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Pierre-Yves McSween is a professor, author and chartered accountant from Canada. This article contains information about Pierre-Yves Mcsween Conjointe.
Since 2015 he has been the personal finance and business journalist at 98.5 FM.
It can be heard every day of the week on FM93: “Since we must rise”, “Quebec Now” and “Bouchard en parle”. He also worked for FM93 and the Cogeco network (104.7 Outaouais, 106.9 Mauricie and 107.7 Estrie).
Do you really need it? is the title of his book. A simple question can set you financially free. He also has four credits on television programs, according to his IMDb page.
Who Is Pierre-Yves Mcsween Conjointe?
Pierre Yves Mcsween is married to Geneviève Pettersen, a Le Journal de Montréal columnist and QUB radio personality.
The exceptional author and moderator duo shares their valuable time together with the audience.
Additionally, his personal life is largely unknown while his professional life is open to the public and his age is currently unknown.
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Pierre-Yves Mcsween Age- How Old Is He?
McSween has remained tight-lipped about her and McSween’s dates and places of birth. According to our information, however, he is in his m-thirties.
Although he is a well-known author, he is not yet included in Wikipedia; Nonetheless, we can get information from various sources and he also has an IMDb page.
He is 5 feet 8 inches tall for his physical build.
Pierre-Yves Mcsween Wikipedia- Know Him Better
FM 98.5 author Pierre Yves Mcsween’s Wikipedia biography has not been released into the public domain.
Nevertheless, he is the subject of numerous publications and brief biographical information that can currently be found on the Internet.
In fact, a journalist can work in a variety of industries. On Télé-Québec he is the presenter of the television program L’indice McSween.
He also reportedly teaches administration at the Cégep régional de Lanaudière à L’Assomption.
5@7 #37 – Devenir millionnaire avant 30 ans (avec Pierre-Yves McSween)
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Who Is Pierre-Yves Mcsween Conjointe? – 650.org
Who Is Pierre-Yves Mcsween Conjointe? Details To Know About His Relationships. Pierre-Yves McSween is a professor, author, and chartered professional accountant …
Source: www.650.org
Date Published: 2/1/2022
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Pierre-Yves McSween: investing where it counts – CORPIQ
A well-known economic columnist in Quebec, Chartered Professional Accountant Pierre-Yves McSween has his vision of the real estate world, …
Source: www.corpiq.com
Date Published: 2/11/2021
View: 1486
La Facture Amoureuse by Pierre-Yves McSween – Goodreads
La Facture Amoureuse book. Read 17 reviews from the world’s largest community for readers. Après En as-tu vraiment besoin ? et Liberté 45 dont les ventes…
Source: www.goodreads.com
Date Published: 6/26/2021
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La facture amoureuse Paperback – Jan. 25 2022 – Amazon.ca
La facture amoureuse: McSween, Pierre-Yves, Jetté, Paul-Antoine, Bruneau, Marc: 9782897583859: Books – Amazon.ca.
Source: www.amazon.ca
Date Published: 8/23/2021
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Pierre-Yves McSween investing where it counts
Proprio Magazine – April 17, 2018
A well-known economics columnist in Quebec, Chartered Professional Accountant Pierre-Yves McSween has his vision of the real estate world, he owns two plexes to diversify his investments. CORPIQ met him on the sidelines of the conference he was presenting at the IMMO 2018 event, where he encouraged attendees to question their needs and relationship with money.
In your radio show you regularly talk about the stock market and often about real estate. What is the place of real estate in your investment strategy?
Real estate fascinates me. I have two plexes and intend to buy a third one. I invested early in the stock market but late in real estate. I contributed to RRSPs while attending college while still having college debt. I’ve never been an accountant and I felt that avoiding taxes was my priority. Investing in RRSPs when you’re 20 is a bit silly because the deduction isn’t very high. I remember once out of college my net worth was $13,000 in RRSPs and $10,000 in debt on a line of credit. Then the Pierre-Yves McSween on the labor market quickly became a consultant. My salary increased by 40% overnight. So I said to myself: I’ll invest the difference. That year I saved $30,000-$40,000 and it was my base to buy a duplex with my wife.
