What’s your career!

If we are getting into details here, remember I'm an old fart:
Addiction Counselor- more failures than successes
Sensory Integration Worker and Teacher- Lots of fun with Autistic kids and many successful outcomes
Psychiatric Rehabilitation Counselor- Challenging work
Dementia Activation Consultant-Very limited access
Martial Arts Instructor- Lots of fun having my students beat on me
Elbows Up Merchandise Distributor
 
Bagua said:
If we are getting into details here, remember I'm an old fart:
Addiction Counselor- more failures than successes
Sensory Integration Worker and Teacher- Lots of fun with Autistic kids and many successful outcomes
Psychiatric Rehabilitation Counselor- Challenging work
Dementia Activation Consultant-Very limited access
Martial Arts Instructor- Lots of fun having my students beat on me
Elbows Up Merchandise Distributor - lol, that made me laugh.
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3ml said:
Self employed consultant
Trader/Investor
Real estate investor and Landlord
Crypto Legend
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What do you think is going to happen to Canada's real estate market, especially condos, will it bounce back? I know a bit OT but I'd love to hear your opinion as a RE investor and landlord.
 
powerrack said:
What do you think is going to happen to Canada's real estate market, especially condos, will it bounce back? I know a bit OT but I'd love to hear your opinion as a RE investor and landlord.
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I am assuming when you mention Canada you are referring to the shithole Toronto?

Real estate operates somewhat independently. So certain places are strong while others aren't. My focus is on Alberta, Mexico and a little bit of Manitoba.

I would never buy a Condo because of the management fees. If It was down to owning a condo or renting I would opt for renting.

As far as your question, It really depends on where you are referring too, and how bad Carney is going to destroy Canada.
 
3ml said:
I am assuming when you mention Canada you are referring to the shithole Toronto?

Real estate operates somewhat independently. So certain places are strong while others aren't. My focus is on Alberta, Mexico and a little bit of Manitoba.

I would never buy a Condo because of the management fees. If It was down to owning a condo or renting I would opt for renting.

As far as your question, It really depends on where you are referring too, and how bad Carney is going to destroy Canada.
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Luckily not Toronto. I own just outside of Vancouver, condos unfortunately. They're all tenanted and I'm fortunate they've been positive cash flow or just balancing expenses, but now I look back and they don't seem to be the best investments. They did rise quickly initially but now of course with so much inventory they're just another condo.

I'll admit, I'm not an expert and I probably didn't make the best moves. I don't think I'll lose money, but I don't think the effort and time was worth it, personally.
 
powerrack said:
Luckily not Toronto. I own just outside of Vancouver, condos unfortunately. They're all tenanted and I'm fortunate they've been positive cash flow or just balancing expenses, but now I look back and they don't seem to be the best investments. They did rise quickly initially but now of course with so much inventory they're just another condo.

I'll admit, I'm not an expert and I probably didn't make the best moves. I don't think I'll lose money, but I don't think the effort and time was worth it, personally.
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Oh I see. I understand why people try investing with condos in more expensive areas because the barrier for entry is so high in such places for homes. People want to get into real estate and condos are what they can afford.

You probably will be fine given enough time. Real estate isn't exciting, it's a long game. As long as they aren't costing you anything you should be fine. Hopefully the property is atleast valued at what you pay for it.

As far as it being worth the effort and time, it may not have been the absolute best use of your capital and time, but hey you are trying and that's far more than most people do. You will gain experience which also has value.
 
3ml said:
Oh I see. I understand why people try investing with condos in more expensive areas because the barrier for entry is so high in such places for homes. People want to get into real estate and condos are what they can afford.

You probably will be fine given enough time. Real estate isn't exciting, it's a long game. As long as they aren't costing you anything you should be fine. Hopefully the property is atleast valued at what you pay for it.

As far as it being worth the effort and time, it may not have been the absolute best use of your capital and time, but hey you are trying and that's far more than most people do. You will gain experience which also has value.
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Thanks for the reply.

I've checked the recent sold prices for same size, age, etc in the areas and they are selling for about $70-$100k over my purchase prices still, so hopefully it stays stable and possibly some moderate growth soon as well. I didn't expect a ton more out of smaller condos anyways, but there is currently a fear of things going down further. I'm hoping to sell after 2027, so should be ok, hopefully.
 
3ml said:
Oh I see. I understand why people try investing with condos in more expensive areas because the barrier for entry is so high in such places for homes. People want to get into real estate and condos are what they can afford.
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I agree with your point.

Sadly I think A LOT of people can only afford Condos now. I look at all the developments going up here, and they all seem to be 5-story (buildings, but we call them condos because the units are sold/not rented), semi-detached or 3-unit per line of condos. (Condos that I would consider buying if I were down on my luck, being a little nicer. The frigging things are going for $250,000-350,000 each, which is insanity to me.

Way too many "condos" now are just past co-ops, row houses...aka 50-year-old disasters that developers are trying to cut into condos.

Coming out of college or university with loans, perhaps a car loan, how in the freeking hell is a first-time home buyer going to pay for all that without being a couple of paychecks away from a disaster until their job is paying off?

The freeking government needs to fix this. Is it right to leave people with a 15-20 year debt for a 1600-1800 sq ft unit? Worse, it's not right that children are forced to live in their parents' basement until they're like 27 in my opinion.
 
