Keeping Financially Healthy During Covid-19 with Maria Rekrut on All Things Real Estate, July 02, 2020 at 8:00 pm EST. Maria Rekrut is a long time real estate investor who has seen many ups and downs in the economy since 1982, when she started her first business and has always made “Lemonade out of Lemons”. https://youtu.be/BwwyD5f0154
Insider info: TD Bank is going to repo over 100,000 vehicles in Canada over the next 6 months. That is just 1 bank! No wonder BMO got out of the auto game. They are all staring at a complete shit show.
Bank of Montreal (BMO) is winding down its indirect retail auto finance business and shifting focus to other areas in a move that will result in an unspecified number of job losses, Canada’s third-largest bank said.
The bank, which announced the move on Saturday, has conducted this business in Canada and the United States. The move comes after BMO’s overall bad debt provisions rose to $492 million, compared with $136 million a year earlier, for the quarter ended July 31 in a sign of growing stress consumers face from a rapid rise in borrowing costs.
Under the indirect retail auto finance business, the bank works with car dealerships to arrange financing for buyers, who make monthly payments to the lender.
“By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest,” BMO said in a statement.
The bank is working closely with employees who will be affected by job cuts to provide support, it said.
In a letter sent to car dealers and seen by Reuters, the head of the business Paul Hunsley said the termination of the dealer agreement would be effective as of Sept. 15, but the bank would fund all contracts submitted and approved prior to the date.
At the end of July, BMO’s consumer installment and other personal loan portfolio stood at $104 billion, and included $54.7 billion in home equity loans.
The remaining loans in this portfolio are primarily auto loans, but also include other loans, including loans for boats, recreational vehicles and motorcycles, Edward Jones analyst James Shanahan said.
Delinquencies rising
The Bank of Canada’s data has shown that delinquency rates for vehicle loans are now higher than they were before the pandemic, highlighting the strain on consumers’ wallets as they also struggle to repay their mortgages in a high interest rate environment.
A rapid rise in interest rates is slowing the Canadian economy, and banks are setting aside more funds to deal with an expected pick up in bad loans.
No kidding, this is all so ridiculous All part of the WEF mandate. Our banks, governments and corporations are all part of this so called “conspiracy theory”. You’ll see what happens as we go toward 2025. Klaus Schwab says we will not recognize our world be 2025!! Pretty lofty prediction, wouldn’t you say???? I’ll probably do my radio show tomorrow on this very topic. Come and listen!!
BMO shutting down indirect retail auto finance business as bad debts mount
I am excited to announce that I will be launching a YouTube series and blog on My Landlord Bootcamp Series on: finding your next 5-star tenant in 2023-2024. Stay tuned for more information and helpful tips on how to choose the best tenant for your property.
As a landlord, finding the right tenant is crucial to avoiding payment issues. Maria Rekrut, a real estate expert, is launching a YouTube series and blog on finding your next 5-star tenant. Here are some tips to help you find the best tenant for your home:
Proper vetting is essential to avoid issues like non-payment. Conduct a thorough background check, including credit and criminal history, and verify employment and income.
Set clear rules and expectations for your tenants. Make sure they understand their responsibilities and obligations as tenants.
Be selective in choosing your tenants. Don’t rush to fill a vacancy with the first applicant who comes along. Take the time to find the right fit for your property.
Communicate effectively with your tenants. Establish a good relationship with them from the start, and be responsive to their needs and concerns.
Stay up-to-date on landlord-tenant laws and regulations in your area. This will help you avoid legal issues and protect your rights as a landlord.
Remember, as a landlord, you are responsible for finding the best tenant for your home. Taking the time to find the right fit can save you a lot of headaches and stress down the road.
Be sure to like, subscribe, and share my YouTube video with other landlords, who are having a hard time finding a great tenant. You’ll find the new produced series 2023-2024 on this channel: https://www.youtube.com/channel/UCpHBZZ1Pk5gvHcLL0AiDEbA
Maria is a seasoned and long time businesswoman, real estate investor, successful landlord and real estate investment coach and mentor who can provide you with personalized guidance and support as you build your real estate portfolio. Contact Maria Rekrut today to learn more about how you can unlock wealth using real estate for personal freedom.
Ontario landlord caught on video with large knife in tenant dispute https://www.msn.com/en-ca/news/canada/ontario-landlord-caught-on-video-with-large-knife-in-tenant-dispute/ar-AA1gCm7r?ocid=socialshare&pc=U591&cvid=235a51585cf046f89bceb1a8edabd731&ei=25
Real Wealth Real Estate Weekly Newsletter By Maria Rekrut – Sept 12, 2023
The Good, The Bad and The Ugly of Owning Real Estate in Ontario, Canada in 2023, can be summarized as follows:
THE GOOD:
Investing in a rental property in Ontario can be a smart financial move
Rental rates in Ontario are expected to rise in 2023
Rental investments are a significant driver of home prices in Ontario
Many investors can rest assured that their investments will be reasonably expected to perform for them.
