Broadview Table Talks: Toronto Real Estate Podcast: Recent Episodes

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Every day, we’re bombarded with housing headlines: prices are down, inventory is up, construction is slowing, and mortgage renewals are coming. But headlines rarely tell the whole story—and they shouldn’t make your real estate decisions for you.Let’s walk through a straightforward framework for building your own housing market outlook. The goal isn’t to predict the market perfectly. It’s to understand the factors that matter to your situation, test the assumptions behind the headlines, and make a decision you can live with.

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The short answer is: landlording can still make sense—but only when the property and the owner’s plan are right.A softer rental market and rising costs can make the business look less attractive in the short term. But real estate decisions should be evaluated across the full holding period, including cash flow, financing, maintenance, tenant demand, principal paydown, and long-term appreciation potential.That doesn’t mean every rental is a good investment, or that every owner should hold on. It means investors need to look past a single month’s rent or one market headline and understand how the pieces fit together.

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Finding a deal in Toronto real estate isn’t as simple as it sounds. A lot of buyers think deals are obvious… or that they’ll just show up as a low price. That’s not how it works. The best opportunities are created through strategy, understanding seller situations, and knowing where to look.In today’s market, there’s more inventory and more choice. But that doesn’t mean everything is a deal. In fact, only the best properties are still selling, and many buyers are either over-negotiating or missing opportunities entirely.So let's walk through how to actually find good deals in Toronto’s real estate market.

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Why does a home in one Toronto neighbourhood cost $2M more than another area, when it's only a 10-minutes drive away? It’s not just schools. It’s not just crime. And it’s definitely not random. Let's look at the real levers that drive neighbourhood pricing.

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If you bought a home in the last few years, especially a larger trade-up property, you might be feeling some regret. Did you buy at the wrong time? Did you overpay? Did the market drop? Should you have waited?

Let’s step away from the noise and look at this logically. Let's talk about some ideas that may give you a different perspective.

Watch this podcast on YouTube:
https://youtu.be/wgtqTf_-Pl0

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

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What year are Toronto real estate prices back to? 2020? 2018? That question sounds simple, but it leads a lot of people in the wrong direction. With so much data floating around and so few actual sales driving the numbers, it’s easy to draw the wrong conclusions from the headlines. Different parts of the market are moving very differently right now, and the answer depends far more on what you’re looking at than most people realize.

Watch this podcast on YouTube:
https://youtu.be/QzvKcadcu6k

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

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I thought bidding wars were supposed to be over? I guess not.

We just listed a starter home in #Leslieville, an urban community just outside #downtowntoronto, expecting a normal negotiation. Instead, we ended up with a frenzy that drove the price to 120% of asking.

We priced it at fair market value. So why did the buyers go crazy?

Watch this offer night recap to find out why this specific home sparked a bidding war, and whether this is a signal that the #Toronto market is heating up again—or if it's a trap.

Watch this podcast on YouTube:
https://youtu.be/LeWc0Jv1_Sc

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

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Toronto real estate feels uncomfortable right now. Prices have softened, headlines are pessimistic, and a lot of people are questioning whether owning real estate here still makes sense at all. Some are calling this the end of the housing boom. Others think the system is broken beyond repair.

But I don’t see it that way.

I want to walk you through how I’m actually thinking about the Toronto housing market today. Not from a textbook perspective, and not based on short-term predictions, but from lived experience, market cycles, and long-term fundamentals.

Watch this podcast on YouTube:
https://youtu.be/QzvKcadcu6k

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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Toronto is now almost a 50/50 city. About half of households own their home, and half rent. Yet the housing conversation is still stuck on the same question: should you rent or should you buy?

That’s the wrong debate.

The real question is what you’re working toward long term. Renting and owning are just tools. Either path can work if you’re intentional. My framework is simple, the destination is financial independence, where housing no longer dictates your lifestyle or choices.

Watch this podcast on YouTube: https://youtu.be/GNnRkn21dOI

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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Real estate in Toronto feels rough right now.

Prices are down, interest rates are high, headlines are loud, and a lot of people feel stuck.

Buyers are asking: What if prices fall more?

Sellers are wondering: Why isn’t my place moving?

Owners are facing mortgage renewals, life changes, or carrying costs that just don’t work anymore.

Real questions people are dealing with right now:

• Is it a mistake to buy if prices could drop further?

• When does renting still make sense, and when does it stop?

• How much negotiating power do buyers really have?

• Why some condos simply won’t sell at today’s prices

• What mortgage renewals are about to do to a lot of households

• Where opportunities actually exist for long-term buyers and investors

It's not about creating hype or mongering fear. It’s about understanding your situation, your timeline, and your options in a market that feels uncertain.

Real estate moves in cycles. The hard part is making the right decisions, especially when things feel uncomfortable.

If you’re thinking about buying, selling, holding, or doing nothing at all, this video will help you frame the decision more clearly.

Watch this podcast on YouTube: https://youtu.be/1TvTQ5oxrN4

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+podcast@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Many of the units that Toronto pre-construction buyers bought are now worth less than the purchase price. Appraisals are coming in low, lenders are tightening up, and the gap between contract value and today's market value is often times bigger than the deposit that they put down.

So what to you do if you find yourself in this position? Risk getting sued by failing to close, borrow with private lenders at predatory rates, or close and slowly (or quickly) bleed out? Claim bankruptcy? Crawl under a rock?

Let's talk about some of the real options in front of you. Not theory. Not wishful thinking. Actual steps people in Toronto are using to get through closing without destroying their credit, losing their deposit, or facing years of litigation.

Watch this podcast on YouTube: https://youtu.be/1TvTQ5oxrN4

Remember, this is not legal advice, consult your lawyer if you need one. But to schedule a 15-minute appointment to chat with me, click here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Listings are sitting longer, open houses feel quiet, and the headlines make it sound like the market still has room to fall. That uncertainty is exactly why my clients asked me this question, and why the answer isn’t as simple as “yes” or “no.” So let's go through a real conversation I had with some recent clients.

If you’re trying to make sense of whether waiting helps or hurts you in this kind of market, this will give you a clearer way to think about timing, leverage, and what really matters.

Watch this podcast on YouTube:
https://youtu.be/UsEXTpoluNo

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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After ten rate hikes and two years of high borrowing costs, the Bank of Canada has finally started cutting. For the first time in years, interest rates are “in a good place.” But if money’s cheaper, why isn’t the housing market roaring back to life?

What do the latest rate cuts actually mean for buyers and sellers? How long will it take for monetary policy to show up in home prices? And what are the four wildcards that could change everything?

From shifting immigration targets to global uncertainty and a sticky inflation rate, the story isn’t as simple as “rates down, prices up.” This is a look at the real forces shaping the next phase of Canada’s housing market, and to look for indicators for when things will finally start to move.

Watch this podcast on YouTube:
https://youtu.be/we04t8R1zEY

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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"What's a good school zone" is a question I am often asked. But the truth is, buying a home based on school rankings is more of an art than a science. Most rankings, like those from the Fraser Institute, are based on EQAO test scores, which is a narrow and often outdated measure that doesn’t reflect the full picture of a school’s quality. What actually drives school reputation often has more to do with the surrounding neighbourhood’s affluence than the education itself.

In this video, I break down what you really need to know: how catchment boundaries work, what programs and opportunities are available beyond rankings, and why schools can’t be fairly compared with a single number. If you’re buying a home for your family and want to make a smart, informed decision, this is a conversation worth listening to.

Watch this podcast on YouTube:
https://youtu.be/we04t8R1zEY

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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When a tenant moves out, every landlord faces the same question: should you renovate, or keep it simple?

Let's talk about the Golden Rule of Multi-Family Investing, how to decide if a renovation actually makes sense after tenant turnover. We’ll cover:

• Turnover is your chance to reset rent, but how much should you budget?

• The rule of thumb for renovation ROI

• Smart upgrades that attract better tenants and boost building value

This isn’t about flipping a kitchen for HGTV, it’s about making strategic choices that protect your cash flow and grow your property’s worth.

If you’re a multi-family investor in Toronto (attention all you CMHC MLI Select borrowers) with multiple units in the same building, this is my framework for making that "go" or "no go" renovation decision.

Watch this podcast on YouTube:
https://youtu.be/c0VrRCgLI5E

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Mortgage delinquencies in Canada are making headlines, with reports saying they’re “up 30%.” But what does that really mean?

Defaults have risen, but that’s still below Canada’s historical “normal” range. Even during the 1980s peak, it wasn't that bad. By comparison, the U.S. sits much higher.

The truth? The rise looks dramatic in percentages, but the actual risk level is still very low. Context matters more than the headline.

Stay informed, not alarmed.

Watch this podcast on YouTube:
https://youtu.be/IgB2HrLgxlI

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Imagine you’re playing Monopoly, and one player already owns most of the houses. Every time someone else lands, they have to pay more and more rent. Even if you save your money and play smart, it’s really hard to catch up when someone else already owns everything.

That’s what’s happening in real life too: homes and apartments are being bought up by people who already have lots of money. Regular people are working hard, but the game feels stacked against them.

Is this just a Toronto thing? Or have other major cities been able to crack the code?

Watch this podcast on YouTube:
https://youtu.be/vWB52EEHi-Y

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

2. Send a direct message on my Instagram account below; or

3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1

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Condos may have dropped more percentage-wise, but detached and semi-detached homes have fallen much more in real dollars. That means if you’re upsizing, the price gap has narrowed, and this less-than-stellar market might actually work in your favour.

So, let's talk about why now could be the smartest time to trade up, and how to use market conditions to your advantage. If you’ve outgrown your space, this market shift could be working in your favour.

Watch this podcast on YouTube:
https://youtu.be/vydnINB1zq4

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Feel like you’ll be renting forever? That’s honestly okay. Owning real estate isn’t the only path to stability. But if you’re not buying, you’ll need a solid plan — because the system is still built around homeowners. The truth is, renting can offer flexibility — but it doesn’t build equity by default. And if you’re not intentional, you might wake up 10 or 20 years from now priced out of more than just housing.

You don’t need to buy a home to build wealth. But you do need to be proactive, strategic, and prepared.

Watch this podcast on YouTube:
https://youtu.be/ZUzEdpjkGxE

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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A new national survey from Royal LePage shows that 31% of Canadian renters have no plans to ever buy a home—a statistic that challenges long-held assumptions about homeownership in this country.

We’ll look at what’s driving this shift: affordability barriers, changing lifestyles, and why many renters feel completely priced out. More importantly, we’ll explore what this means for Toronto’s housing market — from long-term rental demand to how investors and first-time buyers should be thinking about the next cycle.

If you’re navigating affordability challenges or trying to understand where demand is headed, this one’s worth watching.

Sources: Royal LePage 2025 Canadian Renters Report, Financial Post (June 2025)

Watch this podcast on YouTube:
https://youtu.be/ZUzEdpjkGxE

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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Renting is the norm in cities like New York, Berlin, and Toronto — but staying a renter forever could mean missing your window to build real wealth. Let’s talk about how smart buyers are breaking in, even with high prices and limited savings.

Some are co-owning multi-units with friends or family. Others are turning basements into income suites or living in laneway homes behind their parents’ place. Many are starting small — with a condo, a less central location, or even a duplex outside the core. The first home doesn’t have to be forever. It just has to get you started.

Watch this podcast on YouTube:
https://youtu.be/PYF6JJ4Lqc4

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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The Toronto condo market is shifting fast—and not in a good way for small landlords. With sky-high interest rates, poor rental yields, and construction costs that don’t pencil out, the old condo ownership model is breaking down.

Condos were once a slam-dunk investment, but now it seems like purpose-built rentals are taking over. So let’s explore what this means for real estate investors, end users, and future buyers.

Whether you’re holding, selling, or just watching from the sidelines, let’s talk about what’s coming next.

Watch this podcast on YouTube:
https://youtu.be/uYAegma99zY

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you own real estate in Toronto — or anywhere in Canada — you’ve probably had it with all the negative headlines. Falling condo prices, sluggish sales, rising interest rates… it’s all you ever hear.

But here’s the one thing no one’s saying: there’s still a positive case to be made for property owners — if you understand the bigger picture.

In this video, I'll talk about:
- Why this downturn isn’t the end of the world
- The “6 Ds” that still drive real estate activity
- How long-term fundamentals still support property ownership
- Why selling now could mean locking in a loss
- What to consider if you’re stuck in negative cash flow

Whether you’re a homeowner, investor, or someone stuck with a pre-construction condo deal — this video will help you make sense of the chaos and stay grounded.

Schedule a 15-minute appointment to chat with me here:
https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-download

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If you want to chat with us, do the following:

1. Send an email at ken+youtube@broadviewavenue.ca; or

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3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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There’s no sugar-coating it—the Toronto market’s been rough.

April 2025 numbers from TRREB show sales down 23.3% year-over-year and the average price dipping 4.1%. That’s a tough headline. But here’s the part people are missing: behind the negative press, there’s a lot of good news—if you know where to look.

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appoin... Download our guides here: How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family... The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-... ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhom... Instagram: / kennethyimhomes TikTok: / kennethyimhomes LinkedIn: / kennethyimhomes Facebook: / broadviewavenue Web: http://www.broadviewavenue.ca

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Remember how Monopoly ends—with one person owning everything? That’s exactly what’s happening in our economy and real estate market today. If you don’t own assets, you’re getting left behind. In this episode of Broadview Table Talks, I break down: • Why housing affordability keeps getting worse • The true effects of inflation and money printing • How asset owners keep winning (and what you can do about it) • Why young people and first-time buyers are being shut out • What new policies like the proposed Canadian 1031 exchange and prefab housing could mean for our future Whether you’re a frustrated renter, a cautious investor, or just trying to make sense of Toronto’s housing crisis—this video’s for you. Let’s talk solutions. Don’t just shake your fist—take action. Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appoin... Download our guides here: How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family... The Toronto Professional's Guide to Real Estate Investing: https://www.broadviewavenue.ca/guide-... ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhom... Instagram: / kennethyimhomes TikTok: / kennethyimhomes LinkedIn: / kennethyimhomes Facebook: / broadviewavenue Web: http://www.broadviewavenue.ca

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Here are the top 3 lessons I wish I knew when I first started investing in real estate 20 years ago.

After two decades in the market, I’ve seen it all—rising prices, market crashes, bad tenants, and great deals. But the biggest lessons I’ve learned could save you thousands and help you make smarter investment decisions.

Of course, I've learned a lot more than just 3 lessons, so if you want to chat more about your journey, let's chat for a quick 15-minute zoom call by clicking here:

https://www.broadviewavenue.ca/appointments

📌 In this video, I’ll cover:

✔️ Why cash flow is king (and why speculation can be risky)

✔️ How leverage can work for or against you

✔️ Why cheap properties aren’t always the best deals

If you’re thinking about investing in real estate or scaling your portfolio, these insights will help you avoid costly mistakes and invest with confidence.

What’s the biggest lesson YOU’VE learned in real estate investing?

Watch this video on YouTube: https://youtu.be/f0R6Lv6qF-s

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download
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Everywhere you look, headlines scream that Toronto’s condo market is crashing. Interest rates are high, condo prices are dropping, and investors are caught in the middle. But what’s really going on behind the scenes?

In this video, we explore how banks and government intervention are shaping the Toronto real estate market, why condos are no longer an easy investment, and what this means if you’re caught in the middle.

We’ll cover:

✅ Why condos aren’t selling
✅ How banks are bending the rules to keep the market afloat
✅ Why the government can’t afford to let the market crash
✅ How immigration policy affects housing affordability
✅ What’s next for Toronto’s real estate market

Join me at Broadview Table Talks, where we unpack Toronto’s complicated real estate dynamics with straightforward talk and practical advice.

Watch this video on YouTube: https://youtu.be/f0R6Lv6qF-s

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download
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1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Thinking of backing out of a real estate deal? Whether it’s a pre-construction condo, a resale home, or a commercial property, walking away from a legally binding contract can have serious consequences. In this video, I break down the legal, financial, and strategic options you have if you’re struggling to close.