Supply chain analyst here. Thankful we have reputable companies like SolidBlock Forensics. was able to get back all my stolen money from a fake crypto investment. Can't stop saying this testimony. It saved my Life and Marriage
 
LePsyber said:
I agree with your point.

Sadly I think A LOT of people can only afford Condos now. I look at all the developments going up here, and they all seem to be 5-story (buildings, but we call them condos because the units are sold/not rented), semi-detached or 3-unit per line of condos. (Condos that I would consider buying if I were down on my luck, being a little nicer. The frigging things are going for $250,000-350,000 each, which is insanity to me.

Way too many "condos" now are just past co-ops, row houses...aka 50-year-old disasters that developers are trying to cut into condos.

Coming out of college or university with loans, perhaps a car loan, how in the freeking hell is a first-time home buyer going to pay for all that without being a couple of paychecks away from a disaster until their job is paying off?

The freeking government needs to fix this. Is it right to leave people with a 15-20 year debt for a 1600-1800 sq ft unit? Worse, it's not right that children are forced to live in their parents' basement until they're like 27 in my opinion.
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Government cannot fix it, they fucked up royally during covid and its not repairable.

The continued excessive spending and more taxation being done now is going to make it worse not better.

I guess you get what you vote for, lol. Glad I was able to build up my life during the sane times before WEF turned evil.
 
LePsyber said:
I agree with your point.

Sadly I think A LOT of people can only afford Condos now. I look at all the developments going up here, and they all seem to be 5-story (buildings, but we call them condos because the units are sold/not rented), semi-detached or 3-unit per line of condos. (Condos that I would consider buying if I were down on my luck, being a little nicer. The frigging things are going for $250,000-350,000 each, which is insanity to me.

Way too many "condos" now are just past co-ops, row houses...aka 50-year-old disasters that developers are trying to cut into condos.

Coming out of college or university with loans, perhaps a car loan, how in the freeking hell is a first-time home buyer going to pay for all that without being a couple of paychecks away from a disaster until their job is paying off?

The freeking government needs to fix this. Is it right to leave people with a 15-20 year debt for a 1600-1800 sq ft unit? Worse, it's not right that children are forced to live in their parents' basement until they're like 27 in my opinion.
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Don't forget condo fees. My colleague bought a 700 sqft "condo" in north van for $800k, and by the time she moved in the condo fee had doubled from $300 to $600 / month (which the seller apparently didn't disclose). On top of that, you might get a huge bill for some renovation that the condo board approves. Then you have the added joy of living with a bunch of rules.
I love being the king of my own castle. It's terrible how the opportunity to do so has been ripped away from young people.
 
Sorbate said:
Government cannot fix it, they fucked up royally during covid and its not repairable.

The continued excessive spending and more taxation being done now is going to make it worse not better.

I guess you get what you vote for, lol. Glad I was able to build up my life during the sane times before WEF turned evil.
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Do we call what we earned "Before wealth" and "After debt"?
 
vancitybb said:
Don't forget condo fees. My colleague bought a 700 sqft "condo" in north van for $800k, and by the time she moved in the condo fee had doubled from $300 to $600 / month (which the seller apparently didn't disclose). On top of that, you might get a huge bill for some renovation that the condo board approves. Then you have the added joy of living with a bunch of rules.
I love being the king of my own castle. It's terrible how the opportunity to do so has been ripped away from young people.
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People just accept it too because what else are they going to do? Throw down money for a 600k house when they can barely afford a 350k "condo" AND the damn fees PLUS what they call "special assessments". Getting a surprise $1000 bill doesn't seem so special to me.

My son is in a "condo". I have no need for the money, so I split his monthly mortgage with him so that he can save up. I could pay it off, but I'm a firm believer that you gotta make them respect a dollar. My grandfather (whom my mother foisted off on way more than should have, except I actually got some life learning from him, otherwise I would have just seen her coming home drunk after a party for Friday/Saturday) taught me that you always need to have a buck in your pocket. Both in the bank and physically in your pocket. You'd be surprised by the number of times I've been out with friends somewhere and the machines have gone down. Oh, the complete confusion of, "bweeelll what do we do now???" I'll tell you what you do. Carry cash in your freeking pocket because we are not a cashless society yet. Tip the waiter? Err, how if you're going to split the bill with someone else paying the tip, AND we like to keep their special wage "under the table"?
 
Sorbate said:
Sorry, I am not sure what you mean? I can be a little dense at times, lol.
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Sorry, what I said is definitely convoluted.

I meant...Do we call what we did to break the toilet of life called debt "before wealth", and being poor, vs us "after debt" and well off?

It seems to be that way now. There are two living conditions...poor or after poor. There doesn't seem to be nearly the same number of "doing pretty decent with actual savings" anymore. You can't even ask people how they're doing for fear of someone saying, "Well, I'm up 2 mortgage payments now, so if the shit hits the fan, I have 2 whole months of protection before the clock starts ticking for me to be kicked out of my house."
 
I'm in legal support, mostly doing research and helping prep for court stuff. It can be busy, but I like how things stay interesting. Paralegals Benefit Both Attorneys and Clients by saving time, cutting down costs, and getting paperwork done right the first time. I’ve been with my firm for a few years now, and even though I’m not a lawyer, I feel like I make a real difference in the process.
 
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