As always, great content and ideas, dear Aditya. One question. Can one get a improvements loan after buying the house or is that possible only at the time of purchasing the house ?
Wow.. Thank you Aditya for another informative video about real estate.. this was a eye opener for me i didnt know that you could convert a garage into another unit this is very inspiring .Keep up the good work..
Nice video! May I ask, how long and how much will it cost to tear down old garage and build a unit like this behind the house assuming that there are enough space? We have 3 house in Windsor with decent size backyard
Why do you say ZERO payment when the guy said he is paying $500 from his pocket only the mortgage, plus another $400 probably property tax and at least $120 for insurance, so $1000? And who wants to put down $75 thousands, to pay all in $760,000 and to live in the upper level of a house with people in the basement, no access to the yard and 3 families sharing a double driveway? How can you raise a family like that? If you qualify for $760,000 mortgage don't you want to nice house and to raise your family in peace, without an overcrowded property?
This mindset is exactly why you will never retire without debt/struggling and this guy will be retiring early. He's not overcrowding his property because he wants to he's setting himself up for financial freedom when he is 50.
@@vs1278 1. What means financial freedom, in numbers? What kind of total net worth or passive annual income? 2. They got a mortgage of 760k, that means there family income is around 200k per year. I would say they are doing pretty well already. 3. So they would be living overcrowded, in a small apartment in the property, without proper storage space or backyard until 50 years old when they would be free, right? You realize at that age the kids are going to University and you are left alone, so what's the purpose of not enjoying your life at all for 25 years in order of making some money? 4. in 25 years this property will be paid off and let's hope it will be worth 50% more, so 1 million - does that mean they are financially free? The money is in the house, if they sell it they need to buy another house, so how do they become financially free with one crowded property?
@@notnotnownow9622 They don't need to make $200k, banks use potential rental income when purchasing a house to increase the mortgage amount. When you retire you sell and down size. That's how you are financially free because they'll have cash and a pension plus investments(they pay $500 per month for a mortgage so they can invest the rest of their money into other avenues). If you think that property will only double in 25 years I can already tell you rent or own a condo 😂. Standard inflation is 3% per year and the real estate market will always go beyond that in the long term because livable land is scarce and the population is only growing. You can either suffer a bit now and relax when you're older or go live lavishly in your 20/30s to suffer when you get older and forced to work when you're 60.
These guys come from worst living standered backhome. Living in this 1 bedroom hell for another 30 years is like living in Palace of a King. They have been living low life forever and now they gonna do the same forever. Curry People will never change.
I missed a great opportunity exactly similar in Kitchener, that's when I understand a knowledgeable Realtor is realy important, unfortunately I was working with a dum ass realtor who has no knowledge! And I missed it. Lesson learnt. 😅
Can he sell the house with that 50k appraisal as profit today? And then Is it possible to buy a similar property with that 50k profit and adding 35k from his pocket? This way he will spend less overall saving 50k.
Any questions on how to make this happen? Let me know in the comments below!
As always, great content and ideas, dear Aditya. One question. Can one get a improvements loan after buying the house or is that possible only at the time of purchasing the house ?
Very informative video Aditya . Thx for the information . Looking forward.
Glad to hear 🙏
love watching these while I go on a walk
Wow.. Thank you Aditya for another informative video about real estate.. this was a eye opener for me i didnt know that you could convert a garage into another unit this is very inspiring .Keep up the good work..
I'm glad you found it helpful! It's amazing what can be done with a bit of creativity and hard work.
Nice video ♥️♥️.
It would be very nice and interesting to do a follow up video with him after an year.
All d best 👍
That's a great idea! I'll definitely consider doing a follow-up video.
Nice video! May I ask, how long and how much will it cost to tear down old garage and build a unit like this behind the house assuming that there are enough space? We have 3 house in Windsor with decent size backyard
Why do you say ZERO payment when the guy said he is paying $500 from his pocket only the mortgage, plus another $400 probably property tax and at least $120 for insurance, so $1000?
And who wants to put down $75 thousands, to pay all in $760,000 and to live in the upper level of a house with people in the basement, no access to the yard and 3 families sharing a double driveway? How can you raise a family like that?
If you qualify for $760,000 mortgage don't you want to nice house and to raise your family in peace, without an overcrowded property?
This mindset is exactly why you will never retire without debt/struggling and this guy will be retiring early. He's not overcrowding his property because he wants to he's setting himself up for financial freedom when he is 50.
@@vs1278 1. What means financial freedom, in numbers? What kind of total net worth or passive annual income?
2. They got a mortgage of 760k, that means there family income is around 200k per year. I would say they are doing pretty well already.
3. So they would be living overcrowded, in a small apartment in the property, without proper storage space or backyard until 50 years old when they would be free, right? You realize at that age the kids are going to University and you are left alone, so what's the purpose of not enjoying your life at all for 25 years in order of making some money?
4. in 25 years this property will be paid off and let's hope it will be worth 50% more, so 1 million - does that mean they are financially free? The money is in the house, if they sell it they need to buy another house, so how do they become financially free with one crowded property?
@@notnotnownow9622 They don't need to make $200k, banks use potential rental income when purchasing a house to increase the mortgage amount. When you retire you sell and down size. That's how you are financially free because they'll have cash and a pension plus investments(they pay $500 per month for a mortgage so they can invest the rest of their money into other avenues). If you think that property will only double in 25 years I can already tell you rent or own a condo 😂. Standard inflation is 3% per year and the real estate market will always go beyond that in the long term because livable land is scarce and the population is only growing. You can either suffer a bit now and relax when you're older or go live lavishly in your 20/30s to suffer when you get older and forced to work when you're 60.
These guys come from worst living standered backhome. Living in this 1 bedroom hell for another 30 years is like living in Palace of a King.
They have been living low life forever and now they gonna do the same forever. Curry People will never change.
I missed a great opportunity exactly similar in Kitchener, that's when I understand a knowledgeable Realtor is realy important, unfortunately I was working with a dum ass realtor who has no knowledge! And I missed it. Lesson learnt. 😅
Never too late know you know 😅
How did get the toilet hooked up because that's alot of digging for connection?
Not really most of the plumbers know how to get it done not that crazy
Hi bro, we are planning move to Windsor from
Montreal. Hope you would be able to help me find a home and it would be my first home.
Hi! You can reach me at 519-279-6550 or info@winictyre.com so we can discuss further.
@ well noted bro
How can I get hold one your team never bought a home looking to invest in one.
Hi! You can reach me at 519-279-6550 or info@winictyre.com so we can discuss further.
Can he sell the house with that 50k appraisal as profit today? And then Is it possible to buy a similar property with that 50k profit and adding 35k from his pocket? This way he will spend less overall saving 50k.
Yes he can definitely make profit by selling it, but it’s wise to wait for at least and year or so so he can make much better returns
Hi Soma bro, we are planning move to Windsor from
Montreal. Hope you would be able to help me find a home and it would be my first home.
I am looking something like this
Hi! You can reach me at 519-279-6550 or info@winictyre.com so we can discuss further.
What is the interest rate on the $760k?
Under 4% because it’s high ratio mortgage
coming years appreciation will be hard.
That’s y just focus on long term buy & hold