Owning An Investment Property, Adam Hawryluk, Mortgage Specialist

The Simple Hack To Owning An Investment Property

Many Canadians dream of one day owning an investment property. Unfortunately, in the face of tightening qualifying regulations and the significant down payment required to purchase one directly (20% minimum for rental purchases) most feel it is difficult turning that dream into a reality. Despite this, there is good news! Thanks to savvy investors, there is straightforward process to side-step most of these big hurdles.

Owning an Investment Property

Step 1: For Your First Home, Buy with Your Head, Not with Your Heart

As a real estate investor, you want to make sure the first home you buy (Home #1) will eventually be suitable as a rental property. Because this home is bought for you to live in, you can purchase it with as little as 5% down payment, using CMHC mortgage default insurance. Don’t buy Home #1 solely because you love the neighbourhood, or because it is close to your work, as future renters may not value these aspects as much as you do. Consider up-and-coming neighbourhoods, which may allow you to purchase a property at a better value with the option of renovating as you live in it, if necessary. Work with your REALTOR® to maximize this value and lean on them for their expertise.

Step 2: Start Saving for Home #2

The key here is to take your time gathering your money for the down payment on your next home. Because your plan is to eventually move into your next home, you can purchase future Home #2 with as little as 5% down payment as well (or save up the 20% to avoid another default mortgage insurance premium). If Home #1 has increased significantly in value since you purchased it, you may be able to tap into some of it’s equity to help bolster the down payment for your next home.

Step 3: Qualifying for Home #2

Using the down payment you’ve saved up or the equity in Home #1, find out how much of a mortgage you can qualify for with your next home. Note: not all banks/lenders use the same formula to determine this dollar amount. Since Home #1 is going to turn into a rental property, lenders will use an appraiser to determine how much rental income this home can expect to earn each month since nobody can expect you to have a signed lease in place while you still live there. That determined income is then considered into your financial picture to calculate your maximum purchase amount for Home #2.

Step 4: Buying Home #2

If your goal is to have one rental property and one home for yourself, you can then look at this property through the lens of what would be ideal for you. Again, work with your REALTOR® to determine the neighbourhood, schools, facilities, layout, etc. that works best for your situation. If the intention for this property isn’t for you to live in forever, start back at Step 2 again and start saving!

The key to owning an investment property and buying homes in this manner is that the intention MUST be for you to live in them. This is not a “*wink-wink, nudge-nudge* suuuure you’re going to “live in this house” *wink-wink*”  shady type situation. CMHC has rules about your intentions for the property and how long you must reside in it, as does any mortgage lender for the property. All these people have in common is that they don’t plan on being in that property forever. Their time-frame may be three years or thirteen years, but they buy Home #1 with the thought in the back of their mind about how well it will function as a rental property in the future. The hardest part is actually BEING a (good) landlord, but that’s another post of its own.

Search Investment Properties   |   Property Management Services

Saving Money, Energy, Real Estate

6 Tips For Saving Money Around Your House

Owning a home and keeping it in tip-top shape can be costly. Small costs can quickly add up and sometimes become overwhelming. Here are a few tips for saving money around your house, anytime of the year.

Tips for saving money.

1. Rent or borrow tools.

If you have a project to do but don’t have the right tools, look at renting or borrowing them. If your project is a one-time job and you won’t need the tools again once it’s finished, it doesn’t always make sense to buy them.

2. Install programmable thermostats.

This will keep your home at the optimum temperature without having the thermostats pushed up and down to extremes.

3. Seal air gaps around windows and doors.

Caulking and weather stripping are inexpensive fixes and ensure you’re not losing heat during the cooler months, or air-conditioned cool air during the warmer months.

4. Clean out vents and air ducts annually.

To prevent dust buildup and don’t block air vents with furniture. Replace furnace filters each fall so your furnace runs more efficiently through the winter.

5. Turn off the lights.

Old fashioned incandescent bulbs give off 90% of their energy as heat and only 10% as light. Turn off lights in rooms you’re not using and switch to LED or compact fluorescents to save on energy costs around the house.

6. Use a push mower to mow your lawn.

Don’t knock it until you try it! Sure it’s a bit harder than pushing an electric or gas mower, but you’ll save money on your gas or hydro expenses during the year. And it’s good exercise, especially if you have a slope in your yard.

