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Just like the new federal budget, this episode was a doozy! Darren and Christina break down the ins and outs of the 2024 Canadian Federal Budget including the highly controversial capital gains tax increase. Is taxing the backbone of Canadian business really the best idea for Canada moving forward? Tune in to find out!

00:00 - Introduction

6:00 - Capital gains exemption increased

8:50 - The Canadian Entrepreneurs’ Incentive

15:10 - The capital gains tax change

27:30 - Other aspects of the budget

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On today’s episode, Darren and Christina are breaking down their key lessons learned from reading the book Rich Dad, Poor Dad by Robert Kiyosaki including how to find the right models for wealth, not getting caught up in the rat race, having your money work for you, and of course one of the most important lessons: the power of uninterrupted compounding!

Tune in now.

Show notes:

00:00 - Introduction

00:55 - What makes Rich Dad, Poor Dad stand out?

5:20 - Finding models for wealth

6:50 - “You’re broke, not poor”

7:55 - The rich have money work for them

9:05 - Don’t get caught up in the rat race

11:10 - Work to learn, don’t work for money

12:50 - EBSI mindset shift

16:20 - Assets vs. liabilities

17:15 - The power of uninterrupted compounding

18:30 - Understanding the history of taxes and corporations

21:20 - The rich invent money

23:00 - Overcoming obstacles and taking calculated risks

25:25 - Pay yourself first

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On today’s episode, Darren and Christina are answering your questions on all things infinite banking. We get a lot of questions from our audience across multiple platforms, and today we’re answering the ones asked the most, 11 and a half of them to be exact! If you’re interested in learning the ins and outs of infinite banking, tune in now!

Show notes:

00:00 - Introduction

00:55 - Is the death benefit taxable in Canada?

1:30 - What is the difference between the MEC (modified endowment contract) line and MTAR (maximum tax actuarial reserve) line?

2:40 - What is CSV (cash surrender value)?

3:10 - How do you borrow against life insurance?

4:15 - How do you find a qualified infinite banking concept advisor?

6:15 - What is a contingent beneficiary?

7:00 - Is a corporate owned life insurance policy taxable in Canada?

8:00 - Should I buy my house with my life insurance policy?

9:20 - What happens if I cancel my policy?

9:50 - What happens to my policy if I get divorced?

10:30 - Do I need to update my will and can I change my beneficiary?

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INSTAGRAM: https://www.instagram.com/controlandcompound/

TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en

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On today’s episode, Darren and Christina are joined by Mimi Fei, CFO and Co-owner of HoneyBee Development Group, a boutique real estate development firm based in British Columbia. The three chat about how Mimi got into the real estate investing business, how she was able to grow HoneyBee Development Group into what it is today, and they also go over Mimi’s due diligence checklist. If you’re a real estate investor and you want the blueprint to everything you need to do before going in on a deal, you do not want to miss this episode!

Show notes:

00:00 - Introduction

1:40 - How Mimi Fei got into real estate investing

3:50 - What is HoneyBee Development Group?

5:30 - The keys to being successful in real estate investing

7:30 - The due diligence checklist

18:09 - Legal compliance

24:05 - Physical inspection

29:25 - Exit strategy assessment

34:20 - Example of a deal where something went wrong

38:20 - Team evaluation

FIND US ON:

INSTAGRAM: https://www.instagram.com/controlandcompound/

TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en

FACEBOOK: https://www.facebook.com/controlandcompound

JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound

FIND HONEYBEE DEVELOPMENTS ON:

WEBSITE: https://honeybeedevelopment.com/

THE DUE DILIGENCE CHECKLIST:

Market Analysis:

• Study local market conditions, including trends in property values and rental rates.

• Research the supply and demand dynamics in the target market.

• Analyze demographic data such as population growth, income levels, and household sizes.

• Identify key industries and employers driving economic activity in the area.

• Evaluate employment trends and unemployment rates.

• Assess the overall economic outlook and growth prospects for the market.

Financial Analysis:

• Review historical financial performance of similar properties in the area.

• Analyze proforma financial statements to project future revenue and expenses.

• Scrutinize assumptions used in financial models, such as rent growth rates and operating expenses.

• Evaluate the proposed investment structure, including ownership interests and profit- sharing arrangements.

• Assess the availability and terms of financing, including interest rates, loan-to-value ratios, and repayment terms.

• Determine the eligibility criteria for potential investors, including accreditation requirements and minimum investment amounts.

Legal and Regulatory Compliance:

• Verify compliance with zoning and land use regulations, including any restrictions on development or property use.

• Confirm the legal ownership of the property through title searches and deed records.

• Review permits and approvals obtained for the project, including building permits, environmental permits, and zoning variances.

• Examine the terms and conditions of any legal agreements related to the property, such as leases, easements, or development agreements.

• Ensure that the proposed legal structure for the investment, such as a partnership or GP/LP, corporate structure is appropriate and legally sound.

Physical Inspection:

• Conduct a thorough inspection of the property to assess its condition and identify any potential issues or defects. (Drive-by or virtually)

• Obtain professional appraisal reports to determine the fair market value of the property.

• Review environmental studies and reports to identify any contamination or hazardous materials on the site.

• Evaluate geotechnical studies to assess soil stability and potential risks for construction.

