordable in Toronto
Would make it more difficult for Toronto to attract new businesses. Toronto’s high business property taxes already make the City less competitive than surrounding GTA municipalities.
Will encourage consumers and businesses to locate outside of Toronto where they wouldn’t have to pay a second land transfer tax, leading to more commuting, traffic, and smog.
Will hurt Toronto’s economy by reducing the spin-off spending that housing transactions generate for things like furniture, appliances, and renovations.

Background

The new City of Toronto Act gave the City the authority to levy other types of taxes, in addition to property taxes.
Many strongly opposed the provincial legislation that gave this authority to the City. At the time, lobbying groups warned the provincial government that the legislation could result in a second land transfer tax for Toronto property sales.

Current City Actions

With the new City of Toronto Act taking effect on January 1, 2007, the City has moved quickly to consider taking advantage of its new taxing powers.
As mentioned, the City has begun this process with a discussion paper that presents all taxing options.
Most significant for us is the option to impose a City land transfer tax on top of the existing provincial land transfer tax. While the discussion paper does not provide much detail on how a City land transfer tax would be implemented, it focuses on a rate of 0.5% on both residential and non-residential property transactions.

More Info:

http://www.torontosun.com/Money/2007/03/22/3804612-sun.html

AM 640 Toronto Radio Interview, March 21, 2007

Best regards,

Sunil Deonaraine

Review: Real Estate Wealth Expo

2007-03-26T13:02:00.000-04:00

I have several photos, video of the entire Trump speech, and audio of the whole thing - - it was great.

It was also great to see so many of my old friends in one place!

51,000 People were in attendance for the first ever Toronto Real Estate and Wealth Expo. There were a large number of speakers selling "get rich quick" programs. Some were incredible salespeople, and some... not so good. Several of the speakers looked like their heads were going to explode at the podium.

Saturday highlight: Anthony Robbins. The very best podium speaker on earth. Such delivery, charisma, energy, knowledge and mastery of his material, and personal ease makes his presentation a joy to watch. He's fantastic every time. It's such an uplifting experience being in that environment that I had 5 great ideas just watching him.

Sunday was an incredible surprise for me. Richard Branson, who is one of my heroes, was incredibly flat and dull. Trump was great.

I couldn't believe that the lifeless form on the screen was the same Branson- the same crazy bastard who dressed up like the queen of England, and tried on numberous occasions to balloon around the world - nearly killing himself each time. Look up the story of his Necker Island purchase and know why I admire him.

Branson had some interesting things to say about ethics, perseverance, and corporate responsibility. The man is a forward-thinking.

Trump was great. He worked the crowd, and delivered some fantastic pearls of wisdom. I have the audio of the speech, if you want a copy just let me know.

SD

Fantastic New Tools

2007-03-12T20:52:00.000-04:00

We are in the technology age. Because of my work in Real Estate, Iuse A LOT of computer gadgets and software in my life. I recently tried the greatest tool ever invented for business.

They are having a promotion where you get unlimited "Skype Out" calls to any phone number in US and Canada for 1 year in US and Canada for 30$USD. That's a deal!!! http://www.skype.com/helloagain.html

It's perfect for me, since I already have phones I recieve calls with.

It transforms your computer in amazing ways. Now when a web page is displayed with phone numbers (think FSBO websites), I just click on the number and it connects me. No dialing. No latency. Click and dial. It's like magic. I still remember the all-black rotary-dial phone we had when I was a kid. Telephones have come a long way.

Cute features:

where if you're running Outlook, skype will automatically load your Outlook contacts for you to call.

Pamela add-in will record your phone calls

add on software that is a lie detector

I also bought the new Microsoft Office 2007. They've completely redesigned the interface. It's better.

I have 2 beefs with Office: 1- there isn't colour on Mobile Outlook, 2- they have removed the speech recognition feature included in Office 2003.

The Truth About Interest-Only Mortgages.

2007-03-07T20:33:00.000-05:00

An interest-only loan is one that gives you the option of paying just the interest or the interest and as much principal as you want in any given month during an initial period of time after your closing. You are only committed to the very low interest portion of the mortgage – and in months when you have extra cash, you can choose to pay down the principal.

We offer a variety of interest-only home loan options, including fixed-rate, variable-rate, fully open, or up to 10 year closed. Our interest-only home loan programs are offered as interest-only loans for periods of either three, five, seven or ten years.

For many, the most ap'pealing feature of an interest-only loan is that you are in control of your payment amount and your cash flow in any given month during the interest-only period, and your monthly mortgage payment will be lower than it would be with an interest plus principal payment. Your interest rate may or may not be lower than a traditional mortgage, depending on your specific situation, but you will have the option of flexible payments.

Who Is an Interest-Only Home Loan For?

There are a number of good reasons to consider an interest only loan. For instance, it might make good financial sense. On a traditional 25-year mortgage, roughly 70% of the payment goes toward interest during the first six or seven years of the loan. If your interest rate is low, then you've borrowed money at a good rate.

Instead of paying down that low rate loan, you could take the extra money you'd have each month from making interest-only payments, and invest it in something that would bring you a higher rate of return. Depending on your loan amount, you could have access to thousands of dollars over the course of several years to invest or reduce high interest debt, including credit card debt.

An interest-only home loan may also be a good option for people who expect to be in their homes for less than ten years. The average homeowner stays in their home between five and seven years. An interest-only mortgage is ideal for first time homebuyers: it provides very low initial payments, and when they can handle the costs of owning a house they can convert it to a regular mortgage.

