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News from Pauline

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My Mortgage Broker 
Pauline Tonkin
  Mortgage Update
                                                                                                                                       Mar 2012
In This Issue
 
 
Strata Act Changes
12 Ways to Get Out of Debt
Real Estate Investing - Interview with local realtor
Do you need to learn more about managing your money?
www.MyMoneyCoach.ca
KUDOS

Thanks for allowing me to help you!

We thank you for your incredible service. I always appreciate working with people who make things happen and have a can do attitude. You certainly have that and the process was clear and uncomplicated.
 
PG - Surrey 
  

 
I love helping my clients and giving them them power to choose.

Only a few weeks still spring! 

Visit my blog, join me on Facebook, Linkedin or Twitter for up to date information on mortgages and other items of interest to home owners and buyers.

As always I appreciate your sharing each issue with friends and family.  If you have any items of interest that you would like to see in future issues please email me at pauline@mybcmortgage.ca.
Changes to the Strata Property Act

As part of the Buyer Beware seminar in January sponsored by John Grasty of Prudential Realty in Coquitlam, he provided updates on the recent changes to the Strata Property Act.   We received plenty of questions so we have collected more information over the past couple of months specific to depreciation reporting and how it may impact financing, strata fees and buying or selling your condo.  Our next Buyer Beware expert panel is set for Wednesday March 7th at 7pm - Douglas College. 

 

On December 13, 2011, the provincial government changed several important strata requirements.

 

The changes mainly concern depreciation reports and contributions to a strata corporation's contingency reserve fund (CRF). Some changes are immediate, while others come into effect at different times over the next two years. After speaking with some local engineering firms we have learned more about the depreciation reporting process.  For those strata groups with a strong contingency fund in place and a maintenance plan the costs of repairs will be clear to owners and buyers.  Those with limited planning in place may see a rise in strata fees to allow a build up of funds allocated towards maintenance.  For more details  visit my blog atwww.MyBcMortgage.ca or call me directly at             604 813 8402      . 
 

 
12 of the Most Effective Ways to Get Out of Debt

Many people would love to pay down their debt or get rid of it altogether, but they aren't quite sure of the best way to do it. There really isn't any one "best way" that works perfectly for everyone. So here are a dozen suggestions to get you started. The more of these that you can apply, the faster you will get out of debt.

 

 

http://www.mymoneycoach.ca/my_budget/out_of_debt.html

Note from Pauline - This website was created by the Credit Counselling Society.  They are a non-profit credit counselling group who help people to get control of their budget, repay their debt through repayment programs and how to deal with collection companies.  I have referred clients to them who say they appreciate how they were treated and the help they received.

 
Interview on real estate investing 

Thank you to Mikhail Skvortsov, local realtor for interviewing me on what investors should consider before investing in real estate.  I am not a huge fan of being interviewed on camera - so I was a bit nervous.  I think I needed to sit closer to the microphone so you could hear me - but we will do better next time.  
Bottom line - the message was to consider the cost of financing, vacancy and maintenance when you make an offer on a purchase for investment.  Talk to your mortgage specialist, tax accountant and realtor to ensure you have all the information you need in order to purchase at the right price to maximize your return on investment.
Upcoming Events - I will be a guest speaker.

Buyer Beware  (with John Grasty of Prudential Real Estate)
March 7,2012   7pm
Douglas College Coquitlam
RSVP to Pauline             604 813 8402      

Building Wealth Through Real Estate (with Susan Hubele of REMAX) 
April 19,2012    7pm 
27th Floor 1850 Comox St, Vancouver 
RSVP Robert             (604) 813-8897        

More events in May - to be announced.

If you are part of an association or company that provides educational programs to your members and want to book a presentation or panel of experts at your next event - call Pauline at             604 813 8402       or email at pauline@mybcmortgage.ca

 

 

 
Thank you for your testimonials and referrals
I really enjoy what I do each day in helping people.  I also appreciate the testimonials and referrals to family, friends and colleagues.  

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