• What happens to your deposit?

• Can you be sued for more than your deposit?

• What if market values have dropped?

• Can you assign or negotiate your way out?

Watch until the end for real-life case studies and practical solutions. If you’re in this situation and need advice, book a free 15-minute call using the link below.

Like & Subscribe for more real estate insights!

Timestamps:

00:00 – Intro: Can You Back Out of a Real Estate Deal?

00:48 – Common Scenarios Where Buyers Default

02:08 – Why It's Happening So Much Nowa

03:10 – The Ramifications Of Walking Away

04:15 – What Actually Happens If You Don't Close?

06:36 – Alternative Solutions

07:27 – Why You Can’t Advertise Pre-Construction Assignments on MLS

08:58 – Real-Life Cases: Buyers Losing Big for Backing Out

11:09 – Common Reasons Why Buyers Need to Back Out

11:51 – Can You back Out If You Discover Issues After Waiving Conditions?

13:28 – Backing Out Of A Pre-construction Condo Deal

14:20 – What If the Seller Won’t Let You Out?

15:36 – Final Thoughts & Next Steps

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download
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If you want to chat with us, do the following:

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Are houses finally becoming affordable in Toronto? With interest rates expected to drop and condo inventory surging, buyers have more options than ever. But is it the right time to jump into the market, or should you wait?

In this episode of Broadview Table Talks, we break down the latest trends in Toronto real estate, including:

• Interest rate predictions and their impact on home prices

• Why trade-up buyers are dominating the market right now

• The looming condo supply surge in 2025 and its effects on pricing

• How government policies and economic shifts may influence the market

• Alternative homeownership options, including laneway and garden suites

We also discuss whether the long-term fundamentals of the Toronto market remain strong and why waiting for a massive crash might not be realistic.

🔔 Subscribe for more real estate insights!

👍 Like this video? Let us know in the comments!

Timestamps:

0:00 – Intro and preamble

0:38 – Are houses actually becoming affordable now?

1:51 – Market stats: Sales volume, inventory surge, and buyer sentiment

2:52 – The impact of Trump tariffs on the Canadian economy

5:38 – Inflation, monetary policy, and housing price stability

6:44 – Why long-term homebuyers should ignore short-term market fluctuations

7:37 – Difference between investors and end users in today’s market

9:25 – The risks of renting vs. the stability of homeownership

10:02 – Inflation and why housing prices will likely continue to rise

10:32 – Is now a good time to buy or invest?

12:35 – Why trade-up buyers are dominating the market right now

13:53 – What’s happening with the condo market?

14:32 – Why a 50% price drop is unrealistic and market crashes are unlikely

17:11 – Will condo prices keep dropping in 2025?

18:34 – The upcoming supply shortage by 2027 and beyond

19:44 – Alternative homeownership options: Garden suites and laneway housing

21:40 – Closing remarks: Long-term real estate as a stable investment

Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help: https://www.broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download
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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Investing in condos just isn’t cutting it anymore in 2025. Rental incomes don't align with the monthly cost. In this video, we reveal the ultimate strategy that’s turning heads in the investment world: 4+1 multiplexes.

Join me on-site with developer Jayden Haywood from River Developments, as we visit one of his active projects nearing completion—a 4-unit multiplex in the main house with 1 laneway suite. We will break down everything you need to know about this new game-changing approach. We'll walk investors through the project from start to finish on multiplex projects.

We’ll cover:

✔️ Why 4+1 multiplexes outperform condos as investments in Toronto
✔️ How the new EHON policies with MLI Select financing make this the best time to invest
✔️ The full process: from lot selection to construction, financing, and exit strategies
✔️ Why energy efficiency isn’t just a trend—it’s a necessity for future-proofing your investments

If you’re ready to pivot to a real estate strategy that actually works in today’s market, this is the video for you.

👉 Watch now to learn how to make your Toronto real estate investments great again!

Visit River Developments at:
IG : https://www.instagram.com/riverdevelopments/
X : https://x.com/RiverDevTO
FB: https://www.facebook.com/share/1CfRDuMgeE/ Web: https://www.riverdevelopments.com/
YouTube: https://www.youtube.com/channel/UCnY49JgcaA0QP7RdtmdCydQ
Course: https://course.riverdevelopments.com/

Watch this podcast on YouTube:
https://youtu.be/5jlRtupG2Hs

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Discover how the new CMHC policy changes, including the increased borrowing limit to $1.5M, will impact Toronto’s real estate market. We discuss affordability, rental demand trends, and predictions for the market’s future, including a potential boom by 2027. Stay ahead of the curve with insights into high mortgage rates, immigration policies, and housing supply challenges.

Watch this podcast on YouTube:
https://youtu.be/2ZtuOZ--VY8

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
Instagram: https://www.instagram.com/kennethyimhomes
TikTok: https://www.tiktok.com/@kennethyimhomes
LinkedIn: https://www.linkedin.com/in/kennethyimhomes
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Web: http://www.broadviewavenue.ca

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Donald Trump sounds great for business people and investors, but maybe that only holds true in America. How is it going to affect Canada, and specifically the housing market here?

Watch this podcast on YouTube:
https://youtu.be/NmDinGgKtaM?si=Jb8gufPzBRs6fWLr

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help:
https://broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download

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I guess it's happened to others before. And I realize that I should not have given as much information to the scammer as I did, but of course that's easy to see in hindsight.

Here's the thread: https://www.reddit.com/r/PersonalFinanceCanada/comments/18dzrty/td_bank_suspicious_call_did_i_get_scammed/

Anyway, beware of scammers out there. Whether it's online banking, tenant fraud, or anything worse.

Watch this podcast on YouTube:
https://youtu.be/XoLhovYGREw

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

Download our guides here:

How to Ask Your Parents For Help:
https://broadviewavenue.ca/family-support-for-fthb

The Toronto Professional's Guide to Real Estate Investing:
https://www.broadviewavenue.ca/guide-download

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How can young adults approach their parents for down payment assistance in Toronto’s challenging real estate market? Mikayla Thompson shares her experience saving while living with her parents. We talk about strategies like co-signing and contributing to down payments, the importance of planning, and the benefits of homeownership over renting.

Click here for your downloadable guide to help with approaching parents for financial support in buying a first home: https://broadviewavenue.ca/family-support-for-fthb

Reach out to Mikayla at: https://www.instagram.com/mikaylathompson.ca

Watch this podcast on YouTube:
https://youtu.be/l6QNpE7J8tA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you’re not ready to reach out and just want to follow for more, find us online:

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With the dropping mortgage rates and new CMHC rules, is now the right time to buy or sell? Join us we get into the latest stats for September 2024 and break down what this all means to potential home buyers and sellers.

Watch this podcast on YouTube:
https://youtu.be/-lQc17sNojo?si=z4CFeG9CVuo6BIcz

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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🚨 GTA Market Update: September 2024 🚨Home sales are on the rise! With interest rates easing and new mortgage guidelines in place, buyers are taking advantage of more affordable options. Now’s the time to act—whether you're a first-time buyer or looking to upgrade. 🏡💼📊 8.5% increase in home sales year-over-year🏠 18,089 new listings💰 Average price: $1.1M, offering more negotiation power for buyers!Don’t miss your chance to secure your future investment!📲 DM to discuss your next move.#TorontoRealEstate #GTAMarketUpdate #HomeOwnership #FirstTimeHomeBuyer #TorontoHomes #RealEstateTips #InvestmentProperty

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Wouldn’t it be ideal to earn huge returns in real estate with minimal money down? During the golden days of the past two decades, when interest rates were cheap, that was possible. You could buy almost any asset—not just real estate—and watch it soar, thanks to real negative interest rates (where borrowing costs were lower than inflation). However, those easy money days are over.

In today’s market, going all-in beats limping in when buying real estate. Join us as we explore why a solid deposit, despite the new CMHC mortgage insurance rules, is more crucial than ever for your property investment success.

Watch this podcast on YouTube:
https://youtu.be/NmA8HDFMNU4

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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The tenant screening process is crucial in avoiding future problems. Join me as I chat with Weiting Bollu of Openroom.ca, to discuss her platform that helps small landlords and great tenants navigate the rental market more effectively, contributing to a more connected and transparent ecosystem. Open Room allows users to search for tribunal decisions related to tenants or landlords, providing timely and crowdsourced data that might not be available through other sources like CanLii.

You must make this a critical part of your tenant/landlord screening (and reporting)! Visit www.openroom.ca.

Watch this podcast on YouTube:
https://youtu.be/NmA8HDFMNU4

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Why have prices only seen a modest decline in the Greater Toronto Area, despite soaring inventory and sluggish sales? What happens to condos when they get really old? Will they crumble and be insolvent? What happens if I can't close on my preconstruction purchase? Should I sell first or buy first?

Let's analyze the latest data on price changes, sales volume, and inventory levels from August 2024, and how the recent rate cuts by the Bank of Canada and rising unemployment impact the housing market.

Don't mind all the jump cuts in this video, there was a lot of "umms" and "ahhs" -- I was tired when filming this.

Q&A
0:32 Why are home prices stable despite high inventory?
2:55 Should I buy a 40 year old condo?
5:20 I can’t close on my pre-construction purchase!
12:20 Sell first or buy first?

Watch this podcast on YouTube:
https://youtu.be/4-_SfNhcCtg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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The burning question on everyone’s mind: When will real estate prices in Toronto finally drop? With interest rates at restrictive levels, an economy teetering on recession, and growing concerns about a potential real estate crash, we analyze the current state of the Toronto housing market.

Let’s walk through the critical factors influencing the market right now. We’ll examine key metrics like the sales-to-new-listings ratio, months of inventory, and the impact of rising interest rates. Whether you’re a seasoned investor, a first-time buyer, or simply curious about the market, this episode offers valuable insights that could help you navigate these turbulent times.

Watch this podcast on YouTube:
https://youtu.be/wWV0F72vsFg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Join us as we explore the vibrant and diverse neighbourhoods of Toronto. With over 150 unique areas, Toronto offers something for everyone, whether you're an investor, a new resident, or looking for the perfect place to raise your family.

In this episode, we dive into:

The historic charm of the Distillery District and St. Lawrence with their stunning architecture and bustling community events.

The upscale experience and allure of Yorkville, from high-end shops and gourmet restaurants to cozy cafes.

The family-friendly vibe of Dundas West, known for its diverse cultural experiences and tight-knit community.

The perfect blend of family living and access to trendy areas like Queen West and King West in Roncesvalles.

The artsy neighbourhood of Leslieville that's rapidly developing with new shops and exciting events.

The value and convenience of Scarborough, particularly Birch Cliff and Scarborough Town Centre, with their great amenities and diverse food options.

Toronto is a city like no other, with each neighbourhood offering its own unique charm and appeal. Whether you love historic districts, upscale shopping, family-friendly communities, or vibrant cultural scenes, there's a place for you here.

Don't forget to like, subscribe, and leave your comments below about your favourite Toronto neighbourhoods. Join us next week for more insightful discussions on Broadview Table Talks!

Watch this podcast on YouTube:
https://youtu.be/3-GEDUU9EdE

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Are you worried about the state of your home equity in today's unpredictable real estate market? With landlords exiting the condo market, a high number of new listings, and shifting buyer demand, it's crucial to stay informed. Check out this episode to arm yourself with the knowledge you need to make the best real estate decisions.

Watch this podcast on YouTube:
https://youtu.be/3-GEDUU9EdE

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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The Toronto real estate market has nearly ground to a halt. The challenges of selling in a sluggish market will likely lead to future implications of a potential housing crisis.

So let’s talk about the stagnant condo market and its impact on overall sales, the hurdles faced by first-time homebuyers and trade-up buyers, the shift from investors to end-users and what it means for the market, future predictions on housing supply and demand, and practical advice for navigating today's market conditions.

Watch this podcast on YouTube:
https://youtu.be/MYEhckMl37g

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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The Toronto real estate market has nearly ground to a halt. The challenges of selling in a sluggish market will likely lead to future implications of a potential housing crisis.

So let’s talk about the stagnant condo market and its impact on overall sales, the hurdles faced by first-time homebuyers and trade-up buyers, the shift from investors to end-users and what it means for the market, future predictions on housing supply and demand, and practical advice for navigating today's market conditions.

Watch this podcast on YouTube:
https://youtu.be/MYEhckMl37g

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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When you have an already densely populated city like Toronto, creating more housing is not an easy thing to do. Constant population growth in Canada (increasing at 3% per year) has caused Toronto, the largest city, to be in an extreme housing crisis. This problem has been brewing steadily for the past two decades already, and likely won't be fixed even if we gave it two more decades to solve it.

One of the ways the city has responded to the housing affordability crisis is by introducing the Expanding Housing Options in Neighbourhoods (EHON) program by intensifying existing land. First was the laneway suite, and then came the garden suite. Now we are allowed multiplexes and eliminated single-family zoning, and recently, rooming houses are now allowed. I wanted to talk about the latest evolution, the city allowing small apartment buildings on major streets in Toronto.

I couldn't find a better person to talk to than Craig Race, one of the first people to bring laneway suites to reality in Toronto. Join us as we go through the cost benefits of each of these different housing typologies, noting the financial and regulatory challenges involved.

Watch this podcast on YouTube:
https://youtu.be/MYEhckMl37g

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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There are people out there that hate real estate investors. They hate that we horde supply and profit off something that should be a fundamental basic human need.

I recently received a call from a frustrated individual accusing me of pumping up the market and contributing to the commoditization of homes. So join me as I share my perspective on the heated debate of real estate as an investment, the current market dynamics, and the challenges faced by both investors and tenants.

Whether you're a real estate enthusiast or a skeptic, this discussion offers valuable insights into the complexities of the housing market. Don't forget to like, subscribe, and leave your feedback—your thoughts help shape future content!

And to the caller that reached out, thank you for that discussion. Would love to have a live discussion and debate with you!

Watch this podcast on YouTube:
https://youtu.be/uvMeM52x6cA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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A massive surge of new listings came on to the Toronto real estate market, yet sales are still flat. Why?

Let's explore the latest trends and statistics from April. We discuss the implications of the upcoming interest rate announcement in June, the impact of employment rates on real estate, and the challenges faced by both buyers and sellers in this uncertain market.

We will analyze the sales-to-new-listings ratio, compare current market conditions to historical trends, and provide insights into potential opportunities for buyers and investors. We also highlight some unique investment properties and discuss the state of the rental market in Toronto. Whether you're a seasoned investor, a first-time homebuyer, or simply interested in real estate, this episode offers valuable information to help you navigate the market.

Watch this podcast on YouTube:
https://youtu.be/uvMeM52x6cA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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There are lots of complexities in Toronto's real estate market. Let’s discuss the latest trends, market statistics, and strategies for both buyers and sellers. From rising mortgage rates to the increasing inventory that signals a buyer's market, find out how to navigate these challenges and make informed decisions in today's economic landscape.

Watch this podcast on YouTube:
https://youtu.be/RsuAmgOExyE

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
Instagram: https://www.instagram.com/kennethyimhomes
TikTok: https://www.tiktok.com/@kennethyimhomes
LinkedIn: https://www.linkedin.com/in/kennethyimhomes
Facebook: https://www.facebook.com/BroadviewAvenue
Web: http://www.broadviewavenue.ca

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Here’s my take on the new capital gains inclusion rates in the 2024 Canadian federal budget. As much as I want to talk about the politics of it all, I will hold back. There’s no sense complaining about it, because that will change nothing.

Rather, let’s look at how it will impact your real estate strategy, and what you can do about it.

Watch this podcast on YouTube:
https://youtu.be/WMZPiqyzW4g

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Watch this podcast on YouTube:
https://youtu.be/C6zFAzWvuEU

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Stuck with a condo nearing completion and worried about the market? You're not alone. Let's break down your options: close or assign?

As we navigate these uncertain times, many are finding their pre-purchased condos aren't appraising at expected values. With the market down, you're faced with two choices.

First, you could assign your property, selling your agreement to another buyer before closing. It might seem like an easy out, but with assignments stalling in the current market, finding a buyer willing to take over at a big profit is tough.