As mentioned before, home mortgage payments are mostly interest for the first years of the loan. Many homeowners like the option of making interest-only payments and using the extra money as they please - save for college tuition, make home-improvements, or buy a much-needed new car.

Common Misconceptions About Interest-Only Loans

While an interest-only loan may be an appealing option to many, there are a number of common misconceptions that you should be aware of prior to making any final decisions.

One common myth is that if you're not paying down your loan's principal, you're not building equity in your home. This is not necessarily true. Homes in Canada have been appreciating between 5 and 6% a year. Chances are that even if you're not paying down your principal, you're building equity in your home through appreciation.

You should also know that with any interest-only home loan, you can refinance anytime you’re ready for the higher payment and start building equity.

Is an interest-only home loan right for you? Call me today and I’ll help you come to a decision that’s right for you.

This article courtesy of the Mortgage Broker Suman Singh - suman@welendmoney.ca 647-891-0644

Donald Trump in Toronto

2007-02-27T19:05:00.000-05:00

March 24 and 25th at the Metro Toronto Convention Ctr. The Learning Annex presents Donanld Trump, David Bach, and Anthony Robbins.

Everyone who is anyone in Finance and Real Estate willl be there.

I hope to see you all there!

Magic Kingdom Indeed

2007-02-07T11:12:00.000-05:00

This is the greatest place on earth. Anyone with children, do them a favour and take them to Disney. I've never seen so many people have such a good time - there really is something for everyone.

It's a clean, fun, safe place with lots of fun things to do for the whole family.

Nice flash movie of what the shows are like:
http://disneyworld.disney.go.com/wdwi/en_CA/index

The cold is getting to me

2007-01-25T17:03:00.000-05:00

Ok, so the cold is getting to me.

Many of you know that I usually spend February in the tropics, living like a castaway in a cave or a hut (anywhere with no cell phones)... this year I made the ridiculous decision to spend winter in Canada. What was I thinking???

Anyhow, I'm off to Florida for a couple of weeks. I'll be in touch when I get back.

It's like another religion in Montreal: "Florida..." Say it breathlessly for full effect.

April 15th

2007-01-25T16:49:00.000-05:00

I am having a house built. That house.

It is supposed to be ready on april 15th... of this year.

Does that look like it will be ready April 15th?

Cityplace Ultimate Producer Dinner

2007-01-25T16:28:00.000-05:00

Last week we were at the spectacular Liberty Grand for the Concord Cityplace awards dinner.

I ran in to the usual crowd - Randy and Loretta, Doris, Joy, Shiv, and the my old brokers Michael Ngai and Jimmy Wong. It was open bar, great dinner, and a great show.

There was a short presentation by UrbanNation.com (1-n?) about condo prices in Toronto. They are about 360/sq ft and climbing fast. congratulations to everyone who bought even last year for 300/ sq ft. You're going to make a killing!

Welcome Back!

2007-01-15T20:34:00.000-05:00

Happy New Year and Welcome Back!

We are working on a nice fixer upper in Markham -- ARV is 540 purchase price should be about 400 or so.

If you'd like ot make some money this year, give me a call and I'll add you to my preferred client list!

Talk to you soon.

Sunil.

Merry Christmas and Happy New Year

2006-12-24T16:07:00.000-05:00

Success Story

2006-12-12T12:20:00.000-05:00

Just a quick note to let you know hoy I can help anyone you may refer to me.

I met a nice young couple looking to expand their portfolio of properties. They didn't have any cash, but their credit was good and their motivation was excellent.

I knew of a property that looked good on paper, but was withdrawn from the market. I called the listing agent and arranged a showing and negotiated the price in advance. We knew we were in the same ballpark, so we could move forward to property inspection and interviewing the tenants.

I was in a seminar with the young couple when the listing agent called me with the go-ahead. Now they were panicked about their cash and credit situation. They had, of course, greatly exaggerated their financial stregth. I smiled and grabbed my banker (who was drifting in and out of the same seminar working the blackberry)... I told her to "take good care of them" -- banker/Realtor code for "HELP!!!"

I was pleasantly surprised when everyone came onlya few minutes later with big smiles. Mr. Buyer bounced over to where I was sitting and told me the deal: 5% down, 5% cash back, 5 years, 5.1% interest. It was a good deal. I was pleasantly surprised. I knew why he was smiling.

A few days later, my young couple shows up to the property ready to enter world of multi-unit income properties. They were very very excited to see that for 303,000 they could get a 4plex grossing 36,000 and netting 24,000. This thing was a cash cow.

The inspection was a riot! Mrs. Buyer spoke to Henry (the list agent) in Mandarin, Henry translated in to Cantonese, and the 4 tennants all spoke at once in Cantonese.

MR. Buyer and I ran though the home with the inspector. Glen Gogel was finished inspecting in about an hour. The place has some major safety and fire hazards. The roof was in bad shape. The plumbing was shot. The electrical was... modified... in an unsafe manner. This place was a powder-keg waiting to blow. I couldn't let these nice people get into this mess.

My advice was: there are 26,000 other properties on the MLS, let's find one with not-so-many problems.

Mr. Buyer was adamant - he wanted the cash cow. All he could see was the money.

After 2 hours standing in the driveway on a cold October day, with the help of his wife, and the home inspector, I was eventually able to talk him out of buying this house.

In investing, people don't need a used-house-salesman. They need a professional consultant to stop them from making a bad decisions, and help them make the right ones.

When you refer people to me, I will give them the same level of professional, client-centered-service, and I will use my powerful network of service professionals to make sure every decision they make is the righ one for them.

My satisfied clients are the reason I'm in this business. Please call me at 416-879-4805 if I can help you, or someone you know invest profitably in real estate.