Each of these items will save you a bit of money each month. But, add them all up and you’ll find that the savings can be significant over the course of a year.


If you’re looking to buy a new home, or have one to sell, call RE/MAX of Nanaimo today at (250) 751-1223 and one of our expert agents will be happy to help.

VIREB, Market Stats, REMAX of Nanaimo, October 2017

Market Update Summerized

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area.

Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time. Keep in mind that the information does not indicate the actual value of any particular property.


Find out what your home may be worth in today’s market.

If you require specific information on property values please contact one of our REALTORS®or call (250) 751-1223.

securing your home, travel, tips, REMAX of Nanaimo

7 Tips For Securing Your Home When You Travel

For a lot of people, a winter vacation is just what the doctor ordered. Have you thought about securing your home when you travel? How can you make sure your home is secure while you’re away for a couple of weeks enjoying the sun?

Securing Your Home

  1. Mail hold. Contact the post office and ask them to hold your mail while you’re away. Mail won’t pile up in your home mailbox, reducing the risk that burglars can easily discover their next target. The cost is minimal but the peace of mind is priceless.
  2. Snow removal. Hire a gardening company or snow removal service. Depending on where you live, you might want to consider hiring someone to either mow the lawn or clear the snow from your sidewalks and driveways while you’re away.
  3. Light timers. Buy some timers to turn on your lights at random times. This gives the appearance that someone is home and lowers the risk of someone trying to break in.
  4. Parking vehicles. Have a neighbor park their car on your driveway so the home doesn’t look empty, especially if you’re taking your car with you or leaving it the airport.
  5. Buy a safe. Buy a code-opening safe for your valuables. Locking up your jewellery, trinkets or important papers ensures they’ll still be protected when you’re away. Depending on the size of the safe you purchase, you can tuck it away where it’s not easily seen or found.
  6. Garage door. Disable the electronic garage door opener. Because garage door openers have codes, it’s possible for someone to figure out how to open the door with another remote. By disabling the system, it makes it virtually impossible for someone to gain access using another remote.
  7. Home security system. Install a home security system that you can have monitored, or that you can check yourself on your phone. You’ll be immediately notified if there’s a problem and can deal with it as soon as you become aware of it.

A lot of home insurance policies require someone check on the home every few days, so make sure you know the requirements of your specific policy. Arrange for a friend or neighbor to go in the house every few days just to make sure there are no water leaks or other issues. 


If you are considering a long term holiday and would like to rent out your home, call our in-house Property Management team at (250) 751-1223.

2017 Franchise Times 200 Rankings, RE:MAX #1 in Real Estate

RE/MAX Leading Real Estate Franchise

RE/MAX was once again a top 10 franchise and the leading real estate franchise for the 9th consecutive year in the annual Franchise Times Top 200+® survey. This put RE/MAX at the same level of other household names as a top real estate brand with companies such as:

RE/MAX Leading Real Estate Franchise

RE/MAX was no. 8 overall, the closest competitors not very close at all, with Keller Williams Realty at no. 17 and Berkshire Hathaway HomeServices at no. 51.

  • RE/MAX ranked No. 2 for total SALES volume growth
  • RE/MAX ranked No. 8 for UNIT growth

The average sales growth of the top 10 companies was 2.8 percent – RE/MAX grew by 11.8 percent!


Original source: http://abovemag.remax.com/top-10-franchise-times

Data source: http://www.franchisetimes.com/Top-200?cp=1&si=0&so=asc&sort=url 

Sept 2017, Market Stats, Nanaimo Real Estate

September 2017 Nanaimo Market Update

The September 2017 Nanaimo Market Update shows 511 single-family properties sold on the MLS® System compared to 527 last September, a decrease of three per cent. Sales declined by five per cent from August, which saw 540 single-family homes change hands.

Nanaimo Market Update September 2017

However, as in previous months, we attribute these slight decreases to inventory shortages rather than a cooling market.

There were only 1,233 single-family homes for sale in September 2017, down by three per cent from last year.

What to type of Market is it?

With a sales-to-active-listings ratio of around 32 per cent, the VIREB market is firmly in sellers’ territory.

Last month, the benchmark price of a single-family home in the VIREB area rose to $462,500, up 18 per cent from one year ago. Apartments and townhouses also saw rising benchmark prices board-wide in September, up 30 per cent and 23 per cent respectively from the previous year.

