Just a quick note to wish everyone Happy Holidays. May you enjoy this holiday time with your family and friends and here's to looking forward to 2009!!
Krista and Sherri
www.lawlessbrown.com
Showing posts with label vancouver island. Show all posts
Showing posts with label vancouver island. Show all posts
Thursday, December 25, 2008
Thursday, December 18, 2008
Great Links to Let You Know What is Happening in the Housing Market
| MCAP Expert Partner, NEWS LINKS |
|
Respectfully Krista and Sherri |
Wednesday, December 17, 2008
The Best Investment Ever
Victoria is officially a buyer's market with more properties on the market then buyers. What a wonderful time to build your nest egg. Have you ever thought about buying a rental house than balked thinking it would be too difficult?
Let's make 2009 the year to build your nest egg. There is a large selection of houses out there. I personally like single family houses with a suite. I like to have houses with three bedrooms in the upper part of the house and a two bedroom in the bottom. Rents are averaging $600 a bedroom which means on a three bedroom you could be making $1700 - $1800 a month in rent and on a two bedroom, around $1200. That covers your mortgage and more especially if you have an interest only mortgage or a variable rate. Prime is 3.5% right now.
Now you may be asking yourself, "where am I going to get a down payment?" Do you have a house now? Do you have equity in it? Why not make that equity work for you? Pull it out and use it as a down payment for another house. I have done this three times thus far resulting in four houses and my partner, Sherri, has done this twice resulting in three houses for her.
My sister was my inspiration. She came back from travelling with this goal of buying one house a year for the first five years of living in Victoria. Both our families became partners to spread out the risk and it is one of the best decisions we have made. We now own four houses and are considering a fifth. My sister gets mad when she doesn't reach her goals!!!
She does all the landlording and I do all the mortgages making it all work. If you want, I would love to show you how. Our goal is financial independence in the future and we're closer and closer to our goal everyday.
Cheers
Krista
krista@lawlessbrown.com
http://www.lawlessbrown.com
PS> you should see the tax write offs involved with a rental property!!!! but that's for another blog at another time.
Let's make 2009 the year to build your nest egg. There is a large selection of houses out there. I personally like single family houses with a suite. I like to have houses with three bedrooms in the upper part of the house and a two bedroom in the bottom. Rents are averaging $600 a bedroom which means on a three bedroom you could be making $1700 - $1800 a month in rent and on a two bedroom, around $1200. That covers your mortgage and more especially if you have an interest only mortgage or a variable rate. Prime is 3.5% right now.
Now you may be asking yourself, "where am I going to get a down payment?" Do you have a house now? Do you have equity in it? Why not make that equity work for you? Pull it out and use it as a down payment for another house. I have done this three times thus far resulting in four houses and my partner, Sherri, has done this twice resulting in three houses for her.
My sister was my inspiration. She came back from travelling with this goal of buying one house a year for the first five years of living in Victoria. Both our families became partners to spread out the risk and it is one of the best decisions we have made. We now own four houses and are considering a fifth. My sister gets mad when she doesn't reach her goals!!!
She does all the landlording and I do all the mortgages making it all work. If you want, I would love to show you how. Our goal is financial independence in the future and we're closer and closer to our goal everyday.
Cheers
Krista
krista@lawlessbrown.com
http://www.lawlessbrown.com
PS> you should see the tax write offs involved with a rental property!!!! but that's for another blog at another time.
FREE Newsletter
So we have started a monthly newsletter. It's full of interesting tidbits about the housing market, bank rates, jokes, cartoons, Did you knows? etc. It will get sent out to your mailbox once a month and is quite an enjoyable read. If you would like to receive this FREE newsletter, just go to www.lawlessbrown.com and sign up. Enjoy.
Monday, December 15, 2008
Real Estate Investing in Victoria
The funny thing about investing in Victoria is that it hasn't really been hurt by this market. The prices have gone down however the rental market is still hot. Only 5 in every 1000 rental suites are vacant and rents are high.
So we both invest in Victoria and between us we have eight rental suites and two vacation rentals. We have yet to have one of the suites vacant for more than a month and have been extremely lucky with tenants.
Some of the rentals have interest only mortgages with variable rates which make sense when they are truly income properties. Some of them have variable rates and pay off principle and well we keep researching to see what the best mortgage is for our needs. We love having rental properties and know that these will be our nest egg in the future.
We also love to show people how to be real estate investors. Once you have everything set up..they basically take care of themselves. We can show you how and tell you about the pros and cons.
The best thing we did was join the Rental Owner's Management Society. The other cool thing we did is follow our passion and become mortgage brokers. The real estate market is fascinating so why not work in an industry you love?
So over dinner one night, the Lawless Brown Mortgage Brokers came to life. Thank you so much to Arlene Modderman for helping us become part of Mortgage Depot. What a wonderful company full of knowledgeable people to assist us in being the best that we can be. The other wonderful thing we did was hire a dear friend of ours to help us design our website and between her and our dear friend Janis, the following was designed
www.lawlessbrown.com
We loaded it with free info and a free newsletter. We hope the info on it will motivate people to invest in the Victoria Real Estate market and set themselves up for a financially independent future.
So we both invest in Victoria and between us we have eight rental suites and two vacation rentals. We have yet to have one of the suites vacant for more than a month and have been extremely lucky with tenants.
Some of the rentals have interest only mortgages with variable rates which make sense when they are truly income properties. Some of them have variable rates and pay off principle and well we keep researching to see what the best mortgage is for our needs. We love having rental properties and know that these will be our nest egg in the future.
We also love to show people how to be real estate investors. Once you have everything set up..they basically take care of themselves. We can show you how and tell you about the pros and cons.
The best thing we did was join the Rental Owner's Management Society. The other cool thing we did is follow our passion and become mortgage brokers. The real estate market is fascinating so why not work in an industry you love?
So over dinner one night, the Lawless Brown Mortgage Brokers came to life. Thank you so much to Arlene Modderman for helping us become part of Mortgage Depot. What a wonderful company full of knowledgeable people to assist us in being the best that we can be. The other wonderful thing we did was hire a dear friend of ours to help us design our website and between her and our dear friend Janis, the following was designed
www.lawlessbrown.com
We loaded it with free info and a free newsletter. We hope the info on it will motivate people to invest in the Victoria Real Estate market and set themselves up for a financially independent future.
Who we are!
Back in 1993 after too many years of snow and sub-zero temperatures in Northern Ontario, Krista made the move to beautiful BC and began working in the restaurant industry while attending Camosun College.
Again in 1993 after many trips to Australia, New Zealand, Fiji, Mexico and so on Sherri decided that she should settle back down to work, plan and pay for her next adventure.
In 1994 we found ourselves working together at a local restaurant becoming fast friends. Much history and many stories were made throughout those four years and even after we parted ways work wise, the friendship remained strong.
During the years at the restaurant we both found our prospective partners and after approving each other’s choices in husbands we helped plan and stood up for each other on our wedding days. After many years of friendship, 2 weddings and 5 baby boys later we have chosen to work together again, this time as mortgage brokers.
Our two families are very close and enjoy spending time together, skiing at Mount Washington, motorbike riding, travelling and camping together.
It only seemed natural that our friendship should blossom into a business relationship and it is the best decision we have ever made.
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