Status of our 3 houses in Canada | Managing ख़र्चे 🏠

[@ishan360]

I am a multiple property owner based in Ontario. I would suggest you better check with A lenders(top 5 banks) about using the HELOC for increased downpayment. Well you may be able to use it but this HELOC will be taken into account when banks calculate debt services ratios. Even if you don't use HELOC then also it be taken into consideration. Besides, HELOC is for emergencies purpose ideally. But you do you. But make sure to check with the A lenders. Correct me if I am wrong but this is from a personal experience.

[@naghmazulfiqar438]

Navjoat thank u for sharing Detailed info about ur houses

[@yashpancholi]

Government should ban buying more than two houses under one family, the guy is misleading everyone, this is the reason why deserving families dont get home here in Canada at affordable rates, people like him keep the house market out of reach for everyone.

[@canadianjatti]

what part is misleading? he is being factual. He is just talking numbers. What makes you more deserving and him less? We have the same opportunities. If they can do this within a short time of arriving to the country I am sure you can too!

[@seekpeace260]

There is always someone who needs to rent. If there are no landlords who they will rent from? Also, there is overall shortage of housing for number of reasons and a retail investor buying properties is at the bottom of all.

[@Potatotalkies]

👏👏

[@yashpancholi]

@@canadianjatti You totally missed the point, I already have a house here, but I have seen people who are first time house buyers are struggling to get one at reasonable rate. I would urge everyone who already has a house the same. If government cant, we should make sure our fellow residents have the equal opportunities, finding loopholes in the system and making money out of it is never going to justify whatever you say, morally. If you don’t follow, well it’s not the advice for you my friend. Keep doing whatever you can to make money out of. I would rely on my skills to make money rather finding shortcuts using real estate. Again just my point of view. Have a good day!

[@yashpancholi]

@@seekpeace260 Im not denying those facts, but at least we should do whatever is in our hands to help fellow Canadians who are looking for to buy a house for the first time, Thing about renting, you’re just trying to justify things which are not morally right, I disagree with that, if your landlord is owning multiple properties, then its even more concerning to me, government should definitely work on regulations, like they recently did for foreign investors to buy properties in Canada. Do whatever you want to man, but if you’re a youtuber and influencer, you should share your personal ways of making money with some sensibility, you’re motivating thousands of people to buy multiple houses finding loopholes in banking system, by taking line of credit? Be capable with your real skills! Come on, I don’t know where the world is leading to. Everyone is interested to defend false doing and preaching. Have a good day ahead!

[@ibrahimm2012]

Bro you should buy a house in Halifax as well . Their prices going up . Most resident can’t afford it . It’s best time for you to do another closing .

[@starlordgg]

bro..thats a wrong advice

[@anildaita]

Both of you are self employed with less than 2 years in business. Confused how bank will approve the deal. Debt servicing will be very tough right!!

[@Potatotalkies]

Simran’s income is full time - just via an incorporation. There are banks who will take that into consideration. I will complete 2 years before Kitchener precon is delivered. Calgary one is with friends, so there is more full time income there. It’s all possible :) just need to plan it well. Besides I am not opposed to B lenders. They are awesome esp when you have less than 2 years of inc

[@manisandhu5173]

We r coming to Canada on 29 September...you and your channel helped us alot.... will meet u there to buy house

[@Potatotalkies]

👏👏

[@RyanAtrocities]

We committed to pre construction property for $900k like 6months back. Now the home value is going down. Our closing is end of 2023. During the appraisal of the house, if the value is $800k for example. What are the good options we have? I am asking about how mortgages will go. We are planning to put 20% down payment.

[@Potatotalkies]

It’s best to book a call and discuss options.

[@RyanAtrocities]

@@Potatotalkies Sure, will do it. Thanks for your message.

[@AsadKhan-ii4rh]

As the time passes condo fees increases and the condo price decreases. Condo is not a good investment. I purchased a condo for 275,000 in 2015, and now its value is 200,000 according to city assessment 2022. Value of a property always does not go high, as you preached.

