Tax Saving on Steroids: Better than RRSP

Two years ago, I had a great job. I loved it. In fact, I loved my job too much.

I'd wake up at two or three am in the morning a few times a week to get some work done, while it was still relatively quiet and almost nobody else was working. I'd work through the day, and then put in a few more hours right before bed time, usually late at night, after my kids and my husband fell asleep.

I loved the job. It felt like a game. Loved solving puzzles and moving up to the next level. I was addicted. 

I was a conscientious super star at work and a dedicated WORKAHOLIC

Once, I even managed to impress the CEO and the CFO. I doubled an important business metric while holding an interim job for a quarter, in addition to my own regular job. I got a performance bonus! Hooraaah! That felt amazing!

Extremely shocked was I when only half of the bonus got deposited to my checking account. How could that be?

The answer was simple: Taxes.

Blinded by Success

Blinded by Success

That was the first time I actually noticed the impact taxes made on my net pay.

That same year happened to be the year of the highest earnings I ever achieved being a full time employee. I was really proud to be in a high marginal tax bracket.

Taxes didn't hurt. On the contrary, I was certain that it was a good problem to have:

The amount shown in Box 22, Income Tax Deducted, Line 437 of my T4 slip felt as a badge of honor.

I felt successful.

That year I finally saw the benefit of contributing to RRSP. At the very last minute just before RRSP contribution deadline,it occurred to me that for whatever contribution I can make, I'd get almost half of the money back as a tax refund.

For every RRSP dollar that'd be deducted out of my earnings, I would put 50 cents of tax refund back into my pocket

Wow. I got cash advances on several credit cards and took some money out of my TFSA and made my first ever RRSP contribution, which ironically became my last RRSP contribution as well.

Bingo! A couple of months later, taxes were filed and almost half of my contribution came back. I paid back the cash advances. "Wow! I rock," - I thought looking at my RRSP savings.

Unbearable Tax Burden

Stressed. Depressed. Overworked

Some time has gone by. It became obvious that I couldn't keep working 16 hours a day. I was exhausted. Tired. Depressed. Rock bottom was approaching fast.

I remember the day when I gave up.

I was driving to work in the morning. This was the forth 20-hour day in a row. Tears were running down my face.

Why am I even doing it to myself?

Is it worth it?

The recent performance bonus felt like a mean prank now.

I felt like a failure. I knew that this was the end of my career. I didn't make it to the top.

I thought again about my performance bonus slashed in half by tax and many thousands of dollars of tax I paid that year to CRA.

I thought about 50 cents deducted from every dollar. 

50 cents from every dollar that I made during those horrific 20-hour long days and short four hour nights when my dreams were a continuation of the previous day's train of incoming emails, never-ending meetings, and insurmountable workload.

Every minute my brain kept persistently telling me "Why are you doing this to yourself? Stop! It's not worth it"

Finally I heard my own subconscious scream for help. I knew I wouldn't last until retirement at this pace. I'd just collapse. This wouldn't be the first time when I'd have a break down and have to take a stress leave to recuperate.

Enough! I am not going to drive myself into the ground. I gave my notice and quit working.

The Best of The Two Worlds: High Income, Little Tax

The irony is that if I worked smart, rather than hard, I would have had time to learn that there were ways to minimize tax. 

I could have had the best of the two worlds: high paycheque and little tax.

Alas, I missed my chance.  I am sharing my knowledge with you, a successful high income earning employee, who works smart at a fun interesting job and wants to find a way to pay less tax.

The Best of The Two Worlds: High Income, Little Tax

This is all legal. This is all risky. You should do your own research, due diligence, etc. and check with your accountant. 

The steps are simple in this Tax-Optimization Strategy:

1. Work smart, earn a LOT and get into high (or preferably highest) marginal tax bracket
2. Invest in a flow-though fund that's eligible for up to 100% tax deduction and get a tax refund, which basically reduces your capital at risk by 50%
3. Convert your income into more tax favourably taxed capital gains, essentially reducing tax by 50%.

A sample calculator and a detailed example of how flow-through fund works can be found at Maple Leaf Short Duration Flow-Through fund website here. 

I am a big proponent of tax saving strategies. I was thrilled when I learned about this flow-through tax optimization and investing strategy a few weeks ago. 

Certain alternative energy projects
are qualified to issue flow-through shares

Keep in mind that the window to invest in flow-through shares is very short: late fall to early December.

If you'd like to discuss or learn more about this topic, please send me an email or post below. All questions, feedback, ideas are welcome. 

When Frugality Fails

Being a landlord can feel EXTREME

Earlier this month, I started feeling as if

someone somehow 

made 

the God of Appliances 

MAD

Every time I picked up the phone, I heard one of my tenants deliver the bad news.

It started on Sunday morning.

Ring-ring. My fridge stopped working.

Monday morning. Ring-ring. My dryer stopped working.

Monday evening. Ring-ring. The washing machine doesn't drain.

At that point, I made a strategic decision of letting the phone ring and go to voice mail, while I was sorting out all these appliances issues.

Luckily, this was it for the time being!

Extreme Efforts Being Frugal

Most properties I get, come with appliances and in most cases they are pretty old. Hence, I expect at least some of the appliances would break fairly soon after the purchase.

In the past, I always looked for a used appliance to replace the broken one. I thought this was the most cost effective approach.

For two to three hundred dollars, I could find a decent used washer, dryer, stove or whatever needed. A new appliance would be about $500, almost twice more expensive.

With a used appliance, I also had to figure out a way to deliver it to the tenant, get it installed, and get rid of the old broken one.

Luckily, my husband is quite handy and could help with most of this.

This is How We Did It

I'd find the most affordable decent used appliance and negotiate the price.

Then, coordinate child sitting, so we can free up either a Saturday or a Sunday.

Our weekends are packed with our youngest son's Russian lessons, music, hockey, and occasional birthday parties.

Our youngest son is nine and the oldest is almost 19. My parents and my-in-laws have 6 grand kids each. They used to be eager and excited to babysit the oldest couple of grand kids.

Let's be honest, after 19 years on grand-parents duty, I can't say any of the grand-parents are thrilled when I ask them to spend a day driving grand son #6 back and forth, trying to bribe him with just the right amount of doughnuts, chocolate milk, and chips as he goes through a back to back list of all sorts of developmental activities and sports.

Having said that, more often than not, our parents still agree to help us out.

Childcare arranged - Yay!

Next, we'd borrow our friends' mini-van. Our friends have three kids of their own. So this is a hassle for them as well. They have to move car seats, strollers, and downsize their life for the day every time we need to borrow their car.

I'm grateful every time they help us out! To thank them we always bring back their car with a tank-full of gas.

Transportation Arranged - Yay!

The following step is to make an appointment with the tenants, at least 24-hours ahead. This is usually the easy part since the tenants look forward to getting a working appliance.

It has to be on the weekend, though! Because my husband has a day job. All this investing jazz is happening after hours and on weekends.

Tenants on Standby - Yay!

On the day of, usually a Sunday

1) Wake up early in the morning, seven-ish

2) Get Starbucks, it's going to be a long day!

3) Pack and drop off the child

4) Give extremely-detailed-instructions to the grand-parents about all the activities they have to tackle including a back up plan in case the child is in a whiny mood

5) Get the mini-van from our friends

6) Pack all tools and hardware

7) Remember to take the key, in case tenants aren't home

8) Go and get the appliance from the seller, typically someone I found on Kijiji

9) Drive to the tenant, either to Barrie or Guelph

10) Attempt to install the appliance

11) Find out that something doesn't work or is missing - pipes, outlets, drains, narrow doorway. It's guaranteed that something is going to be messed up or in our way.

12) Go to the hardware store for the parts and tools, minimum twice

13) Finish appliance installation super-late in the evening

14) Roll out the old appliance to the curb. Comply with local city and safety rules (ex., if it's a fridge, take off the door!)

15) Get fast food. We are super hungry and done with all the snacks by this time

16) Drive back to Toronto. No traffic on the way back - Yaaay!

17) Fill up the tank and return the mini-van

18) Pick-up the child from the parents

19) Go to bed at two or three am

20) Wake up four hours later

The job is done! Yay!

How Much Money-Wise?

With do-it-yourself approach, we'd pay about $300 for the used appliance, $50 for gas, $80 for a full tank of gas as a Thank You to our friends, get coffee, fast food and realize one out of every four new used appliances would break within several months after purchase and we'd have to fix it.

In summary, used appliance would cost about $600, while a new one would be about $800.

	Used Appliance	New Appliance
Appliance	$300.00	$500.00
Delivery	$-	$100.00
Installation	$-	$200.00
Starbucks for Two	$12.00	$-
Fast Food for Two	$20.00	$-
Gas & gas re-fill	$130.00	$-
Fix New Used Appliance	$132.50	$-
Total $ Cost	$594.50	$800.00

How Much Effort-Wise?

In addition to dollar cost, we'd need to collaborate with and inconvenience a whole bunch of family and friends to coordinate appliance re-placement.

Collectively, we'd spend over 150 hours either putting in heroic efforts AND/OR sacrificing our weekend.

The result would be subpar. After all this time invested, our old new appliance will likely break soon or stay functional for just a couple more years. So we'd need to re-group and fix it again!

People Involved	Do It Yourself Delivery /Install	Professional Delivery/Install
Grandparents @ 12-14 hours	2	0
Child @ 12-14 hours	1	0
Friends @ 12-14 hours	5	0
Husband @ 12-14 hours	1	0
Self @ 2-4 hours admin work	1	1
Self @ 14-18 hours inspiring my husband to put in heroic efforts over the weekend	1	0
Handyman @ 2-3 hours	0	1
Tenants @ 3-6 hours	2	2
Total # Participants:	13	4
Total Time Needed from everyone involved	128 to 156 hours	8 to 16 hours

With PROFESSIONAL help,
being a Landlord feels smooth

Landlord Job gets Easier with Professional Help

As my portfolio grows, appliances issue come up more and more frequently.

Sometimes, as often as three times a day!

My friends and family will NOT want me to hijack all their weekends, so that I can save $200 on an appliance.

I will never see my son again, if spend all my time trying to get and install cheap used appliances.


Also, my husband would very likely ask for a divorce if I queue up appliance deliveries and other handyman work for the next three-four-five weekends in a row...

Lately, I always go for NEW appliances and pay for PROFESSIONAL delivery and installation. 

This is the ONLY way I can scale to 50 doors.

Vacancy: Landlord's Worst Nightmare

Vacancies Keep me Awake at Night!

A few days ago we filled our last vacancy.

What a Relief!

The search took about three weeks. Our property manager began advertising the unit on November 19th. 

We started with $1,650 asking price, which was higher than the average for similar units in the area. There were barely any inquiries at that price. 

December and January are typically slow months for tenant search. People are busy with holiday prep and after holidays they go into hibernation-mode for the remainder of the winter. I was worried that we'd have a vacancy until Spring.

Vacancies Keep Me Awake at Night

The reason I am so afraid of vacancies is because they are very costly. Every month of vacancy, I'd have to come up with money to pay the mortgage, property taxes, utilities and, in case of this specific property, property management and condo fees as well.

Ouch!

Typically, they recommend that you include 2-5% vacancy fee in your cash flow calculations.