Alternatively, you could close on the property, taking on monthly losses due to negative cash flow. This is a gamble, betting on the market's eventual recovery. Remember, closing means committing to years of potential financial strain unless the market swings back.

The root of this dilemma? A market boom driven by low interest rates during the pandemic, leading to high purchase prices now misaligned with current values. Whatever path you choose, it's a decision weighed heavily by the market's unpredictable nature.

Struggling to decide or need more insights? Book a call below and let’s chat.

Watch this podcast on YouTube:
https://youtu.be/C6zFAzWvuEU

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Condos are great, but their value largely depends on market trends, which we've seen can fluctuate drastically. If rates go up, then suddenly your investment's worth drops 15-20%. With commercial real estate, you have more control. By increasing the property's net income through rent adjustments or renovations, you directly impact its value, no matter the market situation. Let me walk you through an example of a property that you can increase the value by 1.5x almost instantly, just by doing some minor tweaks to increase the net operating income. If you want to check out the property in the example, visit: https://www.broadviewavenue.ca/listings/for-sale-253-broadview

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Listen to the whole podcast and learn how the latest economic trends, including Bank of Canada's interest rate adjustments and the impact of price stability on inflation, are shaping investment opportunities. Learn how buyer attitudes are affected by economic trends and how limited new construction predicts future market changes.

Watch this episode on YouTube:
https://youtu.be/e1_fyPdDrLc

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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Last year alone, over 20,000 new condo units hit the GTA market, the highest in three years, thanks to a surge in pre-construction purchases back in 2018. But when COVID hit, construction faced massive delays, pushing back completion dates. Now, these units are flooding the market, looking for tenants.

Despite a federal cap on student visas aiming to slow growth, immigration remains strong, keeping demand up. Yet, with this sudden influx of condos, landlords face tough competition, nudging rental prices down.

This dip might seem like a win for renters now, but it's a temporary shift. With nearly 27,000 more units expected in 2024, the rental landscape will continue to evolve. But don't be fooled; the underlying growth in population and a slowdown in new constructions due to high interest rates suggest that this is just a short-term trend. In the long run, expect the market to bounce back, making it a landlord's game once again.

Stay ahead of the real estate market. Follow us for more insights in the GTA housing market.

Watch this episode on YouTube:
https://youtu.be/nNaNmTZQpXc

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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Taking a closer look at Final Offer, an innovative app designed to transform real estate selling by allowing owners to set their own terms and prices. This tool could significantly streamline the transaction process, offering a new level of control and efficiency. What's the potential impact on the real estate market?

Watch this episode on YouTube:
https://youtu.be/CHP8vIaV4eI

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Today's talk about Toronto's real estate market focuses on government policies, speculation taxes, foreign buyer bans, and the financial impact of hosting large sporting events like FIFA.

Watch this episode on YouTube:
https://youtu.be/9PeoMmv8OT4

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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Explore Toronto's real estate market through expert discussions on pricing, bidding wars, ethical practices, and selling strategies. This video offers insights for sellers, buyers, and investors, providing the knowledge needed for informed decision-making in a competitive landscape.

Watch this episode on YouTube:
https://youtu.be/_bYe5SiYGXc

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Toronto's Best vs. Worst Neighbourhoods.

The team discusses insights into where to invest, live, and avoid. Explore the factors that shape each area's liveability, safety, and accessibility, empowering you to make informed decisions about Toronto's dynamic real estate market. Of course, none of this is fact, it's our own opinions.

Watch this episode on YouTube:
https://youtu.be/quju2N-uJ_Y

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Are you dreaming of buying a home in Toronto? It's time for a reality check. With home prices starting to soar, the dream of homeownership is slipping away for the average Torontonian.

In this eye-opening video, we dive deep into the harsh truths of Toronto's real estate market. From the staggering down payment to the salary requirements to service a mortgage, we uncover what it truly takes to secure a piece of this city. Plus, we'll explore the shift towards purpose-built rentals and the impact of new construction costs. Whether you're a first-time buyer, a seasoned investor, or simply curious about the market, this video is your guide to understanding the complexities of buying a home in Toronto today.

Watch this episode on YouTube:
https://youtu.be/rDLjbUTdKis

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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Is it still worth it living in Canada?

In this episode, we're not just skimming the surface. We delve into practical strategies for listing properties, emphasizing why listing early in the week, especially on Mondays, could be your game-changer in this evolving market. We also bring to light real-life examples of properties selling at list price after lengthy market periods, indicating a significant shift in buyer behaviour. Furthermore, our conversation extends beyond mere sales, touching on broader economic factors like interest rates, property tax hikes, and how these elements intertwine to shape the future of real estate. Whether you're a seasoned agent, a new entrant in the industry, or a potential buyer/seller, this episode is packed with valuable insights and trends that you can't afford to miss!

Watch this episode on YouTube:
https://youtu.be/9FmYWmuMK1A

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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Let's talk about the pressing issue of housing affordability in bustling cities like Toronto and creating ways to getting affordable housing.

We were recently inspired by the real-life story of a couple who creatively addressed this challenge by constructing a 1350 sq ft laneway house in the beaches. This video offers a comprehensive look into the realm of affordable housing strategies. We examine the 'rule of seven in investments' in the context of real estate, discuss the emerging trends in prefab and modular homes, and consider alternative living options such as houseboats and van life.

The podcast also provides an insightful analysis of how economic elements like interest rates and immigration patterns influence the real estate market.

Watch this episode on YouTube:
https://youtu.be/8Te3ExOYSwY

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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With a landscape of explosive population growth and soaring real estate prices, we explore the stark realities and tough trade-offs that come with seeking solutions to Canada's housing dilemma. From environmental concerns to infrastructure constraints, there are many challenges to this complex problem.

But it's not all doom and gloom! Let’s debate a range of innovative strategies and potential solutions, from tiny homes and modular housing to government incentives and infrastructure development. This conversation is an essential listen for anyone interested in the future of Canadian real estate, offering insights, anecdotes, and thoughtful discussions on the path forward. Whether you're a homeowner, renter, investor, or just concerned about the community, this episode promises to enlighten and provoke thought on what lies ahead for housing in Canada. Tune in and be part of the conversation as we search for answers to one of the most challenging questions of our time: how do we solve Canada's housing crisis?

Watch this episode on YouTube:
https://youtu.be/_RYIuRJ8hag

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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We're going to The Well!It's our first experience there (after completion). Ken and Michael walk through a condo for sale, as well as the retail area. We're excited for the 70,000 sq ft food hall (got a sneak peak for that, but it's not in this video), and it looks awesome! It's going to be pet-friendly too.We didn't showcase the office area, and the building amenities, but we can imagine that they are equally as amazing!

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Are you constantly on the lookout for the next great deal in real estate? Have you been considering power of sales as a golden opportunity to snag a property at a bargain price?

Well it’s not as easy as it seems. There are hard truths and difficult realities when it comes to actually working with these properties. Listen to the whole podcast where we provide you with a comprehensive understanding of what these deals really entail.

Click onto the video or audio to learn the following topics:

The True Nature of Power of Sales

The Potential Pitfalls

Financial Implications

Strategic Buying Tips

And Our Real-Life Examples

Now look! Our aim is not to dissuade you from buying power of sales opportunities. The goal is to arm you with the knowledge needed to navigate them effectively. So whether you’re looking to buy your first home, a seasoned investor, or you’re just curious about the Toronto real estate market, then this video will provide valuable insights that can help steer your decisions in the right direction.

After you’re done watching, join us in the conversation by commenting below!

Watch this episode on YouTube:
https://youtu.be/FtVBStV10PU

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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It's a terrible time to be buying or selling real estate in the Greater Toronto Area.

In October 2023, we had 4,646 sales, which is THE WORST number of October sales since 1999, even accounting for the population growth and all the new homes being built. For context, the peak number of sales in the GTA was 15,623 in March 2021. In the 28-year history that we have recorded for TRREB MLS sales, we are 32% below the average of 6,806 homes sold.

But still, there's still 4,646 transactions that happened (9,292 people transacting because there's two ends to every deal, a buyer and a seller).

So who are the six profiles transacting in real estate right now?

Watch this podcast on YouTube:
https://youtu.be/-LGgLM0hlbs

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

Subscribe now to keep updated for more information. If you want to chat with us, do the following:

Send an email at ken+podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:
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LinkedIn: https://www.linkedin.com/in/kennethyimhomes
Facebook: https://www.facebook.com/BroadviewAvenue
Web: http://www.broadviewavenue.ca

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We turn our focus to the decreasing rent prices in Toronto. We're unraveling the complexities behind this trend, examining the economic fluctuations, and their impact on both tenants and landlords. We also look at Toronto's current position and future market projections.

Should you be worried as a landlord? What should you do next as a tenant? Will everything be okay at the end of the day? Let’s talk about it! Participate with us by commenting below and we’ll do our best to reply with our thoughts and opinions.

Watch this episode on YouTube:
https://youtu.be/QqcJHBz9Tjs

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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There are a lot of office vacancies with the work-from-home generation, and we can't build residential properties fast enough. So wouldn't it make sense to convert under-utilized office towers to residential usage?

Municipalities would want it because remote work brings office vacancies, which leads a never-ending cycle of reduced property-tax revenue for cities, fewer amenities as nearby businesses struggle to stay afloat, and more people fleeing downtown areas.

Meanwhile demand for residential properties is far too strong, causing a huge run up in prices. Just look at the average rental rate.

If the basic economic laws of supply and demand are in still in play, then wouldn't it be logical to repurpose empty office towers into residential condos or rental apartments?

Watch this episode on YouTube:
https://youtu.be/vvKZ1LWb5DA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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It's easy to say too bad, that's the consequence of being a landlord. But what if you are caught in this situation?

Mortgage interest costs have risen at the fastest pace in history, but the rental income isn't rising nearly fast enough to cover the payments. So what do you do if your tenant gave you their notice to move out, and renting it out again will put you in a horrible negative cash flow scenario? Do you take this opportunity to sell, when prices have declined by 15-20% or more, or do you continue to rent it out to a new tenant?

Let's talk about how we can navigate through this.

Watch this episode on YouTube:
https://youtu.be/ND9zUhyxfTA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Why is there a new landlord tax in Canada? It's not so much the tax, it's the convoluted method of filing for this. Who is "affected" vs "excluded", and what are the "exemptions"? Once you understand this new tax, the terminology will all make sense, but really, why?

Yes it's the new 2022 UHT (Underused Housing Tax). The filing deadline already got extended once from April 30, 2023 to October 31, 2023, so up until then everyone was in panic mode trying to file on time to not get these SIGNIFICANT penalties (minimum fine of $10,000 for late filing for corporations). ON THE DAY of the extended filing deadline, they extended it another 6 months to April 30, 2024.

Watch this episode on YouTube:
https://youtu.be/8ugdmW2OpKs

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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With an eye on recent trends and future forecasts, we address a crucial question: Is 2024 poised to be the opportune year for investing in commercial assets?

Key Discussion Points:

Interest Rates vs. Commercial Asset Prices: Explore our analysis of how, despite the uptick in interest rates, commercial property prices have not seen a corresponding significant drop.

Market Correction Predictions: Understand the potential implications if the high interest rates persist, including the likelihood of a market correction leading to reduced seller price expectations.

2024 Investment Outlook: Learn why 2024 is being marked by experts as a potentially favorable time for investing in commercial properties.

Thank you TJ for joining us today!

Watch this episode on YouTube:
https://youtu.be/Tpg9amGowvg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Tune in an insightful Discussion with Kaleigh Kelly, Director of Sales at Graywood Developments.

Explore the intricacies of their current projects and the strategic benefits of investment. More importantly, how to get started with Real Estate investing!

Thank you Kaleigh for joining us today. You can follow her Instagram below: https://www.instagram.com/kaleighkelly/

Watch this episode on YouTube:
https://youtu.be/qKJPLZXHLf4

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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We've sourced the most debated real estate questions from the internet, such as:

• The pros and cons of RENT CONTROLS
• HOUSING SUPPLY in a market crash
• The current state of housing as an INVESTMENT
• And MORE!

Arm yourself with sharp insights and expert perspectives on the Internet's most pressing topics on the real estate market. This episode is for investors, first-time buyers, and real estate deal hunters.

Watch this podcast on YouTube:
https://youtu.be/iYQx8ChIsro

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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some of the top real estate brokerage brands. The issue is that the current system is anti-competitive, to sellers that want to sell without having to be forced to pay a buyer's agent's commission.

This made big headlines over the past year in the States, and it looks like it's coming here. Will it change the way we do business here?

Watch this podcast on YouTube:
https://youtu.be/w0B2MuFgwr4

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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The last time that the Bank of Canada paused their rate hikes in Spring 2023, the real estate market went bananas. Now that we are at or are near the terminal rate, what do you think will happen in the Fall 2023 GTA real estate market?

This isn’t going to be a market prediction discussion, but Ken and Michael do dive into the various factors contributing to all the uncertainty in the market. Listen in on our discussion and let us know of your thoughts.

Watch this podcast on YouTube:
https://youtu.be/Egs5-lJGbdg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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There's a new project coming to the Durham Region in Ontario, Canada. It's a mixed-use development, in Pickering's city core. This is the best affordable project in the Greater Toronto Area, with one bedroom condos starting in the $500's, at $1,050 per square foot.

Normally I would say don't just buy based on what's cheap, but I'm excited about this project because of the value that you get buying into a master-planned community, all created by one developer. Imagine a new city plopped on top of a thriving mall, with 6,000 units anchored by a 180-store mall, with 300,000 sq ft of office space, community centre, a hotel, and parks. All this density will create new employment opportunities, with entertainment for residents not only in the new towers, but in the overall Durham Region itself.

Getting to Downtown Toronto is also easy, with a 6-stop GO Train ride that will bring you to Union Station in 40 minutes. It's also right off the Highway 401, and will be a part of a new bus network.

Join us as we do a deep dive into the Pickering City Centre development, and discuss whether or not it is a good buy.

If you're interested in learning more about this project and how it compares with other opportunities in Toronto, give us a call.

Watch this podcast on YouTube:
https://youtu.be/Lzv5gVBLKVI

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Toronto has a huge supply and demand issue in the housing market. With the need for strong immigration and with the lack of housing starts, this is going to get even worse in the future. The fundamentals make sense in the long run, but does it make sense to invest in real estate now with the fastest run up in interest rates in history? Is now the time to buy the dip, or are we going to see more pain coming?

There’s also the struggle for affordability in Toronto. Can the city sustain these massive budget deficits? Will they raise our taxes?

Watch this podcast on YouTube:
https://youtu.be/EFh9PUrn8mY

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Blind bidding, a longstanding practice in Toronto's real estate market, may finally be coming to an end with the new Trust In Real Estate Services Act (TRESA) legislation.

A few years ago, the Canadian government announced plans to reform the housing market, including a proposed ban on blind bidding. This controversial practice, where potential buyers submit offers on a property without knowledge of competing bids, has long been criticized for driving up prices and suppressing transparency.

With this potential change, buyers in Toronto may finally see a shift towards a more equitable and transparent real estate market. While it remains uncertain when these reforms will come into effect, the possibility of bidding wars becoming a thing of the past brings hope for a fairer and more accessible housing market in the city. At least, for buyers.

Could this be the start of a new way of doing business in Ontario?

Watch this podcast on YouTube:
https://youtu.be/pudZzmtyhyA

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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The soaring real estate prices in Canada have created a stark reality where a decent income alone is no longer sufficient to afford a home. The increasing cost of homeownership has far outpaced wage growth, making it incredibly challenging for middle-class families to enter the housing market. Factors such as low housing supply, population growth, and speculative investment have contributed to the current landscape. Moreover, the stringent mortgage stress test and rising interest rates further exacerbate the struggle for prospective homebuyers. As a result, the dream of owning a home is slipping out of reach for many Canadians, creating an urgent need for policies and solutions that address affordable housing and income inequality in our country.

So, where do we go from here?

