I hope everyone had a very Happy New Year. My apologies for not sending anything yet this year, and hope everyone took advantage of the market downdraft late in 2018 to add to your TFSA with the new $6,000 contribution room for 2019. I added to both our TFSAs and made stock selections on January 3rd being anxious to get good values available at that time. A key success factor for stock investing is taking advantage of downturns, when others are selling.
With this blog I would, however, like to take the opportunity to discuss real estate as it’s another important investment medium. Chapter 12 of my book describes my journey as a real estate investor. Like stocks, I have over 35 years of experience investing in all types of real estate including houses for rental, multi-family, commercial, farmland, recreational and hotel-condos. The latter is my favorite real estate sector for reasons described in the book. Chapter 12 covers many aspects of real estate ownership, including how I turned my house mortgage into a tax deductible expense. I saw a whole book on this topic but think I covered it nicely on a single page. For any aspiring real estate investor, this chapter will be a valuable resource.
Hotel-condos are a lesser known real estate sector. It is how many resort villages are organized. The hotel rooms are generally privately owned, with a hotel management company running the operations, splitting the revenue between the hotel company and the room owner. When you wish to use your own room it is simply taken out of the rental program for those evenings. I recently stayed at our new suite in a brand new resort on Vancouver Island, and am so excited I wanted to share with you.
I have stayed at many fantastic hotels and resorts, for both business and personal reasons. The views at this resort rank at the pinnacle. It is very secluded and tranquil, yet still close to Victoria. The condos, or rather cottages, are perched on a cliff at the water’s edge, giving the impression of being on a luxury yacht, while still firmly on the ground. Sunrises and sunsets were spectacular. There are endless hiking trails at the edge of the resort, a workout room overlooking the sea, with great restaurants and spas in the vicinity. We saw numerous sea lions swimming by and whales are a regular sighting. This four-season resort is stunning even over the winter season, because you can’t really call it winter on this southernmost tip of the island.
If you are looking for a unique place to rest and rejuvenate, or for a small corporate retreat, this is a fantastic place to unwind. We didn’t want to leave.
Anyone interested in a get-away can look up www.SookePointResort.ca. The rooms have full kitchens and ours is a 2-bed, 2-bath, so please consider asking for suite 47B when booking.