Buy a condo w/o mortgage or a better one with?

[resjudicata]

@dbog sell the condo, put the 850k into IEP.NYSE

That should net you about $200k a year in dividends as it pays $8 bucks a year div.

Quit job. Leave Canada and travel.

 

[savedbyjesus7]

@resjudicata Their payout ratio is 348%, I really don't see how a 20%+ yield is in any way sustainable

 

[resjudicata]

@savedbyjesus7 Maybe do more due diligence than looking at one number.

 

[resjudicata]

@savedbyjesus7 I like Carl, I’m sure he will get me my money.

(Disclosure: actually long the stock)

 

[dbog]

@resjudicata 200k a year in dividends? This can’t be true or risk free lol

 

[resjudicata]

@dbog Its 100% true, major shareholder is a investment legend. Carl "Motherfucking" Icahn. But some guys who make money shorting stocks, talked shit about it and it got to 22, its back around 35. Never missed a 2$ per Q dividend yet.

Risk free...nothing really is

Risky....its got legit assets, and access to funding.

Edit add: while I would do it. It’s not for everyone, but if I was really worried. In could hedge with some puts.

 

[charismhealing]

@resjudicata Yeah, due diligence
https://hindenburgresearch.com/icahn/

 

[resjudicata]

@charismhealing That’s not due diligence lol

Read the report, and make your own opinion. Maybe run the numbers yourself. Think it’s funny a short report, where the guys who wrote it, did it to push stock down is your go for DD.

Also maybe take into consideration the price IEP was trading at when written and what has changed since. Maybe look at previous targets of that group and the after report performance of targets.

Why I make dollars and your struggling to make cents of it all.

 

[hubble9458]

@dbog Same location in Toronto or different locations? If different, where?

 

[dbog]

@hubble9458 Downtown, midtown or north York are the areas I’m looking to be

 

[hubble9458]

@dbog You can afford the mortgage, so personally I would put the financials aside and pick the area that’s most desirable to you. If you’re not struggling with the low mortgage and maintenance in mind, go for it imo. It’s a different experience being in the heart of downtown than commuting to it, even if you’re not that far away

 

[cbaker000]

@dbog Are you ever planning to move back to Vancouver? If yes, I would rent out this one and rent a smaller place in Toronto to start with.

Unless you've lived there before, it's a big move and you don't know how things will work out. Do you have a partner? Are you going to meet somebody? Will you like the neighborhood? Will your new job work out?

It's too easy to be priced out of Vancouver and never be able to come back. You're in a situation where your existing condo will keep you in this market. You can always sell it later when you are settled in Toronto.

 

[dbog]

@cbaker000 I’m from Toronto. Been living in Vancouver for 6 years. It’s time to close the west coast chapter and come back home to be with friends and family.

 

[resjudicata]

@dbog “I want to live more comfortably by moving out of a expensive city to another expensive city with the same housing issues, while also trying to save” what?

Do you have to move to Toronto? Calgary and Edmonton have such low house prices I’d recommend moving there plus it’s closer.

You can easy pay off a house or two in one of those cities.

 

[dbog]

@resjudicata Has to be Toronto. For work, family and friends

 

[resjudicata]

@dbog What’s wrong with Vancouver? Why not stay there. Save the hassle of moving.

 

[dbog]

@resjudicata I’ve been out in Van for 6 years. It’s a lot of time to be away from the people that I want to be present around and grow with. As much as I love Vancouver, what makes life most fulfilling to me is spending time with the ones I love!

 

[lostone123]

@dbog From risk mitigation standpoint, did you consider renting this condo out for a year and renting a place in Toronto? Then doing any big real estate moves only after you are absolutely positive on your plans.

 

[dbog]

@lostone123 I’d rather not deal with having tenants across the country. I’m positive in moving/staying in Toronto

 

[lostone123]

@dbog It sounds like a personal choice to me. Consider where you would like to be in the future? Would you need to upsize to have a bigger family, kids? In that case might as well get something bigger. Otherwise personally I would go for something I actually need and invest the rest of the money in stock market. Stock market and real estate have had comparative rates on return plus it would give more diversification. In other words i’d rather have $1M in a house and $1M in a stock market than $2M in a house, that doesn’t produce income simply hoping for the continued long term growth of real estate.