You know the importance of investing early, but how do you do that at a time when you have very few resources?
I compare it to a job. Often, people wait to apply because they have the skills for a job, while it’s the other way around. You need to research the job you need the skills for. It’s a bit the same principle in real estate. The investment you make very young is compound interest. Time is lucrative. If you don’t give yourself the chance to have the time, you won’t make any money.
It is very difficult for a young person to say, “My first $10, $20, $30, $40,000 that I will earn as a surplus to my standard of living, I will jeopardize while my neighbor goes to Bali. I will be 39 years old and can’t remember having experienced so much peer pressure to travel and then posting heavenly pictures of our travels on the internet.
The stock market and real estate each have their own risks and benefits. Do you have a preference?
I like them both. I turned to real estate because I was too focused on the stock market. I prefer a 50-50 balance, but that’s a personal choice. Real estate alone is a concentration of risk.
When interest rates are very low or falling, it makes the stock market less interesting and real estate more interesting. There is a connection. When real estate becomes less profitable, people go public. On the other hand, what is interesting about the current situation is that interest rates are low. That’s why I think there is value in owning a property. This is the best investment right now while the stock market is quite volatile. In fact, it is real estate. It’s weird, it’s the wrong timing for the stock market poised for a correction and real estate capping as interest rates rise. I don’t know where to put my money, so I put it into the stock market and real estate. If not in one or the other, where do I put it? I even invested in a real estate fund to be in the stock market and real estate at the same time. It’s a way to capitalize on real estate returns without taking on any concentrated risk.
What are your ambitions in real estate?
There are real estate investors who want big buildings. I prefer several small buildings. I make less money than those who have bigger buildings, but if one of my smaller buildings doesn’t do well, my risk is weighted. I’ll give you an example: If you have three triplexes and you need cash, sell one. I could be wrong and lose $30,000, but at least I’m not hitting the streets. If you have a big problem with your 10-unit building, you’re done. For a small family like mine, with no family fortune behind them, it’s hard to take so many risks. Diversification becomes interesting for me.
Plexes have tripled in value since 2000. Should we be happy or worried?
I’ll tell you three things about it. First, homeowners must have the intellectual integrity to recognize that the value of their property has increased due to falling interest rates. Nobody is so brilliant, we took advantage of the economic situation. Second, renovations are extremely expensive if you follow the rules. Third, the real estate reinvestment deficit is important.
Are buildings worth the prices being traded?
There is no good time to invest in real estate, but there is a good price. In Montreal, in the central neighborhoods, what is 100 years old has been demolished or renovated. We also have buildings from the 1950s with the original plumbing. Newer buildings are rarer. The foundation of my first building required steel piles and so did the second. I took that into account in the purchase price. In many places, you need to invest $50 to $75,000 net to make your building stable.
There are fewer opportunities, but there is no bad time to invest. What you should avoid is paying the wrong price compared to the market. My duplex didn’t cost me much because there was work in it. The owners were unwilling to invest the money and time. I paid $150,000 less than neighboring semi-detached houses. I can get involved in this work, I’m not afraid to keep going. I saw it as a very long term investment.
Many condominiums are also being built. What do you think?
A homeowner has to live somewhere without necessarily being a landlord. Instead of buying a condo, I’m buying the entire building. When you buy a Plex, you buy 100% of the land. It belongs to me. I am master of my domain, even if a tenant lives on the second floor. It’s better than having a condo where I own 1/16th of the land. Condominium ownership is fun at first, but 5, 10, 15, 20 years from now we will see many condo management problems with reinvestments, divestitures and not enough reserves. In addition, we build cheaply. Getting by with 32 co-owners who can’t afford investments ultimately means we’re not doing the work we want. If you buy a condo and want to replace your windows, everyone needs to replace their windows. I want to be in control of my life.
