In today’s episode, the guys discuss Real Estate Investment Trusts. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Libations – [0:53]

Fort Garry Brewing Company’s Portage and Main IPA Hazy Pale Ale [1:28]Hoyne’s IPA [2:18]Storr’s Rusty Ridge Zinfandel [2:57]

REITs [8:50]

XRE (index) [10:12]VRE (index) [10:18]ZRE (index) [10:23]ERE (European REIT) [11:40]Net Asset Value via Investopedia [17:30]Leverage or Debt-to-Equity Ratio via Investopedia [19:20]Payout Ratio and Debt Coverage Ratio via Investopedia [19:48]Inovalis [24:20]Granite [31:20]Webinar with Jeff Booth [33:15]The Price of Tomorrow [33:50]Slack [35:00]Zoom [35:20]

Reading List

For Rental Properties, Cash (Flow) is King via mygraterate.ca [7:02]Buying A Rental Property Vs. REITs: Assessing Which Is A Better Investment via SeekingAlpha [28:40]

The guys discuss what a day in the life of self-isolation and social distancing is like. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Libations – [1:10]

Steam Works Hazy Pale Ale [1:35]Phillips Tiger Shark [2:06]Talisker Dark Storm [27:55]

Physical Distancing [2:36]

Breweries offering home delivery offered by West Coast Brewery Tours [2:45]Brewing your own booze in quarantine [4:05]Is this a bit of a FI dry run? [6:55]Advantages of working from home [9:20]Disadvantages of working from home [11:20]Houses vs Condo’s when you can’t go out [13:20]Explore FI Canada talks about Home Schooling [14:08]How we are managing cash as well as try to take advantage of the markets [15:20]The Accountant gets a candy delivery from his wife [18:35]We discuss the government actions plans [19:25]B.C. introduces housing initiatives [19:35]The Mechanic discusses his choice to not apply for the subsidy since he doesn’t need it [22:00]We discuss all the headlines about the death of the F.I.R.E. movement [25:00]FIRE Confessionals: How A Bear Market Has Impacted The Financial Independence Movement via Financial SamuraiDifference between a successor or beneficiary in a TFSA [28:15]Designating beneficiaries for RRSPs and RRIFs via Retire HappyA guide to naming a beneficiary of your TFSA, RRSP or RRIF by Rob Carrick via The Glode and MailDefinition of Pansy [29:30]Definition of Innocuous [29:50]Definition of Wimp [31:10]

The guys discuss how hard it has been to not hit the panic button and buy everything in sight. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Beer – Bowen Island Artisan IPA [1:20]

Brought to you by Monique from Ontario, the winner of our Smith Manoeuver contest.

Panic! [2:40]

The Mechanic wants to know what the safe withdrawal rate on his toilet paper is (3:17)Bidet Stocks (3:25)We discuss the struggle to not panic buy ETFs and Stocks (4:01)Purchasing cruise ship stocks (7:02)The path to FI can give you more certainty and security in uncertain times (9:40)Having an Emergency Plan (11:45)Spending less so we have more available for investments (12:05)Risks of rental properties with tenants not being able to pay rent and the possibility of reduced rents (14:30)Listener Sean had some pointed comments on our interview with Randy Molland (16:35 & 22:35)Listener RJ commented on our Distracted by FI episode (22:05) Panic selling and adding to your woes (24:28)Why it’s nice that real estate is way more difficult to panic sell (26:45)How having an investment plan can help you stay the course (29:20)

The guys ponder if the distractions caused by thinking about FI slow us down on our path to FI. Show we focus more on our careers. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Beer – Persephone’s Hazy IPA [0:55]

Certified B Corporation [2:18]

How FI Distracts US [4:15]

The cost to replace an employee [27:20]

Today on the FI Garage The Mechanic and The Accountant speak with Randy Molland, of the Reinvestors. Randy and his partner Steve help people access their home equity and get into real estate investing. Randy and The Mechanic enjoy a Mill St Organic Lager while The Accountant tries to complete a dry month.

Who are the Reinvestors (2:15)Networking in the local real estate community (8:00)Using your dead equity (14:00)Find people who have done what you want to do (20:00)3 ways to make money in real estate (22:25)Keeping tenants happy (28:10)Putting together a team to help you invest (30:10)What’s the most important thing when starting out in real estate (35:10)Should you get a property manager (41:00)

Episode Links

*The links to the books are affiliate links from Chrissy at EatsleepbreatheFI.com.

Rich Dad Poor Dad* – Robert Kiyosaki

How to Win Friends and Influence People* – Dale Carnegie

REIN

In this episode, the guys consider the age-old question of rent vs. buy, but from an FI perspective. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Beer – Persephone’s Mocha Porter [0:45]

In Association with Denman Island Chocolate and Salt Spring Coffee

Useful Tool – BC Ale Trail [2:20]

Rent or Buy? [4:15]

Rent v. Owning Your Home, opportunity cost and running some numbers via JL Collings [5:59]Renting vs. Buying: The 5 Percent Rule via Ben Felix [14:20]Would we be Richer if we Bought a House via Millenial Revolution [21:30 & 34:25]Why Your House is a Terrible Investment via JL Collins [22:30]The Wealthy Renter by Alex Avery via Michael James on Money [35:35]

Our New Feedback Form is now up! [40:45]

Make a comment on our show notes page for Interview #8 – Robinson Smith and the Smith Manoeuvre by the end of February 29th, 2020 to enter our draw to win Master Your Mortgage for Financial Freedom and access to the Smithman Calculator [40:55]

Today on the FI Garage The Mechanic and The Accountant have a Red Truck IPA and get to speak with Robinson Smith, author of Master Your Mortgage for Financial Freedom. Robinson’s father Fraser created the Smith Manoeuvre in order to help Canadian’s make their debt tax-deductible and help more Canadians achieve financial freedom. Robinson has now picked up the torch and released a new book to help you master your mortgage and build wealth.

Beer – Red Truck Hard Day Northwest IPA [0:42]

Robinson Smith

Basic’s of the Smith Manoeuvre (3:01)Maintaining your total debt (8:00)Deductible Debt vs Non-deductible debt (8:58)Tax-free day (14:05)Reducing your taxes (15:05)The after-tax cost of borrowing (22:20)Capitalization of interest (23:15)Cash Flow Dam (35:12)Test run of Smith Manoeuvre calculator (40:40)

Don’t forget to leave your comments on the episode page by the end of February 29th, 2019 in order for a chance to win a copy of the book and exclusive access to the calculator.

Links

https://smithman.net/ https://www.richdad.com/

In this episode, the guys tackle the obligatory RRSP discussion and how those focused on FI can use them. If you found this podcast you’re probably familiar with the FIRE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Beer – Radegast 12 [0:35]

Useful Tool – spaceishare [3:09]

RRSP [8:30]

TaxTips web site [12:18 & 29:48]The Garage Manoeuvre – Request to Reduce Tax Deductions at Source [16:49]Set up a recurring deposit into an RRSP account;Request a letter from your Brokerage outlining the details of your recurring deposit;Fill out a form T1213 and send both the letter and the form to the CRA; andTake the letter the CRA sends you to your payroll department.Asset Location via the Rational Reminder [21:30]Norbit’s Gambit: How to Exchange Money Without Paying Fees via Millenial Revolution [22:38]Home Buyers’ Plan [26:10]What it takes to Retire at 45 via Money Sense [34:30]The Best Types of Accounts for Different Investments via Freedom Thirty Five Blog [38:50]

In this episode, the guys discuss the banks we use and how to optimize your bank accounts. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

*This page includes affiliate links – donated by an asterisk. (Because we are bad at monetization all of our affiliate links for credit cards are through rate supermarket; if you sign up for a card through our link they split the affiliate fee with us 50/50) – Thanks for helping to support the podcast!

Beer #1 – Bintang Pilsner [0:35]

Useful Tool – The Smith Maneuver [4:05]

Robinson Smith’s Master Your Mortgage for Financial Freedom

Banking [8:15]

TD Cross Border Banking [12:55]The Money Mechanic’s chequing account is the TD All-Inclusive Banking Plan [15:05]Laurentian Bank’s LBC Digital High-Interest Savings Account (HISA) – paying 3.3 percent [16:15 & 21:48]Credit Card Churning – Churning Credit Cards in Canada via Money We Have [18:15]EQ Bank [20:30]The Economist’s chequing account is the Island Saving (Credit Union) Simply Free Account [22:57]Tangerine’s chequing account [25:53 & 43:25] – e-transfers are now free! Consider using the Money Mechanic’s (27052379S1) or The Economist’s (28920188S1) referral codes* if you plan to sign up for a Tangerine Account.Shufflepuck Cafe’s Lexan Smythe-Worthington [31:25]Canadian New Bank Account Promos (A Free iPad or $350 Cash) via Gen Y Money [32:55]World’s Toughest Contest [34:02]Money for nothing, and Cheques for free via The Economist [34:35]Hourly Wage for Designing the Sears Tower (contains explicit lyrics) [35:50]Complete Guide to Canada’s Online Banks via Young & Thrifty [38:05]CDIC Insurance [38:25]Compare the Best High Interest Savings Accounts in Canada via Rate Hub [41:50]Should you jump on Laurentian Bank’s savings account with the 3.3-per-cent interest rate? via The Globe and Mail [42:13]Tangerine Credit Card* [43:55]

Beer #2 – Red Stripe [30:50]

The Accountant’s Hot Take [45:57]

Pace it! Installment Plan from CIBC We do not recommend this product!

In this episode, the guys reflect on 2019 and the past decade. We also look forward to 2020 with a few items we are planning to achieve. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

Beer – Driftwood Fat Tug IPA [1:15]

as recommended by the Ex-Pat and others [2:15]

Useful Tool – Last Pass [3:20]

Current Taxi [3:30]B.C.’s first ride-sharing operator is Tofino’s Green Coast [4:25]Car2Go is leaving North America [6:15]Petro Canada’s Fast Charging Network will be Coast to Coast [7:37]

2019 Wrap and Looking Forward to 2020 [8:30]

Robinson Smith’s Master Your Mortgage [13:35]FI Garage’s 2019 Reading List [14:35]Your Money or Your Life via MMMSimple Path to WealthRich Dad, Poor DadUnshakeable via Investor JunkieA Random Walk Down Wall Street via TheSimpleDollarMoney, Master the Game via Investor Junkie The Most Important Thing Illuminated via Seeking AlphaMoney Mechanic’s Backstory [18:30]All-ways Towing [25:20]Switching to a Sustainable Portfolio [25:45]World Tree [26:10]CoPower Green Bonds [26:15]Roomi [27:20]Wealthica [32:06]Mint [32:08]