CAD 200K : 1 or 2 Houses.
| Poll:CAD 200K : 1 or 2 Houses. | |||
| Choice | Stats | ||
| 200K towards one house | 17% (1) |    |
|
| 200K towards two houses | 83% (5) | |
|
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| Poll:CAD 200K : 1 or 2 Houses. | |||
| Choice | Stats | ||
| 200K towards one house | 17% (1) | |
|
| 200K towards two houses | 83% (5) | |
|
Posted on: 05-10-12 22:30:45
Quote:
Originally posted by geetakhanna
I would invest in 2 properties.... One in Canada and the other in India.... It's a win win... Can't go wrong....
And who would look after proprety in India?...cousins/parents? how often do you go there? once in a year or two years? How much is the rental income compared to amount invested? how easy/difficult to liquidate property over there? where is rupee going?
I know rate of appreciation is much higher over there..but I want to be in control of my investments..yeah if Fido would have come back and said what if I have $800K, then may be this suggestion would work.
All the points mentioned by you are variables, which will be different for each individual..... We can call these arguments, valid points or excuses....
At the end of the day, we make our own choices and our own lives.... Sometimes we succeed, sometimes we don't ..... I have seen many a brilliant people not make anything of their lives because they suffered from Paralysis by Analysis..... The most intelligent man is not the richest.... We hear of simple folks coming from Punjab becoming rich by trucking and super qualified people leading mediocre lives.... We can chart graphs and crunch numbers and quote world real estate trends.....
But, at the end there is only one measure of success... Especially wrt realty .... Market value and liquidity value of that asset.....My opinion was given from my own experience..... I do not believe my advise or suggestions or opinions are of any expertise so there is no point in my defending any of them.... But I always try my best that they are sincere and well meant..... 
My 2 cents...
1>I would deposit 50k @ 10.5% (senior citizen rate) in INR before it raises back to 48-50/CAD
2>I would buy/invest a flat with 50k (assuming family residing in 2 tier cities)
When the market cools down (guessing in the coming winter)
3>Remain $100k, would buy primary home around 500k-600k (10%down)and second home (rentable) 200-300k (assuming 20% down)
Unless, if you are full time employee and pay is above the 30% bracket, i would not think of RRSP, RESP.
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MK
If you are not confident/comfortable with the above options..
please give the $200k to bhootnath, who can get you $400k in 2 - 3 yrs with his RE investment :-)
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MK
Quote:
Originally posted by mkannuri
please give the $200k to bhootnath, who can get you $400k in 2 - 3 yrs with his RE investment :-)
Trying to give the test of my medicine to me only...? But I wish I could do that. 10% for you...
@ Geetakhanna->
Appreciate the honest input and your own experience. And yeah I came little strong with my response. In my opinion you should buy the property in India only if you are looking forward to live there or more of as an retirement house. But please if you can, can you share a little more:
1) How did you invest? Paid full in cash or took loan? from where here or India?
2) Who is currently managing the property for you?
3) How is the rental income and maintainance there?
4) Any other?
I understand to invest in property after maximize RRSP and RESP contribution but why TFSA?
How TFSA is more benificial than property investment?
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Success is Never Ending and Failure is Never Final.
