In the new book titled, “The Narrow Road”, by Felix Dennis, he wrote the following:

“Providing you are of reasonable intelligence and in good mental and physical health; and are not presently incarcerated in a prison… then nothing, absolutely nothing, can stop you from becoming rich…” 

Pretty cool, don’t you think? 

This means that where you are today has no bearing on where you can be tomorrow.

Your job doesn’t matter. Your income doesn’t matter. Your credit score doesn’t matter. None of these things matter. 

What does matter according to Felix Dennis is: 

How many times you are willing to fail, perhaps publicly and humiliatingly, before you succeed?

Most people fear failure and this fear stops them in their tracks. Failure is part of the process and is a learning tool. 

Dennis went on to write… 

”While there are qualities that may assist one to succeed more quickly in becoming rich from a standing start – discipline, confidence, self-belief, flexibility, being lucky, a thick hide, the ability to focus, the knack of learning to listen and learning form listening, an early inclination to delegate and to motivate those around you – nothing can compete with tenacity.

Tenacity will eventually trump all other qualities, whether inherited, acquired, or mimicked.” 

All that is required to be successful is tenacity. 

Tenacity is defined as doggedness or persistent determination. 

Are you tenacious?
Are you willing to fail multiple times in order to reach you goal? 

If you’ve answered YES honestly to both of these questions your odds of success are guaranteed.

The Most Important Quality Required for Success is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Renting your Toronto home out can be a financially rewarding experience.

The Toronto Star recently published a story on a “tenant from hell”, who seemed like an ideal tenant at first – before leaving a string of bounced cheques and very upset landlords in her wake. Because laws in Ontario are more designed to protect the tenant, it’s difficult to get someone evicted when they stop paying rent, and even more difficult to effectively screen a potential tenant for privacy reasons.

Renting out your home for additional income is a very appealing option, but prospective landlords need to be extra cautious when screening potential tenants in order to protect themselves, and their money from costly legal battles.

DON’T let all of the horror stories scare you off, though. It can be a very financially rewarding experience, you just have to get it right the first time!

Click here to read a personal experience of our own when it came to screening tenants, as well as information on how to get a copy of our excellent rental application to avoid making mistakes.

Thinking Of Renting Out Your Home For Extra Income In Toronto? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

The weather in the Greater Toronto Area is finally warming up, making spending a weekend at the cottage an extremely attractive option for many.

If you’re planning on buying or selling a cottage this year, there are several things to take into consideration, as cottage real estate can be different than regular homes in Toronto.

If you plan on buying a cottage soon, make sure you know what additional information you need.

Toronto Real Estate Lawyer Bob Aaron’s latest column offers a great overview of all that potential cottage buyers need to take into consideration, such as:

“The critical need for a land survey is often overlooked. A survey will disclose whether the cottage is built entirely on the owner’s land underneath it, whether there is a shore road allowance, and whether the water frontage has decreased due to erosion or increased as a result of land fill.”

“Making sure the deed describes the entire property the purchaser intends to buy is another big issue. Septic beds, wells and even all or part of the cottage itself may be located on a neighbour’s land due to historical sloppiness in marking property boundaries.”

The entire column can be found here.

It is definitely worth a read if you’re looking into buying or selling cottage real estate!

Cottage Season Is Fast Approaching – Thinking Of Buying A Cottage Near The GTA? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

The daughter of a friend of mine is in her first year at college. She’s living in a dorm room, but she and her parents are already talking about her living arrangements for next year, when she will most likely move into an apartment.

Checking out potential tenants online can get you into trouble.

