Ozzie Jurock's Archives
Question: Friday, October 24, 2008
We are at 4.25 years into a 5 yr. mortgage at 4.8 per cent with a $230,000 balance owing. We have a $35,000 line of credit and we're struggling each month. With interest rates going up, is it financially smart for us to pay the penalty to get out of the remaining mortgage contract we're in, in order to 'lock in' at a higher rate of say, 5.6 per cent now, in case rates are even higher when it's time to renew?
Question: Monday, October 20, 2008
I live in Nanaimo BC and have been looking for an apartment building in an under valued area with growth potential. What do you think of Houston BC? Is it a risky bet?
Question: Tuesday, October 07, 2008
What does the current crisis mean for us as home owners in Canada? Should I sell now?
Question: Tuesday, October 07, 2008
I heard you say on the radio, that in Las Vegas all credit lines have been cut. Could that happen here?
Question: Tuesday, October 07, 2008
I am developing a mixed commercial-residential project in downtown xxxxx. From the very conception, it received support from the City and the community. The lenders also sounded promising. Encouraged by this, area growth potential and City's tax incentive I started the project. Half a year later and roughly 30% into the $2M project, I still can not obtain financing - neither from banks, nor credit unions, nor even from private lenders. I am thinking of equity sharing or even selling the project in progress. Any advice would be greatly appreciated.
Question: Tuesday, October 07, 2008
My mortgage broker wants me to roll my current mortgage into a credit line. Is that a good idea?
Question: Tuesday, October 07, 2008
I believe you said stay away from buying foreclosures in Cleveland and Detroit because of the auto industry is hurting badly. Is this correct? What about the fact that I would be re-selling the homes for the masses for about $50,000. Isn't there enough other industry to support these areas?
Question: Tuesday, September 30, 2008
I attended your USA seminar this weekend, thank you it was very interesting. I was absorbed in the content, and forgot to ask my question. What do you think about buying in Maui as an investment? Do you know if there has been much drop in prices there? Is it as inviting as some other cities which may be nearing a 'bottom' of a cycle?
Question: Thursday, September 04, 2008
I am looking at purchasing a place down in Arizona - in Scottsdale, to be exact. I am wondering is a foreclosure the way to go? Or would you suggest to head down and look at several places yourself?
Question: Thursday, September 04, 2008
Is it illegal to hire a friend from another town that I have bought real estate in to manage my B.C. property? She is not a licensed property manager, but I trust her and would work with her. People have been intimidating her and telling her it is illegal for her to even show my property to a potential renter for me. Is this true?