People forget about condo fees and local taxes in their calculations. You hear tenants throw their money out the window. Do the math: It’ll cost you $1,500 to $1,600 a month to be a co-owner, with a down payment and a risk. It might not be as nice at $700-800 as a renter, but for half the price you have peace of mind. That has value. I don’t own one, but I’m not stressed either. A plumber costing you $500 to $1000 a day is the equivalent of a month’s rent.
What role do emotions play in the market compared to rational calculations?
The problem is the plexes occupied by the owner. Beyond a 5-Plex, you are a real estate investor. As long as you’re moving around as a home landlord, you’re on the emotional side of things. […] Renters in the nicest apartments fear eviction because they know the owner buying the Plex will be living in the best unit. Emotions prevail. With small buildings there is no logical calculation because they are inhabited by the owners. Emotionless are those who want to let their building 100%.
Even real estate agents tell me what to look out for are emotions, kids, daycare, school. In short, convince parents that they are investing in quality of life. It has value.
There is a reality in Quebec, rent control, that forces homeowners to subsidize housing in some way. What is your point of view?
You concentrate the risk in the hands of the owner, but you give him no return except for the capital gain, which is itself proportional to the rent. I understand that we don’t want to put housing in the hands of speculators as is happening in other countries or even in certain places in Canada where it becomes uninhabitable. They want to protect people’s right to live anywhere. The problem is that there is no balance.
Install a new $800 water heater and see what a raise you can get…You’ll never be able to pay for your water heater. Never! They therefore find themselves able to subsidize the replacement of the tank. I put $80,000 into renovations on one of my units. The Régie du logement gives me such a long convalescence that I will be dead before I see the end. And I have to finance this money.
The problem is that at the extremes we have two types of owners. One inherited a paid building who can afford not to raise rents and the other the owner who bought in 2017. Both live exactly the same regulatory reality, but cannot afford the same problems. Those who just bought can not have problems with non-payment of rent. The one who inherited can even afford to have no income and it does not change anything in his life.
To those who have just bought, the tenant says: “It’s your problem if you overpaid”, knowing that the Régie will not allow them to increase the rent. He’s not wrong, but there’s an overbid. […] Real estate is the only investment where you own 100% but have no control. […] The availability of land means that we cannot increase the rent too much, otherwise tenants will build or buy.
Despite low rents and vacant housing, public housing is being built for nearly $200,000 per unit. What do you think?
It’s shocking to see government funded housing cooperatives. It’s nicer than the condos next door. It’s not as well maintained as when people own it. So social housing costs society a lot of money. Instead of subsidizing the living space, I think we should rather subsidize the tenant. Are you a low-income renter who pays $800 a month but can only afford $500? So let’s grant a $300 benefit paid directly to the owner. Otherwise, homeowners don’t want welfare tenants in their building for fear of not getting paid. As there is no financial guarantee, we do not encourage the owner to take on tenants with limited funds.
What doesn’t count if you own it?
We need to talk about the psychological stress in the owner’s life, the stress of managing paperwork, paying bills, renovating. All this financial stress goes unpaid. Time is not taken into account either. I’ve had a building for almost eight years and the time I spend maintaining it, mowing the lawn, fixing little things, the tenant calling me because they broke something: I don’t get paid for that. So if I’m told I’m making a percentage gain in value, yes, but I would have put that time elsewhere.
I know someone who makes $30,000. For that person, a triplex will change their life. It allows them to earn a retirement they couldn’t afford.
For me I tell myself that it is inflation protection in the long term and I also think of my two children. That’s the benefit I see, but there’s also the mental strain and stress. I don’t want to own 100 doors, I’m a small business owner and see my investment as a diversification factor.
By Hans Brouillette, Director of Public Affairs, CORPIQ
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