Given 5% vacancy, my annual cash flow would be $1,280. Or $100 a month.

In reality 5% only works if you manage to go without vacancies for a while. Actual losses are a lot higher!

For example, my annual loss for a year with one month of vacancy is about ($1,660). That's because:

I will not get a month of rent of $1,600
Pay about $300 for the utilities during that month
Pay about $2000 for tenant search and making the unit ready - fresh paint, minor fixes, etc. add up
Pay all regular expenses of $16,960...

If my property is vacant for two months, the loss will be ($3,560).

With three months of vacancy, I'd lose ($5,460).

Once I do find a tenant, it will take a l-o-o-o-o-o-o-o-o-o-o-o-o-ng time to catch up.

I'd need the tenant to stay for almost 2 years, to catch up after one month of vacancy.
The tenant will have to stick for over 3.5 years to catch up after two months of vacancy.
Lastly, the tenant will have to stay for almost 6 years, to fully catch up after three months of vacancy.

My math is simplified, of course. I don't take rent increases into account at all, for instance. Still, you get the idea why I hate vacancies. Vacancy losses are horrific.

The danger is on the flip side as well. If you rush and get a BAD tenant, you can end up with thousands and thousands in losses... See my blog post here for details - My $30,000 Mistake.

Here is a chart with the numbers in my examples above:

	Projected: 5% Vacancy	Actual:    1 month    Vacant	Actual:     2 months     Vacant	Actual:     3 months     Vacant
Gross Rent	$19,200	$19,200	$19,200	$19,200
Less Vacancy	($960)	($3,900)	($5,800)	($7,700)
Rent Income	$18,240	$15,300	$13,400	$11,500
Expenses
Financing Cost	$6,860	$6,860	$6,860	$6,860
Condo Fee	$5,304	$5,304	$5,304	$5,304
Property Taxes	$1,961	$1,961	$1,961	$1,961
Other	$1,200	$1,200	$1,200	$1,200
Property Management	$1,094	$1,094	$1,094	$1,094
Insurance	$540	$540	$540	$540
Total Expenses	$16,960	$16,960	$16,960	$16,960
Net Profit (Loss):	$1,280	($1,660)	($3,560)	($5,460)

Success! Got a Great Tenant

Needless to day, the pressure was on.

We lowered the price by $50 to $1,600. Luckily, the interest picked up! 

The ad generated over 230 views, 15 inquiries, three viewings, and a great application on December 9th. 

Our property manager uses Naborly for tenant screening. I've never seen a Naborly report before and was quite impressed. The multi-page document covered most of the information that I typically review for a candidate and gave some additional insights. Here is what the report covered:

• General info about all occupants
• Previous addresses and address verification
• Equifax credit summary and score
• Debt summary including monthly debt payments
• Rental history
• Financial information
• Employment history
• Analytics showing the likelihood of key tenancy risks (late payments, eviction, property damage) 
• Analytics showing the likelihood of a successful tenancy during the entire term.

Our property manager also collected a photo ID, a full credit report, and a letter from the employer. They conducted a face-to-face interview and verified employment and personal references. My property manager summarized their findings including possible risks.

I reviewed all the information as well and did my own due diligence. I typically research every piece of factual information and make sure all facts align and make sense. The way I do it is very simple: research every name, every address, every company name, every email, and every phone number that the candidate provided; look in Google and on all social media platforms; contact all references and chat with them; verify income.

In this case, all checks were successful. I accepted the application and to my delight, the tenant confirmed that they'd like to go forward as well.

No Vacancies!!!!!
Overwhelmed with JOY and
will definitely sleep like a baby :)

The property manager impressed me very much! This was the first time when they found a tenant for me and I loved how smooth the tenant on-boarding process was. 

As soon as this last vacancy was filled, I started sleeping like a baby again! 

How Two Families Got Richer

Miss my car, but don't miss spending ~8K a year 

Over the past 5 years, I've been adamant about eliminating liabilities.

Here is the theory:


Liabilities take money out of your pocket.

The more liabilities you get rid of, the more money you keep for yourself.


Every dollar you keep, you can put to work by acquiring assets.


Assets put money in your pocket.


Once money from your assets cover your needs, you are financially free.

Hence, eliminating liabilities expedites your financial freedom

Easy! Right?

Not really!

It took me over five years to make the decision to get rid of one of my biggest liabilities - my car! 

In Love with My Car

In love with my car

My husband and I knew precisely the cost of owning two cars. Yet we hesitated. We had a lot of questions: do we really need both cars? can we do with one car? how much extra time will we spend on logistics if we were to get rid of one of the cars? which of the cars we keep? how much can we save?

Most of uncertainty and hesitation came from the fact that my car was really important to me. I loved it! It was an integral part of my life.

It was hard to imagine not having my own car. I was used to being free to go whenever and wherever I want.

Managing our properties, driving kids to schools and sports, visiting our parents, getting tons of food from Costco, etc. all required a lot of driving. My husband and I often had to be in two or three different places at once. Eliminating one of our cars would cause a lot of stress and cost time.

After discussing pros and cons, we always came to the same conclusion: we had to keep both cars.

Even though I knew my car was an expensive liability, I loved it too much. I couldn't let it go.

Annual Car Cost = Seven Weeks Working 

It's been taking a TON of money out of my pocket. In 2018, relevant  expenses added up to $7,878:

Costs	Amount
Gas	$3,473
Insurance	$2,435
Fixes	$1,507
Parking	$463
Total	$7,878

At 17% tax rate, this equals $9,492 of pre-tax money.

An average family with 73.7K annual household income has to work for over seven weeks to earn enough money to cover this liability. This is a recurring expense, so it's not just a one time seven week work project. You'd have to work for seven weeks every year to pay for all the car expenses expenses that year.

Time for Change

All good things must come to an end

This year our personal situation changed.

Our oldest son moved out.

Our middle son became fully self-sufficient. He prefers TTC.

I work from home most of the time.

My husband takes train to work.

We noticed that both cars are parked and idle during most of the time.

The next step was obvious. No more hesitation. We no longer needed two cars. Time to sell!

My Ex-Car is now an Asset

Once we made the decision, selling was easy. We found a buyer on Kijiji.

What I loved the most was that he turned the car into an Uber! It's now an asset and is putting money into the buyer's pocket.

One transaction made two families a little bit richer:

My family got rid of a liability. We now keep more money for ourselves.

The buyer's family acquired an asset, which puts money into their pockets.

Discovery of the Year: Passive Income Exists! and why I say so

Lo-o-o-o-o-ng road to Financial Freedom

Up until very recently, I thought that 4% return on your money was a GREAT deal.

In fact, I believed that anything better than 4% was most likely a SCAM.

Given this information, my freedom seemed practically-unattainable:

My financial freedom was THREE MILLION dollars away

3 million @ 4% = $120,000 / year = $10,000 / month

Imagine, how HAPPY I was when I learned that there are 

NUMEROUS LEGITIMATE WAYS

to make more than 4% on your money! 

How about 6%, 8%, 12%, 17 % or even 20+%?!?

With higher returns, the path to financial freedom is much shorter! 

For example, at 8% return, financial freedom is

1.5 million away:

1.5 million @ 8% = $120,000 / year = $10,000 / month 

Discovery of Private Exempt Market

During summer, I started investing in what is called private exempt market. I learned about this type of investing from a good friend, whom I met at a networking event about a year ago.

Investing means lending your money to someone who will use it to create value and pay you your money back with a profit.

You have to remember that investing can be risky - you can lose time, money, go through a load of stress, etc.

This is why there's a whole slew of regulation around investing in private exempt markets, which is in place to protect consumers (aka you and me) from making bad decisions and getting themselves into financial trouble.

Private market means all non-public businesses, from mom-and-pop-shops to huge private enterprises.

Exempt means that there are rules for investing into these private deals.

You have to meet one of the exemptions to qualify. 

These exemptions are governed by law. Their purpose is to protect the consumers from financial losses, which they can't withstand.

Up until a couple of years ago, only accredited investors were qualified to invest in private exempt market and private companies could not advertise investment opportunities to non-accredited investors.

Accredited investor is someone who meets at least one of the following criteria:

• Earns more than $200,000 per year before taxes
• Together with spouse, earns more than $300,000 
• Owns more than $1 million before taxes of financial assets but net of related liabilities
• Owns more than $5 million of net assets 

Needless to say, the whole concept of private exempt market was invisible / forbidden / unattainable to average middle class professionals because most of us don't qualify as an accredited investor, so we fall under the protected class.

I personally had no idea about these deals. Protection worked :)

The Good News!

The good news is - the legislation was updated and we now qualify and can learn about investing in private exempt market. 

Here is the recently added Eligible Investor exemptions:

1. Owns $400,000 or more net assets
2. Earns more than $75,000 per year before taxes 
3. Together with spouse, earns more than $125,000 

Lastly, there is one more exemption - Any Investor!

Legislation still protects us by setting the limits of how much Eligible and Any Investors can invest.

Yet, we all now have an opportunity to invest into many of the same deals that accredited investors have been investing into. And I bet, most accredited investors wouldn't be too thrilled investing into something like this, which I constantly see in my Facebook feed:

This is NOT a good deal.
Hope you aren't clicking on ads like this one...

My First Two Assets in Private Exempt Market

11% vs. 3.2% - Gets You There Faster!

I invested in two private exempt market deals so far. Here are the key reasons why I chose them:

1) Like the horse and bet on the Jockey 

• I educated myself about the details of the project and understood it. I checked with people who are a lot smarter than I will ever be.
• I am very clear about the business model, project plan, exit strategy, and underlying securities 
• Most importantly, I verified the track record of the Jockey. I know that they’ve done what they are about to do over and over and over and over again successfully. 

2) Operating within my comfort zone

• Using RRSP money, which will not be available to me anyways for a couple more decades 
• NOT putting all my life’s savings into a deal all at once - I allocated two chunks and spread them across two independent projects 
• Selected projects within the real estate niche, which I'm familiar with
• Am comfortable with the timeline and the fact that my money will be locked for 3-5 years

3) Trust but verify

I chose one asset with frequent cash distributions and another one with higher return and longer waiting period.

The former pays investors quarterly. I chose it because I wanted to see how the asset works start to finish, before looking for any other deals.

I got my first quarterly deposit! Over $900 dollars - a single quarterly payment covered my family's internet for an entire year. Not bad!!!

The best thing is this income was purely passive.

I can imagine how much work it has taken the private business to generate this return.

For me, it is truly passive - zero effort - 11.06% annualized return.

Now, that I've completed this small proof of concept, the sky is the limit :)

Hope this blog post helps.

I wonder if you knew these deals existed and 6, 8, 10, 17% or 20+% passive return was achievable? 

What was your experience? 

Feel free to leave a comment below! 

Can't Afford Financial Freedom? Start with these THREE Steps

Overcoming the No Money Hurdle.
This is how I feel when I need to finance a new deal.

I recently sent out a 2-minute survey about financial freedom. If you haven't responded, feel free to  fill it out HERE -  it's fun, super-quick, and your response will help me understand what's important to you.

It'll also give you a moment to think about your personal financial goals.

One of the survey questions was:

"What's holding you back from reaching financial freedom?"