THE BAD:
Landlords in Ontario are facing higher operating costs due to rising insurance rates, property taxes, and maintenance costs.
The Ipsos-Reid and Nanos Canadian Confidence Index show that Canadian consumer confidence has dropped significantly, and confidence in real estate values has weakened even further
The rent increase guidelines for Ontario in 2023 limit rent increases to a maximum of 2.5% on applicable properties.
THE UGLY:
Landlords who do not comply with the Residential Tenancies Act in Ontario may face legal consequences, including fines and penalties.
Tenants can file a complaint with the Landlord and Tenant Board if their landlord does not comply with the Act.
If the landlord does not comply with an order from the Board, they may face further legal action.
Overall, owning a rental property in Ontario in 2023 has its ups and downs. While investing in a rental property can be a smart financial move, landlords are facing higher operating costs, and tenants have more legal protections than ever before. It is important for landlords to understand their rights and responsibilities under the Residential Tenancies Act in Ontario to ensure a positive and legal tenancy.
Contact Maria Rekrut today to learn more about how you can unlock wealth using real estate for personal freedom. Set up a discovery call at: https://calendly.com/realwealthrealestate/
Be sure to visit: http://realwealthrealestate.com/ Email: remnn2018@gmail.com https://www.facebook.com/maria.rekrut
Real Wealth Real Estate Weekly Newsletter #2- By Maria Rekrut – Sept 12, 2023
The Good, The Bad and The Ugly of Owning Real Estate in Ontario, Canada in 2023
Fox News guest PERFECTLY summarises the WEF’s totalitarian
‘Great Reset’ agenda, in just one minute: “The WEF is a fanatical political organisation that uses fear and manipulation, like Covid hysteria, like the hoax of global warming, to really facilitate people thinking that somehow they’re the saviours, but really all you’re doing is helping them accomplish their goal, which really is a global public-private fascist movement, and fusion of big government, big tech [and] big money, to create a technocratic ruling elite, which conveniently is them.”
Fox News guest PERFECTLY summarises the WEF's totalitarian 'Great Reset' agenda, in just one minute:
"The WEF is a fanatical political organisation that uses fear and manipulation, like Covid hysteria, like the hoax of global warming, to really facilitate people thinking that… pic.twitter.com/FVGvGGORma
Evil WEF Leader Caught Celebrating Depopulation: ‘Population Collapse Is Good For The Planet’ https://thepeoplesvoice.tv/evil-wef-leader-caught-celebrating-depopulation-population-collapse-is-good-for-the-planet/
Remember when the mainstream media was insisting that “depopulation” was a right-wing conspiracy theory? Times have changed, and now the World Economic Forum are openly celebrating “depopulation” and instructing the mainstream media to send the message that “population collapse is good for the planet.”
Unlock True Freedom Through Passive Income with Real Estate Investing https://youtu.be/AkPGM20hGzE?si=gAKmntXi30VSYj_4 via @YouTube
Unlock True Freedom Through Passive Income with Real Estate InvestingReal estate investing is a proven path to financial freedom, offering individuals the opportunity to build wealth and generate passive income.
Investing in real estate can provide flexibility, financial freedom, and the opportunity to help others while enjoying the benefits of owning property. One of the most significant advantages of investing in real estate is the ability to earn money from rent payments and property appreciation without actively managing the properties yourself.
Real estate investing can also provide tax benefits, such as deductions for mortgage interest, property taxes, and depreciation. . If you’re interested in unlocking wealth using real estate for personal freedom, it’s essential to educate yourself on the various investment strategies and options available.
You can start by reading books, attending seminars, and networking with other real estate investors. It’s also crucial to work with a reputable real estate investor, and seasoned landlord, who can help you find the right properties and guide you through the buying process.
Finally, consider working with a real estate investment coach or mentor who can provide you with personalized guidance and support as you build your real estate portfolio. To get started on your journey to financial freedom through real estate investing, consider setting up a free discovery call with Maria Rekrut.
Maria is a seasoned and long time businesswoman, real estate investor, successful landlord and real estate investment coach and mentor who can provide you with personalized guidance and support as you build your real estate portfolio.
Contact Maria Rekrut today to learn more about how you can unlock wealth using real estate for personal freedom.
Both Trudeau and Freeland need to resign. They are working for the World Economic Forum and not for Canadians. They are both part of the Young Globalists, and Freeland is on the WEF Board of Directors. So where does her allegiance lie?
Man charged with arson in relation to Quebec wildfires https://www.rebelnews.com/man_charged_with_arson_in_relation_to_quebec_wildfires via @RebelNewsOnline
Real Wealth Real Estate Weekly Newsletter By Maria Rekrut
We have a surprise!
BUILDING YOUR WEALTH ONE HOUSE AT A TIME!