[@Potatotalkies]

Did you buy the house from the city?

[@AsadKhan-ii4rh]

@@Potatotalkies No, i bought brand new apartment from the builder

[@Potatotalkies]

@@AsadKhan-ii4rh city assessment is not the same as what your actual home’s worth :) city assessment is always much lower. Talk to a mortgage agent or your bank for guidance.

[@AsadKhan-ii4rh]

@@Potatotalkies Not in my city, may be +4 or 5%. I already talked to mortgage agent.

[@lokithor9472]

Ye sardaar hutiya hai

[@REVIEWSONTHERUN]

Cool! Congrats! Nice video ✌️

[@chandrakapoor7807]

*What a SHOCK seriously right ? time and money ALSO going down but tell me something everything is DOWN 👎 in CANADA including PR .. 😳😳 and you did too many investments and in video why did you NOT SHOW this house also properly !!*

[@abhi9838855705]

It feels so good hearing such nominal prices of house still in Canda ^_^ comparatively to Vancouver :( where having 800sqft would steal out $1M+

[@iamsgaurav]

I was actually thinking about this and the video came out. Getting mortgage approval, then buying a house, and then paying EMIs is 1 thing. But when you buy 2/3 houses, do you actually plan on paying installments until retirement (probably not)? - How to plan for paying off loans and "actually owning" multiple properties considering salary/earnings is not a problem? Also, bcoz people don't plan on working until 60... Now ppl have started thinking about early retirement as well

[@Potatotalkies]

You get rent that covers the mortgage The rent increases at min 3% per year. Mortgage remains the same. It will Cashflow well in a few years. It’s a simple equation :)

[@sushilverma2854]

Great sir 👍. I am your old subscriber and I am from Najafgarh, Delhi. My wife is living in Vancouver as a student and my filing process is also started, when I will come overthere I will come to meet you 🙏.

[@Potatotalkies]

👏👏👏

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@TamilMonk]

Fan of your videos. In Mississauga for now, will be moving to Cambridge/Kitchener in couple of months - see you soon neighbor.

[@Potatotalkies]

Woohooo!!! Welcome to KW!! 🥳

[@TamilMonk]

@@Potatotalkies - Thank you Nav. Excited! :)

[@SatpalSingh-ow6vj]

M coming to Toronto,, looking forward to see you as a new immigrant

[@chandershekharbhardwaj1424]

Dear PT- good very deep informative video enjoyed with you. Be blessed stay safe all of you.

[@Potatotalkies]

Thank you 😊

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@rajeshamazie]

How much is the LTV for Multi-Unit Residential Mortgage offering from Canadian banks !

[@paramjeetghai9042]

Congratulations 🌺

[@007hitslove]

Such greedy people are making real estate price too high and create scarcity of resources for actual needy one...:)

[@Potatotalkies]

I won’t want to call anyone needy :) Instead, I would want to encourage people to earn more!! Everyone has the same opportunities - “needy” and the “greedy” Kucch toh difference hoga?

[@abc0583]

yes these people are absolute greedy people

[@vinaypoddarpoddar825]

Hello Sir, Our Crs is 458, primary Noc is 0122 and over all points is 78. If not through express entry can we expect an invite from Ontario human priority stream? Note- we are in the express entry pool already

[@srmashwani]

The townhouse is like “middle of nowhere”. Empty land/hills etc. It’s a tough choice to stay this much away from city. Ppl will start moving slowly but for next few years, it will be too lonely

[@Potatotalkies]

It’s 15 mins from downtown Kitchener, 10 mins from uptown Waterloo. And 5 mins to a nearest mall with everything you need. But yeah, there is a lot of future development that’s yet to come. But that’s who you get good deals that turn well in a few years.

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@kaala-paani]

Listen up people. Navjot is a over confident and over leveraged guy. Anyone watching his videos and getting inspired to invest in real estate in Canada beware. He is literally risking a lot and if things go wrong he might end up losing a lot of money. Looking at his level of understanding of this macro environment, anyone thinking about having him as a mortgage agent Good luck following his advice!