So far, the top-most response with 58% vote is:

"I can't afford it. Not enough money" 

I thought it would be helpful if I gave you the exact steps I followed to finance my real estate assets. This approach worked for me over a dozen times.

Step 1: Acquire an Asset not a Liability 

An asset puts money in your pocket. A liability takes money away from you. 

Assets are easier to finance than liabilities. 

By definition, assets make money and, hence, provide a less risky security for a prospective lender.

A typical A or B lender always makes money, no matter if you pay your mortgage or not:

• If you pay mortgage, they make a LOT of money (see my previous blog post - Mortgage Free by 2023).

• If you stop paying your mortgage, the lender can collect the rent instead of you. This is why many lenders require a current lease agreement, so that they have a way to verify how much income you collect from the asset. This gives them a method to make money, even in the worst case.

• In case of default, the lender can choose to sell your property. If your property makes money and is priced under market, there will be lots of buyers - the sale will be quick and easy. This is why most lenders will also require that an appraiser they approve off, provides a current market assessment and confirms the market value of the property. The bank will only finance up to 65-80% of the value. 

On the flip side, all your liabilities add up and play against you. You may be able to get financing for the first few real estate properties, which are not cash positive, if your personal income can support paying for them. However,

• Most traditional lenders will turn you down, if your debt service ratio is worse than 44%. This means that at the most, 44% of your income has to be enough to cover all your interest, tax, and heating payments. 

• When you go after liabilities, you reach this 44% ratio very fast. As soon as that happens, most traditional lenders stop giving you money. Your strategy becomes too risky for them.

Keep in mind that you can usually find more creative ways to finance the deal. However, in my experience, creativity usually is expensive. You have to get more expensive money from lenders who don't mind extra risk or trade equity for money. Either way, mathematically there is a point at which financing cost turns your property from an asset into a liability - you start losing money.

Long story short - getting financing for assets is a LOT easier and more affordable than getting financing for liabilities. 

My recommendation is to focus only on assets and stay away from liabilities. 

Step 2: Play by Lenders' Rules 

There are numerous lenders out there. Each lender has their unique underwriting rules and procedures. These are similar on a high level, yet minor nuances sometimes make a big difference. You might not qualify with some of the lenders, but be a perfect candidate with others.

Underwriting is the process by which a lender determines whether you qualify for a mortgage or a loan with them. Knowing how the underwriting process works is half the battle.

Hence, it's beneficial to work with an expert who knows this process inside out and can help you navigate through the mortgage application, and position you properly with the lenders, where you have the most chance. It's similar to resume writing and interview process - a good mortgage broker can help you with your money resume and your money application.

If you don't qualify at the moment, an expert mortgage broker can explain to you what may be missing. This way, you can plan your next step and work your way to your next deal. Alternatively, knowing what is missing, you can find ways to partner with friends, family, or third parties to fill in the blanks and make the deal work. Understanding lenders' rules gives you a chance to structure your deal correctly and make things work.

Financing is a repetitive task. At the minimum, you have to review financing for each asset every 5 years. When you build your portfolio aggressively, financing becomes a never-ending ongoing task.

You are always looking for money. You are always looking for ways to replace expensive money with more affordable money. Every time you find cheaper money, your cash flow goes up. 

Financing mistakes are costly. In my experience, each finance/re-finance transaction ends up costing at least $7,000 on a small residential deal. On an ongoing basis, my regular mortgage payment is often just under 50% of gross rent.

It makes sense to have a good partner on financing side of things. The last three transactions that I completed were possible thanks to the help I got from the Loan Central team. 

If you are in GTA and access to money is your biggest hurdle, give Loan Central a call! It doesn't cost you anything to ask the question. You could also drop in and attend one of their weekly meet ups. I've attended several and found lots of great FREE information and connected with a few like-minded people.

Here's Loan Central's contact info. They helped me multiple times.
If you have financing related questions, ask them!

Step 3: Be Extremely Organized 

No matter how many assets you plan to acquire - one, two, ten, 50, or a 100, stay organized.

On many occasions, lenders, mortgage brokers, and money partners complimented me on giving them the information they needed quickly and in the format that was easy for them to follow.

Lenders typically need a lot of information to complete their underwriting process and determine whether you qualify for a loan with them.

The way you present the information and its accuracy makes it easier or harder for lenders to make the decision.

It's in your best interest to make your application to be as easy to evaluate as possible.

• Provide complete accurate information 
• Double check all numbers against supporting documents before you submit information
• Make it a rule to keep track of information on a regular basis - after all, making money is what you are after. 

You will make MORE MONEY, if you keep track of it.

This is how I feel
EVERY TIME
when I finalize financing for a new deal

Here is a link to download my Excel tracking template. If you'd like it FREE, please email me and ask me to email my sample Excel portfolio template back to you. I'll respond as quickly as I can.

Here's an old blog post on what sort of documents you'd typically be asked to provide when you apply for a mortgage.

Hope you find this blog post helpful. If you have any comments or questions about money, please leave me a comment below.

PS You also might be wondering how you can come up with a down payment. That'll be in one of my future blog posts. Please stay tuned.

The Beauty of A La Carte Property Management

Loving A La Carte Property Management

A friend of mine runs an amazing property management company – they offer on demand white glove property management services. I call it a la carte property management.

I think this service is amazing. In fact, it’s just perfect. I tried it last month on one of my rentals and absolutely LOVED it.

To start, let me share my view on traditional property management and some challenges that I've come across.

This will help me explain why I am so excited about a la carte property management!

The Pains of Traditional Property Management

Traditionally, property managers charge a percentage of gross rent per month. Usually, somewhere between 5% and 8.5% of your gross rent. For example, if you rent a unit for $1,500, you’d be paying around $100 a month to the property manager. You pay based on proforma, not actual, i.e whether or not your tenant pays rent, you still pay your property manager.

Given a skinny average cash flow of $200 per unit, property management could easily take away half of your cash flow. So instead of getting $200 a month in your pocket and self-managing the unit, you’d be getting $100 a month from the unit when you outsource property management.

The biggest benefit of hiring a property management company is that your property manager becomes the point of contact for your tenants, instead of you. You never see, communicate with or hear from your tenants. Your tenants contact your property manager with all their questions and issues. The property manager coordinates issue resolution, gets your approval on costly items, and sends you an invoice at the end of the month. This invoice includes:

• Property management fee of 5 – 8.5% 
• Cost of labour to resolve issues
• Cost of materials to resolve issues

Traditional Property Management can get Ugly

Here are some examples of what is not included in the property management fee and will be added as an extra line item on your invoice:

Painting / cleaning / making unit ready for a new tenant, plumbing issues, snow/grass care, new tenant search, sending an eviction notice to a non-paying tenant, representing you at the landlord and tenant board, fixing a broken screen on a window, etc. 

Basically, everything is extra with the exception of:

• rent collection 
• the contact phone / email that your tenants get to call when they need help
• in some cases, annual rent increases. In my case, I have to remind my property manager about these.

In theory, this model works great for hands-off investors. You pay someone else to take care of your property and your tenants. You pay the invoice to cover all associated costs. You trust your property manager to do a great job and believe they will act in your best interests. You sleep great at night and can spend your time doing something more exciting than answering your tenants’ calls.

However, in my experience so far, the model seems to fail frequently. 

Some property managers that I’ve run into would let your unit stay vacant for many months. They wouldn’t put in any effort into collecting rent. 

They’d procrastinate for many-many months keeping issues that are important from owner stand-point in their waiting queue, and decide that it's not necessary to address these issues at all. 

They’d find a gazillion excuses and explanations of why some issues cannot be addressed or addressed timely. 

In the meantime, your have zero interaction with your tenant and practically no insight into what is actually going on at your property - you are at the mercy of your property manager. 

While you are becoming more and more frustrated with how things are going, the property manager still collects the monthly fee.

And the issues that are bothering you and costing you time and money still remain open, adding up to hundreds and sometimes thousands of dollars.

The Beauty of A La Carte Property Management

The way on demand property management works is very simple.

You run your property the way you like. You keep in touch with your tenants. When you need an extra set of hands or an expert to do a certain property management or tenant management task, you pay for the service.

There is no monthly fee. You pay as you go.

In my case, I have a triplex in Guelph. My monthly gross rent is $3,126. I have long term tenants in two units. They are great tenants and rarely have issues or requests. They keep an eye on the property and bring up issues that need my attention. We have a great relationship. There is really no need to hire a property manager to manage these two tenants.

The third unit has higher turnover. My last tenant was a young professional. He bought his own place and moved out. I needed to find a new tenant. 

The property is about an hour away from my place. I have so much going on that I really had no time to clean, freshen up the unit, market it, screen applicants, etc.

In addition, I recently re-financed the property and pulled out most of the equity. As a result, my cash flow is barely positive. Every penny counts. There is no room for an ongoing property management cost.

Hiring a traditional property management company doesn’t feel right and, frankly speaking, isn’t cost effective.

A la carte property management, on the other hand, is just perfect.

What I needed was:

• Great team to freshen up the unit and get some work done - mainly cleaning plus repair a couple of minor things
• Expert marketing and advertising - respond to numerous requests timely
• Run an open house for all interested applicants and show the unit
• Complete applicant screening, reference / background checks, etc.
• Help me choose a great new tenant.

This was exactly what I got! It took them under a week. I got a great price. 

I loved the experience and the result:

Feeling Happy!

Zero vacancy.
Perfect new tenant.
No ongoing cost.
Got exactly the services I needed when I needed them.

Would you like to try a la carte property management? 

Ping me in comments below, if you’d like a referral to my friend’s firm. They are based in Toronto and serve a pretty wide radius. 

A la carte property management also works great for 2nd homes and cottages. For example, you can outsource your Spring / Fall routine to a professional property manager. 

Mortgage FREE by 2023

Ready, set... where to?

This month I started my FAST AND FURIOUS mortgage pay down, on my primary residence.

Based on the theory that I’m following, my home is my liability. It’s taking money out of my pocket every month. Mortgage payment is a huge portion of my monthly expenses.

What I learned a while ago, yet am just now starting to realize for myself – is that you don’t have to pay mortgage for the next 25-30 years. You can be mortgage FREE much faster and often with minimal additional hassle.

I have $339,089 left on my mortgage and 23 years to go. I'll be mortgage free by 2041. The year I turn 60. Long way to go. This is my Status Quo.

Luckily, I have a plan B, my new FAST AND FURIOUS mortgage pay down plan.

So, let the adventure begin.

1. I transferred $14,063 payment from my line of credit towards the principal
2. I thought "Wow, that was easy!"
3. I checked: My outstanding amount has dropped to $325,026 and only 21 years more to go.

By the way, here's an Excel tool that I now use to do all my numbers when it comes to planning accelerated mortgage pay down and tracking my results. It simplifies the process a lot!

It works! It's this simple!

Now, over the next few days, I'll redirect all my day-to-day incoming and outgoing payments to the credit line account. This will ensure that the 14K I've borrowed will get paid down as fast as possible from miscellaneous left-overs. Line of credit balance over a short time will cost me a reasonable amount of interest, especially if you compare to the amount of interest I'd have to pay, if I stayed with the traditional pay down schedule.

