Dont Sell Your House--Ever!

Keeping your existing house when you buy a new one could be THE most profitable financial decision you could make. Consider the following:

1. Second stream of income: When you move to another place and keep your current house as a rental, this gives you an extra stream of income.

2. Pay less tax: Your rental property produces business income. When you have a business, you are entitled to tax write-offs. This could save you a lot of money that you would normally pay to CCRA (Revenue Canada).

3. Fast wealth: Tenants will pay off your mortgage in a rental property. Your net-worth will grow without you having to save out of your own income. When you have one or more tenants there is a team effort in building your wealth, fast!

4. Bargain priced: You will never again be able to buy the same type of property for the amount you paid for it originally. The value of all the other houses have gone up along with yours. You already own what an investor would consider a bargain in the current market.

5. High rate of return: The rent you can charge for your house is based on the current market. Rents have gone up but the cost of your house is still what you originally paid for it. You are getting a higher return on investment. In the current market you would have to spend a lot more to get the same rental income.

6. Guaranteed income: If you are willing to make some small changes to your house so it meets the standards required for disabled people, you will have a long list of potential tenants waiting for you. In many cases, some government agency will be paying their rent. You will get a good, stable, low-maintenance tenant. You will also be helping someone in need. If you need money for the renovations, you can re-finance as much as 90% to 100% of the market value of your house. Government grants may also be available.

7. Increased tax write-offs: In most cases, you can write off the interest paid on the mortgage of a rental property. If you keep the mortgage as high as possible, you maximize the tax write-offs.

8. Pay off your own home faster: Keep the mortgage on the rental property as high as possible by re-financing to the max as the value goes up. Use that equity to pay off the home you live in, faster.

9. Tax-free retirement income: After your house is paid off quickly by using the equity in the rental property, you may be able to use the refinanced cash as a tax-free retirement income. Borrowed money may or may not be taxable. Check with your accountant.

10. Gain freedom from the slavery of a J.O.B.: It takes far less time to maintain rental properties than the amount of time you would spend in a job. If you build up your portfolio of rental properties to 5 or 10 and pay them off (or keep refinancing), you will have as much or more income than your present job. You can be your own boss, work only a few hours, spend time with your family, and really enjoy your life.

These strategies will not work for everyone. Before you implement your plans, check with an accountant, lawyer, mortgage broker or other professional. You may need to work with someone. Use your children, parents, brothers, sisters, good friends as a co-signer or co-investor. Grow wealthy together, with the people you love.

To qualify for the lowest mortgage rate in Canada, go to http://www.mortgage-rate-canada.com and click on Canadian "Mortgage Calculators". Check out the "Pre-Approvals" and "Credit Problems" pages to get the banker's perspective on your credit profile.

For ideas on how to set up a reliable monthly income from rental properties when you have very little time or money go to: http://www.netman-ecommerce-guru.com/rental-strategies

Warm Regards,

Neeraj Varma

About The Author

Get the inside scoop on what it takes to qualify for the lowest mortgage rates in Canada - (http://www.mortgage-rate-canada.com). For personal service apply online.

---

Are Condo Hotels What the Orlando Real Estate Investor Has Been Looking For?

Earlier this year the Hawthorn suites in Lake Buena Vista... Read More

Where To Start In Looking For A Central Illinois Realtor

Central Illinois is an excellent location for families and businesses.... Read More

Property Investing Secrets 7

Property Investing Secrets:How Buying Real Estate Is Like Planning a... Read More

The 5 Biggest Mistakes Made When Getting A Business Appraised

Most business owners will, at some point, want or need... Read More

Real Estate Investing Deals That SkyRocket Your Net Worth 10-Fold

Consider these parameters for a real estate deal:Property Value: $250,000... Read More

Want To Be Profitable In This Real Estate Bubble? I?ll Show You How In Just Three Easy Steps

STEP#1. First you have to recognize that in order to... Read More

Be A Realtor With Curb Appeal

Are you a realtor with curb appeal or are you... Read More

Building A Home? Want To Ask A Builder The Right Questions - Not The Dumb Ones!

These are real builder questions that I got from readers... Read More

Building Your Dream Home - Part 1

For most of my adult life I had thought about... Read More

Lake Havasu Real Estate

Lake Havasu real estate is a hot commodity. With surrounding... Read More

Law & Logic of Homeowner Association Capital Reserves

In October 1999, Oregon was one of the first states... Read More

On the Crossing of Continents

Cyprus is situated in the north-east Mediterranean on the crossing... Read More

3 Strategies For Buying Property With No Money Down

Everyone has heard a story or read about someone who... Read More

Whats This about a Housing Bubble?

In his recent testimony, Alan Greenspan warned against the possiblity... Read More

Real Estate for Beginners: Residential Property Taxes

Whenever you own a piece of land, you will be... Read More

U.S. Real Estate Sought By Foreign Investors Due to a Weaker Dollar

The weak US dollar has been good news for real... Read More

Mortgage Broker Training: How to Secure Loyalty From Realtors

So you've just returned to your office after delivering an... Read More

Mancos Real Estate

Real estate: availability and costIn 2000, the median home value... Read More

The Psyche of The Seller and The Tenant Buyer

For those of you who were not psychology majors the... Read More

Dont Overpay for a House, Even in Todays Market

If there's one thing American investors love, it's an over-inflated... Read More

Homebuyer Heaven Can?t Possibly Last

With interest rates at record lows over the past year,... Read More

Greed Can Cost You Your Shirt!

The proper action when things are going well is to... Read More

Ten Steps for Becoming a Successful Real Estate Investor

The secret to success in real estate investment is finding... Read More

An Often Overlooked Secret of Marketing and Negotiating for Real Estate Investors Looking for Deals

When you call sellers, what do you say? When you... Read More

Selling Houses Fast: Basics of Design & Color Psychology

Fixing up houses to ready them for sale includes a... Read More

Buying A Holiday Home in Rural Ireland

Ireland has recently witnessed an upsurge in the number of... Read More

Working With Your Real Estate Attorney

Purchasing or selling a home will probably be one of... Read More

Refinancing Your Home Loan? When Should You Refinance Your Home?

If you have a current mortgage and are unhappy with... Read More

Buying an Unfinished Home Maybe Your Answer

For the first time "want-to-be" homeowner, purchasing an unfinished new... Read More

How Home Buyer Rebates Work

In today's tight housing market, many buyers are looking for... Read More

Advantages and Disadvantages to Selling a House on Your Own

As with any business transaction, there are pros and cons... Read More

Rehab Your Way to Wealth: The Quick Way to Fixer-Upper Success

Completely rebuilding a house is not necessary to make money... Read More

Investment Real Estate Secret: Buy a House Today, With No Money Down

If you've read my article "Purchasing Property With No Money... Read More