Hello Real Estate Investors in Hamilton Ontario!!
Yesterday, while having a Tim Hortonâ€™s green tea with Carlo, who is a successful entrepreneur and investor, he was complaining about having low energy and being sick often and having trouble focusing on his business of real estate investing.Â After rehashing his weekend activities of a cousinâ€™s birthday, not getting to bed till 3am, turning 30 recently, I advised him his energy levels are all downhill from this point and him spending top dollar on quality foods and supplements (which he does) will not overcome his poor lifestyle habits.Â My other advice was for Carlo to immediately listen to my interview with Julie Broad where the best selling author and young millionaire real estate investor shared several of her habits and daily routines on her way to amassing her fairly large real estate portfolio.Â Carlo did listen to the podcast and I hope you all reading this do the same and practiceÂ success habits every day.
Stay tuned for our next episode of the Truth About Real Estate Investing when we interview best selling author, founding partner of the Real Estate Investment Network, and keynote speaker Don R Campbell!!!Â Whoâ€™s super excited?! I AM!!!
BUDGET 2016â€”BILLED AS â€˜GROWING THE MIDDLE CLASSâ€™
At least the budget did NOT change the capital gains tax as was rumoured and there’s nothing in the housing budget to tighten credit lending on real estate.
“Current fiscal year budget deficit is forecast to come in at just shy of $30 billion ($29.4 billion, to be exact) and to fall only a bit next year (to $29.0 billion), nearly three times the size of deficit promised during the election campaignâ€
â€œThere is no estimate of when the federal budget will be balancedâ€
â€œDespite these large deficits, the federal debt-to-GDP ratioâ€“while rising in the fiscal year (FY) that begins April 1 from 31.2% to 32.5%â€“will fall over each of the next five years to end FY 2020-21 at 30.9%. Canada has the lowest debt-to-GDP ratio by far in the G7, so no worries here. With interest rates so low, debt servicing costs have dropped sharply.â€
This new reality and acceptance of indebtedness is interesting to me as we are living through a period of history where our government spends/invests at great expense while our economy, thanks to oil prices, has contracted.Â The G7 are doing the same as that is the formula for how countries extend periods of economics prosperity, but there will be a time to repay the debt or default.Â And without oil exports, I have trouble seeing where the funds will come from to support the budget let alone pay down any debt.Â As Iâ€™ve been saying for many years, now is more important than ever to earn more income and save more money.Â For my wife and I, thatâ€™s now included investing in some gold and silver.
In more local news, HSR (Hamilton Street and Rail, our local public transportation provider) opened a new bus terminal at Mohawk College and conveniently with 800 meters of my sonâ€™s new house!! Itâ€™s good to be lucky. 😉
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin Szeto |Â MrHamilton.ca
Rock Star Real Estate Inc., Brokerage
PS:Â If you are just starting out investing, start byÂ spending more time with like minded people and take guided tour of Hamilton by joining us for the next Mr. Hamilton Inner Circle by clicking here!!!