To see the full impact of accelerating mortgage pay off - scroll down. This is the maximum acceleration I can get. It will likely require me to be frugal and creative.

It's my own choice to go at the fastest speed. Everyone's situation is different, and you can choose the speed that you feel the most happy about. If you need help or have a question, let me know.

There are ways to be mortgage free fast, without putting yourself under a lot of pressure. Someone just needs to show you the way.

You need to work with a great partner. Ask me about it in the comments if interested and would like a referral.

Below is my status quo and my new plan. I'm curious to find out - What your plan is? 

MY STATUS QUO

Please scroll down to the bottom of the table. I have a point....

Let's see where I'll be in 2041

Age	Period	Payment Date	Principal	Interest	Total Interest	Balance
37	1	05-Oct-18	$388	$407	$407	$338,700.91
37	2	19-Oct-18	$389	$406	$813	$338,312.36
37	3	02-Nov-18	$389	$406	$1,219	$337,923.34
37	4	16-Nov-18	$389	$405	$1,624	$337,533.86
37	5	30-Nov-18	$390	$405	$2,029	$337,143.91
37	6	14-Dec-18	$390	$404	$2,433	$336,753.49
37	7	28-Dec-18	$391	$404	$2,837	$336,362.60
38	8	11-Jan-19	$391	$403	$3,241	$335,971.24
38	9	25-Jan-19	$392	$403	$3,644	$335,579.41
38	10	08-Feb-19	$392	$403	$4,046	$335,187.11
38	11	22-Feb-19	$393	$402	$4,448	$334,794.34
38	12	08-Mar-19	$393	$402	$4,850	$334,401.10
38	13	22-Mar-19	$394	$401	$5,251	$334,007.39
38	14	05-Apr-19	$394	$401	$5,652	$333,613.21
38	15	19-Apr-19	$395	$400	$6,052	$333,218.56
38	16	03-May-19	$395	$400	$6,452	$332,823.43
38	17	17-May-19	$396	$399	$6,851	$332,427.83
38	18	31-May-19	$396	$399	$7,250	$332,031.75
38	19	14-Jun-19	$397	$398	$7,648	$331,635.20
38	20	28-Jun-19	$397	$398	$8,046	$331,238.17
38	21	12-Jul-19	$398	$397	$8,443	$330,840.67
38	22	26-Jul-19	$398	$397	$8,840	$330,442.69
38	23	09-Aug-19	$398	$396	$9,236	$330,044.23
38	24	23-Aug-19	$399	$396	$9,632	$329,645.30
38	25	06-Sep-19	$399	$395	$10,028	$329,245.89
38	26	20-Sep-19	$400	$395	$10,423	$328,846.00
38	27	04-Oct-19	$400	$394	$10,817	$328,445.63
38	28	18-Oct-19	$401	$394	$11,211	$328,044.78
38	29	01-Nov-19	$401	$394	$11,605	$327,643.45
38	30	15-Nov-19	$402	$393	$11,998	$327,241.64
38	31	29-Nov-19	$402	$393	$12,390	$326,839.34
38	32	13-Dec-19	$403	$392	$12,782	$326,436.56
38	33	27-Dec-19	$403	$392	$13,174	$326,033.30
39	34	10-Jan-20	$404	$391	$13,565	$325,629.55
39	35	24-Jan-20	$404	$391	$13,955	$325,225.32
39	36	07-Feb-20	$405	$390	$14,345	$324,820.60
39	37	21-Feb-20	$405	$390	$14,735	$324,415.40
39	38	06-Mar-20	$406	$389	$15,124	$324,009.71
39	39	20-Mar-20	$406	$389	$15,513	$323,603.54
39	40	03-Apr-20	$407	$388	$15,901	$323,196.88
39	41	17-Apr-20	$407	$388	$16,289	$322,789.73
39	42	01-May-20	$408	$387	$16,676	$322,382.09
39	43	15-May-20	$408	$387	$17,063	$321,973.96
39	44	29-May-20	$409	$386	$17,449	$321,565.34
39	45	12-Jun-20	$409	$386	$17,835	$321,156.23
39	46	26-Jun-20	$410	$385	$18,220	$320,746.63
39	47	10-Jul-20	$410	$385	$18,605	$320,336.54
39	48	24-Jul-20	$411	$384	$18,989	$319,925.96
39	49	07-Aug-20	$411	$384	$19,373	$319,514.89
39	50	21-Aug-20	$412	$383	$19,756	$319,103.33
39	51	04-Sep-20	$412	$383	$20,139	$318,691.27
39	52	18-Sep-20	$413	$382	$20,521	$318,278.72
39	53	02-Oct-20	$413	$382	$20,903	$317,865.67
39	54	16-Oct-20	$414	$381	$21,284	$317,452.13
39	55	30-Oct-20	$414	$381	$21,665	$317,038.09
39	56	13-Nov-20	$415	$380	$22,045	$316,623.55
39	57	27-Nov-20	$415	$380	$22,425	$316,208.52
39	58	11-Dec-20	$416	$379	$22,804	$315,792.99
39	59	25-Dec-20	$416	$379	$23,183	$315,376.96
40	60	08-Jan-21	$417	$378	$23,561	$314,960.43
40	61	22-Jan-21	$417	$378	$23,939	$314,543.40
40	62	05-Feb-21	$418	$377	$24,316	$314,125.87
40	63	19-Feb-21	$418	$377	$24,693	$313,707.84
40	64	05-Mar-21	$419	$376	$25,069	$313,289.31
40	65	19-Mar-21	$419	$376	$25,445	$312,870.28
40	66	02-Apr-21	$420	$375	$25,821	$312,450.74
40	67	16-Apr-21	$420	$375	$26,195	$312,030.70
40	68	30-Apr-21	$421	$374	$26,570	$311,610.16
40	69	14-May-21	$421	$374	$26,943	$311,189.11
40	70	28-May-21	$422	$373	$27,317	$310,767.56
40	71	11-Jun-21	$422	$373	$27,689	$310,345.50
40	72	25-Jun-21	$423	$372	$28,062	$309,922.94
40	73	09-Jul-21	$423	$372	$28,433	$309,499.87
40	74	23-Jul-21	$424	$371	$28,805	$309,076.29
40	75	06-Aug-21	$424	$371	$29,175	$308,652.20
40	76	20-Aug-21	$425	$370	$29,546	$308,227.61
40	77	03-Sep-21	$425	$370	$29,915	$307,802.51
40	78	17-Sep-21	$426	$369	$30,285	$307,376.90
40	79	01-Oct-21	$426	$369	$30,653	$306,950.78
40	80	15-Oct-21	$427	$368	$31,022	$306,524.14
40	81	29-Oct-21	$427	$368	$31,389	$306,096.99
40	82	12-Nov-21	$428	$367	$31,756	$305,669.33
40	83	26-Nov-21	$428	$367	$32,123	$305,241.16
40	84	10-Dec-21	$429	$366	$32,489	$304,812.47
40	85	24-Dec-21	$429	$366	$32,855	$304,383.27
41	86	07-Jan-22	$430	$365	$33,220	$303,953.55
41	87	21-Jan-22	$430	$365	$33,585	$303,523.32
41	88	04-Feb-22	$431	$364	$33,949	$303,092.57
41	89	18-Feb-22	$431	$364	$34,312	$302,661.31
41	90	04-Mar-22	$432	$363	$34,675	$302,229.53
41	91	18-Mar-22	$432	$363	$35,038	$301,797.23
41	92	01-Apr-22	$433	$362	$35,400	$301,364.41
41	93	15-Apr-22	$433	$361	$35,761	$300,931.07
41	94	29-Apr-22	$434	$361	$36,122	$300,497.21
41	95	13-May-22	$434	$360	$36,483	$300,062.83
41	96	27-May-22	$435	$360	$36,843	$299,627.93
41	97	10-Jun-22	$435	$359	$37,202	$299,192.51
41	98	24-Jun-22	$436	$359	$37,561	$298,756.57
41	99	08-Jul-22	$436	$358	$37,919	$298,320.11
41	100	22-Jul-22	$437	$358	$38,277	$297,883.12
41	101	05-Aug-22	$438	$357	$38,634	$297,445.61
41	102	19-Aug-22	$438	$357	$38,991	$297,007.57
41	103	02-Sep-22	$439	$356	$39,348	$296,569.01
41	104	16-Sep-22	$439	$356	$39,703	$296,129.92
41	105	30-Sep-22	$440	$355	$40,058	$295,690.30
41	106	14-Oct-22	$440	$355	$40,413	$295,250.16
41	107	28-Oct-22	$441	$354	$40,767	$294,809.49
41	108	11-Nov-22	$441	$354	$41,121	$294,368.29
41	109	25-Nov-22	$442	$353	$41,474	$293,926.56
41	110	09-Dec-22	$442	$353	$41,827	$293,484.30
41	111	23-Dec-22	$443	$352	$42,179	$293,041.51
42	112	06-Jan-23	$443	$352	$42,530	$292,598.19
42	113	20-Jan-23	$444	$351	$42,881	$292,154.34
42	114	03-Feb-23	$444	$350	$43,232	$291,709.96
42	115	17-Feb-23	$445	$350	$43,581	$291,265.04
42	116	03-Mar-23	$445	$349	$43,931	$290,819.59
42	117	17-Mar-23	$446	$349	$44,280	$290,373.60
42	118	31-Mar-23	$447	$348	$44,628	$289,927.08
42	119	14-Apr-23	$447	$348	$44,976	$289,480.02
42	120	28-Apr-23	$448	$347	$45,323	$289,032.43
42	121	12-May-23	$448	$347	$45,670	$288,584.30
42	122	26-May-23	$449	$346	$46,016	$288,135.63
42	123	09-Jun-23	$449	$346	$46,362	$287,686.43
42	124	23-Jun-23	$450	$345	$46,707	$287,236.69
42	125	07-Jul-23	$450	$345	$47,051	$286,786.41
42	126	21-Jul-23	$451	$344	$47,395	$286,335.59
42	127	04-Aug-23	$451	$343	$47,739	$285,884.23
42	128	18-Aug-23	$452	$343	$48,082	$285,432.32
42	129	01-Sep-23	$452	$342	$48,424	$284,979.87
42	130	15-Sep-23	$453	$342	$48,766	$284,526.88
42	131	29-Sep-23	$454	$341	$49,107	$284,073.35
42	132	13-Oct-23	$454	$341	$49,448	$283,619.27
42	133	27-Oct-23	$455	$340	$49,788	$283,164.65
42	134	10-Nov-23	$455	$340	$50,128	$282,709.48
42	135	24-Nov-23	$456	$339	$50,467	$282,253.77
42	136	08-Dec-23	$456	$339	$50,805	$281,797.51
42	137	22-Dec-23	$457	$338	$51,143	$281,340.70
43	138	05-Jan-24	$457	$337	$51,481	$280,883.34
