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S N O W B I
R D S
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R V T R A V E L E R S
EVERYTHING WE DO IS DRIVEN BY YOU!
O’CONNOR COLLISION is renowned for effi ciency and quality of workmanship and we guarantee it in writing for as long as you own your car. Our experienced, well- trained technicians use the best equipment and materials to produce quality skilled workmanship that is second to none.
O’CONNOR TOWING is ready to serve you any time of day or night. We provide recovery service and roadside assistance 24/7. We can tow your vehicle to our shop, your home or anywhere you choose. Our drivers know how to get the job done right.
O’CONNOR GLASS services are second to none. Big or small, you can trust us to make your glass repairs effi ciently and hassle free. We are committed to your 100% satisfaction with every windshield repair or replacement.
OUR FLEET O’Connor Towing’s fl eet consists of fi ve trucks and a goose trailer. We have two 3-ton trucks, one 1-ton truck, a fl at deck truck and a large truck specifi cally designed for towing highway trucks and semi trailers.
rvsnowbirds.com 8am to 5pm, Monday to Friday
COLLISION TOWING Our Hours of Operation are & GLASS
O’CONNOR 24/7 SERVICE
• Flat Tires • Locked Vehicles • Dead Battery • Out of Fuel • Vehicle Recovery
• Short & Long Distance Towing • Transporting Equipment & Motorcycles Roadside Assistance 24/7
44840 Yale Road West, Chilliwack, BC V2R 4H1
www.oconnorcollision.com
For Towing Services call 604-792-3170
in your house is “savings” that can be used or converted into another asset to generate income and/or growth. Whether you choose to access these savings through a “Home Equity Line Of Credit (HELOC)” (DO NOT USE A REVERSE MORTGAGE!) or if you choose to convert the equity into cash through selling, as my wife and I did, depends on your stage of life and risk tolerance. Here is the obligatory liability statement: “Please consult your financial specialist when considering any of the strategies mentioned in this article”. Lynda and I chose to convert. My youngest child had graduated and was moving out. Anyone know the best way to keep your kids from moving back home (especially if they’re inclined to bring friends)? Sell your house and buy an RV! Having done that, we have not had one of my three kids move back!
The following strategy is only possible by using an investment specialist like those at Agility Financial, who are registered Exempt Market Dealers. With the money from our home we could have bought our 5th wheel however, by investing the money, we make 3.3% on the cost of the RV. Here is how you could do something similar. Use the banks money at 7% and invest in something like a Mortgage Investment Corporation (MIC) that has annualized returns of 10.3% and is 100% redeemable after 90 days.
If interest rates increase higher than the returns you can redeem the investment and pay off the loan, zero interest rate risk. BUT, because the investment is in mortgages, it automatically creates an interest rate hedge, your investment returns typically go up with the interest rates.
You can do the same thing by using your HELOC with the added advantage that the interest on your loan reduces you taxable income and saves you taxes. You can also do the same thing by using your cash to buy the RV then borrowing to invest however the interest on the loan is usually higher than a mortgage.
With the equity from our home, we financed our 5th wheel and found a very nice site at Illahie RV Park, recently renamed to Summerland Beach Campground and RV Park. After 1 year we were “permanent resident” and now our rent is the same each month, 50 feet from the beach!
Please contact the author of this article or your financial advisor if you have any questions regarding the strategies mentioned in this article.
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