Watch this podcast on YouTube:
https://youtu.be/Bfa0A_Va0XY

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Passive homes have gained significant recognition in recent years for their innovative and sustainable design principles. These houses are not just another architectural trend, but rather a response to the pressing need for energy-efficient and eco-friendly living spaces. With an emphasis on reducing energy consumption, passive houses have become a beacon of hope for mitigating the environmental impact of residential buildings.

The concept behind passive houses is simple yet revolutionary - to create homes that require minimal heating or cooling systems. By implementing a well-thought-out combination of insulation, solar energy utilization, and efficient ventilation, passive houses are able to maintain a comfortable indoor climate year-round without excessive reliance on fossil fuels.

One key feature of passive houses is their air-tightness, achieved through the use of continuous insulation and high-performance windows and doors. This not only prevents heat loss in cold weather but also keeps the interior cool during hot summer months. The carefully sealed structure ensures that external elements, such as drafts and pollutants, are kept at bay, resulting in a healthier and more comfortable living environment.

Another essential element of passive houses is their strategic use of solar energy. Large south-facing windows and properly positioned shading devices allow for optimal solar gain during winter months, while preventing overheating in the summer. Additionally, the inclusion of solar panels on the roof contributes to a considerable reduction in energy consumption, as passive houses generate a significant portion of their own electricity.

One of the most fascinating aspects of passive houses is their reliance on natural ventilation systems. By incorporating heat recovery ventilation (HRV), which continuously exchanges stale indoor air for fresh outside air, these homes maintain a constant supply of clean and filtered air. The HRV system also transfers heat from the outgoing air to the incoming air, further reducing the need for additional heating or cooling.

Apart from their impressive energy efficiency, passive houses offer numerous benefits to their occupants. The superior insulation and air-tightness result in a remarkably quiet living environment by minimizing external noise penetration. Additionally, these homes prioritize the use of non-toxic materials, ensuring improved indoor air quality and reducing the risk of allergies and respiratory issues.

While the concept of passive houses has gained significant traction, there are still challenges to overcome. The cost of constructing a passive house can be higher in comparison to traditional homes due to the specialized materials and systems required for their construction. However, it's important to consider the long-term benefits of lower energy bills and reduced environmental impact that these houses offer.

Reach out to us if you want to come check it out in person!

Watch this podcast on YouTube:
https://youtu.be/yFxWoS-dF0c

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you exclude major streets (that don’t have land use designations), approximately 75% of the land in Toronto only permits a single family home to be developed on it. The other 20% are open spaces and employment zones (where people can work), leaving only 5% to be able to develop in to more denser uses. Furthermore, the re-zoning process is complicated, and takes several years and is an expensive process. So if you are faced with the choice to intensify land, you’d naturally want to swing for the fences, namely, large apartment buildings and condos.

This is where the “Missing Middle” term came from. It’s a range of housing types between single family homes to apartment buildings that have gone missing from large cities.

As of May 10, 2023, The City of Toronto has adopted an amendment to the zoning by-law and official plan to allow multiplexes citywide, thereby eliminating single-family zoning. You can now create up to 4 units on all lots with residential zoning, plus a garden or lane suite.

Will this be enough to solve the housing crisis? What’s the cost to do so, and what does the process look like? Are there any objections from the community? Find out more in this episode featuring Craig Rice of Lanescape.ca.

Find Craig here:
Multiplexes: info@craigrace.com
Laneway or Garden Suites: info@lanescape.ca

Watch this podcast on YouTube:
https://youtu.be/j2H0QbhL4lg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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The numbers in Toronto real estate don’t seem to make sense any more. With the rising cost of home ownership, despite record growth in rental rates, the ROI is not there if you’re only looking at the yield. So what’s better, putting your money in a low risk high-interest savings account or GIC and getting 5% on your money? Or is investing in GTA real estate still the tried and true method of investing?

Watch this podcast on YouTube: https://youtu.be/qWV2RxxmRXg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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In May 2023, the number of sales has nearly tripled since the beginning of this year in January, and up by almost 25% year-over-year. Yet the average price is slightly down by -1.2% from this time last year. Are we in a seller's market, or still in a buyer's market?

Also, let's talk about ways you can kick out your tenants to sell your property. It's a question I often get from our clients and from agents in our office.

Watch this podcast on YouTube: https://youtu.be/o7xFArKwjj8

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Only 18% of newly purchased resale properties are cash flow positive, and around half of new construction closings that were purchased 4-5+ years ago coming online now are cash flow positive. As you may know, cash flow is oxygen. Unless you can supply oxygen from other means to keep this thing alive, or maybe you don’t need oxygen at all (25% of new condo closings don’t have mortgages), becoming a landlord is a losing proposition.

Is it even financially viable to invest in Toronto real estate any more?

Watch this podcast on YouTube: https://youtu.be/rHI9u82GuGI

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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There are a lot of mixed signals in the housing market right now. Prices are on the rebound since the beginning of this year. New listings are at an all-time low. Will we have more inventory in Toronto? What if we get another rate hike, will the real estate market collapse?

Watch this podcast on YouTube: https://youtu.be/nWKL0cRpvzo

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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There are a lot of mixed signals in the housing market right now. Prices are on the rebound since the beginning of this year. New listings are at an all-time low. Will we have more inventory in Toronto? What if we get another rate hike, will the real estate market collapse?

Watch this podcast on YouTube: https://youtu.be/nWKL0cRpvzo

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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As you are building out your real estate investment portfolio, which would you pick? A larger unit, or a smaller unit to invest in?

In this episode, Michael Ng and Kenneth Yim discuss the trade-off between larger units and smaller units to invest in. We talk about what gives the best return on investment, which one is easier to rent out, and which size is easier to sell.

Watch this podcast on YouTube: https://youtu.be/xqUDgFy6sZk

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

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What are the causes, consequences, and potential solutions to this ever-increasing rent in the Greater Toronto Area?

Condo and apartment research firm Urbanation just announced that purpose-built rentals have hit a new record, surpassing an average rental price of $3,002 per month in Q1-2023. So what does this mean for landlords, if the tenant population cannot afford to live here any more? What can we do to mitigate this risk?

Watch this podcast on YouTube:
https://youtu.be/MHNKcLM0x2c

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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My new friend Derek Wu talks about the huge move from Montreal to Toronto, in search of better job opportunities but at the cost of more affordable housing and not as much entertainment options. We also discuss all the cool new technology from a resident’s perspective, and how it’s made his life easier.

Watch this podcast on YouTube:
https://youtu.be/104l9Z1tCDc

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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Looking to invest in Toronto real estate? There are lots of deals to be hand in today's assignment market, from people that purchased a few years back and now can't close (or don't want to) because of the high interest rate environment that we are in. Let's talk about the pros and cons of buying an assignment in Toronto, or if you're thinking about flipping a property you bought and haven't closed on yet, let's talk about that too.

Watch this podcast on YouTube: https://youtu.be/00djzR7Om_U

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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King Street West is a trendy neighbourhood located in the heart of downtown Toronto. Here are some reasons why you might want to consider moving to King Street West…

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By 2030 Toronto is estimated to have a population of 8 million people, on its way to 10 million by 2045. Toronto will be one of the most diverse megacities if Ontario government projections are correct. In this video podcast, we'll discuss the 6 factors that could shape the Toronto real estate market over the next decade.

Where do you think we are headed? Do you think the density will bring us to ruins or will we become an even more thriving metropolis?

Watch this podcast on YouTube: https://youtu.be/x4BvG490-RY

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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If you're considering purchasing a property or coming up with creative strategies to get your listings sold, you may be considering a vendor take-back mortgage. VTB’s are a type of financing structure where the seller provides a loan to the buyer. Let's take a closer look at the advantages and disadvantages of this financing option.

Vendor take-back mortgages can be a good option for some buyers, especially those who may have difficulty qualifying for a traditional mortgage. However, it's important to weigh the pros and cons carefully before making a decision. If you're considering a vendor take-back mortgage, be sure to do your due diligence, negotiate the terms carefully, and have a clear contract that outlines the terms of the loan.

Watch this podcast on YouTube: https://www.youtube.com/watch?v=NRXymHZmwXw

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Let's ignore all the negative headlines in the news AND the overly positive ones too, and let's just get into the facts. Let me give you my take on what I see in the first quarter of 2023 for the GTA Real Estate Market, and how it performed for the month of February, with an increase of 5.5% month-over-month in terms of the average price and over one and a half times the previous month's sales volume.

Let's also look at the shortage of new listings, resulting in bidding wars. Are they here to stay?

Be sure to follow the podcast feed on Apple or Spotify Podcasts for new episodes each week – we’ll be discussing a range of topics with experts such as current market trends, strategies for financing and refinancing, purchasing, and selling real estate.

Watch this podcast on YouTube:
https://youtube.com/watch?v=ePv7BAPoxqY

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Web: http://www.broadviewavenue.ca

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In this podcast, we sit down with Andrew Dryer of Outline Financial to discuss the current state of the economy and how it's impacting the Canadian real estate and mortgage industries. We dive into the differences between the Canadian and US economies, the recent rate increases, and the impact of bond yields on fixed rate mortgages. Our guest also explains how Outline Financial sets itself apart by working as a team to help clients with difficult deals and staying up-to-date on industry developments. Tune in to gain valuable insights into the Canadian mortgage market and the broader economic landscape. Be sure to follow the podcast feed on Apple or Spotify Podcasts for new episodes each week – we’ll be discussing a range of topics with experts such as current market trends, strategies for financing and refinancing, purchasing, and selling real estate.

Watch this podcast on YouTube:
https://youtu.be/sLNgn5zxvpw

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Home ownership rates are declining in Canada. In Ontario, they fell -3.1% to 68.4% over the past decade, yet in Toronto, the percentage of renter households were up by +25.1%. To add to it, housing supply is shrinking with a pause on new development demand and supply. Home ownership affordability is at an all-time high, household debt ratios are through the roof.

So where do you think are we going to house all these newcomers?

Watch this podcast on YouTube:
https://youtu.be/ZXekvfIRDKk

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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You are cordially invited to join us for a night of bowling fun at Playtime Bowling on April 15th at 6:00PM. This event is organized to bring our friends and family together for an exciting evening of games and laughter.Playtime Bowling is a popular destination for bowlers of all skill levels, and we are sure you will have a great time. Whether you are a seasoned pro or a beginner, there is something for everyone at Playtime Bowling.We will be providing food and drinks for all our guests, so come hungry and thirsty. There will be plenty of snacks and beverages to keep you energized throughout the night.So, dust off your bowling shoes and get ready for a night of fun and excitement. We can't wait to see you there!Please RSVP by April 1st to let us know if you will be able to attend.

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Join our seasoned professionals to go over the current economic outlook for Toronto's housing market and what roadblocks you may encounter. We are going over common concerns and strategies to ensure that you are still successful in this wild market. Plenty of time for Q&A at the end.Location: Online Zoom WebinarDate: Tuesday, February 28th, 2023Time: 5:30PM to 6:30 PM ESTCost: Free

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What are some opportunities in today’s real estate and mortgage market? Ryan Dennahower and I explore who is qualifying for mortgages, how to get approved, and what the process is. We talk about how people are dealing with the high carrying costs in today's high interest rate environment.

Reach out to Ryan Dennahower at:
ryan@bmtgg.ca
https://www.instagram.com/rythemortgageguy
https://linktr.ee/RyanBMTGG

For context, I called him "the boss" because he was wearing a Hugo Boss shirt.

Watch this podcast on YouTube:
https://youtu.be/U07HO-QznFA

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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You may have seen in the news recently how the Toronto homeowners have had their homes sold without the home owner’s consent. Whether it’s identity theft, mortgage fraud, or organized crime, real estate fraud has been given the spotlight in the media. You may be wondering, how can this happen? More importantly, how can you protect yourself? How are these fraudsters getting away with it?

Join industry veteran Mitch Korman, principal lawyer from Korman and Company as we discuss how to protect yourself from real estate fraud.

Watch this podcast in video:
https://youtu.be/fSUrfUtWNI4

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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The number of home sales in December is down by -48.2% year-over-year, new listings coming to the market are at an all time low of -21.3%, and the average selling price is down by -9.2% overall.

OFSI is contemplating new lending rules, and they have not touched the stress test. Inflation is running wild. Interest rates are high. Unemployment is low now, but what happens if we have a hard landing?

The Bank of Canada overnight lending rate is now 4.5%, with a +0.25% rate increase. How will this impact the housing market?

Watch this podcast in video:
https://youtu.be/t5gyfPjRZH4

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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Web: http://www.broadviewavenue.ca

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British Columbia is the first Canadian province to require a three-day cooling period for buyers. This means that after a purchaser has signed an agreement buy a home, they can back out of a residential resale deal within 3 business days.

What does this mean for the industry? Do you think this is fair for sellers? Will it affect housing affordability?

Here’s the official FAQ for the new legislation:
https://www.bcfsa.ca/public-resources/real-estate/consumer-resources/home-buyer-rescission-period-consumer-guide

Watch this podcast in video:
https://youtu.be/qcPbIM64Cm4

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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Toronto recently proposed legislation that will allow (licensed) rooming houses and come in to effect as soon as March 2024. They would all have to undergo annual inspections by staff from Toronto Fire Services and Municipal Licensing and Standards to ensure safety.

What are the impacts of this, and could this make a difference for housing affordability?

Watch this podcast in video:
https://youtu.be/AipM0lVAisU

Schedule a 15-minute Zoom call with Ken:
https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

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Bear with me while I walk through an example of what I love more, stocks vs real estate.

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Bear with me while I walk through an example of what I love more, stocks vs real estate.

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Bear with me while I walk through an example of what I love more, stocks vs real estate.

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Most people that think they have lost their chance to build wealth in real estate, but there is still a chance to win in this market. You just have to get a little more creative.

Does it have to be one house, one family anymore? Will sellers buy down mortgage rates? Developers putting in second dwelling units? How about seniors with lots of equity in their homes? Tenants in non-rent controlled buildings?

There's so much creativity given our current landscape. It's no wonder why Glenn calls it a crisis and an opportunity at the same time.

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:

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I got invited to speak on a round table on CBC The National, our national public broadcasting station. It was such an honour to be there representing the landlord’s perspective.

It’s such a polarizing issue, they had to cut it down to 11 minutes but we could have gone on for hours. We did actually, off camera.

So here we are, discussing the very same topic with the team. It’s an honest conversation from both sides of the spectrum, as we have renters, owners, landlords, and combinations of the mix at this table. We are becoming a renter nation, and a handful of landlords are having to bear the rising cost of housing. Tenants on the other hand, find that landlords are taking advantage of their situations, gouging them for the right to live. These are the extreme views of course, so let’s discuss.

If you’re watching this on YouTube, let us know what you think in the comments. If you’re listening to this on audio, we would love to hear your feedback somehow. Get in touch with us, and let’s talk.

Here’s the CBC video:
https://youtu.be/nPbwACK3KyQ

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Book an appointment for a 15-minute video chat using the link on our website.

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Everybody goes and says, “I built equity in my house. I bought this house". A year later, it's worth $400,000 more. Sure. So you ask them or her, “what did you do to the house?" What have you done to the house to make it worth $400,000 more?”

Who put that? Who put that money inside that house? The government, obviously the government, through quantitative easing. It's diluting money, making it worth less great inflation. Sure. And inflation. That house belongs to the government. That equity belongs to the government. If they want to take that money back, they're taking it back right now.

As we are in an environment where interest rates are rising the quickest in history, times are getting tougher economically for everyone and it's top of mind. What can we do in this scenario?

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

Send an email at podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

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Toronto is a rapidly growing city. We are seeing approximately 100,000 new immigrants to the city every single year, yet we are limited by the lake and the greenbelt. So what's the impact of all this intensification that's happening around us?

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If you want to chat with us, do the following:

Send an email at podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

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Doug Ford just recently announced his plan for more housing. We need 1.5 million houses in Ontario in the next decade. And traditionally that's 150,000 units per year. In 2021, we've delivered 100,000 housing completions, but that’s an all-time high. We’ve typically only built around 40,000 to 60,000 units per year. So we need to be super aggressive on building these homes. Today, we are going to be talking about how to convert single family homes to triplexes, and why you should.