Your personal real estate consultant,

Sunil Deonaraine.

Congratulations!

2006-12-12T11:51:00.000-05:00

Congratulations! You tried to reach Sunil, but I'm busy enjoying the some time off this holiday season. Please leave me a detailed message and I'll get back to you by email from Montreal or Florida and let you know your best options.

Really, don't take it personally - I am from Montreal and I like to go home for the holidays. I hope you're taking this lull in the business... this opportunity to enjoy your lives with your family.

Sunil.

How to time a Lowball Offer

2006-11-27T13:19:00.000-05:00

As many of you know, the market is in serious decline in many areas of Mississauga.

Last year when 4 buyers were bidding for one house the one who bid the highest got the house. Today, with 4 sellers trying to sell to one buyer, it's the seller that gives it away the cheapest who will sell.

Central Toronto is very strong (as usual) with a very hot condo market -- we are seeing condo multiple offers for the first time since 2001.

Markham/Richmond Hill is still healthy with supply very low right now. A low supply always equates to high prices.

If you want an analysis on your area then let me know by email. sdeonaraine@trebnet.com

Because of the market adjustment, there may be an opportunity to "steal properties." The trick in a lowball offer, is proper timing. With the right timing and strategy, the next few years can be a goldmine for you.

Low-Ball Offer: A low-ball offer is an offer on a house that is substantially less than the asking price. While any offer can be presented, a low-ball offer will usually sour a prospective sale and discourage the seller from negotiating at all. Unless the house is very overpriced, the offer will probably be rejected. In a buyer's market a motivated seller will either accept or make a counter-offer.

First lets clarify two key things: YOU LIKE THE PROPERTY & YOU ARE QUALIFIED TO PURCHASE IT

By the above I mean: you are pre-qualified by a Lender to afford and carry this property.

Now that we know you can get the property, you need to shove the seller up against the wall and make a play.

For buyers, the BEST situation to submit a low-ball offer is when:
1. Seller has reduced the price for 3rd time
2. Seller reduced price two times within 4 weeks
3. Property has been on the market for at least 4 months
4. You show up to Open House and it is empty with no names on sign in sheet
5. You find out that seller bought 5+ years ago6. Imperfections are cosmetic NOT permanent

The WORST time to submit a low-ball offer is when:
1. Seller has not reduced asking price yet
2. Home is less than 4 weeks on market
3. OH and/or showings are crowded

THE KEY
The KEY is to accept imperfections! Its VERY hard to find everything you are looking for anyway, so don't miss out on a great deal if there are a few imperfections in the property; especially ones that can easily be updated!

If you are a stingy buyer than the perfect property you are seeking will never make it into the BEST scenario for making a low ball offer OR the low ball offer itself will just insult the seller making future negotiations with you difficult.

All of this seems pretty logical and straightforward but in this business I see low-ball offers being submitted at the WORST times! There is NO WAY a seller will respond to a 1-Time Low-Ball offer if the property is only 3 weeks on the market and there were 10 people at the OH on Sunday! It's a waste of a good strategy to try and get a great deal from a desperate seller.

You must find signs of DESPERATION!! Does this person HAVE TO unload this property right now! Did they buy over 5 years ago making the deal a very profitable one for them even if its much lower than they originally hoped! Were there more than 1 price cut within a month? These are the things that make low-ball offers work! They are reduced to $550,000 from $650,000 over the course of 5 months, with 2 price cuts of $25K within the past month alone.

I know, its hard to find all of those criteria for any one property let alone one you want to buy. But, I list the BEST situation with those 5 characteristics. You don't need all of them for a 1-time low-ball offer to be effective.

SUBMITTING A 1-TIME LOW-BALL OFFER
1- Submit an offer, pre-approval, and financial anaysis
2- Clearly state your financial strength;
3- Clearly state it is a 1-time, take it or leave it, offer
4- Explain how you got to your offer, including comps, and ppsf valuations (price per sq ft)
5- State you are 'ready to close'; preferably ASAP

BE REALISTIC w/ the low-ball. Don't bid 50% below ask and expect it to work. Think about why 15% or 20% below ask may be accepted. Remember you are removing any future negotiating from the equation so this is the only bid your willing to make!

Typically, low-ball offers are made by unmotivated buyers seeking a deal. Sellers usually shrug them away refusing to play the game. This is why you MUST prove your seriousness as a buyer and submit the offer as I describe above! It's your best chance to make it work.

By removing the option of a response (taking out negotiations) you hit the desperate seller where they hurt the most, and put the ball in their court to make a deal happen right now.

Bank specials

2006-11-27T13:12:00.000-05:00

There are a number of excellent rate-sales from the Banks right now. Here are 3 of them. If you have property to finance, give me a call and I'll make sure you talk to the right broker.

whatever you're buying, if you can control the finance charges you can always make money.

Sunil 416-445-8855

No Money down on Residential Plexes

We can now offer 100% financing on duplexes, triplexes and fourplexes on both owner-occupied and rental properties to borrowers who qualify under either our 'A' or 'B' credit guidelines.

When compared to the 4.5% fee on CMHC high ration financing, 95% max, the above is a viable option for many clients desiring little or nothing down.

No Money Down

New!! The Scotia(r) 100% Mortgage Program... Another great mortgage option from Scotiabank!

This offer is available to customers who take out a new Scotiabank mortgage insured through Genworth Financial Canada.

Teaser Rates

We have the very best teaser product available. It’s through m-cap. The low rate is only the first 3, 6, 9 or 12 mos but it is still a term product with penalties to get out.

