778.968.4968 [email protected]
Oakridge Center 也来凑凑热闹

Oakridge Center 也来凑凑热闹

受到加拿大以高档、豪华为特色的开发商 Westbank 的邀请,因为时间许可,地点方便,平时对楼花不太感冒的我还是决定晚饭后一探究竟。周二(11月13日)风雨交加之夜,当我快到 parking 时,分明 Mall 已打烊,汽车却一部一部排成长龙,我还以为是黑色星期五抢购呢。 

走进商场,看到乌泱泱一片经纪的同行们,当然不乏熟悉的面孔。虽然我参加的楼花发售仪式不算多,但像这样的阵仗实不多见。现场经纪数量千余人,商场中央梯台一字排开,看样子有好戏看了!

注:该项目图片3D渲染图片来自 https://www.wallpaper.com/architecture/Oakridge-henriquez-partners-vancouver 

 

不多久 Westbank Corp. 的创始人 Mr. Ian Gillespie 开始阐述他关于Oakridge Center 重新发展的想法与理念。”to use architecture to support the culture, enrich people’s life…” 听起来 Gillespie 先生要用尽全身功力,创作出”博士后“级别的作品: 号称温哥华的第二个市中心,全世界最知名的室内外设计师,最环保绿色,most sustainable building… 在他的演讲过程中穿插着现代社区生活展示、芭蕾舞以及模特走秀等等。

Ian 邀请了 Goh Ballet Academy Director Ms. Chan-Hon Goh (吴振红)作为多元文化的代表进行了演讲。她生于北京,父母曾是中国芭蕾舞团的台柱子,70年代中期来到加拿大。Ian 特别想引导她讲述当年来加拿大的背景,Ms. Goh 似乎有意回避这个话题。这让我想到了一部电影 Mao’s Last Dancer , 算是当晚的插曲之一吧!

 

最后分享一下个人看法,想到哪就说到哪。

  • 目标市场。据说该楼盘单价$2,600/平方尺起,想要住的舒服些,随随便便一套200万加元起。我认为的潜在买家为:少量的第一次购房者为,年青精英等;或家有闲钱者,实在也没有其他更好的投资项目的,这里引用一个新名词 satellite families (太空家庭), 似乎政府把 foreign owner 与 太空家庭在投机税方面视为一类,但我还是有很多疑惑,很多会计师也有不同的看法,至少我很怀疑投机税对于太空家庭的操作性;第三类的潜在买家是海外投资者,虽然各级政府出台很多政策打压海外投资者,但 who cares,不能让贫穷限制了我们的想象力。
  • Ian 先生声称的”support culture”,可能达到的不是多元文化吧,大多本地家庭是望而却步的。Westbank 就曾因为 Target 中国有钱买家受到批评 (多伦多星报新闻)。地产经纪是有钱就赚的行业,看看最近朋友圈风靡的帖子吧,VIP, VVIP,VVVIP的经纪们“保证拿盘”… 也是醉了。健康的房产投资是要有一定周期的,至少持有5年以上,选择“对”的地产会有不错的回报的,利用房地产赚快钱的时代已经过去了。当然我并非否定 Oakridge Center 的投资价值,毕竟我们BC省200多万居民的退休基金都参与进来投资了,不能陪钱呀!但是可以看看开车10分钟之内的距离,包括温西及部分温东的区域,在当前市场条件下,我以为反而更具有投资价值。 
  • 有幸读了关键人的 BIO , 想到了几个关键词:UBC, MBA,慈善家 Robert Lee, China。一个的人成功有偶然的因素,也有必然的因素,我们在教育自己孩子的时候,往往想到的是医生、工程师、IT专家,而不太考虑 Politics,Humanity 的方向,其实最后我们都在为他人工作。当然当医生、律师还是很好的,我们华人父母都会很骄傲的,一个好的职业能够带来财富,但是并不能保证健康与快乐!
BC楼花转让登记制

BC楼花转让登记制

BC省于11月5日正式通过楼花转让登记制度(Condo and Strata Assignment Integrity Register- CSAIR)以打击“炒”楼花附带的的偷税漏税现象,以增加楼花转让的透明性与公正性。

新制度规定从2019年1月1日起,销售楼花的发展商必须:

  • 在合同里向买家声明新的信息收集与报告制度;
  • 在转让合同里收集转让双方的税号、生意信息等;
  • 把收集的信息输入政府的网上登记系统。

BC省政府会把相关信息汇总并报告给加拿大税务局,以确保相关人按照收益缴纳收入所得税,并且过户买家按照最终准确价格支付房产交易税。

To learn More, read the regulation: https://www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/condo-strata-assignment-integrity-register

估计很多人会关心新政策是否会影响已经买了楼花的并在2019年1月1日之前转让过的案例,当然目前也没有很明确的说法,最好咨询专业会计师,并向开发商查询。不过,赚了钱,交些税,睡得也会安稳些吧!