• Check for the presence of underground oil tanks and obtain reports on their condition and any remediation efforts.

• Review occupancy reports if the property is livable/rentable

Exit Strategy Assessment:

• Evaluate potential exit strategies based on market conditions and investment objectives.

• Assess the marketability of the property and potential resale value based on current market trends.

• Consider the impact of economic cycles and interest rate fluctuations on the property's value and income potential.

• Review operating expenses and income projections to estimate future cash flow and return on investment.

• Determine the availability of financing options for potential buyers and the potential impact on resale timing and pricing.

Team Evaluation:

• Assess the experience and qualifications of the development team, including their track record of successful projects.

• Review the credentials of key team members, such as developers, architects, engineers, and property managers.

• Evaluate the strength of the team's professional network, including relationships with lenders, investors, and other industry professionals.

• Consider the team's reputation and credibility within the local real estate community, including any past legal or regulatory issues.

• Seek references from previous investors or partners who have worked with the team on similar projects.

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

Darren and Christina are back for another monthly update, can you believe it’s already April! The two chat about current interest rates and where they’re headed, how the carbon tax will affect Canadians once it goes into effect, interesting real estate news with Trudeau proposing new legislation to help renters, as well as industry news and Control and Compound news. Tune in now!

Show notes:

00:00 - Introduction

00:40 - Bank of Canada interest rates update

2:50 - The carbon tax is here

4:55 - Economic news

6:55 - Canadian dollar update

7:45 - Bitcoin update

9:40 - Canadian real estate update

15:20 - Life insurance news

16:45 - Control and Compound news

FIND US ON:

INSTAGRAM: https://www.instagram.com/controlandcompound/

TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en

FACEBOOK: https://www.facebook.com/controlandcompound

JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound

On today’s episode, Darren sits down with Daniel Foch, host of the number 1 real estate podcast in Canada, The Canadian Real Estate Investor Podcast. Darren and Daniel chat about how Daniel unintentionally found himself in the real estate industry, what led him to co-hosting one of the most popular podcasts in the country, and his thoughts on current policy around landlords and house flipping, among other things. Tune in now!

Show notes:

00:00 - Introduction

1:15 - Daniel’s real estate journey: What led him to becoming co-host of the number one real estate podcast in Canada

4:20 - How did Daniel become well-versed in real estate, the economy, etc.

7:00 - Daniel’s take on industry trends and timing the market

11:30 - Daniel’s take on current government policy surrounding landlord and tenants in Ontario

17:20 - Daniel’s take on the proposed tax on house flipping in BC

19:45 - Where will interest rates be in 3-5 years?

24:20 - Daniel’s take on where the real estate market nation-wide is headed

27:15 - Where does Daniel see growth happening for Canadian investors

31:20 - What is the 5 day challenge?

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

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JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound

FIND DANIEL ON:

INSTAGRAM: https://www.instagram.com/danielfoch/?hl=en

YOUTUBE: https://www.youtube.com/@daniel_foch

TWITTER: https://twitter.com/daniel_foch?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

In this episode of our Bitcoin series, Darren and Christina break down the three big events that could change the course of Bitcoin including the new Bitcoin ETF, the updated financial accounting standards, as well as the halving of Bitcoin (which hasn’t happened yet but is already contributing to a huge jump in value for Bitcoin!) Tune in now.

Show notes:

00:00 - Introduction

4:00 - The three big events that could drastically affect Bitcoin

4:30 - Breaking down the Bitcoin ETF

8:05 - What is the new financial accounting standards board?

13:05 - The halving of Bitcoin

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

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On this week’s episode, Darren and Christina are back with another installment of the Nelson Nash Series. In part 7, they go over page 65 in the book that talks about the capitalizing and implementation of your banking system. They also chat about how to store your money properly before investing. Tune in now!

Show notes:

00:00 - Introduction

2:00 - Capitalizing our systems

6:00 - How does the infinite banking concept differ from traditional investing?

12:00 - How do I start using the infinite banking concept?

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

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On today’s episode, Darren and Christina are chatting about the lifetime capital gains exemption that can be used by small business owners with a corporation among others to save on some of the tax when selling. They chat about how the exemption works, who’s eligible, and different ways you can apply it. Tune in now!

Show notes:

00:00 - Introduction

1:40 - What is the lifetime capital gains exemption?

5:30 - Assets that will qualify for the exemption

6:15 - Looking at example of selling a business with lifetime capital gains exemption

10:30 - Can you multiply the capital gains exemption?

12:05 - What is a qualified small business?

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

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On today’s March Update, Darren and Christina have a lot to cover! Including updates on interest rates, the stock market in Canada and the US, Bitcoin, as well as life insurance industry news and a new tax on flipping in BC that doesn’t exactly seem all that thought out. Tune in now!

Show notes:

00:00 - Introduction

1:20 - Bank of Canada / Interest rates update

3:40 - Is Canada in a recession?

6:25 - Stock market update

7:35 - Bitcoin update

10:55 - Real estate update

18:20 - Life insurance industry news

20:00 - Update on the economy

22:20 - Control and Compound company news

26:20 - Control and Compound podcast news

TAKE CONTROL OF YOUR MONEY NOW: https://www.controlandcompound.com/contact-us

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