All posts by karimkanji



It’s here. There is no doubt about it. East Coast humidity, Stanley Cup finals (Go Oilers Go!), and Real Estate golf tournaments!

Golf. Real Estate. Summertime. They all go together like hand and glove. Over the years we have been fortunate to be invited to many golf tournaments across Southern Ontario. It seems that real estate professionals, mortgage brokers and commission advance guys love to golf. It’s a sport that demands the best and sometimes exposes the worst in all of us. Golf takes patience, accuracy, strength, goal setting and future thinking. However, golf also brings out the beast in many players. Colourful language and red faces sometimes can be seen in many golf courses around the country. Why? I think it’s because of the Tiger factor.

No. I’m not talking about Tiger Woods’ economic impact on society. I’m talking about the fact that many of us – because of Tiger – now watch golf. And it seems so easy! Putting!? How can that be so hard?! We all beleive that we can play as well as those professionals on TV. No wonder we lose patience at the first sand trap or pond. Admit it. We’re not as good.

Same thing goes for real estate. Buying and Selling a house? Why go to a real estate professional? How hard can it be walking through a home? Well, you and I know the benefits you bring to the whole transaction and process. I, for one, would never go through the process without a licensed real estate professional. Hey, it’s what you do for a living. The rest of us just know how to live in one.

Kinda like commission advances. Sure, there are other companies around. RealCash Bancorp Inc. is the only company that was started from scratch. RealCash wasn’t a greedy broker’s idea. RealCash was not even started by a mortgage company looking to further cash in on the hot housing market. RealCash was not even a banker’s idea! RealCash was created by a University of Windsor economics graduate named Joe who saw a need in the market – And Filled It. That was over 13 years ago. We are still in business and Joe still runs the ship. I beleive we are the most reliable, cost-effective and knowledgeable company in the country when it comes to commission advances for real estate professionals.

However, don’t take my word for it. Visit our website at See what our clients have to say about us. A wise man once said, “I can tell a lot about a person based on the company they keep.” I hope you’ll visit us and see how we can help you.

Now, if only I could persuade Tiger to help me with my long game….

Dear Friends in Real Estate:

The following is from Garth Turner who is the MP from Halton.

House of Commons
Hon. Garth Turner, PC, MP

Tax cut helps keep Canadian dream affordable

OTTAWA – The dream of home ownership was given a boost yesterday when the first Conservative budget in 13 years sliced the sales tax on new houses by a full percentage
point. That will have the effect of saving buyers of a $200,000 home more than $1,200 and more than $3,000 on homes priced above $300,000.
“This is money that simply does not need to be borrowed by many new homebuyers, reducing the size of the mortgage,” MP Garth Turner says. “That is good news because it
increases the affordability of new homes at a time when rising prices have forced many buyers out of the market, plus it improves family finances by reducing debt for others.
This is a great example of a government budget policy actually improving the lives of Canadians in a fairly dramatic way.”
The federal budget reduced the federal goods and services tax from 7% to 6%, effective July 1. Houses for which sales agreements are signed after the budget date, and which
close after July 1 will have the new, reduced tax in place. Homes which have already been purchased, but are not yet occupied, will also get the tax break, by way of a tax
adjustment, reducing the GST to 6%.

Today at a media event at a soon-to-be-built new housing development in Kanata, outside Ottawa, Canada’s largest home builder, Mattamy Homes, voiced its approval of the GST
reduction. In addition, officials of the Ottawa Carleton Home Builders Association made it clear that the lower sales tax and the increased affordability it brings are great news for
an industry starting to be impacted by the spiralling price of residential real estate. “This appears to be a winning situation not only for homebuyers, but for the industry
providing those houses,” Turner said. ”Many experts believe that in the eighth year of a real estate expansion that rising construction costs and restricted land availability would
squeeze out more and more buyers. So the timing of this GST cut could hardly be better. It is a small but highly significant step in ensuring the Canadian dream stays alive for
hundreds of families who will move into houses in these fields which are now just empty. It shows this government is committed to taxing people less, and improving their lives.”

For more information:
Garth Turner, MP (613) 996-7046
Beth Shropshire, Mattamy Homes (416) 466-7044
– 30 –
House of Commons
Hon. Garth Turner, PC, MP

GST impact on new home buyers


The 2006 Federal Budget has reduced the rate of the Goods and Services Tax from 7% to 6% on all taxable items, effective July1, 2006. Currently the GST applies to the sale of
new homes, and the impact of the tax is offset by the New Housing Rebate, which is equivalent to 36% of the tax payable.
There is typically a lag time of several weeks or months between the time a purchaser agrees to buy a new home and becomes legally committed to doing so, and the actual
day the transaction is completed and possession takes place. The budget makes it clear that buyers signing purchase agreements on any day after the budget was announced
will receive the lower tax rate, regardless of whether occupancy occurs before or after July 1.

