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Yes, and with all your emphasis on professionalism and licensing you must have been 100% behind landlord licensing when it was proposed.
 

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On the news hour today they are saying the brief buyers market is already drying up. One lady looking for a home since the summer said that about 80% of the homes on her want list are already sold.

Despite this I would still think we should have some sort of correction but you never know with a market people always want to get into. I also don't see all that much speculation around except maybe with condos but even there a lot of the buying has come from the deep pockets of asian investors.

The asian investors stick to the good areas like West Richmond and Vancouver and will not generally buy in areas that are cheaper even at half the price. This market is unlike anything else in Canada and the majority of Canadians and I am one of them can't participate in this market unless you are already in the market.
 

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Yes, and with all your emphasis on professionalism and licensing you must have been 100% behind landlord licensing when it was proposed.
What are you going on about now??

I am for professionals I hire being educated, experienced, and licensed.

Being licensed for your job not only tells me you are legally allowed to do your job(!), it tells me you respect yourself, your profession, and your clients. For example, if you are a "landlord rescuer" you need to be licensed to appear before the Landlord and Tenant Board. If you are not, it shows me that you are either dishonest or simply can't pass those darn nasty tests you need to take.

I look beyond someone's own personal "sales hype" telling me how great they are. Even if they have a $9.99 blog of their own telling me how great they are as they try to snatch unsuspecting clients ;)

In real estate we are dealing with large sums of money. It's important to learn as much as you can and to hire the best and to learn from the best.

I always warn people to avoid getting scammed by unlicensed used car salespeople who invite you to their 'carnival' of self-hype and seeking quick "gotcha type sales." These types usually get very angry when their sales pitches are called by those who know what they are up to.
 

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What are you going on about now??

I am for professionals I hire being educated, experienced, and licensed.

Being licensed for your job not only tells me you are legally allowed to do your job(!), it tells me you respect yourself, your profession, and your clients. For example, if you are a "landlord rescuer" you need to be licensed to appear before the Landlord and Tenant Board. If you are not, it shows me that you are either dishonest or simply can't pass those darn nasty tests you need to take.

I look beyond someone's own personal "sales hype" telling me how great they are. Even if they have a $9.99 blog of their own telling me how great they are as they try to snatch unsuspecting clients ;)

In real estate we are dealing with large sums of money. It's important to learn as much as you can and to hire the best and to learn from the best.

I always warn people to avoid getting scammed by unlicensed used car salespeople who invite you to their 'carnival' of self-hype and seeking quick "gotcha type sales." These types usually get very angry when their sales pitches are called by those who know what they are up to.
I would offer a word of caution. Just because someone has a license to practice a certain occupation does not guarantee that they will respect their profession or their clients.

And just because someone does not have a license does not mean that they are uneducated or inexperienced.

I would recommend an individual doing their due diligence prior to hiring a RE contractor, mechanic or lawyer.

In regards to you looking beyond someones 'sales hype'. I have seen no sales hype on this website. I do however have difficulty in looking past your intentions to discredit and dishonor another individual on this site. Especially and individual who I feel is a contributor with the intention of helping other forum members.

We get it...you will respond saying you want to make sure everyone hires a professional, and that they should get the best professional out there for their RE business. That is an answer that you feel is safe and non accusatory of other members.

Not everyone hires a RE agent, for sale by owner. Not everyone takes their car to a licensed mechanic for repairs. They know the mechanic is not licensed. They are ok with that.

Now, unless you are accusing anyone of misrepresenting themselves. We get your opinion. Drop it. I can only speak for myself (and I guess the other member who has stated that he is going to ignore all of your posts) but your presence on this site has not seemed to contribute much at all.

Again your opinion has been stated several times on this site for others to read, it does not need to be restated over and over again.

Thank You and good day.
 

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Yes, and with all your emphasis on professionalism and licensing you must have been 100% behind landlord licensing when it was proposed.
This is an unecessary comment. It is tantamount to "baiting".

Come on people. grow up. Be nice. Especially to newcomers! Otherwise the site will develop a reputation as an insiders clique.
 

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This is an unecessary comment. It is tantamount to "baiting".

Come on people. grow up. Be nice. Especially to newcomers! Otherwise the site will develop a reputation as an insiders clique.
Thank you.

Berubeland views these websites as her own personal stomping grounds. As soon as she is challenged, she goes off on fits and has a melt-down.

I don't apologize if my comments have influenced her attempts to 'pick up' customers for her business.

Now back on topic: I think these forums have great potential and I won't be shy in providing my ideas based on my decades in the real estate business. I hope that we can all feel free to debate without having stones thrown at us.
 