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information. If you want to chat with us, do the following:

Send an email at podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

Book an appointment for a 15-minute video chat using the link on our website.

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Let’s talk about the current state of the market, and try to answer the big question: are we near the bottom of the market?

I’ve been in the real estate business and in the real estate market as an owner for almost two decades. I've seen a lot of ups and downs, and I want to share with you my thoughts on whether or not we're near the bottom. So let’s talk though it.

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information. If you want to chat with us, do the following:

Send an email at podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online:
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The real estate brokerage business is changing. The pandemic has forced people to adopt the progression of the internet, and more realtors are helping their clients buy and sell homes without ever having to step into a real estate office. Some other brokerages have actually closed their physical offices and moved to a purely online presence. Is this the future of the brokerage industry? Or will there always be a place for in-person brokerages?

Join Michael Ng and Kenneth Yim as we sit with Donny Mangos from our Keller Williams office and discuss our approach. Donny and Ken are also real estate investors, we touch on some tips that we’ve learned along the way.

Follow Donny on Instagram at https://www.instagram.com/teammangos.

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information. If you want to chat with us, do the following:

Send an email at podcast@broadviewavenue.ca; or

Send a direct message on my Instagram account below; or

Book an appointment for a 15-minute video chat using the link on our website.

If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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As a single parent in an expensive city, often the dream of home ownership is out of reach. But with careful planning and some creative strategies, it IS possible! In this video, I sit with Michelle Fairburn and her daughters Kamaia and Amoi to discuss the sacrifices they had to make to get on the home ownership train. We also talk about investing with other people's money, how to make it big in real estate investing, and how she involves her kids in this whole journey. It's an impressive story.

Michelle Fairburn: https://www.tiktok.com/@michellefairburn
Kamaia Fairburn: https://www.tiktok.com/@kanyesest and find her on IMDB: https://www.imdb.com/name/nm6785305/
Amoi Fairburn: https://www.tiktok.com/@amoifairburn_

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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There are four main ways to make money in real estate. In this episode, Kenneth Yim and Michael Ng discuss each one of them and some basic principles on how you can get started.

Schedule your call now to discuss more.
https://www.broadviewavenue.ca/appointments

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Podcast 13: How We're Making Toronto Landlords Successful With Thriving Property Management

If you're a Toronto landlord, you need to make sure your property is being managed well. That's where we come in - we're experts in property management and we can help make sure your investment is successful.

We have a team of dedicated professionals who will take care of everything for you, from finding tenants to collecting rent and maintaining the property. The worst thing you can do is to own a rental property and don't take care of it or not communicate with your tenants.

We're a Toronto-based property management company that helps landlords thrive. Our approach is simple: we take care of everything for you, from finding tenants to handling repairs, so you can sit back and relax knowing your investment is in good hands.

Schedule your call now to learn more. https://calendly.com/broadviewavenue/

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Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1 Instagram: https://www.instagram.com/kennethyimhomes TikTok: https://www.tiktok.com/@kennethyimhomes LinkedIn: https://www.linkedin.com/in/kennethyimhomes Facebook: https://www.facebook.com/BroadviewAvenue Web: http://www.broadviewavenue.ca ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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Thriving Property Management: Fast. Friendly. Reliable.

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Podcast 12: Hear From the Experts: What You Need to Know About 8 Elm on Yonge

That’s right, only 15% down until occupancy in Spring 2027!

Then you can secure your spot in one of the hottest locations in the city.

Yonge and Dundas is the busiest intersection in all of Toronto, with over 100,000 people crossing the intersection daily.

Toronto Metropolitian University (TMU), formerly known as Ryerson University, now has over 47,000 students enrolled. University of Toronto (U of T) has over 65,000 students in the downtown campus. That's over 112,000 students, not to mention all the reisdent doctors, nurses, hospital staff, and workers in the financial district.

They all have to live somewhere.

CIBC Deputy Chief Economist Benjamin Tal says that there will be a huge lack of supply and high demand in the coming years. Labour shortage, labour costs, material costs are the major problem. Developers are holding back.

"Supply will be an issue. Supply will ease in the next few years. Projects will be delayed, because its not economical to build. When the interest rates go back down, supply won't be there."

With the average rental price increasing at 19.5% year-over-year, now at an average price of $2,806 per month, owning a rental property in the hottest part of Toronto is a no brainer investment.

If you have young kids and you are thinking about what to do when they eventually have to go to school, investing in this pre-construction project might be the answer.

You can get a head start on their future by investing in a condo that won't be completed until Spring 2027. Only a 15% deposit is required until occupancy, so it's an easy way to get started on their future. All you need is 15% total deposit until 2027.

$10,000 on Signing
Balance to 5% in 30 Days
5% in 120 Days
2.5% in 380 Days
2.5% in 540 Days

Final 5% on occupancy in Spring 2027

If you're ready to get started, reply back to this email and let's secure your unit, ahead of the official launch on September 24.

Schedule your call now to review floor plans and pricing.https://calendly.com/broadviewavenue/ken?month=2022-09

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Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1 Instagram: https://www.instagram.com/kennethyimhomes TikTok: https://www.tiktok.com/@kennethyimhomes LinkedIn: https://www.linkedin.com/in/kennethyimhomes Facebook: https://www.facebook.com/BroadviewAvenue Web: http://www.broadviewavenue.ca ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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You can't teach the hustle. That motivation to just get started in to action. Whether you are a client or an agent representing a client, sometimes it's hard to find that catalyst that you need, unless you know the reason as to why you are doing it. Join my friend John Chai as we discuss what it takes to get started to be effective and to be productive.

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Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1 Instagram: https://www.instagram.com/kennethyimhomes TikTok: https://www.tiktok.com/@kennethyimhomes LinkedIn: https://www.linkedin.com/in/kennethyimhomes Facebook: https://www.facebook.com/BroadviewAvenue Web: http://www.broadviewavenue.ca ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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The number of sales are down by -34.2% year-over-year. What does that mean for the Toronto real estate market? How does it affect you? What about sellers, are they in a panic or rush to sell? Check out our latest market report based on the August 2022 stats from the Toronto Real Estate Market (entire GTA). I'll go through detached vs condo, months of inventory, and the number of sales.

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What does the current interest rate hikes mean for borrowers, homeowners, and savers? Where are the opportunities to take advantage of the scenario?

Toronto's housing market has been on the rise for over two decades, but recent interest rate hikes could burst the bubble. Despite this, many people are still choosing to buy. If interest rates continue to rise, it could lead to a ripple effect throughout the economy as people lose jobs and businesses struggle to stay afloat.

There is a lot of negative news in the media about the real estate market, so let's take a positive spin on things and uncover the opportunities in today's rising interest rate environment, whether you are a seller or a buyer.

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Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+youtube@broadviewavenue.ca; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1 Instagram: https://www.instagram.com/kennethyimhomes TikTok: https://www.tiktok.com/@kennethyimhomes LinkedIn: https://www.linkedin.com/in/kennethyimhomes Facebook: https://www.facebook.com/BroadviewAvenue Web: http://www.broadviewavenue.ca ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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Welcome to another episode of Broadview Table Talks. In this episode, I will be talking with our Agent, Bahder Boestamam as he became a first time landlord! Landlording is not easy! Listen in for advice on managing a property and what it means to be a landlord. -----

I'm so proud of our team member, and our newest landlord Bahder Boestamam!———

FOLLOW US HERE:

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Bear with me while I walk through an example of what I love more, stocks vs real estate.

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My good friend Joe Lu from Heal House Developments is doing something completely different. He's blending health and wellness with real estate development. This is a unique approach to the traditional profit-oriented capitalism, and turning it around for a bigger purpose.

Hopefully this gives you some inspiration!

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Toronto real estate market has been on a crazy ride. Broadview avenue real estate experts, Kenneth Yim and Michael Ng share their thoughts on the latest numbers and the market. Are you thinking of selling? Do you have questions about making a smart purchase? Tune into our podcast as our experts discuss these topics and more! Listen in!

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Life is hard. Especially as we head into uncertain times with a potential recession on the horizon, with record high interest rate hikes, and talks of the biggest real estate crash that we have seen in decades. How do you keep your mindset on the right path during uncertain times like this? How do you set big goals that make you uneasy, and how do you find out what your big why is?

Listen as we sit down with performance coach Jamie Purvis, one of my previous mentors and colleagues, as we discuss how to develop a winning mindset.

By the way, if you like what Jamie has to say, check out his company www.bedohavemovement.com. Make sure you use promo code “broadviewtable” to get 75% off the Focus Made Easy course! WOW.

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Season 4, Episode 5: Are We Going To See A Toronto Real Estate Market Crash?

Everything to do with Mortgages in this Wild Market

Everywhere you turn, you see the headlines about interest rates in Canada.  The rapid rate of increase has been staggering. Even though the Bank of Canada warned us about it, almost everyone had been caught off guard by it.  Join us as we sit with Rakhee Dhingra of Mortgage Savvy, to see what she has been seeing on the ground as a mortgage broker in Toronto.

Check out her team at www.msavvy.ca.

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Season 4, Episode 4: This Crazy Rental Market!

What's happening in the crazy rental market? And how did we get here? How long will it last for?

While we only had a +5.3% price growth in June for the GTA from this time last year, we saw an increase of +21.9% in average rental prices. Why did the pace of the average rental price grow almost 4x higher than the price of purchasing a home? It’s because of the rapid increase in the interest rate policy used to tame inflation has put buying activity on pause. Less people qualify for the mortgages they once were able to qualify for, and that the cost of borrowing has increased dramatically, so that more people are looking towards renting until there is less turbulence in the market and that hopefully rates come back down a little bit. Or they are waiting for prices to fall, so in the interim, they decide to rent.

Either way, our leasing agent Keyvan Foroughi is on the ground running with tenants, putting in offers in the competitive rental market. He’s seeing lease listings have multiple offers, and they are leasing way over the expected asking price from recent comparable leases from only a month ago. Perhaps all this craziness in the leasing market will bring back real estate investors?

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If you want to chat with us, do the following:

1. Send an email at ken+podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

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If you’re not ready to reach out and just want to follow for more, find us online:

Web: http://www.broadviewavenue.ca
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Season 4, Episode 3: Housing (un)Affordability: How to Make Housing More Affordable.

Housing in big cities like Toronto are massively unaffordable. We talk about why it’s like this, how can the government make housing more affordable, and how individuals can make it work within their own budgets.

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If you want to chat with us, do the following:

1. Send an email at ken+podcast@broadviewavenue.ca; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.

—

If you’re not ready to reach out and just want to follow for more, find us online:

Web: http://www.broadviewavenue.ca
YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
Instagram: https://www.instagram.com/kennethyimhomes/
TikTok: https://www.tiktok.com/@kennethyimhomes
LinkedIn: https://www.linkedin.com/in/kennethyimhomes/
Facebook: https://www.facebook.com/BroadviewAvenue/

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Season 4, Episode 2: Financial Literacy: How to Make Sound Financial Decisions

Do you know the concepts of financial literacy? What should you invest in?
We all know that real estate is a great asset class, but coming up with the down payment is hard. How do you get started?

They don’t teach any of this stuff in school. Thank goodness I learned it early on. Listen as Ken talks to the team about financial literacy and how to make sound financial decisions.

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Web: http://www.broadviewavenue.ca
YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
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LinkedIn: https://www.linkedin.com/in/kennethyimhomes/
Facebook: https://www.facebook.com/BroadviewAvenue/

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Season 4, Episode 1: Buyer's Remorse: as the market cools, what can buyer's do about it?

Welcome back to the podcast! It’s been a year since our last episode. Since then, we’ve been focusing on rapidly growing the team. Now that we have a great vibe going on, let’s talk about what happens when buyer regret their decisions.

Also in this episode, we talk about housing (un)affordability in Toronto, and what “affordable housing” even means.

Check us out at www.broadviewavenue.ca.

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Interest rates are up, so what’s my home worth now?

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Interest rates are up, so what’s my home worth now?

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Welcome to another busy day in the life of a Real Estate Broker living in Toronto. Today I picked out some finishes for a new investment property and then drove all the way down to Listowel, Ontario about 1hr 30mins away from Toronto to check out another investment retirement home development.

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Today we are going to take a look at an investment project we have going on in Listowel Ontario Canada.

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Let's talk about how the Bank of Canada’s interest rate hikes could impact your mortgage.

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I went to visit my buddy Jacob Harris to see how he's building new subdivision homes in Houston, Texas. Homes are a fraction of the prices as compared to Toronto, and is the 4th largest city in the United States, creeping up to the 3rd place.

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Today we are going to take a look at a unit which we have been getting a lot of complaints about due to our tenant causing issues.

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Today we are going to take a look at a unit which we have been getting a lot of complaints about due to our tenant causing issues.

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In today's video, we will talk about how to find deals in real estate, and the four ways to make money in real estate.

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As Canada is in a rising interest rate environment, my argument is that it will not crash the real estate market. We know that housing is highly sensitive to interest rates, but this is why it won’t make a difference.

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Prices are up +18.3% and the average days on market is just over 2 weeks. How long can this last for?

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People are coming back to the City. Not everyone, but enough. Enough to drive the rental market insane, causing bidding wars all over again… FOR RENTALS!

What does that mean for the Toronto real estate market? Watch this video or listen to this podcast to find out.

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Join Ken Yim with Terry Hepditch of HOS Financial inc. to talk about the Rent-To-Own program.  This revolutionary program gives consumers an alternative option when the bank says “NO”! In this webinar, we will teach you about some alternative borrowing options to give your family (or your buyer cli

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Finally, we can dine indoors at restaurants again! Malls are open again. Over 61% of adults have been double vaccinated, 80% have at least one dose. Even if you personally have chosen not to vaccinate, the fact is that we are heading towards herd immunity and we can safely return to our normal lives.

So what does this mean for the downtown Toronto rental market?

Well, we are noticing just in this past month or so, the rental market has been on fire. While prices haven’t fully recovered to pre-pandemic levels, inventory is shrinking, demand is strengthening, and we are even seeing bidding wars on rental properties. When the volume increases, prices eventually do too.

Finally, we can dine indoors at restaurants again! Malls are open again. Over 61% of adults have been double vaccinated, 80% have at least one dose. Even if you personally have chosen not to vaccinate, the fact is that we are heading towards herd immunity and we can safely return to our normal lives.

So what does this mean for the downtown Toronto rental market?

Well, we are noticing just in this past month or so, the rental market has been on fire. While prices haven’t fully recovered to pre-pandemic levels, inventory is shrinking, demand is strengthening, and we are even seeing bidding wars on rental properties. When the volume increases, prices eventually do too.

In fact, you can see rents for a one bedroom (and one bedroom plus den) in downtown Toronto climb up slowly when you look at the average rental price on a monthly basis. If you haven’t been downtown lately, take a stroll. It’s thriving. We have been locked up for too long. We are all (im)patiently anticipating a normal life again. We want to see each other, we all want to do things. We are sick of cooking and delivered foods. We crave the experience of living, eating, and working downtown again.

In addition to all of this, real estate is getting expensive. A lot of people are priced out of home ownership, or they are choosing not to participate in it. They are looking to rent until they get to the next stage in life, save more money, or decide where they want to live. Maybe it’s a “no-strings attached” way for those that did the urban exodus to ease back in to the city.

It’s no wonder why the rental market is picking up again.

I think we are just getting started too. Just wait until we are completely back to normal, masks aren’t required, and more importantly when the borders open up again and we have a flood of newcomers to the country. As homes get more and more expensive, it just props up the rental market even more.

Until next time, we hope to talk or see you soon.

Kenneth Yim
Broadview Avenue Group Real Estate Team

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In today's video, we have a discussion about buying your first investment real estate property, and a few tips and tricks that you should know to get you in the right headspace and make sure you set off on the right foot.