43	139	19-Jan-24	$458	$337	$51,818	$280,425.44
43	140	02-Feb-24	$458	$336	$52,154	$279,966.99
43	141	16-Feb-24	$459	$336	$52,490	$279,507.99
43	142	01-Mar-24	$460	$335	$52,825	$279,048.44
43	143	15-Mar-24	$460	$335	$53,160	$278,588.33
43	144	29-Mar-24	$461	$334	$53,494	$278,127.67
43	145	12-Apr-24	$461	$334	$53,828	$277,666.46
43	146	26-Apr-24	$462	$333	$54,161	$277,204.70
43	147	10-May-24	$462	$333	$54,493	$276,742.38
43	148	24-May-24	$463	$332	$54,825	$276,279.51
43	149	07-Jun-24	$463	$331	$55,157	$275,816.08
43	150	21-Jun-24	$464	$331	$55,488	$275,352.10
43	151	05-Jul-24	$465	$330	$55,818	$274,887.56
43	152	19-Jul-24	$465	$330	$56,148	$274,422.46
43	153	02-Aug-24	$466	$329	$56,477	$273,956.81
43	154	16-Aug-24	$466	$329	$56,805	$273,490.60
43	155	30-Aug-24	$467	$328	$57,133	$273,023.83
43	156	13-Sep-24	$467	$328	$57,461	$272,556.50
43	157	27-Sep-24	$468	$327	$57,788	$272,088.61
43	158	11-Oct-24	$468	$326	$58,114	$271,620.16
43	159	25-Oct-24	$469	$326	$58,440	$271,151.14
43	160	08-Nov-24	$470	$325	$58,765	$270,681.56
43	161	22-Nov-24	$470	$325	$59,090	$270,211.42
43	162	06-Dec-24	$471	$324	$59,414	$269,740.71
43	163	20-Dec-24	$471	$324	$59,738	$269,269.44
44	164	03-Jan-25	$472	$323	$60,061	$268,797.60
44	165	17-Jan-25	$472	$322	$60,383	$268,325.20
44	166	31-Jan-25	$473	$322	$60,705	$267,852.23
44	167	14-Feb-25	$474	$321	$61,026	$267,378.69
44	168	28-Feb-25	$474	$321	$61,347	$266,904.59
44	169	14-Mar-25	$475	$320	$61,667	$266,429.92
44	170	28-Mar-25	$475	$320	$61,987	$265,954.68
44	171	11-Apr-25	$476	$319	$62,306	$265,478.87
44	172	25-Apr-25	$476	$318	$62,624	$265,002.49
44	173	09-May-25	$477	$318	$62,942	$264,525.54
44	174	23-May-25	$478	$317	$63,259	$264,048.01
44	175	06-Jun-25	$478	$317	$63,576	$263,569.91
44	176	20-Jun-25	$479	$316	$63,892	$263,091.24
44	177	04-Jul-25	$479	$316	$64,208	$262,611.99
44	178	18-Jul-25	$480	$315	$64,523	$262,132.17
44	179	01-Aug-25	$480	$314	$64,837	$261,651.77
44	180	15-Aug-25	$481	$314	$65,151	$261,170.80
44	181	29-Aug-25	$482	$313	$65,464	$260,689.25
44	182	12-Sep-25	$482	$313	$65,777	$260,207.12
44	183	26-Sep-25	$483	$312	$66,089	$259,724.41
44	184	10-Oct-25	$483	$312	$66,401	$259,241.13
44	185	24-Oct-25	$484	$311	$66,712	$258,757.27
44	186	07-Nov-25	$484	$310	$67,022	$258,272.83
44	187	21-Nov-25	$485	$310	$67,332	$257,787.80
44	188	05-Dec-25	$486	$309	$67,641	$257,302.19
44	189	19-Dec-25	$486	$309	$67,950	$256,816.00
45	190	02-Jan-26	$487	$308	$68,258	$256,329.23
45	191	16-Jan-26	$487	$307	$68,565	$255,841.87
45	192	30-Jan-26	$488	$307	$68,872	$255,353.93
45	193	13-Feb-26	$489	$306	$69,179	$254,865.40
45	194	27-Feb-26	$489	$306	$69,484	$254,376.29
45	195	13-Mar-26	$490	$305	$69,789	$253,886.59
45	196	27-Mar-26	$490	$305	$70,094	$253,396.30
45	197	10-Apr-26	$491	$304	$70,398	$252,905.42
45	198	24-Apr-26	$491	$303	$70,701	$252,413.96
45	199	08-May-26	$492	$303	$71,004	$251,921.91
45	200	22-May-26	$493	$302	$71,306	$251,429.27
45	201	05-Jun-26	$493	$302	$71,608	$250,936.03
45	202	19-Jun-26	$494	$301	$71,909	$250,442.20
45	203	03-Jul-26	$494	$300	$72,209	$249,947.78
45	204	17-Jul-26	$495	$300	$72,509	$249,452.77
45	205	31-Jul-26	$496	$299	$72,808	$248,957.16
45	206	14-Aug-26	$496	$299	$73,107	$248,460.96
45	207	28-Aug-26	$497	$298	$73,405	$247,964.16
45	208	11-Sep-26	$497	$297	$73,702	$247,466.77
45	209	25-Sep-26	$498	$297	$73,999	$246,968.78
45	210	09-Oct-26	$499	$296	$74,295	$246,470.19
45	211	23-Oct-26	$499	$296	$74,591	$245,971.01
45	212	06-Nov-26	$500	$295	$74,886	$245,471.23
45	213	20-Nov-26	$500	$294	$75,181	$244,970.85
45	214	04-Dec-26	$501	$294	$75,474	$244,469.87
45	215	18-Dec-26	$502	$293	$75,768	$243,968.29
46	216	01-Jan-27	$502	$293	$76,060	$243,466.11
46	217	15-Jan-27	$503	$292	$76,352	$242,963.32
46	218	29-Jan-27	$503	$291	$76,644	$242,459.93
46	219	12-Feb-27	$504	$291	$76,935	$241,955.94
46	220	26-Feb-27	$505	$290	$77,225	$241,451.34
46	221	12-Mar-27	$505	$290	$77,515	$240,946.14
46	222	26-Mar-27	$506	$289	$77,804	$240,440.33
46	223	09-Apr-27	$506	$288	$78,092	$239,933.91
46	224	23-Apr-27	$507	$288	$78,380	$239,426.89
46	225	07-May-27	$508	$287	$78,667	$238,919.26
46	226	21-May-27	$508	$287	$78,954	$238,411.02
46	227	04-Jun-27	$509	$286	$79,240	$237,902.17
46	228	18-Jun-27	$509	$285	$79,525	$237,392.71
46	229	02-Jul-27	$510	$285	$79,810	$236,882.64
46	230	16-Jul-27	$511	$284	$80,094	$236,371.96
46	231	30-Jul-27	$511	$284	$80,377	$235,860.66
46	232	13-Aug-27	$512	$283	$80,660	$235,348.75
46	233	27-Aug-27	$513	$282	$80,943	$234,836.23
46	234	10-Sep-27	$513	$282	$81,224	$234,323.09
46	235	24-Sep-27	$514	$281	$81,505	$233,809.34
46	236	08-Oct-27	$514	$280	$81,786	$233,294.97
46	237	22-Oct-27	$515	$280	$82,066	$232,779.98
46	238	05-Nov-27	$516	$279	$82,345	$232,264.37
46	239	19-Nov-27	$516	$279	$82,624	$231,748.15
46	240	03-Dec-27	$517	$278	$82,902	$231,231.31
46	241	17-Dec-27	$517	$277	$83,179	$230,713.85
46	242	31-Dec-27	$518	$277	$83,456	$230,195.77
47	243	14-Jan-28	$519	$276	$83,732	$229,677.06
47	244	28-Jan-28	$519	$276	$84,007	$229,157.73
47	245	11-Feb-28	$520	$275	$84,282	$228,637.78
47	246	25-Feb-28	$521	$274	$84,556	$228,117.21
47	247	10-Mar-28	$521	$274	$84,830	$227,596.01
47	248	24-Mar-28	$522	$273	$85,103	$227,074.19
47	249	07-Apr-28	$522	$272	$85,375	$226,551.74
47	250	21-Apr-28	$523	$272	$85,647	$226,028.66
47	251	05-May-28	$524	$271	$85,918	$225,504.96
47	252	19-May-28	$524	$271	$86,189	$224,980.63
47	253	02-Jun-28	$525	$270	$86,459	$224,455.67
47	254	16-Jun-28	$526	$269	$86,728	$223,930.08
47	255	30-Jun-28	$526	$269	$86,997	$223,403.86
47	256	14-Jul-28	$527	$268	$87,264	$222,877.01
47	257	28-Jul-28	$527	$267	$87,532	$222,349.53
47	258	11-Aug-28	$528	$267	$87,799	$221,821.41
47	259	25-Aug-28	$529	$266	$88,065	$221,292.66
47	260	08-Sep-28	$529	$265	$88,330	$220,763.28
47	261	22-Sep-28	$530	$265	$88,595	$220,233.26
47	262	06-Oct-28	$531	$264	$88,859	$219,702.60
47	263	20-Oct-28	$531	$264	$89,123	$219,171.31
47	264	03-Nov-28	$532	$263	$89,386	$218,639.38
47	265	17-Nov-28	$533	$262	$89,648	$218,106.81
47	266	01-Dec-28	$533	$262	$89,909	$217,573.60
47	267	15-Dec-28	$534	$261	$90,170	$217,039.75
47	268	29-Dec-28	$534	$260	$90,431	$216,505.26
48	269	12-Jan-29	$535	$260	$90,690	$215,970.13
48	270	26-Jan-29	$536	$259	$90,949	$215,434.36
48	271	09-Feb-29	$536	$258	$91,208	$214,897.95
48	272	23-Feb-29	$537	$258	$91,466	$214,360.89
48	273	09-Mar-29	$538	$257	$91,723	$213,823.19
48	274	23-Mar-29	$538	$256	$91,979	$213,284.85
48	275	06-Apr-29	$539	$256	$92,235	$212,745.86
48	276	20-Apr-29	$540	$255	$92,490	$212,206.22
48	277	04-May-29	$540	$255	$92,745	$211,665.94
48	278	18-May-29	$541	$254	$92,999	$211,125.01
48	279	01-Jun-29	$542	$253	$93,252	$210,583.43
48	280	15-Jun-29	$542	$253	$93,505	$210,041.20
48	281	29-Jun-29	$543	$252	$93,757	$209,498.32
48	282	13-Jul-29	$544	$251	$94,008	$208,954.79
48	283	27-Jul-29	$544	$251	$94,259	$208,410.61
48	284	10-Aug-29	$545	$250	$94,508	$207,865.77
48	285	24-Aug-29	$545	$249	$94,758	$207,320.28
48	286	07-Sep-29	$546	$249	$95,007	$206,774.14
48	287	21-Sep-29	$547	$248	$95,255	$206,227.34
48	288	05-Oct-29	$547	$247	$95,502	$205,679.88
48	289	19-Oct-29	$548	$247	$95,749	$205,131.77
48	290	02-Nov-29	$549	$246	$95,995	$204,583.00
48	291	16-Nov-29	$549	$245	$96,240	$204,033.57
48	292	30-Nov-29	$550	$245	$96,485	$203,483.48