Term	Introductory	Discount	Ongoing
VIP 1 (3 month introductory)	3.49%	2.51%	5.60%
VIP 2 (3 month introductory)	5.00%	1.00%	5.50%
VIP 3 (6 month introductory)	4.25%	1.75%	5.60%
VIP 4 (9 month introductory)	4.65%	1.35%	5.625%
VIP 5 (12 month introductory)	5.00%	1.00%	5.60%
VIP 6	5.40%	0.60%	5.40%
VIP Special	5.20%	0.80%	5.20%
VIP M-Power	5.15%	0.85%	5.15%

Mind-blowing quote

2006-11-13T20:17:00.000-05:00

I'm always reading. Recently I read this mind-blowing quote from Dean Jackson. It is so simple, so elegant, so powerful, that the truth of it cannot be denied.

Is Overchoice Keeping You Average?
Here’s How To Narrow Your Focus, Choose Your Customers, And Learn When To Say NO!

Recently, I was reading a great book called “The Wizard of Ads,” by Roy H. Williams and I came across something that made me think. The passage said;
“The average American cannot say no. This is why he is average. The temptation that defeats the average American is a thing called overchoice, a deceiver that whispers, “You don’t have to choose. You can have it all.” Overchoice creates a world of too many options.”

It made me think about the Realtors and Lenders I meet all the time. Overchoice is almost always present when someone is struggling, or frustrated with their real estate or mortgage business – and a laser-like focus is almost always present in thriving businesses.
A good example of overchoice is when you cast a wide net in target markets, geographic markets, qualifying parameters and daily activities.
The ability to say no, is a skill most of us have not mastered, yet it’s the one skill that will allow us to have MORE of what we want. Narrowing your focus is a way of saying no, and allowing yourself the space to pursue what you really want.

Wow.

I am also reading the Little Black Book of Connections by Jeff Gitomer - of the Sales Bible fame. It is an extraordinary book about networking and the future of business.

Agent Corner: Customer Service

2006-11-08T13:12:00.000-05:00

What is customer service? What is our jobs as agents?

Our job is to sell the house the seller wants sold. And buy the house the buyer wants bought. Period. That is what we are hired for, and what we are paid for.

Education is part of the process in getting a contract signed -- and therefore part of the process of selling a home. But education isn't our primary job - and the vast majority of people don't really want to know how we do it -- they just want the home sold.

Think about it this way: when you look at a recipe card, you see a picture of a cake. What you don't see is the messy kitchen necessary to create that cake. In very much the same way, sellers want the home sold without being exposed to the nitty gritty of what we do and why we do it.

All the client cares about is cake. So give it to them!

Sunil.

.
PHOTO: MERINGUE, CHOCOLATE, AND KIRSCH CREAM LAYER CAKE
http://www.epicurious.com/recipes/recipe_views/photo/108902
.
.

.

Success Story

2006-11-08T12:39:00.000-05:00

This is a quick note to let you all know how I can help anyone you would refer to me.

In the early fall I met a nice young couple in their brand-new high-end home. They were under financial pressure, and were extremely stressed about selling quickly. Having bought from the builder some time back, when they finally took delivery, things had changed in their lives. Their beautiful dream home was much more than they bargained for. They had bitten off more than they could chew. They were in trouble.

I suggested a strategy that would get a great price and put them in control of the timing. They accepted and I went to work. I employed some very specific marketing strategies to give their home maximum exposure in a minimum amount of time. Frankly, I had my doubts about getting the price they wanted.

Shortly after I placed the home on the market, we had an excellent offer from a buyer who loved the home. In the negotiations, the price went well above expectations, and the closing date was fast. The sellers were overjoyed! The buyers were also happy! Thirty days later the buyers were moving into their dream home.

When you refer people who are looking to sell a home, I will give them the same level of professional service and special attention to their needs, that I gave this young couple. My satisfied clients are the reason I'm in this business.

Please call me at 416-879-4805 if I can help you, or someone you know.

Your personal real estate consultant,

Sunil Deonaraine.

I Saw Bigfoot!!!

2006-11-02T21:10:00.000-05:00

I have lived in Toronto for 10 years. I have heard stories of a mythical creature that exists out west. I have never seen, nor has anyone I know ever seen this mythical creature. But we have all hear a lot about her. It is the ever-elusive mayor of Mississauga: Hazel. We read about her and see her on tv, but I defy you to find one person who has ever met her!!! I thought she only appeared to the media... but I was pleasantly surprised Thursday evening when she appeared at our party.

Here is the story: I am lecturing all week long, with a break on Thursdays so I can attend a course and hear someone else lecture. A new Keller Williams office is opening in Mississauga at Mississauga Rd+Derry [near Lion's Head] and the "grand opening soiree" was on Thursday evening. Champagne, live music, politicians kissing-up, fine food, you know: the works. As I am enjoying yet another delicious salmon puff, my wife pokes me in the ribs and points me to a tiny elderly woman standing near the cake - clearly waiting for a slice. I elbowed my way through a throng of hungry Realtors to get this picture, then took great pains to crop my wife out of the photo.

Thanks to Rick Sergison and crew: great office, great people, great party!!!

MISSISSAUGA CLIENTS: NOW we have a great place to meet and do business! NO more Second Cup on Hurontario!

Businessbuilder Tip: voicemail

2006-10-31T20:31:00.000-05:00

Do people return your calls?
When called, do people leave messages for you?
If no, then you need my help.

Here's a tip for all of you:
one of the biggest pet peeves I have is voicemail -- The extremely poor quality of messages being left on machines around the world. How can we ever call you back if you don't say your name, leave your complete number, and a good time to reach you? Believe me, I get at least one person a day who stumbles on their own name, or leaves me a 6 digit phone number.

