Sharing my vision of retirement and gem of knowledge

[Asychee]

Budget

The purpose of this post is to highlight the steps involved from the time you received your PR Visa until you settle down. It is $$ all the way, I suggest that if you prepare your self mentally and financially, you will lessen you stress as you will not like to be caught off guard. I would suggest tat samster that has recently got their CA PR would be the best to advise on the actual cost to have a better picture.

Steps

After 3 -5 years of wait, the much anticipated love Letter from Canada High Commission (CHC) finally arrived , ask you to go for PR medical Get Police Clearance.

You might also be asked to take pictures for PR Card (Photo specification = diff spec from the one that you submit)

1 month later another CHC letter telling you to bring your Passport to stamp VISA all members of your family letter will also show that the amount of $$ you might have to show during Landing in Canada (my family was around $35K). Pay CHC for the fees.

Transfer ($$$ to Canada Acc)

Make a plan to fly to Canada (Airfare is very expensive on the Canada leg)

Before landing have to arranged for rental apt = 1 month Sercuity Deposit + 1 month advance payment.

Rental aprt here are normally not furnished. So have to set aside some $$ for furnishing TV, Sofa, Bed, Sheets, Pillow, etc.

Connection of the Utilities, Telephone, Cable TV, Power = $$$

Survive for 1st 3 months = edmonton 1500/month

If come during winter = clothing $500 per person (tunk, Ear muff, neck warmer, Winter Jacket, snow pants, gloves, Thermal under pants, Wollen socks, Snow Boots)

Driving Test = $600 (lesson only- 3 classrom + 10 hours practical) Test ($120 - Vech. rental + pay tester) if fail can retest the next day.

This is the general expenses. If you think thru it, you might be able to save here and there or move around the finances.

Driver Insurance

Canadian Direct offers VIP packages to certain nationalities (or persons with driving experience from certain countries and Malaysians qualify).

Documents required to obtain substantial discount on the insurance is:

i) Proof of driving license indicating experience for more than 10 years (official letter in tranlated into English required)

ii) Proof of good car insurance records, especially if no claims records are available from the car insurance company from the originating country.
For Malaysian auto insurance firms, a company letter stating "No Claims Bonus" (NCB) will be useful, especially if the company can state for how many years
the car has been owned without any claims.

Hope this helps.

 

[Asychee]

You have a kind soul, bro.. beware some sinkies may follow advice blindly ~ without assessing their personal circumstances.. when it fails, you will simply be blamed.. so its better to put a disclaimer clause

So hows your properties doing lately ? Hey, I manage to engage cheap indian students do some DIY renov.. I have heaps of contact numbers now.. by pressing a few buttons on my iPhone, these students will report for work the next day. heehee. Properties here have increased 20% in last 6mths, I hope to achieve 50% growth when the renov is completed

Hopefully, we can enjoy our retirement together .. travel to SG/M'sia for 3-6mths during winter & yum seng together.. heehee..

Hi Axe168,

I have been working to build my apartment building. When i was trying to buy a apartment building, i notices taht most of them are around 40-50 years old. It is made with Wood (shelf life - 70 years old). So if i buy over, i will have to put aside a big budget for Maintenance and prepare for tearing down the apartment block and rebuild in the same location if i hold for long.

Coming from Sg and having travel within China. I noticed how they build their aprt buildings - Pre fab. I am completing my research, the following are my findings

The basic cost is USD$375 (C$400) per square metre or (1 sq metre = 10.76). 1 block of 10 units is around C$500,000 in China – usually you can do a 20 Units (C$1,000,000) back to back. (4 units on a floor). Each unit is around 1000 sq ft. 2 bed room and 1 study room.

It cost around $20 per square feet of concrete. 272 sq metres = $60,000 for the foundation.
Installation is 5 months x 10 person. 50hours x $50 per hours x10 = $25000 monthly. 5 months to finished project = $125000.
Freight cost - USD$2500 x 44 containers = $110,000.
Land scaping and roads. = $60,000.
Planning and zoning & supervision = $100,000
Total : $455,000

1.5 million + land $500,000 = $2,000,000.

What is the value of the apartment when completed.

Since this is a concrete and steel building – min cost is 220 per square metres when you building Edmonton. Exc plumbling,electrical and etc

So a similar building in Edmonton should come up to $5 - 5.9 million.

If the bank value it @ 5 million or $250,000 per unit. We managed to finance it at 65% LTV. We still get back $3,250,000. or 3 million if we are conservative

Another variation.

We can start with over designed on the load for the foundation. (For instance, we start with 5 story building but we reinforced the foundation until it can withstand 15 story). We have the provision to add a elevator and add 5 – 10 floors (20-30 units) if we can get it rezoned.


Have to add in the following:

1. Need to establish the potential market value of the apartment block development.
2. Additional costs that needs to be considered:
o Ground preparations
o Exacavation, disposal, etc.
o Connection of utilities, telecommunications, sewers, etc.
o Costs for interior finishing/decorative/carpentry/plumbing/electrical works. - the prefab take care of 70% of this
3. The installation labor cost does seem on the low side. Are there any other indirect or statutory costs? Double this - still make
4. If the total cost to build & market takes up to about 65% of the project's market value, I think it will be viable.


In this city, during Ralph Klient years - he made it his priority to turn Alberta to be come debt-free but paying down. So there are opportunities

 

[axe168]

Hi Axe168,

Have to add in the following:

1. Need to establish the potential market value of the apartment block development.
2. Additional costs that needs to be considered:
o Ground preparations
o Exacavation, disposal, etc.
o Connection of utilities, telecommunications, sewers, etc.
o Costs for interior finishing/decorative/carpentry/plumbing/electrical works. - the prefab take care of 70% of this
3. The installation labor cost does seem on the low side. Are there any other indirect or statutory costs? Double this - still make
4. If the total cost to build & market takes up to about 65% of the project's market value, I think it will be viable.

In this city, during Ralph Klient years - he made it his priority to turn Alberta to be come debt-free but paying down. So there are opportunities

Yes, if you notice some of the sites.. the developers would normally demolish the buildings.. leave it vacant for many years.. then start to develop in full speed when economy picks up.. & they consider it a "viable" investment.. many wonder why ? At the same time, you may also see alot of idiots crying-out-loud, claiming these developers must be stupid.. bla-bla-bla.. To the idiots, developing in a HDB way is definitely a good way and any other way is considered a failure.. zzzzZZZZZ..

In Australia (cannot comment on Canada).. the avg hse grows at an average of 8% and the rental yield is 3%.. In total if you invested in a right location, your yield is approx 10-12%.. 1 mil investment would have an annual growth of abt 120k. If you take out the rental, ya growth is about 80k.. that's not too bad, if you keep your hse for 5yrs = 400k !! If you are a developer, you should know your margin.. market standard > 20%. Some would like rental yield but i place my bets on development

Some gurus disputed with me.. they alleged higher rental yield is the way and they said we should all buy positive cashflow investments.. lol.. i have no comment.

If you are importing stuff from China, please make sure it conforms with your nation's quality standard.. ie timber to be Australian Standards AS 5604 & ship with fumigation certification.. Steel requires to achieve a certain tensile & bending strength, AS3678.

Do not go into development unless, you are certain you have sufficient cashflow or the bank is backing you. Of course, you have experience in the complete development circle would help a great deal. Check out the house & land package.. input the cost with a marketup 30%.. finally contingency of 20%.

I am doing this becoz I have 12-15 yrs of experience and I am helping my company to acquire lands, development approvals, tender and construction.. I have full access to property information, as well as consultants and agents backing me Despite my experience, I met setbacks when I was in Brisbane. Their lazy nature is killing my chicken business, heehee. If I am successful in my part time chicken business, I will be on my own (full-time) in the next 5-10yrs.. I hold 2 x 1/4 acre land within 10km from CBD.. My next target is to wait... once the population explode, I will take some actions

 

[fishbuff]

....I am doing this becoz I have 12-15 yrs of experience and I am helping my company to acquire lands, development approvals, tender and construction.. I have full access to property information, as well as consultants and agents backing me Despite my experience, I met setbacks when I was in Brisbane. Their lazy nature is killing my chicken business, heehee. If I am successful in my part time chicken business, I will be on my own (full-time) in the next 5-10yrs.. I hold 2 x 1/4 acre land within 10km from CBD.. My next target is to wait... once the population explode, I will take some actions

hey axe168, when are u going to visit brisbane again?

 

[axe168]

hey axe168, when are u going to visit brisbane again?

I am arriving on 1 Feb 2010 arrival at 7.30am and depart at 8.00pm. I have 5 meetings before heading home to Melbourne.

Oh yeah, why ask ? wana lim kopi ? Onz ! hehe

 

[fishbuff]

I am arriving on 1 Feb 2010 arrival at 7.30am and depart at 8.00pm. I have 5 meetings before heading home to Melbourne.

Oh yeah, why ask ? wana lim kopi ? Onz ! hehe

also can.

if u want to stay overnight here, my house is open to you.

 

[axe168]

also can.

if u want to stay overnight here, my house is open to you.

Haha.. thanks for the offer. My Shanghai ex-neighbour wanna come with me the next trip, he wanted to attend the meetings and look around. Maybe not the next trip. But i promise to visit your new property the next time.

Hey, watch out.. the next boom will be Brisbane ! Sit back and relax.. for the boom :-)

 

[nayr69sg]

wah! I never knew asychee posted all this back in 2009!

 

[eatshitndie]

wah! I never knew asychee posted all this back in 2009!

careful. resurrecting threads over 3 years can invite trouble from admin. anyway, isn't asychee the edmonton ex sinkie with a pinoy wife?

 

[nayr69sg]

careful. resurrecting threads over 3 years can invite trouble from admin. anyway, isn't asychee the edmonton ex sinkie with a pinoy wife?

What's the significance of resurrecting threads over 3 years? Takes up extra server space? Can Sam enlighten me on that? Or did something happen 3 years ago?

Yeah asychee is that guy in Edmonton.

 

[eatshitndie]

What's the significance of resurrecting threads over 3 years? Takes up extra server space? Can Sam enlighten me on that? Or did something happen 3 years ago?

Yeah asychee is that guy in Edmonton.

sam has been chiding forummers not to resurrect threads older than 3 years. don't know why. imo, some old threads need resurrection, such as swingstar poetic threads.

wasn't asychee and wife wanted by authorities for allegedly "victimizing" would be immigrants by over-promising job opportunties and cheap abode but under-delivering and over-charging? heard many pinay chicks were being syndicated for "underground" work in edmonton thru' the couple.

 

[nayr69sg]

sam has been chiding forummers not to resurrect threads older than 3 years. don't know why. imo, some old threads need resurrection, such as swingstar poetic threads.

wasn't asychee and wife wanted by authorities for allegedly "victimizing" would be immigrants by over-promising job opportunties and cheap abode but under-delivering and over-charging? heard many pinay chicks were being syndicated for "underground" work in edmonton thru' the couple.

I cannot refute nor verify those stories.

Everyone has a different way of looking at the world I suppose. I am too honest some would say I am "stupid". Haha!

 

[eatshitndie]

Everyone has a different way of looking at the world I suppose. I am too honest some would say I am "stupid". Haha!

as a doctor in edmonton, your honesty will carry you far in your profession. otherwise, hate to see patients visiting clinics in chastity belts and protective armor. :p

 

[nayr69sg]

I am not a doctor in Canada. As asychee would say I should "re-think" my SWOT. Haha!

 

[eatshitndie]

I am not a doctor in Canada. As asychee would say I should "re-think" my SWOT. Haha!

what a waste of your training and talent!

 

[nayr69sg]

sam has been chiding forummers not to resurrect threads older than 3 years. don't know why. imo, some old threads need resurrection, such as swingstar poetic threads.

wasn't asychee and wife wanted by authorities for allegedly "victimizing" would be immigrants by over-promising job opportunties and cheap abode but under-delivering and over-charging? heard many pinay chicks were being syndicated for "underground" work in edmonton thru' the couple.

Hey Sam, if you are reading this, just a suggestion if you don't want resurrections of 3 year old threads. Take away the "similar threads" section at the bottom of the screen. It always shows these "old threads".

 

[Leongsam]

Hey Sam, if you are reading this, just a suggestion if you don't want resurrections of 3 year old threads. Take away the "similar threads" section at the bottom of the screen. It always shows these "old threads".

If they're threads which are timeless, I have no problems with old threads being discussed further.

The ones that piss me off are those which were posted as news items at the time and suddenly appear with additional comments about something that happened 4 years ago.

 

[nayr69sg]

If they're threads which are timeless, I have no problems with old threads being discussed further.

The ones that piss me off are those which were posted as news items at the time and suddenly appear with additional comments about something that happened 4 years ago.

Well those "similar threads" at the bottom of the screen probably contribute to some of this I guess? It highlights old posts!

Regarding news items, well that's what history is.

To be fair, sometimes it is interesting to look back and see that the same problems have arisen and similar mistakes have been made and wonder what the heck is all the hot air about?