48	293	14-Dec-29	$551	$244	$96,729	$202,932.73
48	294	28-Dec-29	$551	$243	$96,972	$202,381.32
49	295	11-Jan-30	$552	$243	$97,215	$201,829.25
49	296	25-Jan-30	$553	$242	$97,457	$201,276.52
49	297	08-Feb-30	$553	$241	$97,699	$200,723.13
49	298	22-Feb-30	$554	$241	$97,939	$200,169.07
49	299	08-Mar-30	$555	$240	$98,180	$199,614.35
49	300	22-Mar-30	$555	$239	$98,419	$199,058.96
49	301	05-Apr-30	$556	$239	$98,658	$198,502.91
49	302	19-Apr-30	$557	$238	$98,896	$197,946.19
49	303	03-May-30	$557	$237	$99,133	$197,388.80
49	304	17-May-30	$558	$237	$99,370	$196,830.74
49	305	31-May-30	$559	$236	$99,606	$196,272.01
49	306	14-Jun-30	$559	$235	$99,842	$195,712.61
49	307	28-Jun-30	$560	$235	$100,076	$195,152.54
49	308	12-Jul-30	$561	$234	$100,310	$194,591.80
49	309	26-Jul-30	$561	$233	$100,544	$194,030.39
49	310	09-Aug-30	$562	$233	$100,777	$193,468.30
49	311	23-Aug-30	$563	$232	$101,009	$192,905.54
49	312	06-Sep-30	$563	$231	$101,240	$192,342.10
49	313	20-Sep-30	$564	$231	$101,471	$191,777.99
49	314	04-Oct-30	$565	$230	$101,701	$191,213.20
49	315	18-Oct-30	$565	$229	$101,930	$190,647.73
49	316	01-Nov-30	$566	$229	$102,159	$190,081.59
49	317	15-Nov-30	$567	$228	$102,387	$189,514.77
49	318	29-Nov-30	$568	$227	$102,614	$188,947.27
49	319	13-Dec-30	$568	$227	$102,841	$188,379.09
49	320	27-Dec-30	$569	$226	$103,067	$187,810.22
50	321	10-Jan-31	$570	$225	$103,292	$187,240.67
50	322	24-Jan-31	$570	$225	$103,517	$186,670.44
50	323	07-Feb-31	$571	$224	$103,741	$186,099.53
50	324	21-Feb-31	$572	$223	$103,964	$185,527.93
50	325	07-Mar-31	$572	$223	$104,186	$184,955.64
50	326	21-Mar-31	$573	$222	$104,408	$184,382.67
50	327	04-Apr-31	$574	$221	$104,629	$183,809.01
50	328	18-Apr-31	$574	$220	$104,850	$183,234.66
50	329	02-May-31	$575	$220	$105,070	$182,659.62
50	330	16-May-31	$576	$219	$105,289	$182,083.89
50	331	30-May-31	$576	$218	$105,507	$181,507.47
50	332	13-Jun-31	$577	$218	$105,725	$180,930.36
50	333	27-Jun-31	$578	$217	$105,942	$180,352.56
50	334	11-Jul-31	$578	$216	$106,158	$179,774.07
50	335	25-Jul-31	$579	$216	$106,374	$179,194.88
50	336	08-Aug-31	$580	$215	$106,589	$178,615.00
50	337	22-Aug-31	$581	$214	$106,803	$178,034.42
50	338	05-Sep-31	$581	$214	$107,017	$177,453.15
50	339	19-Sep-31	$582	$213	$107,230	$176,871.18
50	340	03-Oct-31	$583	$212	$107,442	$176,288.51
50	341	17-Oct-31	$583	$211	$107,653	$175,705.14
50	342	31-Oct-31	$584	$211	$107,864	$175,121.07
50	343	14-Nov-31	$585	$210	$108,074	$174,536.30
50	344	28-Nov-31	$585	$209	$108,283	$173,950.83
50	345	12-Dec-31	$586	$209	$108,492	$173,364.66
50	346	26-Dec-31	$587	$208	$108,700	$172,777.78
51	347	09-Jan-32	$588	$207	$108,907	$172,190.20
51	348	23-Jan-32	$588	$207	$109,114	$171,601.92
51	349	06-Feb-32	$589	$206	$109,320	$171,012.93
51	350	20-Feb-32	$590	$205	$109,525	$170,423.23
51	351	05-Mar-32	$590	$204	$109,729	$169,832.83
51	352	19-Mar-32	$591	$204	$109,933	$169,241.72
51	353	02-Apr-32	$592	$203	$110,136	$168,649.90
51	354	16-Apr-32	$593	$202	$110,338	$168,057.37
51	355	30-Apr-32	$593	$202	$110,540	$167,464.13
51	356	14-May-32	$594	$201	$110,741	$166,870.18
51	357	28-May-32	$595	$200	$110,941	$166,275.51
51	358	11-Jun-32	$595	$199	$111,140	$165,680.13
51	359	25-Jun-32	$596	$199	$111,339	$165,084.04
51	360	09-Jul-32	$597	$198	$111,537	$164,487.23
51	361	23-Jul-32	$598	$197	$111,734	$163,889.71
51	362	06-Aug-32	$598	$197	$111,931	$163,291.47
51	363	20-Aug-32	$599	$196	$112,127	$162,692.51
51	364	03-Sep-32	$600	$195	$112,322	$162,092.83
51	365	17-Sep-32	$600	$194	$112,516	$161,492.43
51	366	01-Oct-32	$601	$194	$112,710	$160,891.31
51	367	15-Oct-32	$602	$193	$112,903	$160,289.47
51	368	29-Oct-32	$603	$192	$113,095	$159,686.91
51	369	12-Nov-32	$603	$192	$113,287	$159,083.63
51	370	26-Nov-32	$604	$191	$113,478	$158,479.62
51	371	10-Dec-32	$605	$190	$113,668	$157,874.89
51	372	24-Dec-32	$605	$189	$113,857	$157,269.43
52	373	07-Jan-33	$606	$189	$114,046	$156,663.25
52	374	21-Jan-33	$607	$188	$114,234	$156,056.34
52	375	04-Feb-33	$608	$187	$114,421	$155,448.70
52	376	18-Feb-33	$608	$186	$114,607	$154,840.33
52	377	04-Mar-33	$609	$186	$114,793	$154,231.23
52	378	18-Mar-33	$610	$185	$114,978	$153,621.40
52	379	01-Apr-33	$611	$184	$115,162	$153,010.84
52	380	15-Apr-33	$611	$184	$115,346	$152,399.55
52	381	29-Apr-33	$612	$183	$115,529	$151,787.53
52	382	13-May-33	$613	$182	$115,711	$151,174.77
52	383	27-May-33	$613	$181	$115,892	$150,561.28
52	384	10-Jun-33	$614	$181	$116,073	$149,947.05
52	385	24-Jun-33	$615	$180	$116,253	$149,332.08
52	386	08-Jul-33	$616	$179	$116,432	$148,716.38
52	387	22-Jul-33	$616	$178	$116,610	$148,099.94
52	388	05-Aug-33	$617	$178	$116,788	$147,482.76
52	389	19-Aug-33	$618	$177	$116,965	$146,864.84
52	390	02-Sep-33	$619	$176	$117,141	$146,246.18
52	391	16-Sep-33	$619	$175	$117,316	$145,626.78
52	392	30-Sep-33	$620	$175	$117,491	$145,006.63
52	393	14-Oct-33	$621	$174	$117,665	$144,385.74
52	394	28-Oct-33	$622	$173	$117,838	$143,764.10
52	395	11-Nov-33	$622	$172	$118,011	$143,141.72
52	396	25-Nov-33	$623	$172	$118,182	$142,518.59
52	397	09-Dec-33	$624	$171	$118,353	$141,894.71
52	398	23-Dec-33	$625	$170	$118,523	$141,270.09
53	399	06-Jan-34	$625	$169	$118,693	$140,644.72
53	400	20-Jan-34	$626	$169	$118,862	$140,018.60
53	401	03-Feb-34	$627	$168	$119,030	$139,391.73
53	402	17-Feb-34	$628	$167	$119,197	$138,764.10
53	403	03-Mar-34	$628	$166	$119,363	$138,135.72
53	404	17-Mar-34	$629	$166	$119,529	$137,506.59
53	405	31-Mar-34	$630	$165	$119,694	$136,876.70
53	406	14-Apr-34	$631	$164	$119,858	$136,246.06
53	407	28-Apr-34	$631	$163	$120,021	$135,614.66
53	408	12-May-34	$632	$163	$120,184	$134,982.50
53	409	26-May-34	$633	$162	$120,346	$134,349.58
53	410	09-Jun-34	$634	$161	$120,507	$133,715.91
53	411	23-Jun-34	$634	$160	$120,668	$133,081.48
53	412	07-Jul-34	$635	$160	$120,827	$132,446.28
53	413	21-Jul-34	$636	$159	$120,986	$131,810.32
53	414	04-Aug-34	$637	$158	$121,144	$131,173.60
53	415	18-Aug-34	$637	$157	$121,302	$130,536.12
53	416	01-Sep-34	$638	$157	$121,458	$129,897.87
53	417	15-Sep-34	$639	$156	$121,614	$129,258.86
53	418	29-Sep-34	$640	$155	$121,769	$128,619.08
53	419	13-Oct-34	$641	$154	$121,923	$127,978.53
53	420	27-Oct-34	$641	$154	$122,077	$127,337.21
53	421	10-Nov-34	$642	$153	$122,230	$126,695.12
53	422	24-Nov-34	$643	$152	$122,382	$126,052.26
53	423	08-Dec-34	$644	$151	$122,533	$125,408.63
53	424	22-Dec-34	$644	$150	$122,683	$124,764.23
54	425	05-Jan-35	$645	$150	$122,833	$124,119.06
54	426	19-Jan-35	$646	$149	$122,982	$123,473.11
54	427	02-Feb-35	$647	$148	$123,130	$122,826.39
54	428	16-Feb-35	$648	$147	$123,277	$122,178.89
54	429	02-Mar-35	$648	$147	$123,424	$121,530.62
54	430	16-Mar-35	$649	$146	$123,569	$120,881.57
54	431	30-Mar-35	$650	$145	$123,714	$120,231.74
54	432	13-Apr-35	$651	$144	$123,859	$119,581.13
54	433	27-Apr-35	$651	$143	$124,002	$118,929.74
54	434	11-May-35	$652	$143	$124,145	$118,277.57
54	435	25-May-35	$653	$142	$124,287	$117,624.62
54	436	08-Jun-35	$654	$141	$124,428	$116,970.88
54	437	22-Jun-35	$655	$140	$124,568	$116,316.36
54	438	06-Jul-35	$655	$140	$124,708	$115,661.05
54	439	20-Jul-35	$656	$139	$124,846	$115,004.96
54	440	03-Aug-35	$657	$138	$124,984	$114,348.08
54	441	17-Aug-35	$658	$137	$125,121	$113,690.41
54	442	31-Aug-35	$658	$136	$125,258	$113,031.95
54	443	14-Sep-35	$659	$136	$125,393	$112,372.70
