Increase Your Wealth Through Real Estate!!!!

REGISTER FOR OUR NEXT
“INCREASE YOUR WEALTH THROUGH REAL ESTATE” SEMINAR
Ottawa's Most Informative and Action Packed Real Estate Workshop

Don't Put All Your Eggs In One Basket!
A must attend event for all investors.
As a Bennett VIP Investor you will gain access to AMAZING HOME DEALS -  hot foreclosure properties, below market value homes, homes NOT on the internet,
and exclusive properties not yet on the market.

Join us on, Wednesday, May 13^th 2015
REGISTER ONLINE TODAY at
bennettseminars.com
or at 613-233-8606
Seating is Limited

GOOD news is that we are living 20 years longer.
BAD news is that we may run out of money!

More MILLIONAIRES have made their fortunes in
real estate than anything else!
ANYONE CAN DO IT, NOT EVERYONE WILL...WILL YOU?

Find out how ordinary Canadians become millionaires! Stop worrying about your retirement. Get your monthly retirement pay cheque.

INCREASE YOUR FINANCIAL IQ and join us on,
Wednesday, May 13^th 2015
REGISTER ONLINE TODAY at
bennettseminars.com
or at 613-233-8606
Seating is Limited

New Central Location with FREE underground parking! 

Location and Time will be sent to you upon confirmation.

5 Reasons Why You Should Open an RRSP

The RRSP or the Registered Retirement Savings Plan is a Canadian account registered with the federal government and the accounts characteristics are based on holding investment assets and savings. The RRSP was first introduced in 1957 to encourage employees to save for their retirement. However, there are certain rules and regulations that determine the timing of the contribution, the tax credit, the claim of the contributing value, the asset allowed, the maximum contribution and the conversion to RRIF (Registered Retirement Income Fund) during retirement.

There are a lot of benefits of having an RRSP as a savings options for retirement and here a just a few:

Tax Deductions on Contributions

Your RRSP contribution is basically a claim for a deduction on your tax returns. For instance, you’re positioned on the top tax bracket and every $1,000 that you contribute decreases your tax amount by approximately $460. However, if you find yourself with lower income, in a year you can carry forward your deductions for your contribution to the next year when your income increases. This way even though you would be in a higher tax bracket your tax savings would be greater.

Tax Free Savings

As long as your investment earnings stay within the RRSP you won’t have to pay any tax. Instead this investment earning is tax free; since it is compounded, your savings increase much faster.

Converting Your RRSP to Regular Payments during Retirement

If you’re looking for regular payments then you can convert your RRSP tax free savings into an annuity or a Registered Retirement Income Fund (RRIF) which pays out regular payments when you retire, but you’ll have to pay tax on the regular payments that are made.

Reducing Your Combined Tax Payment by Opting For a Spousal RRSP

If you’re thinking about helping your spouse with their tax free savings account, you can easily contribute especially if you earn more than your spouse. The both of you can go for a spousal RRSP, where on retirement the amount will be split equally amongst you two and thus reduces the total tax amount that you have to pay.

To Pay For Your Home or Education You Can Borrow From Your RRSP

If you’re thinking about borrowing money from your RRSP, you can take out up to $20,000 for the payment of yourself or your spouse’s education according to the Lifelong Learning Plan (LLP). You can borrow up to $25,000 as a down payment for your home according to the Home Buyers Plan (HBP). You won’t have to pay any tax.

If you already have an RRSP and it is not performing, the Bennett Team has a great program that can use your RRSPs to invest in real estate and generate a 8% secured annual return - that's better than any bank at the moment! Are you tired of loosing money in your RRSPs or STRESSED about your retirement visit www.bennettpros.com for details on this innovative program.

Visit www.bennettpros.com for all your real estate needs.

Investing your capital in the Capital: Home ownership in Ottawa

Ottawa-Gatineau has earned the first-place ranking for best Canadian city as ranked by MoneySense magazine for 2011 and 2012, in fact, Ottawa has taken it a total of five times in the past six years. As far as cities go, we’re the one to beat.

For the 2013 results click here.

What is it that makes Ottawa-Gatineau so appealing? The MoneySense study ranks 180 Canadian cities, taking into account such diverse factors as arts and culture, crime rate, household income, medical doctors per capita, rates of employment and air quality. We had consistently good scores in nearly every category – including, believe it or not, better-than-average marks for weather!

Now, I know that not many of us have the luxury of choosing the city in which we live strictly according to the appeal of its image. (Hello, Honolulu!) Most of us have to work our jobs, families and pocketbooks into the equation. On top of that, a lot of us feel deep emotional connections to the places we live, and no study is going to determine whether we stay or go. We Ottowans already know firsthand what we love about our Ottawa Home.