Additional details are provided in our comprehensive stats package, available here. You may also find our September 2017 infographic helpful if you’re looking for a visual snapshot of sales highlights for our board area.

Market Update Summerized

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area.

Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time. Keep in mind that the information does not indicate the actual value of any particular property.


Find out what your home may be worth in today’s market.

If you require specific information on property values please contact one of our REALTORS® or call (250) 751-1223.

Sept 2017, Market Stats, Nanaimo Real Estate

Sept 2017 Market Stats

Real Estate Market Stats, Nanaimo, Real Estate, Homes Sold In Nanaimo

Nanaimo Real Estate Market Update August 2017

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area.

Monthly Nanaimo real estate market stats that analyze the Vancouver Island real estate market north of the Malahat. These Nanaimo real estate market stats can be useful in establishing trends when applied over a period of time. Keep in mind that the information does not indicate the actual value of any particular property.

Find out what your home may be worth in today’s market.

If you require specific information on property values please contact one of our REALTORS®.Real Estate Market Stats, Nanaimo, Real Estate, Homes Sold In Nanaimo

Disclaimer: This representation is based in whole or in part on data generated by the Vancouver Island Real Estate Board (VIREB) which assumes no responsibility for its accuracy.

4 Homework stations for kids, Back To School

4 Homework Stations For Kids

School will soon be back in full swing, and the kids loaded down with homework each night. But do they have a dedicated space to get it done? Here are 4 homework stations for kids, Learn how to create a space the kids will be able to use to get the homework done, with a minimum of fuss.

Homework Stations For Kids

  1. Kitchen desk. Does your kitchen already have an area like a “phone desk”, or a spot where your countertops extend far enough to create a desk work space? This is ideal if you want to keep an eye on what they are doing. You’re also nearby to offer assistance if they get stuck on a math problem.
  2. Loft beds. These look like a typical bunkbed, except the bottom bunk is a dedicated work space to get the homework done all in one place. Work down below, sleep up top, and use the rest of the bedroom for whatever activity your child enjoys. Check out places like Staples, Home Depot or Ikea for the bed best suited for your child.
  3. Flip-down, wall mounted units. Are exactly what they sound like. These are compact units designed to fold up when not in use, making the most of a small space. They keep the kids organized, but are safely out of the way when you don’t need them.
  4. Modifying a kitchen island. Install a narrow shelf below the overhang if you are planning a renovation anytime soon that includes an island. Use a hidden power source and a place to store laptops and other homework essentials. The clutter stays hidden and the kids can do their homework in the kitchen.

Are you a handyman?

Other ideas for the handyman in the family include:

  • Converting a small closet into a work space.
  • Using chalkboards as a desktop (these are great for doing math problems).
  • Re-furbishing an old crib into a work station.

Whichever way works best for your family, be sure there’s storage space to keep supplies nearby and a trash can for any garbage the kids create. Also, make sure the desk or furniture are at a height the child won’t grow out of in the next year. You don’t want to be rebuilding the wall unit every year and it’s much easier to adjust a chair height as they grow.

Browse homework station ideas on Pinterest.

If you simply don’t have enough space to create a dedicated homework station and need to move to a bigger home, call one of our expert agents today at RE/MAX of Nanaimo at (250) 751-1223.

Introducing the new RE/MAX brand refresh! RE/MAX introduces the new RE/MAX brand refresh. A fresh look after 44 years and ready for digital platforms.

The RE/MAX real estate network is getting even stronger. Today in San Francisco, RE/MAX Co-CEOs, Dave Liniger and Adam Contos, revealed a refreshed RE/MAX brand, including the world famous balloon logo and wordmark, to hundreds of franchise owners at the annual RE/MAX Broker Owner Conference.
“Our new look better represents the enthusiastic entrepreneurs who comprise our network … great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing.” – Adam Contos

RE/MAX Brand Refresh, RE/MAX of Nanaimo, Real Estate

RE/MAX Brand Refresh

Nanaimo’s Real Estate Market Update summarized what’s happening the the real estate market in your area. Find out what your home may be worth in today’s market.Nanaimo Real Estate Market Update July 2017

For more information about the Nanaimo Real Estate Market or to connect with an experienced Real Estate Agent, call us at 250-751-1223

Stats source: VIREB