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Discussion Starter #10
Property Managers don't have to be licensed, people who rent residential properties don't have to be licensed. I did though go to a 2 year course in Property Management and graduated with honours in 1994. Incidentally I also won the only scholarship for top student.

I don't have to be licensed to go to the Landlord & Tenant Board if I work for a corporation. Which I was until March 15th of this year in South Oshawa until the building was sold.

I was even pinch hitting for a paralegal for a while when his cases conflicted. He was called in to help me when I got sued personally by a tenant. Its impossible to be a witness and the representative at the same time. He then asked me to help him out and I agreed.

I don't have to be licensed to go to the Landlord & Tenant Board with the landlord as a "friend of the court" on the very rare instances when I rent to a bad tenant. This year...0 last year 1 case.

I don't need to offer this insurance to landlords, that if I make a mistake I will do everything I can to rectify the situation. Which I do not get paid extra for. Which real estate agents don't do even thought they are licensed and also exempt from the requirements. This is an ethical choice, I figure if I put them in, I should throw them out too. I also rerent the place again for free if they move out before the lease is up.

I have spent an awful lot of time at the landlord & tenant board and keep up to date on the law. Yesterday I attended the Canadian Apartment Investment Conference. (Which just happens to be an accredited course for both RE agents and mortgage agents) Landlord & Tenant Law was a major point of several discussions by property managers. We all have to know the law.

I also want to point out that the major hurdle to becoming a landlord is accumulating the funds to buy a property. After that you can be absolutely horrible and do all kinds of illegal acts and no one will take your property away from you. You can just rent it to someone else.

Bad property managers get fired and don't get rehired. I have made my living in this industry for years, mostly working in very active management environments of high vacancy. Not only that our results are compared to other buildings for vacancy, for churn, for operational expenses. I am still chugging along and surviving after years, learning as much as I can and doing my absolute best to keep small landlords out of trouble. I give away as much free information as I can, I give away free leases, free applications, free cap rate spreadsheets, free advice and even emotional support for landlords dealing with difficult evictions.

I have had a few people approach me about going to the Landlord & Tenant Board, even one from this board. She even offered to pay me and I told her I couldn't legally go because I am not a paralegal, nor have I ever claimed to be ever. I get calls all the time and even at times talk the landlord through filling out an N-4 and forms required. Again...for free.

I originally had the idea to help small landlords and start my business, in the Sheriff's office, when I met a landlord who had learned that her tenant had left the apartment, but went through the entire eviction process, even thought she knew the tenant had left because the information line told her to. She didn't know enough to give a 24 hour notice of inspection and find the apartment abandoned. Instead she flew back and forth from Ottawa to serve notices and attend the hearing and then finally until she met me at the sheriff's office. I saved her $330 - 380 in enforcement costs that day.

Then I decided to start my business to help small landlords, to bring to them the processes I had learned working for corporate landlords, from applications, to qualifying the tenant, to presenting suitable properties and so on and so forth.

You can attack me, my business and my professionalism all you like. You will never get me to sit by and say nothing while you spread the myth of evil Tenant Duty Counsel without proof to people who don't know any better. I have never seen the kind of behaviour at any Landlord & Tenant Board, not Mississauga/Brampton, not Toronto South, not Toronto North, Toronto East, or the Whitby/Oshawa Board either. Do you really think you're the first person I've asked for proof about this? Or even an observation that they had experienced this or seen it? I just want to hear when and where. Do I monitor every single Board office every single second of every day? Of course not.

I get it and everyone here pretty much gets that you think I'm unprofessional and horrible and all that. When you reply to a thread that cites a website that I thought might be of interest to the people here, some of whom use Technical Analysis in their stock picking, which was quite originally applied to the real estate market, you may refrain from continuing to try to emphasize that I am somehow inept, need to be licensed and so on. If I am wrong, feel free to correct what I am saying, I am always willing to learn, but you'll have to produce more than rumors to back up your correction.

Oh and you didn't answer the question about if you approve of landlord licensing or not. I'm guessing that just applies to the people you'd like to discredit and prevent from getting business and used car salesman but not yourself.
 

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I would actually like to hear what you think about what I said more to your topic instead of all the other stuff going on here berubeland and company. It may be that downtown Toronto has the same disconnect from other real estate for normal Canadians like Vancouver has.
 

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Discussion Starter #13
Sorry there Dogcom,

This is the Sept 15th news release from CREA with my notes in Italics.

Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards in August rose 4.1 per cent from the previous month. This marks the first monthly increase since March 2010.

But sales last month were down 35% from the previous month, so from July the market is down 31% for sales

Activity was up most in Ontario and British Columbia, with monthly gains in these two provinces accounting for most of the improvement in national sales activity in August. Seasonally adjusted sales activity either increased or remained stable in over half of all local markets across Canada.

