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The Truth About Real Estate Investing... for Canadians

For Canadians by Canadians sharing the truths about generating wealth through real estate investing. This show is about getting rich slowly, investing is a marathon, no get rich quick methods will be discussed here hosted by award winning investor and three time Realtor of the Year Erwin Szeto aka Mr. Hamilton
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Now displaying: July, 2017
Jul 25, 2017
For anyone with a small to medium sized business including real estate investors who invest using corporations, you’re probably as disappointed as I am in Minister Morneau’s proposed changes to the tax benefits we small business work so hard to earn.  Here’s a great one line summary of the proposal: "income taxes are highly unfavourable to business owners and investors who, unlike consumers, pay tax twice: once when they earn their income and a second time after they invest it and pay taxes on the returns.” “These measures, contrary to much of the news coverage, aren’t just targeted at the “rich” but will also hit middle-class business owners, are expected to increase federal taxes by $250 million, and provincial revenues by roughly another half of that. This is just one more way to discourage entrepreneurship, on top of all the tax increases in the past two years. If the Republicans’ plan for tax reform happens in the U.S., even more young entrepreneurs will be looking to head south instead of here.“
source: http://business.financialpost.com/opinion/jack-mintz-morneaus-tax-changes-wont-just-hurt-the-rich-but-they-will-hurt-growth/wcm/ba296d67-6ba5-4866-969b-2a0c81541844
 
With these proposed new taxes going on, I caught up with real estate Accountant Cherry Chan, chartered professional Accountant.  She’s also a mom, a small business owner with employees and a real estate investor with several properties so she’s no different than you and I accept she knows a bit about tax and Accounting.  
 
In this episode, Cherry will talk about how why these changes are bad for your business and what you can do about it.
 
Without further ado, I present to you, real estate Accountant Cherry Chan.
 
For a more detailed summary on how what a real estate Accountant thinks of these changes, click here: http://realestatetaxtips.ca/tax-changes-entrepreneur/
 
For a FREE copy of Cherry’s book: COMPLETE TAXATION GUIDE TO CANADIAN REAL ESTATE INVESTING: HOW TO MAXIMIZE YOUR REAL ESTATE PORTFOLIO AND MINIMIZE TAX, click here: http://realestatetaxtips.ca/book/
 
Jul 10, 2017

This week, we’re doing something different, we do not have a guest but rather me!  My plan is to buy three houses this year and we just locked up the first of three and I’d like to detail for you the lead up to the purchase, how the purchase went, and where we are going with it.  If the listeners enjoy this episode, I’ll make a series of updates on how I invest. 

Just to let you know, we have a new website where we will be posting all new and old podcast episodes, show notes, contact info for our guests. The website is www.truthaboutrealestateinvesting.ca. Going forward, all our other websites will forward you to this website for simplicity.  If you’re a newer listener, I highly recommend you go back and listen to previous guests for lessons on investing and stories of inspiration.  Till next time, my name is Erwin Szeto, thank you for listening and happy real estate investing.

If you would like to hear more about my back story, you can listen to Russell Westcott's interview of me here: http://blog.reincanada.com/transitioning-into-full-time-real-estate

Announcing the Halton Real Estate Investors Club (coming soon: HaltonREI.ca)

if you’re from the Toronto area, especially west of the city and are interested in learning more about investing in real estate, I am happy to announce that coming soon is the Halton real estate investors club this September 2017. This will be the best place to rub elbows with successful real estate investors that can help you.  I know more self made millionaires through real estate than any other job or asset class so you’ll want to be part of the club.  As the saying goes, birds of a feather flock together.  The Halton REI will be hosted by yours truly, Erwin aka Mr. Hamilton Szeto.  I have been hosting networking meetings for over three years and we’re simply growing and making our wonderful group open to more investors so we may help more people.  As always, we will host a guest speaker or two, provide economic updates and market updates on income property prices and rents, mortgage updates, lessons from the streets so you may learn tactics and strategies you can apply tomorrow to your own portfolio.
 
Who should attend? Anyone interested in learning more about investing in real estate
Why should you attend? If you’re like anyone I know you want to retire early, retire your wife or husband, pay for your kids University, support your favourite charities, the list goes on and on.
 
So stay tuned, I’ll update you all once we have complete details.

 

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