54	444	28-Sep-35	$660	$135	$125,528	$111,712.66
54	445	12-Oct-35	$661	$134	$125,662	$111,051.83
54	446	26-Oct-35	$662	$133	$125,795	$110,390.21
54	447	09-Nov-35	$662	$132	$125,928	$109,727.80
54	448	23-Nov-35	$663	$132	$126,059	$109,064.59
54	449	07-Dec-35	$664	$131	$126,190	$108,400.59
54	450	21-Dec-35	$665	$130	$126,320	$107,735.79
55	451	04-Jan-36	$666	$129	$126,450	$107,070.19
55	452	18-Jan-36	$666	$128	$126,578	$106,403.79
55	453	01-Feb-36	$667	$128	$126,706	$105,736.59
55	454	15-Feb-36	$668	$127	$126,832	$105,068.59
55	455	29-Feb-36	$669	$126	$126,958	$104,399.79
55	456	14-Mar-36	$670	$125	$127,084	$103,730.19
55	457	28-Mar-36	$670	$124	$127,208	$103,059.79
55	458	11-Apr-36	$671	$124	$127,332	$102,388.58
55	459	25-Apr-36	$672	$123	$127,455	$101,716.57
55	460	09-May-36	$673	$122	$127,577	$101,043.75
55	461	23-May-36	$674	$121	$127,698	$100,370.12
55	462	06-Jun-36	$674	$120	$127,818	$99,695.69
55	463	20-Jun-36	$675	$120	$127,938	$99,020.45
55	464	04-Jul-36	$676	$119	$128,057	$98,344.40
55	465	18-Jul-36	$677	$118	$128,174	$97,667.54
55	466	01-Aug-36	$678	$117	$128,292	$96,989.86
55	467	15-Aug-36	$678	$116	$128,408	$96,311.37
55	468	29-Aug-36	$679	$116	$128,524	$95,632.07
55	469	12-Sep-36	$680	$115	$128,638	$94,951.95
55	470	26-Sep-36	$681	$114	$128,752	$94,271.02
55	471	10-Oct-36	$682	$113	$128,865	$93,589.27
55	472	24-Oct-36	$683	$112	$128,977	$92,906.70
55	473	07-Nov-36	$683	$111	$129,089	$92,223.31
55	474	21-Nov-36	$684	$111	$129,200	$91,539.10
55	475	05-Dec-36	$685	$110	$129,309	$90,854.07
55	476	19-Dec-36	$686	$109	$129,418	$90,168.22
56	477	02-Jan-37	$687	$108	$129,526	$89,481.55
56	478	16-Jan-37	$687	$107	$129,634	$88,794.06
56	479	30-Jan-37	$688	$107	$129,740	$88,105.74
56	480	13-Feb-37	$689	$106	$129,846	$87,416.59
56	481	27-Feb-37	$690	$105	$129,951	$86,726.62
56	482	13-Mar-37	$691	$104	$130,055	$86,035.82
56	483	27-Mar-37	$692	$103	$130,158	$85,344.19
56	484	10-Apr-37	$692	$102	$130,260	$84,651.73
56	485	24-Apr-37	$693	$102	$130,362	$83,958.44
56	486	08-May-37	$694	$101	$130,463	$83,264.32
56	487	22-May-37	$695	$100	$130,563	$82,569.37
56	488	05-Jun-37	$696	$99	$130,662	$81,873.58
56	489	19-Jun-37	$697	$98	$130,760	$81,176.96
56	490	03-Jul-37	$697	$97	$130,857	$80,479.50
56	491	17-Jul-37	$698	$97	$130,954	$79,781.21
56	492	31-Jul-37	$699	$96	$131,049	$79,082.08
56	493	14-Aug-37	$700	$95	$131,144	$78,382.11
56	494	28-Aug-37	$701	$94	$131,238	$77,681.30
56	495	11-Sep-37	$702	$93	$131,332	$76,979.65
56	496	25-Sep-37	$702	$92	$131,424	$76,277.16
56	497	09-Oct-37	$703	$92	$131,515	$75,573.83
56	498	23-Oct-37	$704	$91	$131,606	$74,869.65
56	499	06-Nov-37	$705	$90	$131,696	$74,164.63
56	500	20-Nov-37	$706	$89	$131,785	$73,458.76
56	501	04-Dec-37	$707	$88	$131,873	$72,752.05
56	502	18-Dec-37	$708	$87	$131,960	$72,044.49
57	503	01-Jan-38	$708	$86	$132,047	$71,336.08
57	504	15-Jan-38	$709	$86	$132,132	$70,626.82
57	505	29-Jan-38	$710	$85	$132,217	$69,916.71
57	506	12-Feb-38	$711	$84	$132,301	$69,205.75
57	507	26-Feb-38	$712	$83	$132,384	$68,493.93
57	508	12-Mar-38	$713	$82	$132,466	$67,781.26
57	509	26-Mar-38	$714	$81	$132,547	$67,067.74
57	510	09-Apr-38	$714	$80	$132,628	$66,353.36
57	511	23-Apr-38	$715	$80	$132,707	$65,638.12
57	512	07-May-38	$716	$79	$132,786	$64,922.02
57	513	21-May-38	$717	$78	$132,864	$64,205.07
57	514	04-Jun-38	$718	$77	$132,941	$63,487.26
57	515	18-Jun-38	$719	$76	$133,017	$62,768.58
57	516	02-Jul-38	$720	$75	$133,092	$62,049.04
57	517	16-Jul-38	$720	$74	$133,167	$61,328.64
57	518	30-Jul-38	$721	$74	$133,240	$60,607.38
57	519	13-Aug-38	$722	$73	$133,313	$59,885.25
57	520	27-Aug-38	$723	$72	$133,385	$59,162.25
57	521	10-Sep-38	$724	$71	$133,456	$58,438.39
57	522	24-Sep-38	$725	$70	$133,526	$57,713.66
57	523	08-Oct-38	$726	$69	$133,595	$56,988.06
57	524	22-Oct-38	$726	$68	$133,664	$56,261.59
57	525	05-Nov-38	$727	$67	$133,731	$55,534.25
57	526	19-Nov-38	$728	$67	$133,798	$54,806.03
57	527	03-Dec-38	$729	$66	$133,863	$54,076.94
57	528	17-Dec-38	$730	$65	$133,928	$53,346.98
57	529	31-Dec-38	$731	$64	$133,992	$52,616.14
58	530	14-Jan-39	$732	$63	$134,055	$51,884.42
58	531	28-Jan-39	$733	$62	$134,118	$51,151.83
58	532	11-Feb-39	$733	$61	$134,179	$50,418.36
58	533	25-Feb-39	$734	$60	$134,239	$49,684.01
58	534	11-Mar-39	$735	$60	$134,299	$48,948.78
58	535	25-Mar-39	$736	$59	$134,358	$48,212.67
58	536	08-Apr-39	$737	$58	$134,416	$47,475.67
58	537	22-Apr-39	$738	$57	$134,473	$46,737.79
58	538	06-May-39	$739	$56	$134,529	$45,999.02
58	539	20-May-39	$740	$55	$134,584	$45,259.37
58	540	03-Jun-39	$741	$54	$134,638	$44,518.83
58	541	17-Jun-39	$741	$53	$134,691	$43,777.40
58	542	01-Jul-39	$742	$53	$134,744	$43,035.08
58	543	15-Jul-39	$743	$52	$134,796	$42,291.87
58	544	29-Jul-39	$744	$51	$134,846	$41,547.77
58	545	12-Aug-39	$745	$50	$134,896	$40,802.78
58	546	26-Aug-39	$746	$49	$134,945	$40,056.89
58	547	09-Sep-39	$747	$48	$134,993	$39,310.11
58	548	23-Sep-39	$748	$47	$135,040	$38,562.43
58	549	07-Oct-39	$749	$46	$135,087	$37,813.86
58	550	21-Oct-39	$749	$45	$135,132	$37,064.39
58	551	04-Nov-39	$750	$44	$135,176	$36,314.02
58	552	18-Nov-39	$751	$44	$135,220	$35,562.75
58	553	02-Dec-39	$752	$43	$135,263	$34,810.58
58	554	16-Dec-39	$753	$42	$135,304	$34,057.51
58	555	30-Dec-39	$754	$41	$135,345	$33,303.53
59	556	13-Jan-40	$755	$40	$135,385	$32,548.65
59	557	27-Jan-40	$756	$39	$135,424	$31,792.86
59	558	10-Feb-40	$757	$38	$135,462	$31,036.17
59	559	24-Feb-40	$758	$37	$135,500	$30,278.57
59	560	09-Mar-40	$759	$36	$135,536	$29,520.06
59	561	23-Mar-40	$759	$35	$135,571	$28,760.64
59	562	06-Apr-40	$760	$35	$135,606	$28,000.31
59	563	20-Apr-40	$761	$34	$135,639	$27,239.07
59	564	04-May-40	$762	$33	$135,672	$26,476.91
59	565	18-May-40	$763	$32	$135,704	$25,713.84
59	566	01-Jun-40	$764	$31	$135,735	$24,949.85
59	567	15-Jun-40	$765	$30	$135,765	$24,184.95
59	568	29-Jun-40	$766	$29	$135,794	$23,419.13
59	569	13-Jul-40	$767	$28	$135,822	$22,652.39
59	570	27-Jul-40	$768	$27	$135,849	$21,884.73
59	571	10-Aug-40	$769	$26	$135,875	$21,116.15
59	572	24-Aug-40	$770	$25	$135,900	$20,346.65
59	573	07-Sep-40	$770	$24	$135,925	$19,576.23
59	574	21-Sep-40	$771	$23	$135,948	$18,804.88
59	575	05-Oct-40	$772	$23	$135,971	$18,032.61
59	576	19-Oct-40	$773	$22	$135,992	$17,259.41
59	577	02-Nov-40	$774	$21	$136,013	$16,485.28
59	578	16-Nov-40	$775	$20	$136,033	$15,710.22
59	579	30-Nov-40	$776	$19	$136,052	$14,934.23
59	580	14-Dec-40	$777	$18	$136,070	$14,157.31
59	581	28-Dec-40	$778	$17	$136,087	$13,379.46
60	582	11-Jan-41	$779	$16	$136,103	$12,600.68
60	583	25-Jan-41	$780	$15	$136,118	$11,820.96
60	584	08-Feb-41	$781	$14	$136,132	$11,040.31
60	585	22-Feb-41	$782	$13	$136,145	$10,258.72
60	586	08-Mar-41	$783	$12	$136,158	$9,476.20
60	587	22-Mar-41	$783	$11	$136,169	$8,692.74
60	588	05-Apr-41	$784	$10	$136,179	$7,908.34
60	589	19-Apr-41	$785	$9	$136,189	$7,123.00
60	590	03-May-41	$786	$9	$136,197	$6,336.71
60	591	17-May-41	$787	$8	$136,205	$5,549.48
60	592	31-May-41	$788	$7	$136,212	$4,761.31
60	593	14-Jun-41	$789	$6	$136,217	$3,972.19
60	594	28-Jun-41	$790	$5	$136,222	$3,182.12
60	595	12-Jul-41	$791	$4	$136,226	$2,391.11
60	596	26-Jul-41	$792	$3	$136,229	$1,599.15
60	597	09-Aug-41	$793	$2	$136,231	$806.24
60	598	23-Aug-41	$794	$1	$136,232	$12.38
60	599	06-Sep-41	$12	$0	$136,232	$0.00

