Quotes of the Day

In practical terms, many municipalities do not enforce the bylaw regulations relating to "illegal suites" if there is a shortage of rental accommodation in the community, or unless a neighbour complains. In most cases you have a right to appeal a decision of your municipality requesting that the tenant vacate your premises. [2006] - Douglas Gray

The key is to find a market where rents are sufficiently strong while at the same time having a low-enough purchase price. There is a sweet spot to be found in the outlying areas of most major centres. Keep in mind though that outlying areas tend to have less diversified economic bases than major cities, so while the cash flow may be greater, it may not be as stable. You would be very hard pressed to find a property with such strong cash flows in major cities, but you can still find positive cash flow. Finding great cash-flowing deals can take a bit of time. You have to do the research and be patient for the right deal, and you will need a few connections, but it can be done. Working with a world-class real estate agent makes searching and negotiating far easier. [2017] - Calum Ross

If you want to have the best team around you, you need to be the best at something as well. [2005] - Robert T. Kiyosaki

A high stock market allocation leads to higher long-term returns compared to portfolios with lower stock allocations. I’m not talking about ten-year returns. That’s short-term. Over thirty-year durations, portfolios with higher stock allocations have historically won. [2022] - Andrew Hallam

We suggest that most investors devote 10-15% of the equity side of their portfolios to REITs. If your portfolio is 50% stock and 50% bonds, we suggest that 5-7.5% of your entire portfolio be devoted to REITs. If your home represents a big chunk of your net worth, and especially if you are approaching a stage in life when you may consider downsizing, you may want to invest less in REITs than would, say, a renter of similar means. Or you may forget about Canadian REITs (VRE, XRE, ZRE) altogether and invest only in foreign REITs. [2013] - Russell Wild