Butchy Dakkar
Dark Butch Yak didn't seem right.
- Oct 3, 2020
- 2,130
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Traded Linus Ullmark traded to OTT for 25th, Kastelic and Korpisalo(25% retained)
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Alf Silfversson
Registered User
- Jun 8, 2011
- 6,140
- 5,320
If you've got say 5 mil lying around you can likely get some kind of GIC or whatever that gives you 5.5-6.2% these days. Maybe more. He can probably find a mortgage rate at 5 or even under 5. GIC pays the mortgage rate, plus a little extra on top.
TheNewEra
Registered User
- Jul 10, 2013
- 8,383
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Golden_Jet
Registered User
- Sep 21, 2005
- 28,020
- 14,924
Usually the best GIC, is around the best 5 year closed. Don’t usually see a GIC more than a mortgage. So a wash at best.
Alf Silfversson
Registered User
- Jun 8, 2011
- 6,140
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I was offered a 5.7% GIC last week. Granted I haven't been shopping for mortgages but I'd imagine a guy with Ullmark's financial leverage could probably do better than that on a mortgage rate. Plus, he may just be putting things in a higher risk fund that could easily get him 7-8% interest (with risk of course).
The point is there are definitely reasons for people with his cash/income to not pay cash and take on a mortgage.
Micklebot
Moderator
- Apr 27, 2010
- 58,660
- 36,861
The overall point is you can get a better return investing the money than it costs to finance the house. Put it in mutual funds, you can easily beat the current cost to borrow, albeit with some degree of risk.
frightenedinmatenum2
Registered User
It is stupid that Staios didn't make the trade contingent on Ullmark locking in a favourable mortgage rate.
He took a big risk by giving up a 1st without Boston allowing Ullmark to negotiate with the Bank Of Canada.
He took a big risk by giving up a 1st without Boston allowing Ullmark to negotiate with the Bank Of Canada.
Alf Silfversson
Registered User
- Jun 8, 2011
- 6,140
- 5,320
Hey, at least he didn't head down to Payday Loans to seal the deal like a certain ex-GM would have tried.
mysens
Registered User
- Apr 9, 2013
- 1,141
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I will find out today what street he bought on and see if it is a cash deal or mortgage involved lol!!
umma gumma
Registered User
- Apr 8, 2005
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BonHoonLayneCornell
Registered User
You get the address and have someone pull title. It's that easy. It's a matter of public record that we know if the property is encumbered or not lol.
mysens
Registered User
- Apr 9, 2013
- 1,141
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Correct, but not yet public if the deal has not closed yet officially.
mysens
Registered User
- Apr 9, 2013
- 1,141
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So his house cost him $3.4million. And get this, because he is a non Canadian citizen, he had to pay a whopping 400k in land transfer tax. The good thing is when he leaves the country, he gets that 400k back.
frightenedinmatenum2
Registered User
Good to hear it was 3.4. I was worried he bought the place on Catherine street.
AchtzehnBaby
Global Matador
I used to shoot up there all the time...Good to hear it was 3.4. I was worried he bought the place on Catherine street.
Pierre from Orleans
Registered User
- May 9, 2007
- 28,328
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That explains why you're a bit weird.
mysens
Registered User
- Apr 9, 2013
- 1,141
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This high priced home purchase of our super star gaolie makes me feel good....this is a very expensive home and the thought of him keeping it for one year as an investment goes right out the door. There is no room to make money on this home, regardless of how the real estate climate changes. I would think there is something going to happen within the first few months of the season as an extension.
AchtzehnBaby
Global Matador
If this team has another shitty, "leave the goalies out to dry", start to the season, he will sell it at a $500,000 loss.
Sens of Anarchy
Registered User
- Jul 9, 2013
- 68,077
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YouGotAStuGoing
Registered User
Infinitely better approach than the Matt Murray signing. I'm so optimistic this will work out well for all parties.
TSN 1200
@TSN1200
Ullmark says he, his wife, kids and dog are all settling in nicely.Says he likes the calm of living here. No sirens at night.
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12:28 PM · 4 sept. 2024
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Yes, there are people (investment advisers) who have reasons to advise people with high incomes where to invest. Those advisers are not always worth the fees they deduct.
I would want to sign him rather than dilly dally about. Get on with it Steve!
Everyone knows this means Ullmark wants to wait, which is absolutely fair. Has a young family and has no ties to the organization.
Sounds better if it's a mutual decision, but everyone knows Staios would be thrilled if he could extend Ullmark now.
bert
Registered User
- Nov 11, 2002
- 37,576
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He spent almost double that haha. But its a stones throw away from a great elementary school, hopefully his family likes it and it encourages him to sign and he is a good fit of course.
Probably, but given the massive goaltending blunders the sens have recently had its probably a good idea for management to see if its a fit before giving them the keys to the city like Dorion did with Murray and Korpisalo.
Its a crazy concept to have a competent GM eh. Such a weird feeling.
If Ullmark were to extend right now, I wonder what that deal would look like. 8 years at $8 million?
Maybe he'd accept a lower caphit if we front load it with signing bonuses (c'mon Andlauer)
Maybe he'd accept a lower caphit if we front load it with signing bonuses (c'mon Andlauer)
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