Year-to-date transactions are up 2.2 per cent compared to the first eight months of last year. Activity rose sharply over the second half of 2009 and reached levels that are unlikely to be matched in the final four months of 2010, so year-to-date comparisons are forecast to turn down in the coming months.

My official guess/prediction is that by December we'll reach 10% reduction in price year over year. Many buyers like you've stated are priced out. Many first time buyers have to come up with 5% down. Real estate investors have to both come up with 20% down and qualify by income. The new CMHC rule is that 50% of the rent is added to your income for qualifying... but when you are buying additional properties your income is then further split using the Total Debt Service Ratio. So you only get to use about 20% of your rent on the property to qualify. If you are a high income earner, you'll be able to get a few mortgages but buying a lot of properties will be very difficult. (I learned that at the Durham REI Group) Having said that I learned at the Canadian Apartment Investment Conference that conventional lenders are back in the market (no CMHC insurance is required) so we'll see. Those are my thoughts :)
 

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I'm not a fan of technical investing for stocks - I think there is just too much randomness in the data.

I never thought of using TA for real estate. One problem I can think of is that you can only really analyze data from the market as a whole - and then apply it to a single house purchase/sale. Normally for stock TA you would look at the price changes for an individual stock with the idea of buying/selling that stock.
 

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Discussion Starter #17
From the website '**** my dad says':

"Don’t focus on the one guy who hates you. You don’t go to the park and set your picnic down next to the only pile of dog ****."

I'm ignoring him now, lets hope I can keep it up. :confused: I apologize for disturbing the site.
 

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Thanks for your reply berubeland and I agree with your comments. I also wonder if you think there really has been a speculative frenzy in real estate as many suggest. I simply don't see it like we saw it in Vancouver in 1980 or Toronto in 1989. We are overpriced but not because everyone is jumping over each other to buy anything they can find to flip it.

On the TA I also don't see how it can be applied to real estate. In stocks you can sell the next day and then buy back in even on the same day as you see the TA you are using developing but you can't turn real estate around like that.
 

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Discussion Starter #19
Is there speculative frenzy?

Well kind of sort of.

Ok well, this are my observations. Landlords as a group tend to be very to frugal and conservative. There are many of my clients who are older, and many accidental landlords. For instance, one lady had a house, then her husband died and she didn't want to live in that house after a while, so she rented it out, she bought a new house, then her mom died and she got an inheritance and her mom's house. She bought herself a new house with the inheritance. Every once in a while she buys a house. The last one she bought she severed a lot and sold that.

Then there's lots of folks in the trades who have bought rental properties some to buy a job and flip and others just to buy and hold. They use their skills to keep the place in good shape.

The first thing I noticed about 7 years ago is that a lot of these people who had been long time landlords, cashed out, and or stopped buying properties to rent out. At the same time the tenant quality was going down as anyone with first and last and a job could just buy a house and not rent.

For these people it didn't make sense to buy a house for $400K and rent it out for $1400 -$1600 per month. There's no money in it and considerable risk of damage/expenses.

With the advent of Robert Kyosaki and his ilk of real estate gurus lots of really inexperienced and naive landlords who thought they could make a fortune by renting out to tenants who will pay your mortgage.

The mantra is positive cash flow... but if you don't include real expenses like management, vacancy and maintenance, you're hurting. That's not $100 per month. You end up with properties that are not sustainable without cash donations from the owner.

The rents have gone down since I've been in the business. Some areas have held steady...but expenses have gone up.

So basically anyone buying recently unless they bought at a proper price has been speculating on appreciation.

Then there's Brad Lamb's favourite customers the people who buy 50-100 pre-construction condos and rent/sell them once built. Basically I don't know any landlords who actually rent out condos for profit. I'm sure there are some, I just don't know any.

I guess overall the problem is that people have gotten away from the fundamentals of income property investment, that the rent is supposed to pay the landlord, to people just buying a house for slim to none or even negative cash flow hoping appreciation will make them rich.

How widespread is it? Well it hasn't been frenzied but it has slowly crept up on us. One thing for sure there's lots of landlords out there providing subsidized housing.
 

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This is better than Oprah. We should have a thread Berubeland vs. Scottlandlord
Yeah, but Scottlandlord actually owns rental properties and makes his (very nice) living off it, and has for decades.

While berubeland once rented her basement, for a short time, and is all over the free sites advertising her services to 'manage' places for a fee from actual investors.

And I really wish Rachelle would take the government mandated courses to actually become a qualified property manager. I'd even be willing to donate a few bucks to her to do so. We need qualified PROFESSIONALS in our industry and fewer hucksters with a $9.99 blogsite.
 
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