I’m going to try to update the Real Estate section of the blog at least bi-weekly, now that I’m actually a property owner again.

On March 3rd, I closed on a triplex in Hamilton. The circumstances surrounding the purchase were complicated, but the short version is I was quickly going to need somewhere to live, and I didn’t feel like renting again while waiting for the Kissana quest to get resolved. A great opportunity came up here, and while it’s not the great investment that the Toronto property is, it was good enough to make the plunge. The mortgage and taxes are covered by the rents on units 1 and 2, and the tenants pay thier own electric bills. All that’s left for me to pay is the gas, which should average out to about $220 per month over the year. I can work with those numbers

In Toronto, the Kissana saga lingers on… on February 29th, I had been summoned to a discovery by Kissana’s lawyer. Kissana proceded to go AWOL, and my lawyer advised me that the discovery was going to be a non-event. He was going to go anyway (gotta love laywers, never miss an opportunity to create billable hours ), and I decided to go just for the experience. To date, my court experience has been limited to small claims. I’m enjoying the experience!

So, given that the other lawyer can’t find his client, he isn’t there. But guess who shows? Kissana! In the flesh! I finally get to meet the source of my frustrations. He’s looking for a new lawyer – again – perhaps one that will do even more work before he figures out the retainer won’t get paid. My guy says he’s quickly running out of options. Who knows, I may have my house in Toronto by the end of the year. One can only hope. I grew up here in Hamilton, and swore I`d never move back. At least I have some great friends in this city, which helps a lot.

I`m jumping around a lot, I`m sorry, but it`s Friday so you`ll have to excuse me.

I also wanted to mention that I`ve set my mortgage up here to use the Smith Manoeuver. I`ve been researching the process for several months, and I am convinced it`s the way to go. I`ll post more on the setup in the next few days.

I made the decision when I returned to Canada to optimize my finances. One of those optimizations was to buy a used car. I looked at all the new ones, and then I found my baby… a 2001 BMW 330i. Very nice, two sets of wheels (winter / summer) including rims, very low mileage, great condition. For about the price of a new Honda Civic, I was able to buy this car. It sounded like a great deal, and apart from the pricey repairs, I’m still a happy camper. I’ve got 90% of the cachet of owning a new one, and apart from $5k a year maintenance (hopefully over time that average will go down – religious ones amongst yourselves please pray for me!), it’s been a great drive.

Today’s trip is for a faulty sensor. The good news? It will cost less than $500 to fix! This is quite an amazing price – everything else (the clutch that went on the QEW at 120k, the rear brake line that went on the 401 at 120k, etc etc…) cost significantly more. Could this be the end of a bad luck streak? Here’s hoping!

Here’s hoping I make it down the road all right too — what’s the deal? When will winter end? I’m moving back to Bermuda if this keeps up!

A year ago, I came back to Canada after a three year stint in a tax haven. I wasn’t planning to return, but circumstances change. While I was away, I got used to not paying income tax. It felt GOOD. Paying $3500 rent didn’t feel too good, but after all was said and done, my savings rate was about triple what it is here in the land of Snow and Taxes.

I just did my 2007 income tax return last week, and I was shocked. Thanks for the healthcare, thanks for the great roads, but does it really cost THAT much to run a country?

I’m happy to be in a position where I earn an above average income, and although it’s not six figures, it should be enough to do just fine, given that I am dependent-free. I should be able to save a lot for Freedom 40, but in the year since I’ve been back, my net worth has barely increased. Rob is not happy.

I’m making it my mission to give CRA as little as legally possible. I know how a country can run without income tax, and I don’t feel like paying any more than I absolutly have to. I worked as an employee all last year, with no real deductions possible other than an RRSP contribution. Never again! Now I’m on the quest for the biggest legal tax deductions. I’m starting an online business on the side, and of course, I’m planning on getting into real estate whenever my silly court battle resolves itself. Bring on ‘dem deductions!

I have a 100% success ratio when it comes to picking stocks. More importantly, it even extends to indexes. Sure, timing has something to do with it, especially with the indexes. But, after looking back at every one of my stock purchases over the last three years, I’m shocked to admit, EVERY SINGLE PICK I’VE MADE HAS GONE DOWN. Yes, even the indexes.

Thanks to my dear frind Mr. Kissana, the guy who changed his mind about selling me his house, my downpayment has stayed in the market longer than expected. It was originally in a high interest savings account, then a cashable GIC, but I finally gave in last summer and moved it into index ETFs – XIN, XIU, XBB, XSP. I would like take this opportunity to apologize to every investor – I’m sure it’s my fault that the entire market has fallen.

I’ve come to the conclusion that I really really (really!) shouldn’t be handling my own investments in the stock market. I’ve got no problem building businesses, and am happily getting involved with income properties. But the stock market – I’m going to leave it to professionals. I’ve hired a financial planner, and that end of my future is securely in his hands. Market, you are now cleared for takeoff.