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All mortgages should be NON Recourse forcing the banks to give less rope than they have been giving. No insurance to bail out the banks. This way banks will only loan 4-6X incomes resulting in buyers not being able to hang themselves with huge debt. And tax non primary residences so it is unprofitable to create and continue this system of inequity. Most people had they not bought 10 years ago they would never be able to afford today. The house of cards is being purposefully maintained, why do you think we need 2 million immigrants every year?

You are Nigerian. Right? Why don't you promote your continent? Maybe you are ignorant about Africa, according to your accent, like most westerners.

Portugal the City lol - Can’t seem to find that on the Map😂

Great video! Very informative

Good advice

Simplii or EQ bank. which is your favorite?

Best place to retire is Russia 🇷🇺 Canada is liberal garbage

I went with tangerine because there are more Scotia bank atms around. And for Simplii there is a hold on your money if you make deposits. Like if I deposit 1000$ into my account there is a 4 day hold on most of it.

What kind of card do these accounts use? Is it a prepaid credit card or debit card? Can I make mortgage payments with these?

Your content is amazing, I like Every video, you can do better on youtube. Dear I saw some problem in your channel, that's why your video is not getting views, you need to fix it, we can talk about it if you want.

*Hello sir, I was analyzing your* youtube channel Wealth Marathon and are your struggling with subscribers and video views for monetization. I can help you grow your youtube channel *Below we found your channel issue* watch time audience retantion audience engagment Thumbnail issue video title not friendly Channel Tags Video tags video seo problem keyword research not friendly channel optimization not friendly

Does it work for non-canadians?

I’m shocked you have no comments! This is a little outdated now but is very valuable information. I recently purchased a home in a relatively affordable Alberta city (not Calgary) and I am glad that prices are falling in the Vancouver and Toronto areas. People need to spread more across this great country rather than being so clustered around a few (particularly two) major metros.

You gotta own land new hi interest rate has 6300 mortgage earning 3k per month in rent brutal but you still have to buy

Yes i knew that long time Ago

🤩🥰😘

I'm glad we own our home.

Great video as always mate👌🏽

We need rent control in Canada ❤

This is Trudeaus legacy.

Hi darling! Can u make a video on different banks and benefits of each such as nova scotia, rbc and td bank. Thanks!

Can I edit your TH-cam videos?

'PromoSM'

Like many things in life, it all depends. You are going to pay for shelter one way or another. So consider the long term costs, and that isn't just financial. If you buy you still have to pay property tax, insurance and maintenance. Plus you are tied to a location. If you rent then you pay your landlord and that cost can go up and down whether you move or not. Keep in mind that if you include your house in your net worth, your monthly expenses should then factor in not owning a home when planning for retirement. I see too many people include their house in their net worth but still calculate their monthly expenses as if they owned a home. You can't have both.

Thanks for this! point 1 on rent vs buying is a good point to highlight for people to consider before acquiring a mortgage.

Great advice.

Great content

Useful. You favourite term is "basically" .

Anybody who tells you not to buy is paid by a hedge fund.

Canada is a fascist country. It looks like it is falling apart and is run by people who all studied under the WEF which is a fascist organization..( Mussolini's words not mine). I honestly sir would be very very careful. Credit is gonna dry up. Theclast time i saw canada looking this bad Trudeaus father was in office. It ended with 22% interest rates and dont for one second think its not about to happen

At the end of the day, i think Thailand is number 1. 2500 cad as monthly income will be comfortable

Mexico has changed their rules, The minimum required is not for someone at the low end of income anymore. Also Ecuador is based on the US dollar. so canadians will loose nearly 30% of the value with the canadian dollar.

As of June only 4 institutions in Canada actually have this account ready to open. RBC, Questrade, Fidelity and National Bank of Canada. Most other banks say they are working on it but don't have it fully ready yet.

I need new parents, my think if I work really hard I could buy a house.

Good video 👌🏼

I LOVE your book! Please create more educational TH-cam videos on real estate investing in canada, that’s the only way to stay relevant in this industry going forward, thanks.

Here is the thing about money: IT'S A SCAM! All the economy as a giant fraud, all currencies ALWAYS return to their intrinsic value, which is 0, and all economic systems ALWAYS collapsed, not one exception in recorded history, and before that too.

Just to bring you up to speed with rentals. A two bedroom in Vancouver that is similar to the condo listing is going to cost at least 4000 per month.

money can solve a LOT of problems

That home doesn't cost 1million ...it costs 2million or more with mortgage payments But on market will sell for 1 million.......

I did the reseach and anaylsis but I couldn't confirm the result is valid until I watched your video. I rather put my cash into other investment or even put it on my business instead of put in a 2 bed room CAD 70-80k apartment.

Would you suggest to buy home in Brampton,approx purchase price is 600k? Only would be living for 3-4 years in Canada then moving out to diff country. Btw thanks for the informative video👍

Good video!! I currently have 1 rental property, but I’m moving across Saskatchewan, and am debating renting or buying my next property for my primary residence. Thanks for the insight :)

I used to be a fan of “rent-vesting”. But I was wrong. Doesn’t account for risk that comes with having no control over my own living circumstances. Also, consider a different way to calculate costs. Rent….versus • just the interest payments (not including principle repayments) • council rates and taxes • insurance • 0.2% house cost in repairs The purchase costs (taxes, stamp duty, deposit), plus principle repaid during ownership, and sale costs are all recouped if the property goes up 3-4% in value. Not each year. But total. There is opportunity cost of not investing that principle and closing costs, but if that’s the difference between retiring early and never retiring, this means that the home is too expensive for the wage being earned.

Tax System favors home ownership over renting. Homes are more likely to have a family in it so they get more protections and tax advantages. Rentals are usually seen as having singles living in it. That’s why there’s no tax benefits and the recent Covid protections sucked compared to what homeowners got. If Rentals were known to have more families in it, renting would be financially beneficial and tax favored.

And be ready for a $25,000 roof or HVAC system.

Pay rent when you try to retire? Home ownership will always win in the end.

Absolutely true.

Here two things are missing: 1) Rental price keep going up but on the other hand your mortgage payment goes down over the period of time 2) Peace of mind of being evicted after 1 or 2 years down the line and then again you end up paying more 3) After the end of 25 years, a owner having a house for his retirement but on the other hand rental have to work even after retirement just to paid the rental income and obviously at 60 you are not able to earn like you are earning now