If you've ever gotten a voicemail from me then you know I'm speaking loudly, speaking clearly, and I say my number twice. 10 seconds tops, and I'm happy to include an action plan for you. (call me later or I'll call you tomorrow.)

Tips for leaving voicemail:
+when leaving voicemail s-p-e-a-k s-l-o-w-l-y
+leave your name and the reason for your call
+leave a good time to reach you
+leave your number twice and speak s-l-o-w-l-y so people can write down your number
+hang up the phone (I don't want to hear you order lunch)
+keep it short
+leave only one message in a 24 hour period unless you have a stalking problem
+hit # and review your message and see if you would return your own call

Think of it in text message terms: it has to be said in 160 characters.

Tips for your outbound message:
My outbound: "Congratulations, you've reached Sunil - I'm busy buying a house right now. Please leave me a detailed message... and... perhaps, one day, I'll buy your house."

THE GREATEST article ever on outbound voicemail

Fix your voice message now!

How do you greet your customers? Does this greeting sound familiar? "I'm either on my phone or away from my desk." No kidding. Pathetic.

"No, no, Jeffrey," you say. "I tell people what day it is." "It's Monday and I'll be in meetings in the morning and I'll be in and out of the office in the afternoon." Pathetic.

I don't care what you're doing. I called to talk to you.

Voice message is America's sales enigma. Everybody has it and 9,999 out of 10,000 have a pathetic message.
.

Read it, like it, do it, love it.

Hot Deal: Multiplex selloff

2006-10-27T06:46:00.000-04:00

I've said for years that the best time to buy investment property is the window from Oct 1- Dec 31. The best properties are owned by really old people- and maybe this is the winter they decide to pack up and move to Florida.

I've found a real GEM of a selloff.

Multiplexes in GTA:
1- 115 plex
2- 67 plex
3- 2x34 plexes packaged as one

Good deals.

Anyone who wants to help this nice lady retire to Florida this year, give me a call and we'll try and get you a multiplex for cheap.

Sunil 416-445-8855
.
.
.

Market Forecast: TD Economics

2006-10-26T20:46:00.000-04:00

TD Economics has weighed in on the future stability of Canadian home prices. Direct link to PDF report: Click Here

The most interesting part of the report is the last paragraph that indicates what Realtors have seen for 3 years now: first-time buyers are few-and-far between, and "the action" is in high-end homes with larger square footage.

Canadian home prices will rise during the next 25 years, says a new long-term forecast by TD Economics. But not all homeowners will benefit equally, says the report.

It says larger cities where land scarcity and demand for housing is the strongest are likely to experience price gains above the national average. Victoria, Vancouver, Toronto and Montreal, which have had the most rapid price gains during the last 20 years, will continue to experience increases above the national average. Toronto and Vancouver, in particular, will benefit from their ability to attract immigrants, who will play a greater role in the pace of Canadian population growth going forward, says the report.

Calgary and Edmonton will also break away from their historical performance. Over the last 20 years, average annual price gains in these cities have been flat, but the report says the “stars are aligned” for these cities to experience above-average price gains in large part due to favourable economic prospects, stronger projected population growth and younger population than many other provinces.

“There is no question that the recent dramatic price growth in Vancouver, Calgary and Edmonton is unsustainable, and this poses risks in the near-term,” says Craig Alexander of TD Bank Financial Group. “Nevertheless, over the long haul, property values in these urban centres should do well, but the average annual price increase should be at a mid-single digit rate.”

It's funny to see that in real terms, prices have fallen in Edmonton for 25 years (table pg 3) That is one heck of a long losing streak!!!

Direct link to PDF report: Click Here

Eid Mubarak!

2006-10-23T19:23:00.000-04:00

Belle du Jour

2006-10-23T19:02:00.000-04:00

The Star of the night:

Friday evening was dinner with the Wards at the restaurant Malaysia in Richmond Hill. The food and company were fabulous, they actually had to apologize and throw us out at 11pm.

This is a stunning new redesign of the family favourite. Can you believe this used to be a diner?

Now the decor matches the incredible food.

Happy Diwali

2006-10-21T01:12:00.000-04:00

Hot off the press

2006-10-20T12:25:00.000-04:00

New commercial condo being sold with solid lease: triple net, 22$/sf + TMI. Not on the MLS yet -- 230,000. This is in N11 Markham, and is a rapidly growing area around BurOak. Hot Deal for cheap 230,000

Cash Cow

2006-10-20T09:39:00.000-04:00

I have a nice 4-plex, cash cow, for sale. I will put it on the MLS on Nov 1st - so this is your chance to buy before that.

This is from a small investor breaking into the big-leagues with a multiplex and dumping the small stuff.

Price: 450
Gross: 47
Clean Net: 9
VTB available; Nothing-down available.
Positive cash flow at 100% leverage.

Call me directly if interested. This is a no-brainer.

New Seminars
As part of our businessbuilder series, In November we will have new seminars on Real Estate Investing.

$199 per person. Learning Path: Yield Analysis, Lease Options, and Joint Ventures. These courses are multi-lecturer, in-depth, case-study based, and hands-on. Call for more details. 416-879-4805

SD

Adventures in Sherwood Forest

2006-10-19T20:52:00.000-04:00

Last night we had dinner with Robin Hood and Little John. We were at Biff's on front street, in front of the Hummingbird Centre. I wasn't 100% healthy yet, but I was tired of being at home.