By Maria Rekrut on September 04
The Rental Market in Canada: Who’s Profiting and Who’s Suffering?
This is a question, I ask myself every day, as I watch what’s going on in Canada and worldwide. I feel like I’m on a hamster wheel, and not being able to get off of it. This is all a bad dream, and I’ll wake up tomorrow, I’m sure of that!!
Then I wake up and guess what? It’s just another day on the hamster wheel. Canada was never like that. We Canadians were accustomed to a stable government, that at least seemed to care for its citizens… LOL!! We didn’t have a Prime Minister who sold us out to the World Economic Forum and had, Klaus Schwab, declare to the world that his organization had “penetrated Trudeau’s cabinet”. Really, is he kidding?
We never had anyone throw people in jail, because they fought for their freedom to earn money in order to take care of their families. Or had their bank accounts closed down, even if you only donated “$50.00” for the Freedom Convoy’s cause.
I don’t really know who Trudeau thinks he is…. He is a civil servant, which means he has to abide with what Canadians want and need, not what the WEF – World Economic Forum tells him to do. You can’t swear allegiance to two masters. Trudeau’s allegiance is to the Canadian people and not to the WEF. Trudeau gets paid by the taxpayers… Canadian taxpayers, remember that!!
Our health care system, used to work, if we had a stable job or business and our dollar was worth something. We could buy groceries, buy a house, own a car, buy gas and not have to take a “loan” from the bank in order to live from pay cheque to pay cheque. Now because of this runaway inflation, our dollar’s not worth anything!! End of story.
I’ll be publishing a weekly newsletter that I’ll share with you. If you want to read more about my thoughts, feel free to hop over to my website at: http://realwealthrealestate.com/ Join me on the Maria Rekrut Radio Show broadcast live on Thursdays at 5pm on https://4680q.com/ Read below my article on how the Canadian Real Estate Market is Failing its Citizens!!
The Rental Crisis: How Canada’s Real Estate Market is Failing Its Citizens
Canada’s real estate market has been a topic of discussion for years, with many Canadians struggling to afford homeownership or even rental housing. The following is an overview of the state of real estate and landlords in Canada, based on recent news articles.
The End of Homeownership
For generations, middle-class Canadians have been sold on the promise of homeownership. However, the promise was always flawed. Homeownership has become increasingly unaffordable for many Canadians, especially in major cities. The high cost of housing has led to a rental crisis, with many Canadians struggling to find affordable rental housing.
Landlords Are One of the Leading Causes of Canada’s Rent Crisis
A tiny percentage of landlords are controlling Canada’s rental market and exploiting tenants for their own gain. Despite the media’s focus on Canada’s “small landlords,” the landlord class comprises wealthy families, small businesses, corporations, and financial institutions. The rental crisis has caused homelessness to explode in nearly all of Canada’s major cities.
Why Canada is Losing Affordable Rental Housing Faster Than It’s Being Built
Research shows that in the last decade, Canada has been losing affordable rental homes far faster than new ones are being built, and it’s forcing some renters out of the homes and communities they know. As Canada’s real estate market has heated up, large investors have brought industrial standardization and a financial focus to the landlord business. Housing experts call this trend “financialization.”
When No Landlord Will Rent to You, Where Do You Go?
No state in the country has enough affordable rentals, especially for low-wage workers, who need to earn at least $23.96 an hour, on average, to afford a two-bedroom rental. The absence of boardinghouses and single-room-occupancy hotels, which were a dominant form of low-income housing in many of America’s industrializing cities a century ago, is regarded as an overlooked cause of today’s acute housing crisis.
The Rise of Financial Landlords Has Turned Rental Apartments into a Vehicle for Profit
The multi-family apartment rental sector in Canada is being transformed by the rise of “financial landlords,” huge corporate firms that acquire properties as investment products. Canada doesn’t need landlords that bank on an affordability crisis as their business model. To rebuild inclusive cities post-pandemic, housing must be treated as a home and not a financial asset.
Is Your Landlord Liable for Your Safety?
Landlords have a duty to ensure that their rental properties are safe for tenants and their guests. Before giving the tenant possession of the rental property, the landlord must conduct a reasonable inspection of the property for unsafe conditions. After giving the tenant possession, the landlord is typically only liable for injuries to third parties caused by a dangerous condition that the landlord knew or should have known about.
In conclusion, Canada’s real estate market is facing a rental crisis, with many Canadians struggling to find affordable rental housing. The rise of financial landlords has turned rental apartments into a vehicle for profit, and the loss of affordable rental homes is forcing some renters out of the homes and communities they know. Landlords have a duty to ensure that their rental properties are safe for tenants and their guests. To rebuild inclusive cities post-pandemic, housing must be treated as a home and not a financial asset.
THIS WEEK’S HOT TOPIC
THE ILLUSION OF HOME OWNERSHIP
Be sure to watch my video about The Illusion of Land Ownership in Canada: What You Need to Know!
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