Russel's Review:  Legal, Tax & Accounting Strategies for the Canadian Real Estate Investor

Hope all is well readers and you are looking forward to spring & a busy real estate season! Continuing on in my series from last year, reviewing real estate related books, I am going to be discussing a book I’ve recently read.

What is the Book?

Legal, Tax & Accounting Strategies for the Canadian Real Estate Investor by Steve Cohen & George Dube.

Who Are the Authors?

Steve Cohen is a Toronto Area lawyer and active real estate investor. George Dube is a Waterloo area accountant and also an active real estate investor.  

What Will I Learn?

The book starts off by talking about the advantages of investing in real estate. How to get started with building a successful team (ie, realtor, lawyer, accountant, lender, insurance broker, etc).

It then delves into more complex topics of legal and tax considerations on purchases. The structure of how you buy a property is almost as important as what you buy. Other topics in this section include: active vs inactive income, partnerships, joint ventures, trusts, financing considerations, etc.

The book continues on to the time period of owning a property and covers issues such as: property management from legal and tax perspective, repairs, renovations and deducting expenses such as auto and travel. It starts to conclude with a section on selling properties. It discussed how to successfully sell a property for top dollar. Tax considerations for the savvy investor to minimize taxes and also some estate planning.

Lastly, the book finishes up with a section on bookkeeping and how important it is to have solid bookkeeping and accounting as a real estate investor, and then reviews some examples of financial statements.

Why I Recommend it?

Investing in real estate is a learning experience. You’ll always make some mistakes but hopefully you can minimize them through reading resources such as this one. Also it comes from a strictly Canadian perspective which is nice and applicable to most Canadians.

My Critique?

It is a little bit dry. Not an overly fun read for the casual investor. More targeted at the more sophisticated investor with larger ambitions.

So there you have it folks. Then next book review in our series. Have any of you read this book?  What were your thoughts?

You can order a copy of the book on Amazon or Indigo. Happy reading!

Real Estate Insider: February 2019 News Report

Welcome back! This month we compiled a set of topics fit for home owners and investors alike to help you weigh your options before making some of the big decisions in real estate.


If you are thinking of investing in commercial real estate (CRE), this article does a fantastic job of laying out the basics of all aspects of CRE to help point you in the right direction. After reading this, give us a call to learn more! >>

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Don’t be surprised, be prepared! Renting Vs Buying is an age old debate. While this isn't one of those articles (it kind of is), it simply breaks down the hidden costs of home ownership that many people don’t consider when contemplating purchasing a home. >>

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Radon, the silent killer. Make sure you know if you are at risk of harmful radon gas because it is one of the most preventable cause of lung cancer there is! Read here to find out what you need to know. >>

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Your ego might like the big house, but your back and wallet won’t. Here are 6 reasons to avoid buying a large house. >>

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Do you have foreign investments and want to buy a home in Canada? This article can explain some of the hoops you’ll need to jump through and some of the calculations you need to consider before making the leap. >>

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Winter is considered the real estate “off-season” because there are less listings, less buyers, and less motivation to go out and look at houses. Read why these are the perfect reasons to buy during this time! >>

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Thinking of buying an investment property but don’t have the down payment in your bank account? Have you thought about a home equity line of credit (HELOC)? Whether you have, or you have no idea what that is, this article is for you. >>

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Ever thought of what would happen to your mortgage if you pass away? This article walks you through multiple scenarios if this question ever crossed your mind. >>

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5 tips from a lawyer to make sure you are protected in 2019! >>

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What’s going on with mortgage rates? Make sure you do your research before your next renewal so you get the best rate possible. You can start with this video! >>