As with probably most college-aged kids, the young lady has a Facebook account. Recently, her mother told me, she began deleting some posts and pictures from her account and sharing less information. She had done the same thing a year ago, when she was applying to colleges – worried that schools are paying close attention to applicants’ social media presence – and now she’s concerned that content on her page might hurt her chances with respect to securing an apartment lease next year.
Interestingly, this wasn’t the first time I heard of this concern recently. There was an article I saw online about a woman with good income and credit and stellar record as a tenant who was turned down for an apartment. She was pretty sure the landlord had looked at her Facebook page, where people can see that she is a political activist and practices Buddhism.
Those things aren’t the same as my friend’s daughter’s concerns over pictures of college parties or foul language on her page, but the idea is the same. In a society in which it’s estimated that nearly 20 percent of companies research job applicants on social media sites, you can bet that landlords and property managers are checking out prospective tenants online, too.
If you’re a tenant, that might be bad. For example, you might not want to reveal via your social media pages that you have seven cats. You probably don’t want pictures up that show loud, wild parties going on. You shouldn’t list “How to Make Pipe Bombs in Your Kitchen,” among your favorite books.
The flip side of the situation, however, is that landlords cannot discriminate against prospective tenants. And social media sites that might reveal religious or political views, as well as things such as race are being looked at by landlords, but if they are basing decisions not to rent to tenants based on any of those criteria, they are breaking the law.
The problem is, you’d have a tough time proving it. You’d have to have proof that the landlord saw your social media page, as well as proof that what he or she found on the page was the reason you were discriminated against.
Of course, the best way to avoid the situation entirely is to be aware that landlords look online as part of their research, so don’t post things you wouldn’t want any potential landlords – or employers, loan officers, schools, etc. – to see.
And what about the landlords and social media? Well, although it seems really tempting to use social media sites as ways to investigate an applicant, it’s probably better that you don’t.
As you know, there are things you can and can’t ask on housing application. You can determine not to rent to someone based on their credit history, income, criminal past, etc., but, as it says above, you can’t turn someone down because of their race, religious beliefs, gender, disabilities, etc. Questions about those things are, of course, left off rental applications.
But the answers to those questions might very obviously show up on Facebook. And what might happen if you go to an applicant’s social media page and see their race, religion, political views or even sexual orientation? Those are not things you ask in an application, but in viewing the page, you just made that information available to yourself. As it says above, a turned-down tenant would have a difficult case to prove, but if you get the right lawyer you will at least have a major inconvenience on your hands for a while.
So as tempting as it is to use social media sites to research prospective tenants, it’s probably best if landlords steer clear of them. Whatever you want to know, ask on the application. The rest is better left not knowing.

Landlords and Tenants, Be Careful with Social Media is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

I recently read two different articles that focused on time management and maximizing the time we have in our busy lives, and I had to share something that was a major point in both articles.

Schedule in your down time to make the most of it.