My Status Quo Equals:

It's 2041

I am mortgage FREE in 2041. Nearing my 60th birthday. I've paid $795 every two weeks to Scotiabank over the past 23 years. I've made 599 mortgage payments. In total, I've paid $475,321.00. I've paid $136,232 in interest with my after tax money. Given 30% tax rate, I've earned $679,030 of salary to cover my 339K mortgage. At $60,000 a year salary,  $679,030 = 11 YEARS OF MY WORK AND MY LIFE. Am I happy to be a home owner.... .....23 years later?

PLAN B: FAST AND FURIOUS MORTGAGE PAY DOWN

I figured,  I don't have the patience for 23 more years of bi-weekly mortgage payments.



Hence, here is Plan B:

Age	Period	Payment Date	Principal	Interest	Total Interest	Balance
37	1	05-Oct-18	$388	$407	$407	$338,701
37	Prepayment	05-Oct-18	$14,063	$0	$407	$324,638
37	2	19-Oct-18	$405	$389	$796	$324,232
37	3	02-Nov-18	$406	$389	$1,185	$323,827
37	4	16-Nov-18	$406	$388	$1,574	$323,420
37	5	30-Nov-18	$407	$388	$1,961	$323,013
37	6	14-Dec-18	$407	$387	$2,349	$322,606
37	7	28-Dec-18	$408	$387	$2,736	$322,198
38	8	11-Jan-19	$408	$386	$3,122	$321,790
38	Prepayment	11-Jan-19	$14,063	$0	$3,122	$307,727
38	9	25-Jan-19	$426	$369	$3,491	$307,301
38	10	08-Feb-19	$426	$369	$3,860	$306,875
38	11	22-Feb-19	$427	$368	$4,228	$306,448
38	12	08-Mar-19	$427	$368	$4,596	$306,021
38	13	22-Mar-19	$428	$367	$4,963	$305,593
38	14	05-Apr-19	$428	$367	$5,329	$305,165
38	Prepayment	05-Apr-19	$14,063	$0	$5,329	$291,102
38	15	19-Apr-19	$446	$349	$5,679	$290,656
38	16	03-May-19	$446	$349	$6,027	$290,210
38	17	17-May-19	$447	$348	$6,375	$289,763
38	18	31-May-19	$447	$348	$6,723	$289,316
38	19	14-Jun-19	$448	$347	$7,070	$288,868
38	20	28-Jun-19	$448	$347	$7,417	$288,420
38	21	12-Jul-19	$449	$346	$7,762	$287,971
38	Prepayment	12-Jul-19	$14,063	$0	$7,762	$273,908
38	22	26-Jul-19	$466	$329	$8,091	$273,442
38	23	09-Aug-19	$467	$328	$8,419	$272,975
38	24	23-Aug-19	$467	$327	$8,746	$272,508
38	25	06-Sep-19	$468	$327	$9,073	$272,040
38	26	20-Sep-19	$469	$326	$9,400	$271,571
38	27	04-Oct-19	$469	$326	$9,725	$271,102
38	28	18-Oct-19	$470	$325	$10,051	$270,632
38	Prepayment	18-Oct-19	$14,063	$0	$10,051	$256,569
38	29	01-Nov-19	$487	$308	$10,358	$256,082
38	30	15-Nov-19	$488	$307	$10,666	$255,595
38	31	29-Nov-19	$488	$307	$10,972	$255,106
38	32	13-Dec-19	$489	$306	$11,278	$254,618
38	33	27-Dec-19	$489	$305	$11,584	$254,128
39	34	10-Jan-20	$490	$305	$11,888	$253,638
39	Prepayment	10-Jan-20	$14,063	$0	$11,888	$239,575
39	35	24-Jan-20	$507	$287	$12,176	$239,068
39	36	07-Feb-20	$508	$287	$12,463	$238,560
39	37	21-Feb-20	$509	$286	$12,749	$238,051
39	38	06-Mar-20	$509	$286	$13,034	$237,542
39	39	20-Mar-20	$510	$285	$13,319	$237,032
39	40	03-Apr-20	$511	$284	$13,604	$236,521
39	41	17-Apr-20	$511	$284	$13,887	$236,010
39	Prepayment	17-Apr-20	$14,063	$0	$13,887	$221,947
39	42	01-May-20	$529	$266	$14,153	$221,419
39	43	15-May-20	$529	$266	$14,419	$220,889
39	44	29-May-20	$530	$265	$14,684	$220,360
39	45	12-Jun-20	$531	$264	$14,948	$219,829
39	46	26-Jun-20	$531	$264	$15,212	$219,298
39	47	10-Jul-20	$532	$263	$15,475	$218,766
39	Prepayment	10-Jul-20	$14,063	$0	$15,475	$204,703
39	48	24-Jul-20	$549	$246	$15,721	$204,154
39	49	07-Aug-20	$550	$245	$15,966	$203,604
39	50	21-Aug-20	$551	$244	$16,210	$203,053
39	51	04-Sep-20	$551	$244	$16,453	$202,502
39	52	18-Sep-20	$552	$243	$16,696	$201,950
39	53	02-Oct-20	$553	$242	$16,938	$201,398
39	54	16-Oct-20	$553	$242	$17,180	$200,844
39	Prepayment	16-Oct-20	$14,063	$0	$17,180	$186,781
39	55	30-Oct-20	$571	$224	$17,404	$186,210
39	56	13-Nov-20	$571	$223	$17,627	$185,639
39	57	27-Nov-20	$572	$223	$17,850	$185,067
39	58	11-Dec-20	$573	$222	$18,072	$184,494
39	59	25-Dec-20	$574	$221	$18,293	$183,920
40	60	08-Jan-21	$574	$221	$18,514	$183,346
40	Prepayment	08-Jan-21	$14,063	$0	$18,514	$169,283
40	61	22-Jan-21	$592	$203	$18,717	$168,692
40	62	05-Feb-21	$592	$202	$18,919	$168,099
40	63	19-Feb-21	$593	$202	$19,121	$167,506
40	64	05-Mar-21	$594	$201	$19,322	$166,912
40	65	19-Mar-21	$595	$200	$19,522	$166,317
40	66	02-Apr-21	$595	$200	$19,722	$165,722
40	67	16-Apr-21	$596	$199	$19,921	$165,126
40	Prepayment	16-Apr-21	$14,063	$0	$19,921	$151,063
40	68	30-Apr-21	$614	$181	$20,102	$150,449
40	69	14-May-21	$614	$180	$20,282	$149,835
40	70	28-May-21	$615	$180	$20,462	$149,220
40	71	11-Jun-21	$616	$179	$20,641	$148,604
40	72	25-Jun-21	$617	$178	$20,819	$147,987
40	73	09-Jul-21	$617	$178	$20,997	$147,370
40	Prepayment	09-Jul-21	$14,063	$0	$20,997	$133,307
40	74	23-Jul-21	$635	$160	$21,157	$132,672
40	75	06-Aug-21	$636	$159	$21,316	$132,036
40	76	20-Aug-21	$636	$158	$21,474	$131,400
40	77	03-Sep-21	$637	$158	$21,632	$130,763
40	78	17-Sep-21	$638	$157	$21,789	$130,125
40	79	01-Oct-21	$639	$156	$21,945	$129,486
40	80	15-Oct-21	$640	$155	$22,100	$128,847
40	Prepayment	15-Oct-21	$14,063	$0	$22,100	$114,784
40	81	29-Oct-21	$657	$138	$22,238	$114,126
40	82	12-Nov-21	$658	$137	$22,375	$113,469
40	83	26-Nov-21	$659	$136	$22,511	$112,810
40	84	10-Dec-21	$660	$135	$22,646	$112,150
40	85	24-Dec-21	$660	$135	$22,781	$111,490
41	86	07-Jan-22	$661	$134	$22,914	$110,829
41	Prepayment	07-Jan-22	$14,063	$0	$22,914	$96,766
41	87	21-Jan-22	$679	$116	$23,030	$96,087
41	88	04-Feb-22	$680	$115	$23,146	$95,408
41	89	18-Feb-22	$680	$114	$23,260	$94,727
41	90	04-Mar-22	$681	$114	$23,374	$94,046
41	91	18-Mar-22	$682	$113	$23,486	$93,364
41	92	01-Apr-22	$683	$112	$23,598	$92,681
41	93	15-Apr-22	$684	$111	$23,710	$91,997
41	Prepayment	15-Apr-22	$14,063	$0	$23,710	$77,934
41	94	29-Apr-22	$701	$93	$23,803	$77,233
41	95	13-May-22	$702	$93	$23,896	$76,531
41	96	27-May-22	$703	$92	$23,988	$75,828
41	97	10-Jun-22	$704	$91	$24,079	$75,124
41	98	24-Jun-22	$705	$90	$24,169	$74,419
41	99	08-Jul-22	$706	$89	$24,258	$73,714
41	Prepayment	08-Jul-22	$14,063	$0	$24,258	$59,651
41	100	22-Jul-22	$723	$72	$24,329	$58,927
41	101	05-Aug-22	$724	$71	$24,400	$58,203
41	102	19-Aug-22	$725	$70	$24,470	$57,478
41	103	02-Sep-22	$726	$69	$24,539	$56,752
41	104	16-Sep-22	$727	$68	$24,607	$56,026
41	105	30-Sep-22	$728	$67	$24,674	$55,298
41	106	14-Oct-22	$729	$66	$24,741	$54,570
41	Prepayment	14-Oct-22	$14,063	$0	$24,741	$40,507
41	107	28-Oct-22	$746	$49	$24,789	$39,760
41	108	11-Nov-22	$747	$48	$24,837	$39,013
41	109	25-Nov-22	$748	$47	$24,884	$38,265
41	110	09-Dec-22	$749	$46	$24,930	$37,516
41	111	23-Dec-22	$750	$45	$24,975	$36,766
42	112	06-Jan-23	$751	$44	$25,019	$36,016
42	Prepayment	06-Jan-23	$14,063	$0	$25,019	$21,953
42	113	20-Jan-23	$769	$26	$25,045	$21,184
42	114	03-Feb-23	$769	$25	$25,070	$20,415
42	115	17-Feb-23	$770	$24	$25,095	$19,644
42	116	03-Mar-23	$771	$24	$25,118	$18,873
42	117	17-Mar-23	$772	$23	$25,141	$18,101
42	118	31-Mar-23	$773	$22	$25,163	$17,328
42	119	14-Apr-23	$774	$21	$25,184	$16,554
42	Prepayment	14-Apr-23	$14,063	$0	$25,184	$2,491
42	120	28-Apr-23	$792	$3	$25,187	$1,699
42	121	12-May-23	$793	$2	$25,189	$906
42	122	26-May-23	$794	$1	$25,190	$112
42	123	09-Jun-23	$112	$0	$25,190	$0

The New Plan Is:

Mortgage FREE by 2023

5 YEARS LATER I am mortgage FREE by 2023. I've paid $795 every two weeks to Scotiabank and made 42 regular mortgage payments. I've also made quarterly accelerated payments using my line of credit! Altogether, I paid $364,279.00 to pay off the principal of $339,089.  I now have an opportunity to leverage my home and invest over $270,000. Hence, I no longer spend $1,722 a month on my mortgage. What's even better,  I now make at least $1,000 monthly from my investments. My disposable income is up by $2,722 every month.  Yippeee! I am happy.