We arrived early to find the restaurant surprisingly packed with...(wait for it) .... old people. I half-expected someone to greet me at the door with "welcome to Jurassic Park!" Tom (who is about 6'2") was nearly swept away when the Dinosaurs stampeded across the street to the Paul Simon concert. [Just Jokin'!!!]

Dinner was good - and those two are always great company. The foie gras and creme brule were excellent.

Tom and Virata are always so full of amazing ideas about real-estate and the future of this business; if they only execute on 10% of their ideas, they'll be so far ahead of the crowd it won't make any sense.

**Everyone** should attend their seminars and learn how they made a million before the age of 25 -- and in one year. 199$ per person is cheap for this kind of duplicateable knowledge.

Great dinner quotes:
"Do you always have to talk about real-estate!?!?" [From my wife.]
"I hired an ex-con, but the parole officer kept an eye on things..."
"I used a government program and paid him 1.50 and hour."
"What do you mean Sunday at 9am is too early for real estate???"
"Do you think people will want to hear us speak?"

FYI:
For you Hindu/Sikh friends, Diwali is Sat the 21st in the evening.
For your Muslim friends, Eid is Tues the 24th.

SD

Notes from TV

2006-10-18T11:25:00.000-04:00

As many of you know, I don't regularly watch tv - with the notable exception of Survivor and the Apprentice. But I've had the flu for the last few days, so to accompany the high fever and dizzyness I've taken to watching enormous volumes of television.

Sunday night on TVO there was a grim documentary about poverty and homelessness in Ontario. It was shocking to see a family of 8 being forced to "camp out" in what is the richest and most stable society on earth. After the show finished, I flipped over to the CBC news and caught a segment on the revitalization of "Old Havana" and the prominent role the Government of Canada is playing in building houses in Havana, Cuba. I had to double-check the exiration date on my Robitussin... I had to be dreaming... but I wasn't. The irony of how our governments spend their budgets.

Last night (Oct 17th) on one of the best informative shows on tv, The Agenda with Steve Pakin http://www.tvo.org/cfmx/tvoorg/theagenda/ he interviewed a numher of experts and highlighted the stellar success of the Albertan economy. Notable stats like 27% of all profitability in Canada comes from Alberta, 12% agerage economic growth for the last 5 years - a figure that matches mainland China... industrial growth... infrastructure growth... etc.. etc...

It was a good episode - watch the Podcast.

It still won't cause me to invest/speculate out west, but it was very informative. As many of you know, I don't think much of real-estate in Alberta. 8000 annual transactions for the entire province. In Toronto we do 9000 per month. I'm from Montreal and they do 5000 per month. So I think it's little-league, and strictly for small timers. But the Economists seem to think that it will grow for the next 20 years. So someday in the future it will be "ready-for-prime-time" probably when my grandkids are ready to invest. Anyone who wishes they'd bought that house on Eglinton Ave. for $30,000 in 1980 knows the sting of failing to have along term vision. [That house is about 800k-1 mil today.]

Trumplike business rule: Every investment strategy must have both short and long-term focus. Being overly focused on short-term income will blind you to very lucrative opportunities that are [always] slower to mature. Anyone who has read the 7 habits will recognize this one.

Simply put: it's like dropping out of law-school to work full-time at your part-time McJob. The McMoney you get today will cost you lawyer-money in the future.

Flip a house

2006-10-18T11:21:00.000-04:00

If you think you have what it takes to be in the "flipping" game, then I invite you to play this game
http://3form.net/mansion_impossible/

Have fun!

I won in 12 years 6 months - let me know how you did.

Businessbuilder Tip

2006-10-14T14:36:00.000-04:00

Here is a simple tip on how to build your business. Every business is a numbers game: the more people you talk to, the more successful you'll be.

This tip is from the legendary Tommy Hopkins from the 1970s.

Put 10 business cards in your pocket every morning, and you don't go back home until they're all given out.

Let's look at it:
10 cards * 5 days = 50 contacts
50 * 4 weeks = 200 contacts
200 * 10 months = 2000 new contacts every year.

Whatever your business, you will be more successful if you tell 2000 people about it every year. But it starts today with 10 business cards.

Trumplike Business Rule: Break every large goal into small manageable daily tasks. How do you eat an elephant? One bite at a time.

(Thanks to Chris Leader and the Leader's Choice for this reminder.)

Good help is hard to find

2006-10-13T19:39:00.000-04:00

Oakville Investor Networking
Saturday, October 14, 2006
Oakville Town Hall,
Oakville Room, 1225 Trafalgar Road, Oakville(QEW to Trafalgar, North on Trafalgar to 1225 Trafalgar - Will see sign that says Oakville Town Hall) ---- Municipal Office for the Town of Oakville
Time: 1:00 p.m - 4:00 p.m.
Cost: $5.00 per person

(Apologies for the "to" line in the last email.)

Youth will be served

2006-10-13T13:30:00.000-04:00

In the last few weeks I have met the most staggering array of business talent- and they're all under 25.

Brian has sold his current stock of 17 Edmonton properties and is starting a redevelopment project. Tommy and Virata have done a bunch of deals: flips, lease options and multiplexes. This gang of youngsters is pushing 100 real estate units in one year. And they do transactions in different cities and provinces. It's an impressive feat when you think about it.

How did they do it? Maybe it's because no-one ever told them that it couldn't be done.

Could you do it yourself? Yes you could -- if you had the plan to do it. Email me and I'll set you p with a 15 minute businesss plan-- that if you follow, could make you millions.

See everyone in Oakville on Saturday!

SD

CMHC Market forecast

2006-10-07T15:25:00.000-04:00

I have heard that many of you think the market is going down in the GTA. It has gone up for 11 straight years... it might be time for a correction.

I personally think the idea is ridiculous, but I'll rely on the sound judgment of CMHC for the final word on that.

CMHC market forecast - register and it's free:

Housing Outlook Conference 2006 — Toronto
November 9
Toronto Convention Centre, South Building
255 Front Street West
Toronto, Ontario
http://cmhc.ca/en/evca/evca_002.cfm?event=444&fr=20061007150051

It will answer the key questions: where is the market going? And answer that question for every major market in Canada.

If you plan on being in the real estate business, you have to attend this event.

Foreclosures

2006-10-06T09:17:00.000-04:00

I was talking to my friend Hari on Tuesday, and we both work foreclosures so the conversation naturally went there. IT is a very lucrative but frustrating business.

The major problem in dealing with pre-foreclosures is the time factor. People call you on Monday because they're losing the house to the sherrif on Friday. (And they're not exactly honest and forthcoming.)

Common Sense Tips for dealing with pre-foreclosures:
1- ask to see the original correspondence from the bank and the bank's lawyer.
1.5 - Ask yourself: is there any equity and profit in this deal? If yes then proceed, if no then refer it out to a seasoned investor.
2- budget an additional 5% for closing costs: If they haven't paid the bank maybe they haven't paid the taxes or light or gas bills either.
3- on closing, invest in some good title insurance policies to cover the above expenses you missed
4- If they won't give you access to the original correspondence, then cut your losses and move onto the next deal - not everyone who needs your help will have the good sense to co-operate with you.
5- Once it goes to the lawyer, the game is usually over. So do everything possible to avoid this.
6- If you've bitten off more than you can chew, then call for backup: refer out the deals that are too big or too difficult for you. You'll have the opportunity to cash in on a seasoned investor's work.
7- Always remember that we are helping people by saving their credit.

I'm sure this is obvious to everyone, but it helps to remember the basics before we get to the advanced level.

I hope everyone has a very happy Thanksgiving weekend!

P.s. If you know any agents looking to make more money then give me a call. I am hiring. Excellent incentive program.

Great Seminar!

2006-10-01T22:46:00.000-04:00

Saturday's banking seminar was great! Douglas Gray is a magnetic speaker, and he demonstrated his masterful knowledge of mortgage financing!

We are glad to bring you the very best in Real Estate Education - for free. Thanks to everyone who attended!

Doug really open our eyes to the fierce competition among the lenders - from the 100% on 4plexes, 3 different lenders lending 107% financing, 95%ltv for bankruptcies, and the other dazzling array of mortgage products available to us. There is a river of money out there, and he helped us understand how deep the river is.

After the seminar I dropped into the home show. It was small, and frankly, not worth the drive into the city. Where were all the big builders? Even the small builders were strangely absent. I hope the Mississauga show next week is bigger and better.

The Nerve!

2006-09-29T11:11:00.000-04:00

Real estate would be a great business, if it wasn't for the people...

As many of you know I'm hosting a seminar on Saturday in a small venue. Admittedly, it's a good one - how to structure the financing on investment properties. I've seen good deals killed because the financing caosts ate all the profits. I just saw a 50k flip destroyed because the cost of borrowing was too high --- so this seminar is very useful.

You should hear and read the messages of people wanting to get into this thing: "I think I should... I have the right... It's not fair... You have to..." All I have to ask is: whould you like some cheese with your whine?

And for the complainers: why do you want to come to a Moneylending seminar when you have no deal to fund? Find a deal, and we'll come to you.

Trumplike Business Rule: Execution beats knowledge any day of the week. This seminar is only as useful as your ability to buy property.

Many of you have called me with deals and want an opinion. Seasoned vetrans helped me in the beginning of my career, so I help other people. I'll always give 15 minutes for a quick consultation on the quality of a deal. It can ususally be over very quickly, but new investors need reassurances and tips on how to proceed.

An unfortunte incident happened yesterday - a novice investor wanted help on a deal. "Send me the numbers and all the details" - is my standard reply to any written request. Another email from him wondering about how he'll get paid, and what happens if they don't pay... "Send me the numbers, if the deal is good you can name your price." Another drama-ridden email. Ok, "Send me the numbers or go away." He sent me yet another long email with no numbers!!! Deleted email, modify personal record in my database "time thief".

Trumplike Business Rule: Time is money. Be stingy with your own time, and respect other people's time.

Have a great weekend! I hope to see some of you at the Salsa Party Friday, the Banking Seminar or at the Home Show on Saturday, or the "the Secret" on Sunday.

Leads

2006-09-27T14:30:00.000-04:00

The business is so much easier now that ever. There is a new service that started recently that delivers foreclosure leads to your email.
http://www.foreclosureleads.ca/

They didn't have this when I was doing foreclosures. I had to go and hunt, and "beat the street" to find a deal.

You know what the best thing is?

It's free.

Could it be any easier?

Success

2006-09-26T12:27:00.000-04:00

Last night I attended the Landmark Forum. I didn't want to go, but someone I respect speaks very passionately about the work they do - and it is excellent work. Thanks Virata! (I've never seen a man eat so many chicken wings!)

It's funny to see civilians/non-business people in that type of "performance coaching" -- I've been an executive and entrepreneur since I was 24, and over the years I've been through A LOT of seminars and read a ton of books on how to improve my mindset and profits. Mike Ferry, Mike Vance, Captain Gerry Coffee, Bob Kreigel, Tony Robbins, and Larry Wilson - just to name a few.

Mindset is so important in business. The top producers, top income earners, and top executives are always taking courses. These incredibly driven and self motivated people don't take courses on how to do things, we take courses on how to think. Larry Wilson's writings on how to build a business and corporate culture were priceless to me while I was in that business.

