Patrick Kavanagh KRI Property Group

Canadians became less confident this month about housing and prospects for the economy amid the troubles of a Toronto mortgage lender , according to telephone polling . The Bloomberg Nanos Canadian Confidence Index fell to 58.5 in the week ending May 26. That’s down from 59.4 at the end of April, the first monthly decline in four. The share of respondents who felt home prices would rise dropped to 45.5 percent, from a record 50.1 percent this month . Sentiment has suffered after mortgage lender Home Capital Group Inc. sought refinancing after a run on its deposits, and Moody’s Investors Service downgraded Canada ’s largest banks. Toronto’s market has also shown signs of cooling after Ontario Finance Minister Charles Sousa imposed a foreign buyer’s tax to clamp down on speculation. “Recent declines in consumer confidence scores were most likely to be driven by a cooling of real estate sentiment after hitting a high in early May,” Nanos Research Group Chairman Nik Nanos said

Income properties near a Whole Foods are a safe bet, and other guides for investing.  ome people have certain criteria when they search for real estate deals , such as a 6 percent or 7 percent cap rate, or that each unit has to be under $100K. I don’t use any specific thing to tell me whether to go into a deal or not. What criteria should you use? My personal criteria begins with a G. Is it a Grant deal ? Each Monday on Grandparent I’m doing a real estate show to answer your questions and detail all of my deals so you can learn more about investing in this space. Here are some tips for you today: 1. Don’t believe the pro forma. Many brokers will give you a thing called a pro forma assuming 3 percent rent increases a year. Pro forma is about the future, but nobody has a crystal ball. If you think it, then you don’t know it . If you are into astrology, don’t do real estate. You’ll need every zodiac sign for it to work for you. In reality, I don’t even look at the pro form