One article, on Mashable.com, was about how one very busy entrepreneur manages to be so productive despite a hectic schedule. The entrepreneur is Elon Musk, who owns Tesla Motors and also runs a privatized space program. He splits his workdays between the companies, and he credited strictly keeping to a schedule as a means to get things done more efficiently.
One of the things he does is schedule weekend time for family activities. His schedule includes no work on weekends.
The other article focused on scheduling as a necessity for productivity, too. This article went even a step further than the interview with Musk. It said that not only is scheduling down time – as Musk does – important, but it’s also important to sometimes schedule out what that down time will be.
Think about it. We all schedule things like vacations and weekend get-aways, sometimes following an itinerary down to the last letter. Most of the time, it’s because we want to get the most out of our vacation time.
But how many hours out of the year do we spend on vacation? Most of our down time is NOT spent on vacation. The overwhelming majority of the time we spend away from work is just regular old time off – evenings, weekends, holidays, etc. But aside from a list of to-do’s, perhaps, a day off is usually not planned out, is it?
I think this is probably a mistake. Sure, it’s nice every now and then to have a lazy day, when nothing is planned and we just let the time take us where it takes us. But just like you have things you want to accomplish with your work, you probably have things you want to accomplish outside of work, too. If you use a schedule to get done the work-related things, why wouldn’t you use a schedule to help yourself get done the non-work things?
You hear things from time to time about nobody being on their death bed and regretting not working more. You instead might guess that things such as not traveling enough or not spending enough time reading or doing family activities are the things that come as regrets.
If you want to avoid that, then those things have to go on your schedule. You want to spend more time with your spouse and kids? Well, then pencil in it in. Don’t just assume because you have some down time and they have some down time that you will end up spending quality time together. If that is a goal you want to accomplish, then put it on a schedule.
If you want to read more but find yourself never to getting around to whatever book it is you keep meaning to get to, then schedule it. If you keep meaning to pick that hobby of yours back up but never seem to get around to it, then schedule it. It’s sometimes amazing to think that we all seem to schedule the things we HAVE to do, but most of us don’t schedule the things we WANT to do. We’re slaves to our calendars for so many hours of every day, but when we have time to do what we want, we don’t manage that time as well as we do the time that’s not ours.
Don’t misunderstand; there are plenty of people who try to be better at this. It’s great, for example, if you make it a policy to not check your work email on weekends or ignore your cell phone after 6 p.m. But what are you doing with that time? You’ve made it so that work doesn’t encroach on that time, which means it’s at least somewhat valuable to you, but do you plan it out?
Most people don’t. And what ends up happening is you waste valuable time. Actually, the MOST valuable time if you buy that death-bed notion of not regretting that you didn’t work more. You wouldn’t thing of going through a work week without a calendar and list of tasks to be accomplished, but you trust yourself enough to manage this valuable personal time without those tools.
Maybe the easiest way to do this is to treat regular time off like you would a vacation. Just like you might follow an itinerary on vacation, make and follow an itinerary for, say, your Saturday afternoon. Play a game with your kids from 1 to 1:30. Take a walk from 2 to 3. Get that nap at 3. Planning these sort of things will make it far more likely you will do them, rather than allowing the day to just get away from you.
Also, don’t plan the “have-tos” into the down time schedule. Going to the grocery store or doing yard work might be things you do on a day off, but they are not part of your down time. They are things that must be done, so you’re likely to schedule them anyway. Just schedule them separately from the things you WANT to do, and you will get more out of your down time.
When it comes to schedules, that should be everybody’s goal!

Schedule Everything, Even Your Down Time is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

According to the Toronto Real Estate Board, 4,557 transactions occurred in the first two weeks of April through the Toronto MLS Listings, which is an increase of about seven per cent over the same time last year.

Toronto Real Estate Board Mid-Month Stats For April. Click for full size.

The president of the Toronto Real Estate Board, Richard Silver, said, “Competition between buyers remained strong in many parts of the Greater Toronto Area during the first half of April, with many listings attracting a lot of attention. Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks.”

New listings also increased, but only slightly compared to sales. The average sales price during the first half of April was $506,954, which is an increase of five per cent over the same time last year.

“Growth in listings has not kept up with growth in sales,” said Jason Mercer, the Toronto Real Estate Board’s senior manager of market analysis. “In the City of Toronto, new listings for low-rise home types during the first half of April were actually down compared to last year. This helps explain why some of the tightest market conditions in the GTA can be found within the 416 area code,” he said.

Click here for the full press release.

Toronto Real Estate Board Releases Mid-Month Resale Housing Stats is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Adults who move into a new home are generally focused on the positive aspects of living in a different place – a better neighbourhood, a blank canvas for interior decorating and maybe more space or a new job. After all, old friends and favourite places may only be a quick drive or phone call away.

How to move to a new home in Toronto without making it difficult on your children.

But for children, it can be a completely different story. They may only be focused on leaving their old school, friends and memories behind.