[@rohanutep81]

Everything is virtual moh maya 😂😂

[@shrutibhadra9803]

How many times can we re-finance on same property? Thanks for sharing all the knowledge and experience you have.

[@Potatotalkies]

Thank you … Unlimited. Depends on how much it grows.

[@allitm4642]

Very happy for you Simran and Navjot!! Keep up the great work 👍🙏🏠 Navjot do you deal with mortgages in Montreal and Winnipeg too?

[@Potatotalkies]

Thank you :) Can do Winnipeg… but not Montreal.

[@canadianjatti]

With precon you can usually lock in rates for up to one year when you get your preapproval....thus interest rate increase would not impact you. Was this not the case for your yyc property?

[@Potatotalkies]

Only 1 bank does that in canada 😀 And it’s not the bank I want to place my mortgage with.

[@mannurandhawa5011]

@@Potatotalkies which bank ?

[@canadianjatti]

@@Potatotalkies ooo I don't deal with banks at all. All my business is with a credit union and my credit union does this. Mine was precon townhome.

[@seekpeace260]

Great video as always, Nav! Qq on your heloc, does it come with an expiry date if you don’t use it?

[@Potatotalkies]

Technically, 5 years till my term ends. But I can roll it over and renew till the time I keep the house.

[@JakesRandomAdventures]

The bank can also cancel the HELOC with limited to no notice anytime too.

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@sharjeelmisbah206]

can u please advice me: I have been working in power transmission and distribution in India. should i go for noc 2133 (electrical and electronics engineers) or noc 9241 ( power engineer) viz a viz prospective salary and licensing requirement

[@jaskaur2326]

Can you do a video going over what you did for the HELOC, and the best way to approach the bank to get this

[@Potatotalkies]

We already have a video on this. I will recommend to talk to a mortgage agent, book a call from the description.

[@pankajguglani1988]

congratulations 😍😍✨✨💖💖🌹🌹

[@Potatotalkies]

👏👏

[@Chandu-zh7xo]

Great move Nav, You could get HELOC because your condo mortgage is variable?

[@Potatotalkies]

Thanks.. it was cheaper to get a heloc on variable - yes… But the reason why I was able to get it is due to the appreciation.

[@dikshasingh2931]

Great video Potato Talkies!!!

[@sanketlawangare8616]

Thanks for making these awesome videos they are educational for me😄. Maybe a silly question I have but here it goes, why not put the $100k from refinancing on your condo itself?? It will bring your equity to ~20%, bring down monthly mortgage payment and probably you get some income from the rent??

[@Potatotalkies]

Putting money into the condo only reduces amortization down from 30 years - won’t reduce the payment. I would rather invest the 100K in buying another house and paying the servicing of the debt with Cashflow from that house.

[@bindaas17]

Good luck with closing . Way too much leverage with this structural market correction

[@Potatotalkies]

Thank you :) You need to compensate leverage with income.

[@bindaas17]

@@Potatotalkies Sure ya 😊 . Economic conditions are appropriate for big income growths in Canada . Savemax for life

[@SD-db5mc]

50 dollar condo fees increased per month or yearly?Also presently what is the condo fees?

[@Potatotalkies]

It’s at $540 / month after increase.

[@SD-db5mc]

@@Potatotalkies so the increase is monthly?

[@Potatotalkies]

@@SD-db5mc yes

[@aa-py7le]

Lol keeping for 10 years, you will sell them way before that. I had told you don’t be greedy and see I was correct. All your houses will end up being at your cost price.

[@Potatotalkies]

What happened? Are you ok?

[@GurinderSinghGirn]

Precise, informational and inspiring content Love it ❤️ Keep growing ⬆️

[@Potatotalkies]

👏👏👏

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@dp7414]

Kuch investment India mein kyon nahi karte as there can be bubble and crash half any time

[@arpitgupta1790]

Gems of a video as always

[@Potatotalkies]

👏👏

[@jai5628]

You have well planned the downpayment of three house but how to get qualified for mortgage for 3 houses at same time?

[@Potatotalkies]

Talk to a mortgage agent :)

[@jatindersaran5899]

Congratulations.

[@jenni431]

I know you are investing YOUR hard earned money but come to think of the moral implications of one person owning multiple homes is that real estate prices not only shoot up in that area putting normal homes out of reach of normal people. This is exactly why the world is in the situation it is now. Only a matter of time.

[@Potatotalkies]

Socialist view in a capitalist society. But I can respect that 👍

[@jenni431]

@@Potatotalkies I am just saying that 'earning more', 'investing more' can't buy us real happiness until we start thinking about other people. People lose out on the finer things in life by going for 'more'. Anyways. Good luck!!!

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@abc0583]

yes people like him making everyone trouble,i was his followers until i knows these people are slumlords and greedy peopel

[@lindadrinks-johnson1904]

@@abc0583 He just explained honestly how he was able to get 3 properties - lived below your means, saved, worked 12-18 hours daily, and I’m sure research, school, and prayer. You can do the same and stop being so JEALOUS. God will not bless you. They are very honest people willingly to help everyone with their advice to accomplish the same goals they have met. You need to be careful before you end up with a scammer taking all you money and put you in bankrupt. May God continue to bless and watch over this couple as they do their work to help others.

[@karishmakumar6635]

Hi. Did you take a fixed interest rate or variable for the condo?

[@Potatotalkies]

Variable

[@saurabhbabbar2631]

Good luck for your future closing!

[@Potatotalkies]

👏👏👏

[@dalipsingh9904]

How did you guys afford or manage three houses in Canada especially at this time brother? Some previous savings might be

[@Potatotalkies]

Nope. My doubling our incomes in the last 1 year and saving everything we could. We came to canada with $20K proof of funds.

[@rohanutep81]

@@Potatotalkiesare you able to save after spending so much money on properties?

[@KITCHENFLAVOURSwithsaba]

wah ji zabrdst beautiful collection 😍 ❤️

[@Potatotalkies]

👏👏👏

[@gurcharansingh-tk9ny]

Hi bro, need you guidance, which course will be wise to pursue after 3 years of software developer work experience, if going to study in canada 1) project management 2) information systems business analyst 3)cloud computing

[@abdulr6511]

Go only for PM when you want busy 9-5 since it is so hectic and pays definitely less than Software Development Target Area [ iOS or Android or React or Angular ] at-least 10 years should be secure. Else go for BI Developer or Data Analyst.

[@nonu417]

Quite informative video! You have literally invested the money sensibly. Hope to see Simran soon in the upcoming videos! Always a pleasure to watch your videos!!

[@Potatotalkies]

👏👏👏

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@ashishmusani7016]

While I understand your investment planning and have been following you for a long time now, I somehow don't have a good opinion about one person owning multiple houses. Looking for your response on the same.

[@Potatotalkies]

That’s a socialist discussion in a capitalist society :) I really wish that the world worked like that. Plus, if you have more money, you would either lose that to inflation or invest in assets. You would just not know what to do with the money.

[@ashishmusani7016]

@@Potatotalkies I agree. You are correct in that sense. You have to be a part of the game even if you don't want to be.

[@jasmeetsidhu6613]

How did you arrange down payments for 2nd and 3rd house? How much is your joint income now? How did you managed to increase income? Please share only if not too personal.

[@Potatotalkies]

Our incomes have doubled in the last 1 year with my mortgage business and Simran’s contract job. So short answer - we saved everything we could and kept living below our means saving $10K a month (working 16-18 hours a day for 2+ years)

[@JakesRandomAdventures]

Pop and mom money from India is the fact lol

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@rohanutep81]

@@JakesRandomAdventures😂😂

[@rohanutep81]

Yes even I was wondering with rents around $2000 how can one afford?

