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Can mortgages make you rich?

Investors I speak to these days aren’t too troubled by low interest rates or the inability to find safe, reliable income. That doesn’t mean they’ve parked their cash and let inflation erode their portfolios. Instead, they’re cashing in on the double-digit returns of Mortgage Investment Corporations, known as MICs (pronounced MIC as in Mick Jagger).[…]

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Tax profit as income or capital gains?

Recently, I chatted with a couple who, after seven years, sold their century-old row house in Toronto’s Trinity-Bellwoods neighbourhood. With grins plastered on their faces, they happily declared the best part was their sizeable profit—they sold for $300,000 more than they originally paid—was completely tax-free. This got me thinking. Every week we get questions from[…]

Top 10 mistakes when buying a new build home

When Karen Somerville and her husband Alan Greenberg showed up for the pre-delivery inspection of their brand new luxury home in Ottawa they were horrified. Electricians, drywallers, plumbers and a variety of other tradespeople were still busy constructing their home and, despite assurances from the builder, the couple seriously doubted their $443,000 new build would[…]

Secrets of the rich: Use other people’s money

Want to build a real estate empire or grow a business from scratch, but you don’t have the cash? Try a little leverage. Borrow to buy real estate It was the mid-1980s and D.G. Southen was only 24 years old when he bought his first investment — a house near the University of Western Ontario[…]