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By: Montreal City Real Estate

Keep Up With Yourself!

So this may date me a bit, but around 13 years ago in my early 30's I was living in and Calgary newly married. My wife and I were just starting our life together. Now, Calgary at that time was booming and I had just become a full-time real estate agent (broker). We were surrounded by big houses and thought that hey, those people look happy, we should aim for that too. So we worked hard, moved into beautiful suburbia, had a large home but still felt like something was off. It was not until the first recession hit that we began evaluating if this was the life we wanted. Were we really happy or just doing what was expected of us?

Fast forward 8 years later, 3 recessions, 2 kids, lots of scotch (single malt only)…. when we asked ourselves, what are we doing? On paper, we had “everything.” We realized that it wasn't our dream though. That's hard, let me tell you. Here I am, with a mortgage, stable career but my wife and I were both just cruising along but not “happy.” It was scary and a little freeing to know that even though we were not 100% sure of what we wanted or what our goals were, we did know at that moment that this was not it.

We did the “Keeping up with The Jones's aka The Kardashian's” thing and now understand that it was a distraction from the amazing life we actually could have. The truth is that life goes by quickly if you are busy living by other people's plans! You are going to miss what makes you, YOU!

Now, just because we picked up our entire life and moved across the country to start fresh does not mean it's right for everyone even though it was for us. We went through trial and error and we came to realize that we LOVE living in a big city! As much as we loved the suburbs, at the end of the day, it was not what we wanted at this moment. We also realized that it is OKAY to not know fully what you want and it's even more okay to have a different dream than other people around you. This doesn't mean when we came here that we didn't make mistakes, but what we did do was learn from them very quickly and move forward.
Many people see what we have done and thought we were nuts. We think so too sometimes, but we wouldn't change a thing. We have set new goals for OURSELVES! We look to other people, mentors, parents as examples but clearly understand that we had to forge our own path.

Another reason not to try to keep up with anyone is that their “path” in life is completely different than yours. Your life experiences are not the same. It does not mean you can't have all the things they have, but just make sure you want it for you and not for THEM! Made you think about that one didn't I? 😉

My wife and I realized that we wanted to live closer to the city so we could avoid long commutes. Your dream may be to live outside the city and have lots of space. You might want to find a house in a great residential community! You may want to live in a 3 bedroom condo smack in the middle of everything! If you want to rent and only buy investment properties, more power to you! Guess what? ALL are OKAY!

Remember one last thing, everyone starts from somewhere and something my parents always used to tell me is that the grass always looks greener on the other side. Spend less time peeking over the fence, more time focussing on your side, and then your grass will grow!

 

“As long as you are alive, you will either live to accomplish your own goals and dreams or be used as a resource to accomplish someone else's.” - Grant Cardone

 

If you have questions, I'm a phone call away.


Danny Kohli
RE/MAX HALL OF FAME
CHAIRMAN'S CLUB
514 907-9477
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By: Montreal City Real Estate

Not all “DEALS” look the same.

The number one question I get asked hands down is, "I'm looking for a deal, do you have one or know about one?"

EVERYONE is looking for that! The funny thing is that there are deals out there BUT they definitely do not look like what most investors have in their heads.


Here are the "DEALS" people are usually searching for:

  • The "Good luck" Deal - Low cost, high rent, no work to be done, sit pretty and collect the $$$.
  • The "Maybe/Kind of" Deal - Low cost, mid rent or vacant, needs some work but maybe they can flip it for more in a few years without adding anything of value.
  • The "Renovate and cash in" Deal - Low cost, horrible condition, vacant, needs lots of renovations, hoping for much higher rent. Flip it in a few years and maybe recoup investment and make a profit. **this is still possible but lots of risk and money spent.
I'm not saying that the above "deals" are bad, sometimes people get lucky. But when you invest your hard earned money, you cannot depend on luck. Strategy and understanding the market in specific neighbourhoods is more important.


I have helped my clients buy and sell multiplexes for years and they are an amazing investment! However I have a lot of other clients who feel like that is their only option to invest and feel priced out of the market. They could not be more wrong!


While so many investors are looking at multiplexes and new construction for where to put their investment dollars, sometimes old and small is a great way to go as well.


