Ontario’s Landlord and Tenant Board is not responsible for Overleveraged Real Estate Investors, Businesses go bust all the time – May 28, 2021,
A portion of my personal livelihood is based on selling to the Canadian consumer, the difference between me (I have a big family by the way) and other Canadians is that I accept the fact that the Canadian consumer can screw me over in plethora of ways. If I’m selling something and Canadian consumers think my price is too high, they won’t buy, furthermore, if I own a retail store I accept the fact that some customers might STEAL from me, I also understand that my fellow countrymen might decide that you know what Canada needs “A CARBON TAX” and just like that the cost to operate my business goes up, via the government, but the CBC wants me to feel sorry for this Ankit Patel person who made the decision to get into real estate investing?
When you get involved in ANY business there’s risk involved, if let’s say some Liberal politician decides to raise the minimum wage, that’s actually a form of theft, how can the government magically give my employees a pay raise? That’s theft and it can be viewed as a form of destruction because if the government raises the minimum wage and the employee sees that my business hasn’t gone bankrupt, why shouldn’t the employee who probably knows nothing about business feel like they’ve been cheated by me for all of these years?
Humans do what humans do, if humans know they don’t have to pay for something and the government has their back, some humans will abuse that privilege, that’s why some of us don’t get into real estate investing. There’s no such thing as a RISK-FREE investment.
Canada is supposed to revolve around volunteerism and the morality of this nation is rooted in Judeo-Christian values, but that doesn’t mean Canadians have to follow these rules. Canadians can do whatever they can legally get away with. Going to court is expensive, when someone steals from my store, even if I catch them I have to ask myself if it’s even worth it to prosecute them because there’s a cost to prosecution, there’s a cost for everything which is why many of us want A SMALL GOVERNMENT.
But you see most people want a big government until the big government turns on them, if you’re in real estate investing and you bought a house with a mortgage, you’re the beneficiary of the Bank of Canada keeping interest rates ARTIFICIALLY LOW.
The reality of the Ankit Patel story is that he’s over-leveraged, I’ve lost way more than the amount of money during the pandemic, the difference between me and Ankit Patel is that I don’t run to the government or to the public to make me whole. I measure the risk of any investment based on the mood of the democracy, Canadians are moving towards socialism, I hate it, but I don’t know how to stop it, so I do what is necessary to survive.
The Ontario Landlord and Tenant Board is a government agency, I expect incompetence, when has the government ever been efficient with anything? There’s no incentive for any government agency to be efficient, it’s not like it’ going to go bankrupt, I sure as hell know that even in an austerity measures scenario the Ontario Landlord and Tenant Board is not going to be sold off.
In closing, some humans don’t give a sh*t, that’s the real world and if you’re in business you’d better adapt, now I don’t know if because Ankit Patel is a visual minority that someone might feel sorry for him and give him a bailout, but if you’re wondering why I know the Canadian economy is headed for collapse it’s because of the Bank of Canada, you have all of these real estate investing buffoons in the Canadian marketplace, who know nothing about profiting during an economic downturn.
Oh no I lost $10,000 somebody help me, to Ankit Patel and real estate investors like him who are overleveraged, grow up! Welcome to the real world!
Interesting times ahead