[@lovecanada3535]

Pura dil ki khol ke rakh diya ,koi nahi dil ki bataata,

[@vishaljain84]

There is something called opportunity cost

[@abhiverma4095]

Flipper

[@tarunnavlani]

Congratulations on owning 3 doors so far. Just a suggestion, try not to put money in condo investments. The condo maintenance fee is not generating any equity infact is helping your tenant to get free utility(water or hydro if included in condo maintenance fee). I doubt anybody who has bought condo in prime neighborhoods in and around GTA in last 5 years is making any cashflow even after doing 20% down. As per me any asset which is taking money out of your pocket is not an investment but a speculation. Regarding leveraging to invest -> It depends on ones own risk apatite but I would any day leverage no matter what is the HELOC rate, you can write off interest on HELOC and bring down effective cost of borrowing by 35-40% depending on your marginal income tax rate. Plus you can cycle money from investment income( rent paid by tenants every month) flush into primary home mortgage and readvance and borrow more to service your investments(pay for mortgage, utlities, insurance etc). Look into smith maneuver.

[@Potatotalkies]

Thank you Tarun. Fair points 👍 I bought the condo to live at 5% down ($22K). And only $400 down with a 100K HELOC on it. Still a fair deal. But i agree; it makes less sense to buy it as a investment to start with.

[@gamerstv2444]

Condos are easy to manage and hassle-free. you may need frequent visits to your property or need a property manager for single-family homes.

[@gamerstv2444]

@star light It's about the equity you own. Can be 20-100% or may be even 5%

[@gamerstv2444]

@star light I am not paying the mortgage. The renters pay. It's another income source not a liability.

[@gamerstv2444]

@star light yes it is, but the mortgage is paid from the rent collected. Not from my pocket.

[@SDVS]

How can someone not from real estate market find good pre-construction projects?

[@Potatotalkies]

Check my other channel - growwithnav Even on this channel - have made a few videos on precons

[@PoonamVerma-os9ge]

Kichner vala aap ka ghar kitny bhk hai

[@Potatotalkies]

3 bed 3.5 bath

[@ankitaahuja111]

Can we take line of credit before closing? I understand line of credit is not ideal but our money is stuck in stocks, although the market is going up, but in worse case thinkinh LOC. ]

[@rushangjoshi]

No you shouldn't. Given the fact that BOC will be raising interest rates for this year and it will stay there for atleast a year, and LOC is variable. So make a sound judgment based on the future events. Hold on to your jobs during recession because no job is fully secure even if you think so.

[@SatpalSingh-ow6vj]

Bhaji Tuc great ho….

[@movingtocalgary01]

Alberta is Calling ☎️ kzbin.info/www/bejne/eGOVqIGHn8qlsNE

[@echabbewal]

Be careful boy . You guys in delicate situation. Keep your jobs and this KZbin side Hassler you will need for next 2 years

[@Potatotalkies]

How are we in a delicate situation?

[@echabbewal]

@@Potatotalkies high interest rates (sept,oct,dec) raises and rely on rental cash flow at stagflation layoffs times is always delicate situation. But I am sure you guys will manage well. Just don't be over confident. Regards

[@rohanutep81]

@@Potatotalkiesrecession lay offs what if we don’t get clients in mortgages

[@vishaljain84]

You guys taken too many investment way too high Too risky bets Stock option would had been better option

[@Potatotalkies]

I do stocks too :)

[@alexparx1501]

Cery nice to hear all the best .. if a person without PR n only on work permit buys house in Quebec/Montreal does the foreign buyer tax applicable. If no tax in quebec Which would be better option Calgary vs Montreal in terms of investment.

[@Potatotalkies]

I am not sure about Quebec. I will recommend to check with a lawyer there. There is no foreign buyer tax in Calgary.

[@sumitkatyal2002]

Can a temporary resident buy house in Canada?

[@Potatotalkies]

Yes - but very high downpayment and foreign buyer tax in many provinces

[@preet476]

Is this home in calgary ?

[@Potatotalkies]

No, Kitchener Ontario

[@preet476]

I live in winnipeg I want to buy in calgary but now I am afraid increasing mortgage interest rate ,first I think I should sell my this home, what do you suggest me ?