I've just finished a great book by Joe Montana "The Winning Spirit". Read the reviews for yourself. Truly inspirational stories from a warrior.

Here's an invitation to another event:

On Sun, Oct 1 @ 1pm - "The Secret" -- This ground-breaking feature length movie presentation reveals The GreatSecret that's utterly transformed the lives of every person who ever knewit... Call or email me for details Email me

It a tough town

2006-09-25T11:07:00.000-04:00

Ok, so we didn't get the house. It's a tough town Toronto. The house was on the market 12 hours, and we were outbid in multiple offers. Congratulations to RH who had the guts to make a firm offer on a property he hadn't seen yet. You can't win if you don't play the game!

I did find this nice new site - http://www.foreclosureleads.ca/ they are new so get it while it's still free!

Who you know

2006-09-22T21:25:00.000-04:00

It's never what you know... it's always who you know.

I popped into the office for a quick bite of milk-and-cookies this afternoon and struck up a conversation with another agent. He just took the listing for a fixer upper, but he's going out of town this week so he priced it at the discount value of 289,900. The ARV is indicated 410+.

I couldn't resist checking.
1st comp: listed 359,000 sold 423,000. wow.
2nd comp: listed 399,000 sold 435,000. impressive.
3rd comp: listed 479,000 sold 480,000. ok, I'm sold.

Math: worth 410 (conservative) buy for 290= 120k. Associated closing rehab and holding costs = 50 k. 70k profit. Sweet.

There's an investor who's been on my a$$. He's looking for a deal and calls me every day to remind me. I call him and we have an offer on the property within 15 minutes. Sight unseen for the sake of urgency -- I'm just trying to head off the inevitable multiple offer.

I'll let you all know if we got it.

Cityplace Sale Day

2006-09-22T18:41:00.000-04:00

Thursday I was invited to sell at the VIP sale for the last phase of the incredible Luna Project at Cityplace. As usual, the sales centre was full of investors guarded by the usual investor agents. We sold the building by 3pm.

I am still shocked at how high the prices have risen in the last year. In September '05 we paid $300/square ft for the Montage building, this year we topped out at at an incredible 438.sf. It's still much cheaper than Maple Leaf Square accross the street -- which was 450/sq.ft. and 25% deposit without exceptions.

The mind boggles at how high the prices can go in the downtown core. Re/Max analytics has published an excellent report on the Toronto Condo Market

"Today’s investors are strategic, targeting high-rise opportunities that will net a good longterm profit. For example, investors snapped up condominium units in the new Maple Leaf Square development because of location and underground connection to the city’s financial district. Investors are also holding onto their investments for a longer period of time thanks to a government GST rebate available to those who rent their units for at least a year. Compared to major centers like New York and Vancouver, condominiums in Toronto’s downtown core offer good value for the dollar."

Congratulations to anyone who bought last year!

Toronto Real Estate Investing News

I've moved to sunilhomes.tumblr.com

Markham update: Big News at Kennedy and Steeles

The Trump Hotel and Tower

Merry Christmas

Sale day and the day after

Cityplace Parade 2 Courtyard

GTA real estate proves resilient

Record Breaking June in Toronto Real Estate

Wisdom of time.

Phone A Friend

US Foreclosure and Bailout News

Cityplace Parade 2

Condo with 500$ down payment

New FINTRAC rules for real estate

Information for:Real estate

Your Obligations

How Hot is Hot?

Market Update

Foreclosures mean opportunity for Habitat charity

Foreclosures mean opportunity for Habitat charity

Anthony Robbins in Toronto

Big news in Oakville

Better Business Busybodies

2007 Breaks all records.

Merry Christmas and a Happy New Year!

The US sub-prime crisis in graphics

Market Update: Condos selling like hotcakes

2008 GST/HST Rate Reductions re: New Housing

Province Expands Provincial Land Transfer Tax Rebate

Details of Approved Toronto Land Transfer Tax

Motivated Seller

One Bloor Condo Sale

Bill Clinton Comes to Toronto!

Happy Diwali!

Pier 27

What's 'beautiful' worth? About $12,500

A recent article in MSN Real Estate provides some interesting observations which we thought you might enjoy.

New and Hot Tech

Why a Shopping Mall

Sitara Shopping Mall

Nautilus by Monarch

Rotary Ribfest in Burlington

CREA National Real Esate Forecast

Anthony Robbins Comes to Toronto!

Toronto Tax Battle

Condo crazy in Toronto

Dozens line up overnight to purchase condos

True North, Strong, and Free

Rent To Own in Detroit

Concord Park Place - Sale Day

Thoughts on Intellectual Property

Long Weekend Update

Concord Park Place

Public Hearnings on New Toronto Taxes

Toronto Pre-Construction

Pre-Construction in Alberta

Thoughts on outsourcing

Billionaire Bill Bartmann in Toronto

Come and join us for a FREE Evening Event with Bill Bartmann.

This seminar is FREE but attendance will be limited to those who register from this site on a “first come” basis.

Reserve your seat at this life-changing event – before all the seats are gone.

Fight the new City of Toronto Tax

Review: Real Estate Wealth Expo

Fantastic New Tools

The Truth About Interest-Only Mortgages.

Donald Trump in Toronto

Magic Kingdom Indeed

The cold is getting to me

April 15th

Cityplace Ultimate Producer Dinner

Welcome Back!

Merry Christmas and Happy New Year

Success Story

Congratulations!

How to time a Lowball Offer

Bank specials

Mind-blowing quote

Agent Corner: Customer Service

Success Story

Information for:
Real estate