You're invited to a Condo Release VIP Party - sort of.

There’s a new kid coming to town Feb 4th and I couldn’t be more excited.  It’s the pre-release party for the Bay Condos at 1000 Bay St.  This neighborhood has so many memories for me.    Who can forget the early days of the Toronto Film Festival when all the stars use to dine at the 990 Bistro?  I once lined up for hours to get Arnold Schwarzenegger’s autograph. 

This is a new Condo project from Cresford Development Corporation who is no stranger to projects in the city of Toronto.  One of the projects I loved was 35 Charles St. “Casa” condos.   This new project will be a total of 400 units on 32 storeys.  The Architect is architectsAlliance who are also popular on the Toronto scene.  This project will offer 24- hour concierge, workout facilities, a Yoga Studio, Media, Billiards, Games and Party room complete with Kitchen Facilities.  It will also have a signature Rooftop Terrace.   

Next weekend is the pre-release where you will be able to buy at the lower price.  After this the good units are sure to be gone and the prices go up.  If you’re interested in going let me know and I’ll make the arrangements.  It’s a process so don’t wait too long before getting back to me.  

Rules for real estate investing

With interest rates sitting at record lows, it's never been more affordable to add a rental property to your investment portfolio. But is becoming a landlord right for you? 

1. Are you entrepreneurial-minded?
While buying a rental property may seem like straight-forward endeavour, it is, in essence, a form of self-employment. As such, you will have to be able to do the math (to ensure your investment is profitable), know the tax implications, acquire appropriate tenants, and hire the right property manager (or manage the maintenance issues yourself). A lot more work than simply finding a tenant and collecting the rent!
2. Does it make financial sense?
In order for a rental property to be profitable, you have to make sure that it will generate a steady monthly income - after mortgage and operating costs - and eventually appreciate in value. That means buying in an expensive market like Toronto or Vancouver may not make as much sense as a smaller market such as Kitchener, Ontario where property costs are lower. The key is to look for an area that has increasing job and population growth.
3. Is it the right time to buy?
If you're approaching retirement, an investment property may not be the best option for you. The same holds true if you're just scraping by - and if your property will start losing money should interest rates rise. As with all real estate, you should view investment properties as long-term investments - giving them plenty of time to appreciate in value, and less vulnerable to interest rate hikes. To find out if now is the right time to by, it's worth talking your decision over with me, or your financial advisor.

New Years Resolutions? There's an app for that.

Well, 2012 is finally here - and that means a new set of New Year's resolutions have likely begun. If you're the type of person who has trouble sticking to their goals, you may want to check out the following apps for the most difficult of resolutions. That is, if you haven't broken them yet!

Quit Smoking
My quit coach
This app helps you quit smoking by helping you establish an attainable quitting plan with weekly goals tapered to your needs.
http://itunes.apple.com/ca/app/livestrong-myquit-coach-dare/id383122255?mt=8
Lose weight
Nike Plus
The Nike Plus app uses GPS technology to track your runs and progress. It also links to your Facebook account, so every time a friend "likes" your status, you hear cheers throughout your run!
 http://itunes.apple.com/ca/app/nike-gps/id387771637?mt=8
Saving Money
Mint
Listed as one of Time magazine's 50 Best iPhone Apps of 2011, this app helps you keep track of your finances, budgets, bills and bank accounts on the go.
http://itunes.apple.com/ca/app/mint.com-personal-finance/id300238550?mt=8
Everything else...
 Resolutions 2012
This app allows you to input your specific New Year's resolutions, and helps you create habits that need to be adopted for you to attain these resolutions.
 http://itunes.apple.com/ca/app/id470395820?s=143455