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I wanted to have this chat with life insurance agent Erica Lee for a really long time.  I always hated spending my hard earned after tax money on life insurance (or any insurance for that matter).  Then again, I've also always heard that all wealthy people believe in life insurance, and use it as an investment and tax planning tool.  After consulting with her, I can see how this is so powerful.

Hence why I am here bringing this talk to you now.  I got a lot of value by working with her, I hope it can do the same for you.

For full disclaimer, I am NOT getting paid for this.  I do not sell insurance products, nor I do not get a kickback on any insurance policies.  I probably won't even get a real estate deal or client referral from Erica for this.  I only wanted to bring this to light because I finally took the leap, and want everyone to see the light too.  It's an important conversation to have, especially if you hold assets and have any loved ones to pass them off to, because inevitably, we will all pass on and you can't take it with you.

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We are supposed to be in a pandemic. A lot of people are out of work. Some businesses are shutting down for good. Why then, are we seeing bidding wars again in Ontario? Not just Toronto, but also the suburbs like York , Peel, Durham, and Halton. Even some condos are seeing bidding wars. Why?

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Let's welcome in the new year with a little outlook on what inflation may look like come post-pandemic. The vaccines have been released and are going to continue coming into Canada which means the pandemic could be coming to an end soon. Once everything is said and done, what's going to happen with our economy?

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Here are the latest trends during COVID-19:

I know this is unsettling times for everyone, and you’re worried about the market. Or perhaps you’re interested in jumping in. It’s on your mind: How has the coronavirus impacted the resilient Toronto real estate market and what’s happening during the COVID-19 pandemic?

Well here are the actual statistics from the Toronto Regional Real Estate Board’s live MLS feed. If it shows a zero number, that means that the results have not been released for the week yet, so check back tomorrow to see the most updated results. Also, we realize that it is difficult to use hard boundaries on selecting communities, but you have to draw the line somewhere, so this is what we came up with. It should be a big enough of a sample size to give you relevant information. As always, you can reach out to us if you want us to give you the statistics on your particular area and/or housing type.

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Podcast Season 2 Episode 7: The Currency of Time

Are you trading time for dollars?

It’s Kenneth Yim, and thanks for tuning in to Boardwalk Talks, the Toronto real estate investing podcast where we walk and talk and go around the board, and play the game of collecting properties. Why? Because we all want to generate enough passive income to fund our life and so that we don’t have to depend on working to earn active income. This show is dedicated to discussing the strategies to help you achieve financial freedom through real estate.

Imagine in exactly 150 years from now, it is the year 2169, and people have been genetically engineered to stop aging after they turn 25, after which a 1 year countdown on their forearm begins. When it hits zero, the person “times out” and they die instantly. Furthermore, people can transfer time between each other with a special mutual twist of the arm, so then time has become the official currency in which people with a lot of years left can exchange their time for goods and services from others. Yes, this is the sci-fi film called “In Time” featuring Justin Timberlake and Amanda Seyfried. If you haven’t watched the film, check it out on Netflix, it’s one of my favourite movies. Not for the acting or actors or anything like that, it’s the concept that time is the universal currency that we trade on.

Often times, when my day gets so busy and every single minute has been accounted for, I feel like I’m also living in this dystopian future. I feel as if I’m trading my time for dollars, and that every free minute that I have on days off are extremely valuable. Do you ever feel like you are living this way?

Maybe it’s that today is a special day, it’s the day that I turn 40 years old. There, I’ve just admitted my age to you all. Anyway, as I hit the peak of the hill, I don’t think I’ve done so bad now that I’m coming down the other side.

It’s not that I’m trying to boast or show off, I just want to express that I am grateful. Grateful for the way that the real estate market has taken off over the past decade, and the abundance it has created for me and for my clients as well.

You see, my story started in September 2006 when I put the deposit down on my very first pre-construction condo that partially came from $25,000 that my grandmother gave me. Since then, I’ve owned several condos and now have had over 18 properties under my name, a lot of which I have kept. On one of the condos that I have owned for 9 years, the mortgage is almost paid off. It’s producing great cashflow, and I’m paying off more principal than I am interest, so it’s only a matter of time before it is completely paid off. That condo really didn’t need much work in to it. I lived in it for about 3 years, rented it out for over 5 years for a wonderful couple that never called me for anything, and they even paid a day early just to be sure that the payments cleared. That’s around $60,000 that they paid off in principle on the mortgage, and during that same time, the condo nearly doubled in value.

During that time, I’ve been fortunate enough to have the foresight to buy other properties, a lot of it started by buying preconstruction condos which afforded me the time to save up for the down payment. I’ve taken some of that equity and have gotten myself in to a freehold triplex, a commercial mixed use multiplex, and some more condos as well. I’ve done some flips, a small assembly, and assignments as well. The flips and assignments produced some good cash, but that cash is useless unless you put it back to use. It’s so easy to spend that large chunk of change on toys or vacations, charities, and those around you that you love.

I’d rather have more assets. Cash producing assets that will pay itself down through rental income, that has an upside based on improvements that you can make to it to increase its value, and eventually refinance to take your cash out… and then do it again. It’s a slow process, but the funny thing about time is that it flies when you are having fun. 5 years passes by in a blink of an eye now, which is just enough time to for the typical 5 year fixed mortgage term, and also that’s the length of the typical commercial tenancy, or most pre-construction projects to complete from the launch date. 5 years passes by so fast, and if you aren’t putting that time to good use, meaning, planting your seeds and letting it grow, then you’re going to get left behind.

So enjoy your time, enjoy it with your loved ones, cherish every moment, but please, put it to good use. Like the “In Time” movie that you need to watch, think about time being the real currency in this market. Demand is far greater than supply, and it looks like Toronto will continue on this trend for the next 5 years at least. And what about this government? Each year they keep printing money, devaluing our currency, making hard assets go up in value.

If you’re thinking, is now the right time to get in to the market? Well, the right time is when YOU are ready. Because remember, time on the market is better than timing the market. Which basically means, the more time you own this property, that you’re on this bus, that you’re on the train that’s speeding down the railroad, it’s better than figuring out when to get on. Because what if you bought Microsoft stock 30 years ago? Or if you bought that property 30 years ago? How would that make you feel? So get in early. And what better time to start then now?

With that, I’m going to sign off and eat my delicious birthday cake. Until then, I’ll catch you next week!

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Podcast Season 2 Episode 6: Here are the 9 ways to make money in real estate.Ever wonder how people can afford these crazy prices?

Likely they are trade-up buyers. There's no way that this can be someone's first home. Use equity to grow in to more equity. How? Just get started. Start building equity through real estate. Here are 9 ways you can get started.

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Podcast Season 2 Episode 5:
The R word.

How to fast track or catch up to retirement if you haven’t started planning for it yet.

It’s Kenneth Yim, and thanks for tuning in to Boardwalk Talks, the Toronto real estate investing podcast where we walk and talk and go around the board, and play the game of collecting properties. Why? Because we all want to generate enough passive income to fund our life and so that we don’t have to depend on working to earn active income. This show is dedicated to discussing the strategies to help you achieve financial freedom through real estate.

Have you thought about how and when you are going to retire? Statistics Canada says that in 2018, the average age of all retirees is 63.8 years old (1).

And CIBC released a poll last year, where 32% of Canadians between the ages of 45 and 64 have nothing saved for retirement.

53% of Canadians say they don’t actually know if they are saving enough.

And for many people, the amount of money required to fund their lives for approximately 30 years of retirement is a secondary consideration altogether.

Retirement planning is not a one size fits all exercise, and there certainly is not a cookie cutter approach to determining how much money you will need to sustain you throughout your golden years. That’s because the actual dollar amount you need to save will be driven by the lifestyle considerations you choose.

According to the report, the average amount of personal savings Canadians estimate they’ll need to retire comfortably is $756,000. Again, that number may or may not be enough for you, it really depends on you. However, if you’re looking at your bank account and you don’t see nearly 7 figures in there and you don’t think you can ever get there, then don’t worry, there’s still hope. If you think that’s not enough, then it’s all the more reason to start thinking and talking about it.

So, here are a few tips on how you can build your nest egg, courtesy of CIBC:

1. Plan your lifestyle and make the future as predictable as possible
2. Understand your spending today and estimate what it’s likely to be in retirement
3. Work with a financial advisor to project your income and expenses
4. Put your savings plan on auto-pilot with regular deposits to a dedicated savings account
5. Invest for the long term and revisit your investment plan regularly, at least once a year
6. Determine the best time to draw down on public pension benefits or personal savings

So how do you actually do all of this? Well, my plan is to buy more properties. I’m not a huge fan of equities, they are too volatile and I want something more stable. So I look to rental properties for my solution.

You can start with something as simple as buying a condo in downtown Toronto, where vacancy rates are one of the lowest in the world. The rental demand is just that strong. Look at our booming tech scene in Toronto, seemingly overnight it has just exploded. Tech works are paid very well as compared to other industries out there, and as they are newcomers to the country, their initial housing strategy would be to rent, not buy. As they move here and trying to figure themselves out, they want to rent first.

So I was just down at a conference in California last week, and had a staggering realization. The US vacancy rate is 6.18% overall, and the California vacancy rate is 3.49%, according to the last US census in 2017. Let’s compare this to the Canadian Housing and Mortgage Corporation’s numbers. Nationally, it was 3.0% in 2017, and that trend has gone down to 2.4% last year. Toronto’s vacancy rate is one of the lowest in the country, at around 1.0%.

One thing I learned from being at that conference and talking to our American friends is that our Toronto rental market is strong, which props up the housing sector and makes this whole thing work. Toronto is an attractive place to live, and properties are getting more and more expensive (they already are expensive, I should say). Furthermore, the mortgage stress test makes it hard to get approved for a loan, and inflation is getting stronger. I mean, you can see this in the price of every day goods, like a cup of coffee or gas or avocado toast. All the while that the average wages are just stagnating. Our children of the future will have a difficult time saving enough for a down payment, let alone affording the mortgages. Never mind the next generation, our generation now is barely scraping by.

If this sounds all fine and dandy to you but an investment property seems out of reach, here’s some things that you can do to get started. Let’s work off of CIBC’s tips. The first two don’t change, which is:

1. Plan your lifestyle and make the future as predictable as possible, and
2. Understand your spending today and estimate what it’s likely to be in retirement.

You should know those numbers. You need to do these steps regardless. I would then add the following comments the next four points:

1. Work with a financial advisor to project your income and expenses. That financial advisor can be someone like our real estate team, it doesn’t have to be a traditional financial advisor playing in the equities market. Or it can be both.

2. Put your savings plan on auto-pilot with regular deposits to a dedicated savings account. Or, you can buy a preconstruction condo which will force you to save for around 20% of the purchase price over a period of 2-4 years, then you can have the tenants pay off the remaining 80% of the purchase price by paying off your mortgage over the next 25 years. Hard assets should be inflation-proof, because housing costs are included in the basket of goods that the government uses to calculate the Consumer Price Index which is the definition of inflation in the first place.

3. Invest for the long term and revisit your investment plan regularly, at least once a year. If you are one of our clients, give us a call and we can give you an update on your real estate holdings at any time.

4. Determine the best time to draw down on public pension benefits or personal savings. I would argue to never draw down on it. Don’t cut down the tree, keep watering that tree and eat the fruit it bears. If you find that there’s not enough fruit and you have time to wait, then take the seeds and plant some more trees and water that tree and eat the fruit that this tree eventually bears. And then, when you have an orchid, you can pass that down to future generations.

Anyway, the moral of the story is to let your tenants do all the heavy lifting to pay down and pay off your mortgage over the next 25 or 30 years. You are doing social justice to society by providing housing for newcomers, young people, students, lifestyle renters, and anyone that chooses to rent instead of buy. In reward for your patience, you will have a good retirement and your next generation will be taken care of, whether you gift them all or part of your portfolio, or you can use it to teach them math and financial management for looking after assets.

A question that I get from a lot of people is, what If your properties don’t cover? In my opinion, if the negative cashflow isn’t an issue for you, then it’s OK because the tenants are still paying off a large portion of your mortgage. As long as they are paying enough rent to cover property taxes, interest, insurance, maintenance and management fees, then everything else just goes to growing your equity. Think about it, the typical mortgage amortization is either 25 or maybe 30 years. If you do nothing but just buy one property, in 25 or 30 years, you will have caught up to the amount needed to retire according to that CIBC poll, which is only $756,000. I say only, because the average price of a property is a little over $806,000 in Toronto. And that’s in today’s dollars, imagine how much it will amount to in 25 years from now.

That my friends, is how you retire.

Thanks for listening, and catch you next week.

(1) Statistics Canada. Table 14-10-0060-01 Retirement age by class of worker, annual. https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410006001

(2) BNN Bloomberg. 32% of Canadians are nearing retirement without any savings: Poll: https://www.bnnbloomberg.ca/32-of-canadians-are-nearing-retirement-without-any-savings-poll-1.991680

(3) CIBC Poll on Retirement: http://cibc.mediaroom.com/2018-02-08-Am-I-saving-enough-to-retire-Vast-majority-of-Canadians-just-dont-know-CIBC-poll

(4) Vacancy rates in California and US: https://www.deptofnumbers.com/rent/california/

(5) Vacancy rates in Toronto: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3410012701

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Podcast Season 2 Episode 4:
Are Condos Just A Big Scam?

There was a CBC documentary made in 2013 but just got released on YouTube a couple of days ago. It has gone viral, with over 53 thousand views so far and counting. It’s called “Towers of trouble” with a sub caption: “Toronto’s condo market has no rule book”. The documentary is saying that we should be afraid condos (known as HOA’s for those of you listening in the US) because of falling glass and that it’s a scam to buy poorly-built condos.

So today’s podcast topic is: is it a scam to buy a condo or not?

It’s Kenneth Yim, and thanks for tuning in to Boardwalk Talks, the Toronto real estate investing podcast where we walk and talk and go around the board collecting properties.

Basically this documentary is talking about Toronto’s condo market and the poor quality of construction, that there is little to no consumer protection, that the condo act reform keeps getting pushed back due to developers with political persuasion, and that the entire industry was a dumping ground for the world’s capital to take advantage of the end user. Here is an excerpt from the beginning part of the documentary:

…

I think you get the point. It was well written and they do have some valid points, especially when they said that consumers believe the condo game is about home ownership when it’s really, it’s as much about global money markets. So yes, I do think condos are becoming commoditized as investments, but I don’t agree with the video where they say it’s not a good housing alternative. It really is. With vacancy rates at single digits, I’m talking about just around 1%, that means 99% of the condos available for lease in downtown Toronto are actually being absorbed and occupied.

The average rent for a one bedroom condo in the second quarter in 2019 in the downtown C01 district is $2,359, which is up 5% from the same quarter the year before, which was up 11% from the year before that. Rents are far outpacing the growth of average incomes, and as a result, tenants have come up with creative ways to make condos affordable. They are getting roommates, and they are getting help from parents to subsidize their rents and act as guarantors.

All this is because of the attractiveness of living downtown. People don’t want to deal with traffic any more, people don’t want the long commutes. People want nice restaurants, entertainment, and amenities. All the jobs are down here, and Toronto is becoming or already is a major player in the tech space. Canada is a safe place to live, if you factor in all of the nasty stuff happening all around the world like the protests in Hong Kong, trade tensions in the US, Brexit and the EU falling apart, wars, human rights, terrorist bombings, and all that crazy stuff. We are lucky to be in Canada. The smart money is coming back to Canada and I believe that there is a lot of up side here in the long term.

So the demand for housing is here. There’s no denying it.

As for the issue with poor workmanship, that’s what the reserve fund is for. If you don’t know what a reserve fund is, it’s a small section of the annual operating budget that is made up of your monthly maintenance fees, typically it’s 10-15% of any annual budget, and it’s money that you sock away for a rainy day. The reserve fund has to be reviewed every 3 years by law, and every other year has to be an on-site visit, so the engineers should be able to give the boards an accurate assessment as to how much they need to budget for repairs.

