How to Profit from the Next Canadian Real Estate Boom
Robert B. Shortly was a chartered accountant in Toronto.
Henry Zimmer, a chartered accountant, has become known for his books in the fields of taxation and investments. This book is a substantial revision of his New Canadian Real Estate Investment Guide, written in 1981. His basic thesis is that there will be another real estate boom in Canada. His emphasis is on investing in real property for direct profit rather than for tax savings and deferrals, which have been somewhat negatively affected by the 1981 and subsequent federal budgets. Nevertheless, via anecdotal examples from his own experiences as a consultant, the areas of tax savings and deferrals are not ignored. He discusses all the basics of real estate investment including principal residence, rental and recreational properties, holding companies, investment in the United States, financial considerations, and, as mentioned, the tax aspects.
As with all “how to” books, one cannot argue with the basic concepts: land supply is fixed but demand will likely increase, short-term prices differ dramatically from the long-term trend, borrow money wherever possible but get the best terms going, control expenses, never buy real estate unseen, and so on. Fortunately, the use of number-crunching examples and references to the role of personal values will result in the reader realizing that “how to” books at best give one some usually obvious basic concepts, a framework of analysis, and the need to get professional advice for the technical details. Because Mr. Zimmer’s writing style is very readable, even in the more technical areas, his book will be of value to those with some business acumen who are not professionals. Those professionals who do not specialize in real estate investment advice, but who have clients who from time to time become involved in this area will also find the book useful in their reference library.