We have the fortune of living in an incredible city filled with opportunity for everyone. There are so many smaller apartments that are under $300,000 that, if maintained well, would be a great way to start accumulating properties and creating a substantial portfolio. Do they all look shiny and new? No, they don't. Do they have character and easy/affordable improvements that can be done? YES, they do! And guess what? Depending on the neighbourhood and when you add those improvements the rent can increase quite a bit and because your monthly mortgage payment low to begin with, you have the ability to make a tidy profit every month.


You do not need to be a millionaire to invest in real estate. Some of the top real estate investors in the world started with small properties and then slowly continued to accumulate more and more properties over time.


One thing I always want my clients, friends and family to know is that you CAN do anything you set your mind to! Do not be limited by what everyone else is doing. Do what you can do NOW! Opportunities are there for those who seek them out.


If you have questions, I'm a phone call away.

Danny Kohli
RE/MAX HALL OF FAME
CHAIRMAN'S CLUB
514 907-9477
...
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By: Montreal City Real Estate

Is Montreal's Real Estate Market Cooling Down?

Is Montreal's real estate market cooling down? The answer is yes and no. In some areas we are still seeing multiple offers. In other pockets not as much. The condo market has definitely cooled down as there is a lot more inventory than buyers looking to purchase.

The single family home market is different. If you are looking to purchase property under $600,000 in West Island, Laval, Brossard, NDG, Montreal Ouest, Westmount, etc PLUS it is in good shape, be prepared for a multiple offer situation in many cases. However even if that is not the case, also be prepared to pay close to the asking price if the property is listed at fair market value.

Cooling down does not mean prices are going down. BIG difference! Now with interest rates going up, it is a great time to lock down that pre-approval rate before they go even higher (which they are). I work with only the best mortgage brokers in the business who get things done!

You can wait and see but definitely be prepared to pay more monthly because the interest rates will dictate what your budget and monthly payments will be. Right now you can still lock in a reasonable rate and term.

If you are not working with a Mortgage Broker or need to see your options, get in touch with me and I will introduce you to the best mortgage brokers in the business!

Danny Kohli
RE/MAX HALL OF FAME
CHAIRMAN'S CLUB
514 907-9477

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By: Montreal City Real Estate

First time Buyers – Why Choose Us?

Blog #1 : Are you a first time real estate buyer/investor?

A question for all my first time real estate buyers- Why choose Montreal City Real Estate?

Well, it's no secret that buying property is a huge investment, however, it is also one of the best investments one can venture onto. This is not the time to make a decision blindly. There are 3 things you need when looking for a real estate broker: Trust, Dependability & EXPERIENCE!

I have been assisting my clients in their purchases, sales and investments for over a decade. I have seen the market evolve and know exactly how to navigate through it all. It takes more than a real estate licence to make sure your clients are getting the BEST service and making the RIGHT decision! This is especially true for my first time home buyers.

Getting into the real estate is the GREATEST investment you can make, especially in a city like Montreal that is still vibrant with opportunity! However, you still need to have someone like me , by your side that understands your needs vs. your wants. It is still a big investment and I want to see that investment grow!

In todays highly competitive market, where you'll fall upon homes with multiple offers, it is always essential and highly recommended to work with a real estate professional. This is what my team and I do! Many of my first time buyers are scared that property values are increasing so fast and their first instinct is to wait by the sidelines hoping for prices to fall. After spending time explaining why that is not going to happen and why current property values are what they are, we move onto making sure that what ever property they purchase is an excellent investment for their future!

Buying your first time home can be very overwhelming and without previous home-buying experience, it is easy to make mistakes. One great tip for first time buyers is the following: Get a pre-approval; you don't want to see your dream home slip away because you over or under-estimated what your budget is. With a pre-approval you're able to see exactly which price range you qualify for and you're able to see any plausible delays that can slow things down. We work with a range of mortgage brokers who are experts in their fields and represent all the major financial institutions.

So why choose us? It's simple, we take on the stress and allow you to enjoy the process.

Danny Kohli - Award Winning Real Estate Broker

514 907-1456

[email protected]

RECENT TESTIMONIAL

“Nick and I had an absolutely incredible experience with Danny. He helped us find our dream condo from across the country, during a global pandemic, and amidst an extremely hot market, which is no easy feat! His expertise was exceptional and he really made the first time home buying experience fun and exciting for both of us. I would do this a million times over with Danny – he’s right there along with you every step of the way. We will certainly be recommending him to everyone we meet in Montreal! ” – Nick & Kayla

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