However, if you’re toying with the idea of home ownership in Ottawa, it’s great to know that you’re about to buy in one of the most desirable markets in the country. It’s often been said that your Ottawa home is probably the biggest financial investment you’ll ever make – and you’ll want to make that investment in a place that will hold its value over time. 

While Ottawa home prices here are higher than many in smaller communities, they compare favourably with other large cities in Canada. According to MoneySense, this region has an average home price of $352,020. Given the enviable average household income in Ottawa ($98,980), this is pretty affordable. Contrast these prices with Vancouver, where it will take you $882,000 to net you an “average” home!

Here’s what I take away from the MoneySense study: whether you’re Ottawa-born and bred or a relative newcomer, you can feel confident about purchasing a home in Ottawa, the city you already call home.

Visit www.bennettpros.com for all your real estate needs.

How to Invest in U.S Real Estate

The US investment market is still suffering from the consequences of the recession that hit its financial market in 2007. Although the market has picked up quite a bit areas like Nevada, Florida, Arizona, and California, areas that were hit the hardest are still below the replacement value. The Ottawa real estate market is quite different, but as an investor you should try to have a look for an investment opportunity in our neighbouring country.

The Canadian dollar still holds strongly against the U.S dollar. This in turn means that if you invest in US assets, you are likely to get a decent return over time. Taking a close look at these facts suggests that Canadians have an opportunity to invest in the best US real estate. In addition, you will be able to enjoy the summers with your family in the sun and the value of the property is likely to appreciate in the coming years.

It may sound like a dream come true but there are few things that need consideration before you dive into the opportunity. If you are planning to buy property for purely business purposes then you have to consider the following:

Passive Real Estate Investment does not Exist

You will require local knowledge of the area in which the property is located. You want the house to be located in the perfect neighbourhood and you might even let it out on rent while you wait for the value to increase. A local professional will help you manage the property and keep it occupied without any problem.

Mortgage Issues

If you are planning to find leverage or a loan from an American lender then you are in for a surprise. Even with mortgages cheaper than before, it is very difficult for Canadians to qualify for a mortgage therefore you might have to pay for the home in full. Your Ottawa Real Estate agent can look into alternative solutions

Taxes!

Unless you have prior experience and property in the US, you might want to expose yourself to the various US taxes that are involved in the buying and renting of an investment property. Not to mention you will have to file for yearly tax returns. We would highly recommend talking to an account familiar with investing in US properties.

Lack of a Diversified Investment Portfolio can be Disastrous

If you have just one rental estate in the US, you should be ready for all consequences. Deadbeat tenants, uninsured damages and property in the wrong area are all ingredients to a recipe for disaster. It is therefore important that you have more than one type of housing property in the US.

Your Ottawa real estate agent will help you in making the right decision for your real estate investment in the US. They can help you rent, sell and buy homes in the US along with all the help and information you require for mortgage.

Visit www.bennettpros.com for all your real estate needs.

Mistakes Made By Real Estate Investors

You must have heard a lot of people telling what to do when you are investing in real estate. However, people fail to mention what not to do. It is this part that is of utmost importance for Ottawa real estate investors. If you are an investor, you might not be very happy with your current portfolio with the falling market prices. If you want to continue to succeed you have to avoid the mistakes you have already made in the past and also avoid any other mistakes that you can make in the future.

The most common mistake that many investors make is that they are not focused on their investment plan. Either investors do not have a plan or they are easily distracted from the plan when they see new lucrative deals. If you stick to a thought out investment plan that is based on fundamental real estate principles, you will make more money and you will also minimize any risks your investment can face.

Ideally every investor would like to buy property that will grow in value over time; the rental income of the property will exceed the expenses and the equity will continue to grow with tenants paying for your mortgage. If you are buying property just because its value will increase over time, you are taking a huge risk which will most probably result in losses. Your focus should be properties that will generate enough income that you can take care of all expenses related to it and you are able save some profit.

Do not forget to measure all risks and rewards. People are always worried about return on investment. They should also consider the return on risk or return on time. Time is the most precious resource for an investor. The money lost can be regained in some way or the other, but the time lost on a particular investment can never be regained. You should always weigh the risks against the return that an investment is offering. Most investment opportunities that offer big returns come with big risks. If you are not able to manage the risks, you might end up draining your funds.

Another mistake that many real estate investors make is that they try to make the investments on their own. It might seem that you have all the information available on the internet and you can work out the deal on your own, but in reality this is not true. If you think that you are getting good return on your investments and you have managed to take care of them well without involving a real estate agent you are wrong. A real estate agent will help you manage your portfolio and will let you know of all the risks that are involved with your investment.

As a real estate investor it is very important to ensure that you avoid these mistakes. Contact your local Ottawa real estate agent today and save your investments while you still can!

Visit www.bennettpros.com for all your real estate needs.