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About Lavarball

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  1. If you only cash flow 300/month when you’re essentially paying cash with no mortgage payment, it really doesn’t seem like to be a good rental investment. Most real estate deals only really make sense because you can leverage 5x with only 20% down, if you’re looking to invest lump sum, try looking at just investing in an index etf. 175k at average 7% return is already 12k a yr and that is a return that requires no work on your side and is a very liquid compared to real estate. That does not even take into account the opportunity cost for your parents for their 175k that they could u
  2. Actually I think rents in places like Winnipeg are quite expensive considering what the property actually costs. In places like Toronto you have 1800 rents while it would cost 1300 in Winnipeg. However, the same condo would be three times cheaper in price in Winnipeg. It definitely makes the rent vs buy decision more interesting and worthwhile when you can get a 200k condo easily in Winnipeg.
  3. I just cheked my e statements from scotiabank for my LOC. For some reason the interest rate shows up as 2.45% instead of 2.2%. Does anyone else see this or did I miss news about interest increase?
  4. I’m honestly not too sure about OSAP, but I remember seeing something from federal gov website saying that they will stop considering assets or income and instead will assume a baseline expected contributions for all students so it won’t discourage students from working/internships. I think this is from sometime in 2016.
  5. To be honest, I don’t see the point of insurance for the line of credit. It’s really just you’re paying to help the bank in protecting their loan. In the worst case scenario where you don’t finish school or drop out without finishing, you always have bankruptcy as an option as you probably won’t have many assets anyways. if it helps you sleep at night, you should definitely go for it though.
  6. Imma be honest. If you don't feel comfortable even using questrade to do a simple etf trade then I think you're not ready to use leverage to invest. The behavioral risk with staying disciplined would still exist with wealthsimple if you decide to withdraw during a market downturn. It does seem like a great time to borrow to invest however with the real cost of interest nearing zero so if you have a long time horizon of 10+ yrs then just leave your tfsa in an index fund and never touch it again.
  7. Why don't you choose something like questrade and investing in XEQT in 100% equity instead of wealthsimple. It'll be almost as simple and plus it'll save you quite a bit of fees.
  8. what exactly are you looking to do with buying a condo? If it is for investment purposes then buying a condo to live in is not a very good financial decision. Look up online the rent vs buy argument and the 5% rule.
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