[@jastin1567]

Sir, why are you changing your story? In your previous video you said you used your first property refinance money to do down payments for other properties. I enjoy your channel because you share all details and calculation. Now you are only sharing big numbers and re-assuring us that you have the money. How can a new comer afford all those down payments without taking money from parents and relatives? I hope you can be more transparent and help advise people like us with middle class background.

[@Potatotalkies]

Jastin- we are likely to make 2-3 times more money than we made last year with my business and Simran’s new job. You can do it too :) will be making a more detailed video on this closer to end of the year. Story is the same - we work incredibly hard to earn more money by improving on our skills…

[@lindadrinks-johnson1904]

Read his comment above. He’s giving advise. You’re too JEALOUS focusing on his 3 properties and where their money is coming from and if his parents gave him the money. They are hard working people. You and others do the same. God Bless😊

[@Raj1973USA]

Mr.Singh I hope u should matured with ur age. Cap, potato???? What does it signify .

[@ExperiencewithSoni]

Hey Potato Talkies ❤️ I'm going to apply for my Canada PR but have one query if you can answer and clear my doubts I have 22 months experience with my previous employer from July 2018 to April 2020 then I joined IIM Jammu and now I've started working again and want to understand how my work experience will be considered for PR?

[@Potatotalkies]

Should be fine. You need 3 years in 10 years for EE and 3 years in 5 years for PNP.

[@rightbrothers2004]

Looking forward to ur next vlog on "how to file for bankruptcy".

[@Potatotalkies]

Doosro ke liye itna kharab nahi sochte my friend. Kabhi grow nahi kr paoge life mein. :) If you don’t like us, just don’t watch the videos :) mast raho

[@rightbrothers2004]

@@Potatotalkies u guys are over leveraged. BoC has been warning for couple years about unsustainable and speculative housing market. From Feb 2022 KW realestate drop by over 25% according to CREA, and further 15% drop is forecasted for 2023.

[@Potatotalkies]

@@rightbrothers2004 we have a total loan of $1.1M across 3 houses (which are worth 1.5M now) Total Cashflow negative -$200 / month. We made over 400K a year in 2022 and spent about 6K / month with 12 months of emergency funds in the bank and other stock investments. None of this would be possible if I pulled other people down on the internet :) maybe there is something we are doing right if you had an open mind? Can’t change the way you think … but I do wish the best for you 👏

[@rightbrothers2004]

@@Potatotalkies two questions for u,. How much tax u will be paying to CRA on 400k income? And which of 5 big banks u guys getting ur mortgage from?

[@Potatotalkies]

@@rightbrothers2004 about 20% - it’s corporation income. BMO and first national

[@user-wm6zg5dn2e]

As always putting out great content by Nav! Congrats and best of luck! Would you mind sharing how did you end up saving 100K cash in a year for these down payments? Looking forward to hear from you Your videos have been a great help so far! Thank you

[@Potatotalkies]

Thank you :) We already made a video on that earlier on how we saved 100K. Do check it out. We actually saved more than that as we are earning a lot more than we spend.

[@joe0212]

Don’t understand a thing. A normal software developer

[@Potatotalkies]

Koi na 😀

[@joe0212]

@@Potatotalkies make some video for layman in English

[@kukush1071]

Like your videos 🇺🇸 cash flow talk 😆

[@ZeeMan2.0]

🍁😭😭😭😭😭🙏🙏🙏

[@bhupinderkalra5188]

Leveraging is very dangerous they can loose their shirt.

[@shariarxafar1380]

How did you make so much of money? You are not born Canadian and you have 3 houses ¡ do you pay tax which part of India do you co e from ? What profession you use to do in india ?

[@Potatotalkies]

I am a market researcher. Currently a mortgage agent. Simran is an app developer.

[@JakesRandomAdventures]

He doesn’t have 3 full houses to be honest - the guy is just using leverage to buy properties. The market is not gonna rise for another 20-24 months so these investments are risky.

[@rohanutep81]

@@JakesRandomAdventuresyes everything is virtual no one owns a home until the mortgage is paid off!! It still belongs to the bank harsh reality to digest..