Under the proposed measures, the following specific transitional rules will apply in respect of sales of real property.

Ownership or Possession Transferred before July 1, 2006: The 7 per cent rate will apply to all of the consideration for a supply by way of sale of real property if ownership
of the property, or possession of it under the agreement of purchase and sale, is transferred to the buyer before July 1, 2006.

Ownership and Possession Transferred on or after July 1, 2006: The 6 per cent rate will apply to all of the consideration for a supply by way of sale of real property if under
an agreement of purchase and sale entered into after May 2, 2006, both ownership of the property, and possession of it under the agreement, are transferred to the buyer on
or after July 1, 2006.

Written Agreement Entered Into on or before May 2, 2006: For sales of houses, apartment buildings and other residential complexes, made pursuant to a written
agreement entered into on or before May 2, 2006, GST will apply at the rate of 7 per cent, even if ownership and possession of the real property are both transferred on or
after July 1, 2006. In these circumstances, where transfer of ownership and possession both take place on or after July 1, 2006, the purchaser will be entitled to file a claim with
the Canada Revenue Agency to be paid a Transitional Adjustment that reflects the GST rate reduction to 6 per cent net of any corresponding rebate adjustment.

(For more details please refer to


Karim Kanji

Just Think

Dear Friends,

Was March a barn-burner for you as it was for us? I sure hope so! Business was booming while our family welcomed it’s newest edition! Kahzmir Amin Kanji was born on March 13th at 10:26am in Women’s College Hospital. Kahzmir is doing great and his parents are sleep deprived! Our heartfelt thanks to all our family and friends and especially the wonderful people at Women’s College Hospital in downtown Toronto.

I hope these newsletters are helping you to better understand the role of commission advances in your life as a real estate professional. We’ve discussed how an advance can assist you in paying your taxes in time and, more importantly, how a draw on your commission can help you increase your marketing exposure and business. So, what am I going to write about this month?

Thinking outside of the box. Yes, I know this has become a cliché. Let me explain. Just down the street from our office sits a 50 year-old shopping mall that’s about to be torn down and rebuilt. At first glance I thought this was great. Growth is always great…isn’t it? Well, it’s supposed to be…

On my daily perusal of the nation’s newspapers I came across an article about this mall and it’s tenants. Unhappy tenants. Business owners and employees who will be out of work and out of business in a few short months. Oh yeah. I forgot about them.

As a real estate professional you have the ability to create unlimited wealth and opportunity. Income as large as you want! Flexible working conditions that allow you to catch baseball’s Opening Day in Toronto or the Stanley Cup Finals in Calgary! March, April, and May will see you have a couple of dozen closings and hundreds of thousands of dollars in commissions! You go on vacation, upgrade your SUV, register your child in a private school, take your spouse on a shopping spree. Soon enough the closings dry up and so does your income. Mortgage payments, car payments, desk fees and cellular bills start knocking on your door. What about your savings? Savings? Studies show that the rate of savings in Canada is somewhere between zero and negative. The rat race is not the exlusive domain of the employee…

Don’t tune me out. I’m here to help. Think about this: You take an advance on all your deals. You take 50% now and 50% after closing. What does this do? It decreases your paycheque but increases the number of paycheques you get. After taxes your income hasn’t changed much. Furthermore, your desire to splurge will decrease, thus freeing up resources and allowing you to continue to maintain your lifestyle. Instead of “rewarding” yourself for a “hot market” you reward yourself for hitting your goals.

Now that’s what I call thinking outside of the box…

That’s all for now. I hope you’ve learned something new that can help you in your career and business. I hope to also receive any feedback and suggestions from you on how we can better serve our clients and potential customers. Keep an eye on your inbox every month this year on informative articles.

Remember, visit our website at and read what some of our clients have to say about us.

Thank you for your time!


Karim Kanji


RealCash Bancorp Inc.

Canada’s largest, favourite and most affordable source of Commission Advances for the Real Estate Professional

No Gimmicks…Just Cash!

National Toll-Free: 1.800.265.2694


Welcome to RealCash Bancorp Inc.’s own Blogspot. To visit us online please check out . We will be glad to be of service to you!

Karim Kanji

RealCash Bancorp Inc.

“Commission Advances for the Canadian Real Estate Professional”
“No Gimmicks…Just Cash!”