Category Archives for "Finance"

Feb 25

A million dollar TFSA sounds great except…

By Bruce Firestone | Family , Finance , Investing , Real Estate , Real Estate Investment Coaching , Urban Economics

A million-dollar TFSA, https://business.financialpost.com/personal-finance/taxes/the-road-to-the-million-dollar-tfsa-is-getting-shorter-for-millennials, sounds great except I’m not 100% convinced about these assumptions: a) earning 4.7% yearly, compounding annually, b) continuing to put in max $$$ every year for 47-consecutive years without fail. There are simply too many ups & downs over a lifetime. But, say you buy a half double like one of […]

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Feb 24

How to turn $7.2 million into half a billion dollars

By Bruce Firestone | Business Coaching , Business Models , Entrepreneurship , Family , Finance , Investing , Real Estate , Sports & Entertainment , Urban Economics

I spoke with my friend Victor Menasce about the Ottawa Senators, the NHL, real estate investment and more on his podcast‚Ķ I explained how we purchased (in the early 1990s) 600-acres in the far west-end of Ottawa (Kanata) for $12,000 an acre ($7.2 million, if you are counting), plunked an NHL expansion franchise (aka, the […]

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Feb 03

Rent-to-own business model

By Bruce Firestone | Architecture , Business Models , Design , Entrepreneurship , Finance , Ideas , Investing , PB4L , Real Estate , Real Estate Investment Coaching , Urban Economics

I usually don’t really like rent-to-own (R2O) models either from an investor’s POV (point of view) or from a client’s POV. From a client’s POV, it’s an expensive way to buy property; they have to pay all of the costs of the property including mortgage payments, property taxes, insurance (tenant and landlord insurance), all repairs/maintenance, […]

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Jan 13

How many ways are there for Canadian real estate entrepreneurs to get screwed?

By Bruce Firestone | Architecture , Entrepreneurship , Finance , Real Estate , Real Estate Investment Coaching , Urban Economics

[The problem with low appraisals] I am frustrated that Canadian real estate entrepreneurs have so few options when it comes to financing their projects. My friend, Matt Slobodian from Canada ICI wrote this: The regulatory framework in Canada focuses on safety and soundness (it is federally regulated via OSFI, which implies higher standards) whereas the […]

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Jan 10

Why American businessmen and businesswomen are eating everyone’s lunch

By Bruce Firestone | Business Coaching , Entrepreneurship , Finance , PB4L , Real Estate , Real Estate Investment Coaching

I coach some fantastic entrepreneurs in the US, Canada and elsewhere. However, there is an experience common to entrepreneurs the world over except for the US. Their business ecosystem is different. I wrote to a Canadian woman I coach who runs a real estate portfolio focused on Airbnb and student rentals who is expanding her […]

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Dec 21

What are the best (legal) businesses to be in?

By Bruce Firestone | Architecture , Design , Entrepreneurship , Finance , Real Estate , Real Estate Investment Coaching , Sales & Marketing , Sports & Entertainment , Urban Economics

(Excerpt from Don’t Back Down, the real story of the founding of the NHL’s Ottawa Senators and why big leagues matter) The most profitable businesses are either illegal (like drugs) or government-owned like property taxes, alcohol distribution (at least in Ontario and Quebec), utilities and lotteries (plus drugs, if you count legalization of cannabis in […]

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