The documentary goes on to further exaggerate the situation by saying that condo boards are made up of amateurs and volunteers that haven’t got a clue about what they are doing, but I disagree. Sure, there are some rotten apples, you may have heard of some scandals in the news a couple of years ago with condo board members, but for the most part these are capable individuals. They get voted in from the all of the owners, and they are expected to make sound judgement calls from employing experts like lawyers, management companies, engineers, and other trades to keep the building sustainable in the long term. I should know, I have 10 years experience as condo board presidents on a couple of condos. Anyway, the system isn’t perfect, but it’s getting better with condo act reform as the industry matures. In theory, these condos can last forever.

Some of you know that I am a fan of condo investing, I mean, that’s how I got started building my wealth in real estate, but really I’m a fan of investing in anything that you can get your hands on.

The average price of a detached home in Toronto is 1.2 million dollars, whereas the average price of a condo is half of that, just over $600 thousand. In Downtown Toronto, that number is hovering around $1.4 million for detached homes, and $700 thousand for condos in the core. Basically, condos are approximately half the cost of detached homes.

So how do you build wealth through Real Estate Investing? It really all begins with taking that first step. So whatever you can afford, get your hands on it. We are going through a gold rush of real estate in Toronto, and before you know it, we will become the next Manhattan, Hong Kong, Paris, London and other mega cities.

Demand isn’t going anywhere, supply can’t keep up, and we will continue to attract more global wealth, talent, and all sorts of diverse economies and industries here.

If you want to share your thoughts or continue talking about this, visit broadviewavenue.ca, and click on the button to schedule a 15 minute conversation with me and we can go back and forth about investing in Toronto real estate. It’s Ken, and don’t believe the hype. Thanks for listening.

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Podcast Season 2 Episode 3: Effective Tenant Management

Here are 3 lessons I learned from almost a decade of real estate investing.

The first investment property I purchased was 13 years ago in 2006, just after I got in to real estate. I bought it pre-construction from $25,000 that my dear grandmother gave me out of the love of her own heart. She taught me many lessons in business and life, and I love her for that. So instead of buying a new car or travelling, which I really wanted to do back then at a young age, I decided I should invest in to real estate. I will always remember my father saying “if only I kept that condo”. That was probably one of the main reasons that I got started in investing in real estate, which I accidentally fell in to. I had no clue what I was doing at the time. You can read about my story in the first chapter of my “Passive Income” book that you can get at our website at www.broadviewavenue.ca.

Today’s podcast is about how to effectively manage tenants. Here are 3 lessons I learned from almost a decade of real estate investing.

It’s Kenneth Yim, and welcome to Boardwalk Talks, the podcast for real estate investing in Toronto.

How To Effectively Manage Tenants

Real estate professionals discuss the financial implications of real estate investing, but they often neglect to discuss the importance of tenant management and how it contributes to the success of financial growth and stability.

To succeed at growing your wealth through real estate investing, you have to have a steady tenant base paying your mortgage. The whole idea behind investment properties is to have someone paying down the mortgage as your asset is growing in value. Keeping your tenants happy is imperative to the success of your landlord/tenant relationship. Landlords who are effective at managing tenants will rarely have a problem, and essentially have a business partner that is footing a large part of the capital to keep the whole operation functional and will help you build your portfolio.

To ensure success, the first step is to choose a property that will is attractive to renters. Such as picking a neighbourhood that has lots of amenities (such as schools, parks, shopping, transit) and also a good walk score. Doing so will keep your property in demand allowing a large pool of tenants to choose from at all times.

Or maybe you choose to invest in a luxury property, and you take your time to curate a really good tenant.

Once you have a coveted tenant in place, build a connection based on respect and appreciation. Treating your tenants with respect will create a harmonious relationship.

1. Make your tenants a priority

You need to treat your tenants like customers. Make your tenants complaints, issues, and struggles a priority. You are providing your tenants with a home, a home they will fill with memories and where they want to feel comfortable and safe. If you make them happy in their home, and they can trust you to help when needed, they will only contact you when absolutely necessary. They will respect you and trust that you are providing the very best environment for them to be in. This goes a long way when any issues or problems have to be dealt with.

2. Show your tenants your appreciation

As an example, on move-in day, leave a welcome basket filled with treats like wine and chocolates, or move-in basics like soaps, scents, etc., and include a map of the area. This gesture shows that they are not just dollars to you, but that you are doing your best to make them comfortable in their space. When you have a new customer in your business, you show your appreciation with tokens of thanks. So when you have a new tenant, show your appreciation the exact same way. Send a holiday greeting to continue to show your support through the year.

3. Hire a property management

The fourth most important rule of real estate apart from location, location, and location, is that time is of the essence. You HAVE to respond to your tenants in a quickly to keep them happy as customers.

If you find that your day is already filled with appointments and your schedule is always packed, then hiring a property manager is the best way to ensure all issues will be attended to and resolved in a timely fashion. After all, this is supposed to be a passive investment. A property manager that understands the Landlord and Tenant Act and can advise you on legal issues that pertain to various situations that may arise. Once you hire a property manager, you’ll only have one question - why did I wait so long to do this?!

If you want to learn more, visit broadviewavenue.ca, and click on the button to schedule a 15 minute call with us. We can help you build your wealth as a real estate investor. It’s Kenneth Yim, and thanks for listening.

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How can you tell if we are in a buyer's market or a seller's market? Well, stay tuned, I'll tell you how.

That's a really good question, and it depends on numbers you are looking at. So, according to the Canadian Real Estate Association, the national average sale price is up 1.72% year-over-year, from this time last year. But this includes all of the provinces, and all the territories in ALL of Canada. So let’s look at the Toronto market and the resale stats there.

So the number I really like to use to determine between a seller's market and a buyer's market is the Sales-to-New-Listings-Ratio. And it's just that, it's basically takes the number of new listings and the number of past sales, and divide the two numbers and you get a ratio. So if you get 10,000 new listings on the market, 5,000 sales, that leaves you with another 50% of listings for next month to sell.

So in theory, it should be be 50% throughout and that'd be balanced. Well, like to say that if it's 60% or higher, then you are in a seller's market, which basically means that there's more sales versus new listings to replenish those sales next month, right? So everyone is fighting over the same amount of listings.

A 40% ratio or below is a buyer's market, which means there's more new listings that come on to the market than there are sales. Make sense?

Last month in June 2019, there was 8,860 sales in all of the Toronto Real Estate Board, and this got replenished with 15,816 new listings, giving us a Sales to New Listings Ratio of 56%. So remember, anything between 40 and 60% is a balanced market, a 50/50 ratio is a perfectly balanced market, meaning there is enough inventory to replenish the amount of sales going on.

If you look at the detached homes in Toronto, the Sales to New Listing ratio is 50.8%, perfectly balanced.

However, not so good luck for the sellers in York Region. There's a Sales to New Listing Ratio of 39.2%, making it a buyer’s market up there.

For Downtown Toronto condo owners, it’s more of a seller’s market, where the Sales to New Listing Ratio is 58.7%. That trend is slowly edging downwards though, and I think it's going to be more of a balanced market sooner or later, but right now it's still a seller's market.

There’s a lot of other factors that we use to determine the overall health of the Toronto real estate board, such as the average price, number of units sold, average days on market, and etc. But let's dive in to the Toronto numbers for a second.

The average price in the overall Toronto Real Estate Board right now is $832,703.

The average price of a detached home in Toronto is just over $1.3 million, and for York Region it's $1.115 million. The average price of a condo in the core of Downtown Toronto is $706,490. To me that's kind of crazy, it's a little bit high, but it's still a seller's market so... maybe it's a good time to trade up if you're thinking about that?

We had two major government events that happened over the past 2 years, and that was the stress test in January 2018, and the Fair Housing Plan of April 2017. And in the news recently, the Bank of Canada announced a lower benchmark qualifying rate, making the stress test a little lower at 5.14% for a qualifying rate vs 5.34%. So I still think there's more room to grow in the market, and you can see here that the Greater Toronto Area market has bounced back from the January 2018 stress test, but not so much from the April 2017 Fair Housing Act. This is certainly the case for detached homes in Toronto and York Region. However, Downtown Toronto condos don't seem to be affected by either of these two events and the prices just keep going up.

I mean, it kind of makes sense, they are more affordable housing option for all of the housing options out there.

So as you can see, the numbers are open to so much interpretation. To get an accurate analysis of your local area market and your home or investment property, give us a call. Visit us at www.broadviewavenue.ca and click on the button to get a 15 minute call with us.

Talk soon!

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[INTRO]

I have this itch that I can't scratch. It's basically buying more properties. And If you already have a few condo or freehold investments and you're wondering what to buy next between the two, either condo or freehold, you want to grow your portfolio or maybe you're just starting out and you want to look in getting into the market. Either way, This podcast is about condo or freehold investing. Which one's better? Join me my most recent conversation with my good friend Charles Messina. Charlie and I have been working together for quite some time now, as our team has helped him grow and maintain his investment portfolio. So In this first episode of season two, we talked about what's better to hold condo or freehold investments.

Welcome to season two of boardwalk talks, your real estate investment show with your host, Kenneth Yim. Excuse the audio quality this conversation or future episodes will be high quality, just like this intro. Anyway, let's get right into it.

[KEN]

Should I buy a freehold or condos and investment?

[CHARLES]:

Yeah, this is a topic we've talked about before can and people ask us all the time. And I think it's a good idea for us to talk about the pros and cons of each. What do you think?

Yeah, sounds great. I mean, we both hold both properties as investments. I mean, we've gone through that. So I guess we can talk on either side, right?

[CHARLES]:

Yeah, that's right.

[KEN]

Why don’t we do rock, paper, scissors? So winner takes freehold?

[CHARLES]:

Yes!

[KEN]:

1. Tie. 123. Okay, so I took winner, so I'm freehold.

[CHARLES]:

Yes.

[KEN]:

All right, here we go. So I get the freehold side, you get the condo side pros, right. So I'm pro freehold and you’re pro condo. So let's go ahead. What's, what are some pros and cons of buying freehold?

[CHARLES]:

Well, the cons of freeholed, as someone who's lived in a condominium for a long time, it’s great lifestyle, because certainly, everything's taken care of, for you. And as an investment, we both have condos as investment properties, and you're buying management of those condos. You don't get too many phone calls from your tenants simply because a lot of is taken care of through those maintenance fees.

[KEN]:

Right. Right. So I guess the biggest pro for buying a freehold investment is that you get the land, right. So the thing with that, you're right, you do have to maintain it as long as… or maintenance. I would say the upside of that is that? Well, I mean, I guess if you have multi units, multi residents per freehold investment, then you could get economies of scale that way, right? I mean, the maintenance, It's kind of optional, you don't have to do it. If you don't want to, right? You could be a true slumlord not and do nothing really, you know, certainly you do want to maintain your property. And I'm not saying that I'm not advising any of the listeners to to not maintain your properties for your tenants. But you could choose when you want to do your investment, really, you can be a little more hands on with it.

[CHARLES]:

Right. And just On that point can let's talk a little bit about the price per square foot, if you will, that you're getting as an investment on a condo versus a freehold.

[KEN]:

That's a really good point. So let's look at some numbers here. So the average price of a detached home in the entire Toronto Real Estate board is just over a million bucks. So it's 1.018 million. And for condos, it's $590,274. In Toronto, and just 416, south of Steeles, it's a little over 1.3 million for freehold and for condo is $636,000. Specifically, if you look at the downtown core, which is between Dufferin and DVP, we're looking at $706,000 Just south of the Bloor.

[CHARLES]:

Right And that's, that's an interesting point there about the spread can more so lucky and Toronto almost double. So let's talk a little bit about the fees that are associated with condos, and that spread between a condo and freehold. So typically, would you agree that a condo around that $600,000 range would be around for $450-500 a month for condo fees?

[KEN]:

Condo fees and taxes? Yeah, let's call it $500. Let's say you get about $2,400 on an average $600,000 condo, one bedroom.

[CHARLES]:

Right. And for homes, obviously you're paying taxes as well. But as you mentioned earlier, maintenance fees, those are optional things, certainly you're going to have to spend money on all. I would say, of course you have control over when and the timing of when you spend that money. Versus with the condo, you have the peace of mind that you know major things that are going wrong in the building are covered with your condo fees. But something that's come to mind for me lately as owning both a freehold investment and condo investment is, over time, as we're talking about pros and cons, we can argue both sides of it is, that you're paying a lot of money and maintenance fees over a span of 5 to 10 to 15 years. And you know, how would you respond to that?

[KEN]:

Well, that's actually a good point. Because you know, if you if you actually look at your tax bills, depending if you are in the city of Toronto or not, but if you are in the city of Toronto, let's say location is relatively similar. You're looking at a higher tax bill, which would make up the difference really, and what you're paying for the maintenance in condos. Except you also have to maintain the property, depending on the age of it. There's so many variables, it's kind of hard to say, right? So I would say all in all, I think I understand your point, that maintenance is required, whether you have a condo or freehold. It's something that depreciate some value, it's not gonna last forever, It's just a matter of whether you want it professionally property manager, or if you want to take that control on yourself.

[CHARLES]:

Right. And we've always talked about getting in the market and how we encourage our clients to get into the market. And certainly with the prices as they are typically somebody is first purchase is probably going to be a condo these days, especially a young couple. And so when we look at building up equity, then certainly further down the road, They can consider moving up to a freehold as a result of investing in that condo.

[KEN]:

For sure. And I was actually gonna say that for the summary. But you're right, I mean, at the absolute dollar amount of buying a freehold, is almost double, if not more than double, of what a condo would be. And I always find that people that are looking for condos, certainly the rents are going to be higher per door for a condo. They're nicer places, they have amenities that concierge and things like that, right? As generally nice views, right and good locations, better locations than houses generally. So of course people tenants are they're willing to pay more rent for it, The property is going to command more rent per door, But then you don't get the efficiencies that you do in a freehold in a multi unit. Right?

[CHARLES]:

Correct. Because you could have the option of potentially renting out the basement making a two units. Certainly we've heard about what the City of Toronto discussions around allowing people to build in lane ways to expand the number of housing options. That whole also comes into play if you're buying a freehold as an investment.

[KEN]:

Right, Right. You know, actually, there's a lot of other ways to improve value of the rents improve the rents, right? I mean, you could do things like coin laundry or or storage, you can add storage to the property just pop up, You know, like a container bin or some kind of locker system out there and charge a little bit more. Or you can include Wi Fi, you know, for throughout the entire all the units that you have in there. So you have three units can throw in free Wi Fi, and just jack the rents a little bit, which will improve your numbers, there's so many ways you can improve the rent. Right. With a condo, I don't think you can do that typically.

[CHARLES]:

Well, you're limited to one revenue source, of course, right?

[KEN]

Of course. Wait, you’re supposed to be acting for the pro of condo, not acting for the pros of freehold.

[CHARLES]:

Well, I guess what we're saying Ken is I guess I've come to the conclusion that you can argue both sides of the pros and cons because we own both. And I think what we're trying to do here is we're trying to give… We're not trying to be fence sitters. But it occurs to me, it's about timing and where people's people are in the whole investment profile versus It's one thing to buy your own home to live in. And then as you've done so well, with your clients over the years counselling them is when they're ready to move up to a house to live in maintaining that condo as a rental. So we're certainly not saying it's the beyond all end all one versus the other.

[KEN]:

Of course, but that's the point of our topic. We're trying to get some controversy here. But at the end of the day, to all the listeners out there, I think, really, it's just to get started. That's The moral of the story. And I think that's what you're trying to say, Charlie, If you don't get started, you won't have the opportunity to build the equity, like you do in when you're in the market.

[CHARLES]:

Correct. And we're not just talking about this, we've actually seen our clients do this. Yeah, absolutely. So we're not basically talking about anything that we haven't done ourselves or our clients.

[KEN[:

Right, let's say, say you have the means to buy a free hold investment. And say you're actually you already have one or two condos now. And now you're thinking, should I pick up my third condo? Or should I trade them all and get a house?

[CHARLES]:

Yes, that's a great point, something that I've thought about as well. And I think it goes back to having the versatility in a home. Of course, you'd have to buy the right property where you've got the option where you need a separate entrance, for example, that would be ideal if you're going to rent up the basement or an upper level as an example. And then further down the road, assessing a property is, could I build up on this property as well and increase the value of the property? Because as we know, we have many clients and we know contractors that can give us an idea of what it costs to build, in addition, or build out a basement. And then of course you do the god cost benefit analysis of is it worth it for me to spend $50,000 on a basement reno, And what are typically the rents. Very good friend of mine, he bought a bungalow in Etobicoke. And he added the second story, He's renting out his basement. And, for example, he's getting $2,000 a month now for It's a really nice basement apartment. He's done it really, really nicely. It's a two bedroom. And so here's the way he explained it to me, Ken, is because he's getting that income. Now, when we talk about maintenance, so we hire somebody to cut the grass or hire somebody to shovel the snow. Sure. And he hires a cleaning lady. So basically, he's really created his own mini condo Corporation, if you will, through a multiplex at home. So that's another way of doing it,

[KEN]:

For sure. And the downside of doing that is that you have to manage it, though. That's that's the only thing I mean, the upside is that… Well, not even the upside. It's almost a non starter to me if the numbers don't make sense, if you don't incorporate professional property management in there, Right? If your model doesn't, if your model doesn't work, and it forces you to create a job for yourself, then why you invest in the first place, you're doing an active work instead of passive investment. Right. So we should have factored in the price of vacancies and the price of maintenance as well, too.

[CHARLES]:

Correct. So math is really important.

[KEN]:

And it's absolutely so it's really hard for us to I know we're trying to discuss this to try to create some, like a topic to talk about whether we're going to go free all the condo, but at the end of the day, every single opportunity is unique. And it takes warrants further analysis for sure. For sure. And the whole story, again, is to just get started no matter where you are in your in your journey, I guess. Right? So let's switch gears a little bit and do it on the same related note. I guess what kind of quality of tenants do you think you're going to get between the two is going to be the same quality tenants? Or do you think it's gonna be different?

[CHARLES]:

Another great point there, Ken. And certainly, whether it's a condo or freehold, it depends the location, You know, for talking, you know, but a home in Lawrence Park, you know, I'm looking for clients, you know, the rents there for home and Lawrence Park, or 6-7-8 thousand dollars per month. So I think we know who can afford to pay that kind of money is probably a real occasions, From like presidents, to vice presidents of companies. If you look downtown and the financial core, we know there's younger professionals, As a result of all the jobs moving into downtown gentleman from the tech companies, financial legal accounting. And certainly you've got a great pool of tenants to choose from. From there. So the location, I think, would be critical on the type of attendance, whether it's a condo or freehold. What are your

[KEN]:

So I mean, with that example, I think that it's kind of hard to compare them side by side like that, right? I mean, how many families willing to pay $8,000 in Lawrence Park are there? Versus the new grad that's just starting to work or actually gainfully employed and looking for that one bedroom, or one plus den, or two bedroom downtown, right. So there's certainly a wider audience of people downtown looking for that. So if you're looking at apples to apples in terms, call it $2,400. And, you know, that's the purchase price of the condo, and it started the rent of the condo, and then the purchase price a certain amount, Let's say if it's double, for the purchase price of a house, that kind of caliber, and you may or may not get double the rent of that, I certainly think you're going to get lower rents in freehold versus a condo downtown.

[CHARLES]:

So kind of the rule of thumb is a lower price per square foot as a rental and a home versus a condo?

[KEN]

For sure, because of the lower budget of the tenants, I guess generally, it might translate to low quality. I mean, that's not always true. Obviously, we know that. Just because you don't make the income Right now, it doesn't mean you're not worth a lot of assets, or your family's not worth a lot of states to some of the students from overseas or whatever. There are friends with a ton of assets, a lot more than what you and I have combined, times 10. So, but I guess the general rule of thumb is if they're making less money for the average, then you're looking at lower quality of tenant. Really, I guess?

[CHARLES]:

Well, you know, I guess it's based on income. And certainly, as we've been talking about, people want to live near where they work. And you know, not everybody works on Bay Street For Big Five accounting firm. So there's different options for different people. And where some of those options could be filled just outside the downtown core. In, for example, in East York, or in Leslieville, for example, or Etobicoke. And even actually, the downtown course a Parkdale there's multiplexes, there were people say in the hospitality industry that are not making the same money, as you know, somebody in legal or in the financial core.

[KEN]:

Or even even the ones that are and choose to rent. Like the big families out in more residential areas North York, and so forth, right? Lawrence Park and all that. That is a luxury rental, and they're paying 6-7-8-10,000 or more, Right? It's a smaller market for sure. But it's up there.

[CHARLES]:

Right. So ultimately, the demand for housing and Toronto, it continues, and there's different different options for different people. And you take that into account. And we get back to the math equation, which is, what am I paying for this investment? What's the type of tenant I'm going to get? What's my return? And versus what I get maybe higher price appreciation with a property that has land. But of course, then you have to look after the place, There's a lot of property management issues, less so than in a condo, where it's just peace of mind. It's being run by the condo Corporation. And there's less fuss about managing that.

[KEN]:

Yeah, exactly. So I don't know, you know, because our recording actually got cut off for the audience out there, we had to do this again, halfway through the thing. So we're not sure where we left off. But I know that we talked about having a one bedroom or sorry, condo is a lot less maintenance versus a house. I mean, although you could budget in, you shouldn't be budgeting the price of property management into it. So that you're factoring that cost into the model doesn't work without property management, it shouldn't work for you at all. Otherwise, you're just creating yourself a job, it’s not an investment.

[CHARLES]:

Right. And some people would say route, kind of a rule of thumb for freehold property is 1% of the value, annually. Would you subsidize it? Yeah. Would you subscribe to that?

[KEN]:

Yeah, I wouldn't subscribe to that because there's so many variables into it. I mean, a new home is not gonna have a lot less maintenance than a new one, right. Right. So It really depends on the components, the specific components as replace and repair and kind of do your due diligence as you're going to buy it, right?

Anyway, I think we also talked about what a one bedroom condo appreciate fashion and a two bedroom condo, and what should you buy? Right? We missed that comment. I think that got cut off. Right?

[CHARLES]:

It did get cut off. And we talked to both you an average of one bedroom downtown was about $2,400. And we talked about how a two bedroom will be about $3,500. But once again, we're back to the math on how if you're a couple, you need a bit more space, You want to go for the two bedroom, and then split down the middle that's $1,750 versus someone going solo and renting that place after $2,400 in a one bedroom?

[KEN]:

Yeah, for sure. So you could get more disposable income, so that the tenants would have more disposable income, which is great. Now there's situations where not everyone's a couple, right? You were talking about right? Joint and severably liable for the for the lease. So that is if you're going there with a roommate and one person decides to leave, Who's in charge of the household taken over?

[CHARLES]:

Right? Well, obviously to protect, you know, our clients, it's about writing the lease properly. So that those two people renting the place tenants understand that if one of them leaves, then the other one is still on the lease and has to pay the rent and full.

[KEN]:

Yeah, I totally agree. And, you know, Funny enough, the landlord tenant board doesn't say, they don't have any legislation against roommates. Right. And I mean, it's it's such a case by case basis, more of a civil basis, that they don't have any jurisdiction over roommates. Anyway, we were talking about how, in New York, it's kind of common to use the vocabulary of saying “roommates”, right, not even just “renting” or even “owning” for that matter. Forget to put that all together. But, you know, a lot of people say in their vocabulary, you know, “my rent is so and so”. But more so they added my roommate is so and so. Right, which is pretty unique, because I pretty interesting story. That's where I think Toronto is heading. And you were mentioning all the employment not suffering tough.

[CHARLES]:

Sure, sure. And we know that all the office space has been built and continues to be built in downtown Toronto. And with these technology, companies like Microsoft relocating from Mississauga to downtown, CNBC, housing 15,000 people in those towers by the Scotiabank Arena, because they know that the people that want to work for them, One of the attractions is to live in downtown Toronto. And certainly that's not only the amenities, but being close to all the great restaurants and events that are happening. And that's what makes it attractive. And what we're finding is, as these new buildings come online, there's a demand for these buildings to be up to be occupied, and the vacancy rates are still low, and the inventory gets sucked up, if you will, as soon as it comes on market.

[KEN]:

Yeah, I agree that. So We also talked about one of the things about the benefits of being in a condo is that you're closer to the action really closer to downtown, because you're not necessarily going to have all those amenities in the suburbs where an affordable houses and affordable rental is, right. Right, right. And we're also talking about the potential of building something as a strategy for investing, right. So you, if you're part of a development place, say that you buy a multi unit that eventually can be gobbled up, or even any kind of free world for that matter. And you can be gobbled up by the neighbouring parcels to kind of join them up together to create a roadmap. But realistically, you have to have that in mind. Because if you're going to buy something in the suburbs, and you're going to acquire two or three of your neighbours, and you try to build, you know, they're not gonna let you the city's not gonna let you build a big giant apartment building in the suburbs. But if you have a main street with you know, me likely commercial downstairs on a main artery, then you might get those approvals. So you kind of have that that with the goal in mind is an exit strategy.

[CHARLES]:

For sure. And, you know, obviously, the complications or the additional duties that are required to manage a property with one or two tenants in a condo versus a multiplex.

[KEN]:

Yeah, that's a, that's a big thing. I mean, I guess, one thing I should say is that, when you have a small multifamily property, you're a little bit more limited, and who you're going to sell it to, you're going to sell to sophisticated investor, or a family that wants a living there, Assuming the tenants in the basement or and you have to get all the tenants out, whether it's the purchaser doing it with the seller doing it, Somebody's going to get all the tenants out to you know, to stage it, to clean it up, to show it well to have access for showings and all that kind of stuff. So you can get on the market properly. Right. So that's also a consideration, you might be waiting a long time for the remaining tenants to leave and be vacant.

[CHARLES]:

Right? And I just want to point out, Ken, just the concept of buying a property and living in and renting out a basement or an apartment or what have you in the home. That's not a new concept. And It's not I know that my family when they immigrated to to Canada, Their first house who included an extra apartment, and they would live in one part of the house and rented out and we know that that's what people aren't doing as well. So it's not a new concept.

[KEN]:

No, you're right. Yeah, certainly isn't a new concept. But different though, is that the Toronto see they've changed it sorry, not trying to Ontario, for that matter, because of the need for affordable housing and second suites. They allowed zoning for all to have second suites as long as it needs building code and fire code. So the stock of housing supply has increased, potentially by double, but still not enough for the the pace of growth that we're growing in the city. That being said, Yes, I think having a basement suite for those deciding to supplement their income or have some tenant pay a portion of the mortgage off is great way to invest.

[CHARLES]:

Right. And I know of a person who's done that, and they couldn't be happier because they move out from a condo, They need extra space, they're having children. And of course, I think we know that, you know, larger condos, can get up there and price. And as well, the maintenance fees. So they look at the option of moving into a home with income potential to help them bridge that gap.

[KEN]:

For sure. And that's that makes the house definitely more valuable. So On that note, so the good thing about investing into a freedom is that the the potential of increasing the value of to create more income for the investment, I think is a good benefit.

[CHARLES]:

Yeah, it definitely provides more options. Now those options will could cost money, and more time to make those changes. But it definitely have more options than you would within a condo. But there's nothing wrong with owning an investment condo and having passive income. It's managed. You don't you don't have to look after it. And you move on.

[KEN]:

For sure. For sure. That's that's definitely a good attraction for condos. And why most people buy condos is because of the price point the the ease of it they the bigger market size, I guess it's a lower price point. So they're easier to be more commoditized, I guess you could say.

[CHARLES]:

Right. And thank God for condo investors in Toronto. Otherwise, all this stock would not have been built.

[KEN]:

Correct. And the city would have grown. Yeah, for sure. For Sure. That's that's actually a really good point. That being said, If you know we own several condos, ourselves, and I don't think there's anything wrong with condiment, I love controversy, it's a great way to build equity. Can I ask you, would you rather trade up? Two condos for three condos for a freehold?

[CHARLES]:

Well, that's that topic of today. I guess it kind of dovetails to what we've been talking about this afternoon can which is you'd have to, we have to do the math and figure out over time, price appreciation. We know for sure, It's going to take more time of your resources. So if you really value your time, I think getting into a multiplex means bigger, a bigger issue more problems and money required to manage those. Not that I would dissuade anybody from doing it. So I think it's always about being well informed about the pros and cons, this we've been talking about, for sure.

[KEN]:

And I know we've been interrupted number times, so I apologize for that. But I guess we also talked about building in the price of a property manager. So if you have a good property manager, they are able to take those headaches away from you for a fee, obviously. But of course, if you build it into your cost, then it's possible. So it can still be passive, and you still can get the other ways to exit the the investment or other kind of benefits of owning property, not just increased rents. It'll be through other avenues.

[CHARLES]:

Right. So and we're getting back to the whole location. You wants three condos in downtown Toronto, and a multiplex say in the suburbs? I think goes that's a different equation.

[KEN]:

Yeah. I don't know about the summers but multiplies downtown or closer to the city, maybe jumping up one tier of, I guess from A, B, C to D, I guess joined down one rank would be okay, but not going down to rank. So that makes sense. But from A to B to C, right. From A to B? Yeah, that's okay. I wouldn't mind. I'd probably do that. And I guess it's every every property is case by case every situation is different.

So I think the summary at the end of day is just get started.

[CHARLES]:

No question about it.

[KEN]:

The only way to do it. I think if you have a small condo, that's more commoditized, you can start If you don't own anything now, buy one of those things, buy two of them, buy three of them, let it grow and let it like plant that seed and let it grow like a little flower.

[CHARLES]:

Right. And then it provides you with options Above multiplexes as a result of taking that initial step.

[KEN]:

You can take those budding things of the flower and trade into turn into a tree and all that kind of stuff. That's it. I guess. Just get started.

[CHARLES]:

Get Started.

[KEN]:

All right, Charlie, good talking to you today. Thanks. Thanks for joining me on this podcast. And I guess we'll talk soon. Thank you.

[OUTRO]:

Well, I really hope you enjoyed that episode, and we've given you some food for thought. If you're interested in learning more, please visit www.BroadviewAvenue.ca and click for an appointment for a quick 15 minute phone call. We look forward to talking to you about your real estate investment journey. And thanks for listening.

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Episode 010: Join us as we talk with Jonathan Mahan of Bomb Bomb for tips on using video to tell your story and for communicating effectively.

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Episode 009: Join your hosts Kenneth Yim and Donny Mangos as we talk about the ins and outs of condo vs triplex investing.

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Boardwalk Talks Episode 008: Join your hosts Kenneth Yim and Jonathan Wong as we talk about whether this is the right time for you to jump in to a real estate investment.

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Boardwalk Talks Episode 007: Join your host Kenneth Yim as we talk about eight reasons to invest in real estate, and why we like it over any other asset class in the world.

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Boardwalk Talks Episode 006: Join your hosts Kenneth Yim and Charles Messina as we talk about the Toronto real estate market update.

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Boardwalk Talks Episode 005: Join your hosts Kenneth Yim and Charles Messina as we talk about real estate investments.

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Boardwalk Talks Episode 004: Join your hosts Kenneth Yim and Jonathan Wong as we talk about why it's so important to have landlord's insurance and what the difference between tenant's insurance is.

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Boardwalk Talks Episode 003: In this week's episode, we talk about where we would choose to allocate $100k in real estate.

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Boardwalk Talks Episode 002: In this week's episode, we talk with our special guest Ryan Dennahower of Bespoke Mortgage Group about different methods you can use to fund your real estate investments, how you can invest in private mortgages, and who uses them.

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Boardwalk Talks Episode 001: Join your hosts Kenneth Yim and Jonathan Wong of The Monopoly Group Toronto for their very first podcast episode. They talk about the four different ways you can make money in real estate investing. They explain the concept The Monopoly Group, and why they exist.

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