How to make relocating or moving to a new home with children a positive experience:

• Make it as easy as possible for your children to reconnect with their old friends – set up a monthly long-distance minutes budget, or plan a special visit one weekend if you’re moving farther away.
• Keep the delivery of the news that your family is moving positive: don’t expect your children to be resistant, tell them excitedly and don’t act like you’re delivering bad news.
• No matter how delicately put, the news that you’re moving may still seriously upset your children. Allow them to vent and listen to their concerns – then, come up with answers to these concerns together.
• Make house hunting a family affair, and bring your kids along to showings as much as possible to get them excited about their potential neighbourhoods, backyards and bedrooms.
• Find groups or activities that your children can join so they can begin socializing as soon as your family has moved.
• It’s hotly debated whether moving during the school year or during the summer is best for children. Being the “new kid” in the middle of the school year can create anxiety, but being in a new place for those long summer months without knowing anyone can also be hard on a child. You’ll likely know better than anyone which time of year will be easier on your own children.

Buying A New Home In Toronto – Moving With Children is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

According to the 19th Annual Homeownership Poll by RBC, 90 per cent of Ontario residents say that a house or a condo is a good investment. Ontario had the highest percentage of people saying real estate is a good investment.

Now is the time to buy a home in Toronto, according to the RBC Homeownership Poll.

This year, 59 per cent of Canadians felt that now was the time to buy a home, up from 55 per cent last year, while 41 per cent would prefer to wait until next year.

Among the top concerns for prospective Canadian homebuyers:

- Home prices increasing (23 per cent)
- Mortgage rates increasing (22 per cent)
- Current debt levels (20 per cent)
- Qualifying for a mortgage (19 per cent)
- Having a high enough down payment (16 per cent)

Last year, 52 per cent of Canadians thought that home prices would be higher the next year, but this year only 47 per cent feel home prices be higher next year. 30 per cent, as opposed to last year’s 27 per cent, think home prices will be stable, and almost half of those surveyed feel that mortgage rates will stay the same in 2013 as opposed to only 30 per cent last time.

Homeownership Poll By RBC Says Buying A Home Is A Good Investment is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Before you start shopping for a home in Toronto, you need to have a good understanding of your personal credit situation. It’s easy to find out.

Understand your credit report before looking for your first home.

You can visit either Transunion or Equifax. Transunion and Equifax are the two major Canadian credit bureaus. You can get your credit score and report immediately online for a small fee (under $25 or so) or you can follow the online instructions to receive your credit report for free by mail. You are entitled to one free credit report annually.

Knowing your credit score will provide you with a great idea of how lenders will see you when you apply for a mortgage. In addition, mistakes on credit reports can be common and you’ll have an opportunity to correct any misinformation or mistakes on your personal credit history.

If your credit score is low, it may be because of late payments or carrying a balance that is too high. If you work to lower your balances and catch up on late payments, you may see your credit score improve dramatically. Some credit report services also make recommendations based on your personal profile and let you know which factors are affecting your score the most.

If you plan on buying a home within the next year and are beginning to sort out your finances to do so, pull your credit report and score. Your credit score fluctuates but it will take a few months at least to see the effects of your efforts. If you pull it now, pull it again in six months to see how much progress you’ve made.

Buying A Home In Toronto? Don’t Let Bad Credit Stop You! is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

At the end of March, we blogged about Toronto Real Estate lawyer Bob Aaron’s latest column, which detailed some of the trickier aspects of having a basement apartment in your home or buying a home with a basement apartment.

An illegal basement apartment can break the bank if you're a homeowner!

If you haven’t read it, check it out! It’s a very worthwhile read for Toronto home buyers who are considering a new home with a basement apartment. Understanding what makes a basement apartment legal will help you avoid serious problems and get straight to earning extra rental income or providing a space for extended family to live close by.

Bob Aaron has followed up his column on basement apartments with another column on the same subject, detailing a new law that the province of Ontario put into effect in January of this year, as well as mentioning the City of Toronto guide to basement apartments and second suites, which is available here.

Bob Aaron’s column is found here. Check it out!

More On Basement Apartments From Toronto Real Estate Lawyer Bob Aaron is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale