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Looking to sell in North Vancouver

Q: I currently own a condo in North Vancouver. I’m looking at selling my condo and buying a building in Edmonton or Calgary that would create a cash positive situation through rentals.

I know that the appreciation here would be greater; however, with that comes a huge mortgage. Do you think this is a sound move? Also, are those areas a good to purchase in?

A: It would depend on how attached you are to your current condo, how much you are getting for it and what you would like to accomplish long term.

Depending on how old you are, extra cash for you and your family (passive income) can sometimes be the very best decision. As far as investing in Edmonton and Calgary, they are well situated cities with strong fundamentals. However, you are not buying the city, you are buying “the deal.” Research, research, research and do not buy long distance -go there.

About Ozzie Jurock

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd. Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock's Facts by Email.

Comment ( 1 )

  1. you mentioned in your article recently that canadians may save a bunch of tax
    living in usa if over 50 and a proposed bill passes in the usa congress
    How can you save tax? if your not allowed to work where are the tax savings
    thanks ron

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