This is a comprehensive guide for first-time real estate investors, covering everything from initial goal-setting to executing investment strategies. Here are three key takeaways:

• Foundation is Critical: Start by setting clear goals and understanding your "why," then create a detailed business plan that will guide your investment journey.
• Build a Strong Network: Success in real estate investing requires a power team of professionals (mortgage agents, real estate agents, lawyers, etc.) and active networking to build relationships that provide opportunities.
• Focus and Execute: Pick a specific asset class and market to focus on, thoroughly analyze deals based on numbers, and stick to your chosen strategy rather than getting distracted.

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Is the Canadian dream of homeownership still alive? We break down the latest CMHC Mortgage Consumer Survey, revealing how first-time buyers are really getting into the market.

• First-time buyers now make up 12% of mortgages (up from 10%), with over half using co-buyers and receiving family gifts averaging $74,000 ($150,000 in Ontario/B.C.).
• 65% of first-time buyers are at their budget maximum, with fewer using savings for emergencies (50% vs. 78% last year).
• Most buyers remain optimistic: 80% see homes as good investments, and 74% expect values to rise next year.

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Total household debt in Canada has reached $2.55 trillion, with non-mortgage debt averaging $21,859 per consumer. The situation is particularly concerning in Ontario, where mortgage delinquency rates have increased by 71.5% year-over-year.

• A "mortgage renewal wall" is approaching, with about 60% of all outstanding mortgages coming up for renewal in the next couple of years, facing significantly higher interest rates (4-5% range compared to previous sub-2% rates).
• Nearly a third of mortgage renewers are using debt to pay off other debt, while younger borrowers and lower-income households are showing increasing signs of financial stress.
• Credit card spending has decreased to its lowest since March 2022, suggesting cautious consumer behavior, but payment rates are falling, especially among Canadians under 35.

Exchange-Traded Funds (ETFs) | BMO Global Asset Management

Buy & sell real estate with Ai at Valery.ca

Get a mortgage pre-approval with Owl Mortgage

See omnystudio.com/listener for privacy information.