Renovation Management Experience

Renovation Management Experience

From the website SEO point of view, I should update my blog regularly, but it has been more than 2 months since my last input. Yes, it’s very busy for the home inspection business, and I read a news today at Vancouver Sun and said ‘Hot Vancouver real estate market boosts national housing number…’ wow, no wonder! I don’t think that is a good news for potential buyers, but what can we do as we live in VANCOUVER!

Apart from the home inspection, I have a managed a renovation project which included both exterior and interior painting, re-flooring, some re-roofing, windows replacement, kitchen cabinet renewal, furnace replacement, the electrical panel replacement and so many other things. I do gain some valuable experience from managing the project, especially for the high efficiency furnace  and electrical panel replacement by licensed trades people. I spent two days with them by offering being a free helper, you know, it is really a good experience for a home inspector.

Investment Property in Vancouver

Investment Property in Vancouver

Further to my last post, especially the feasibility of achieving the positive cash flow in investing in rental properties, here are some communications regrading this topic between me and Jonathan Huang from CIBC Bank, and I would like to share it here with his consent.

“…Based on current real estate market situation in Vancouver, if someone wanted to buy a $1 million dollar home and rent it out, the owner would have to put a specific amount of a down payment towards the purchase in order to generate a positive cashflow from the rental income.

Scott McGillvray talked about investing in rental properties that are easily rented out. From the examples he used in the seminar, it seems that a target potential for tenants would be students. The appreciation of the property value would not be the main objective for such an investment, but a positive cash flow is. As long as the property’s rental income can cover all the costs including mortgage payment (principal and interest), property tax, strata fees, etc., then it could be considered for a potential purchase.

With the growing population of the students (both international and domestic), the Lower Mainland condo or apartment real estate market offers a tremendous opportunity for investors. For example, in the New Westminster SkyTrain Station area, a two bedroom apartment is available in the price range of $260K to $300K. Such a property can potentially generate a rental income of $1,400 to $1,600 monthly.

Let’s use an example of a $280,000 apartment with a $1,500/month rental income:

20% down payment: 280000 @ 20% = $56,000

Mortgage amount: 280000 @ 80% = $224,000

A current three-year fixed rate mortgage is 2.45% (CIBC special rate, subject to change)

The monthly mortgage payment: $877.82 (principal $422.80 and interest $455.02 based on 30 year amortization)

The property taxes: ~$1,500/12 = $125.00

Strata Fee: ~$230 = $230.00

The total monthly cost would be ($877.82 + $125.00 + $230.00) = $1232.82

The net cash flow of this investment: $1,500 – $1,232.82 = + $267.18

If $5073.60 ($422.80 x 12) in principal is paid towards the mortgage, which increases the equity of the property by the same amount each year assuming the property valued remains constant, then the annual positive cash flow would effectively yield a 5.72% ($267.18×12/$56,000) return on the $56,000 down payment. This is a much better than a 5 year GIC rate of a mere 2.00%.

The above analysis is for illustrative purposes only. The ultimate decision on whether or not a person should invest in a rental property should be based on the client’s entire financial picture, including the investment objective, and any long term investments should be considered in conjunction with tax planning, retirement planning, estate planning, etc.

…  …”

 

“Thanks for your input, Jonathan.

From the example you gave, it is a $300,000 condo. If one wanted to invest in a million dollar house, then he will have to rely on the capital gain in the long run, and he won’t get positive cash flow.

… …”

 

“It is not going to achieve a positive cash flow with a million dollar property which has a 80% mortgage.  The time for a quick capital gain is gone unless there would be a chaos in the rest of the world and all the riches wanted come to Canada. 

 People can still buy very old houses and rebuild a new one, but that is a totally different ball game.

… …”

Investment Property Seminar- CIBC & Scott McGillivray

Investment Property Seminar- CIBC & Scott McGillivray

Thanks for the invitation from Jonathan Huang, I attended a seminar jointly held by CIBC and Scott McGillivray the other day. I would like to share what I learned briefly in that night.

There are four fundamental factors when investing in a property:

  • Positive cash flow, 

 

  • Market appreciation,

 

  • Principal recapture,

 

  • Renovation appreciation.

I understand the importance of positive cash flow, but in Vancouver real estate market, how much down payment you have in order to achieve that? And, is it still worthwhile to do so?

It is very hard to find “perfect” trades person in the renovation industry, what you can do is to try to minimize the risk. Here are three pieces of paperwork when dealing with a contractor.

  • Estimate
  • Scope of work
  • Change work order

Avoid “HP” (hope & pray) strategy in you house project, good luck!