Recent content by EricBodin

  1. EricBodin

    Investing through a JV with non resident family members

    Thomas, I was trying to find out why there would be no annual filing required in my case? Is it only because there is no cash payment? Thank you!
  2. EricBodin

    Investing through a JV with non resident family members

    Thank you Thomas! It looks like having a Canadian corp is the way to go and if there is no annual filing, the cost will be minimal.
  3. EricBodin

    Investing through a JV with non resident family members

    Hi, I am interested in investing in a JV with 2 other family members. Both of them are from France. What would be the best way to do it? Through a Canadian corporation? Since I am a Canadian resident, what percentage of down payment would we need? Thank you ! Eric
  4. EricBodin

    using a corporation (with capital loss) to buy real estate

    Thank you so much for your answers Thomas. I was really on the fence wether or not I should keep the company or dissolve it, but I guess it makes more sense to use it for R.E investments! Now it is just a matter to change the name and the articles to go from restaurant industry to real estate! Eric
  5. EricBodin

    using a corporation (with capital loss) to buy real estate

    Thanks for the quick response Thomas! As it is a BC corporation, would I be allowed to use it to buy real estate in AB for example? Thx!
  6. EricBodin

    using a corporation (with capital loss) to buy real estate

    Hi, I guess I have a pretty strange question: I own a corporation (Ltd) in BC that used to own a restaurant and after selling all of my assets, I have now a pretty big loss of $150K with this company. I am planning on buying real estate investment within the next 6 months (used to be a REIN...
  7. EricBodin

    Renting for the olympics

    Hi everybody, Just wondering if any of you in the Vancouver area are thinking of listing your rental for the olympics. I am torn right now as I have a great location, 1 bedroom in Yaletown, 2 blocks away from BC Place but I would have to furnish the place and it is not for certain that I will...
  8. EricBodin

    Rent increase in BC

    Hi everybody, I have a condo in downtown Vancouver (Yaletown area) with a very good tenant (not a single problem so far) but the 1 year lease comes to an end soon. I was wondering, under the BC regulation, what the max rental increase percentage could be ? and if for the one who are familiar...
  9. EricBodin

    Investing from abroad

    Hi, I have been a REIN member since february and currently own 1 rental in Vancouver. I might be moving back to France for a few years as I am french and I have been in Canada for over 4 years. I would love to keep investing in real estate in Canada while in France but as I am not gonna be a...
  10. EricBodin

    Bc Lease Agreement

    Hi, For BC Lease Agreement, do you usually use the one available in the member ressources as it seems to be more specific to AB? or do you have an online website to recommend? Thank you Eric
  11. EricBodin

    Docs needed for Credit Check Criminal Record Check

    Hi, I have a quick question. I have to meet 2 potential tenants for my condo in Vancouver in a couple hours. I will do a credit check and criminal record check through Rentcheck, but they are still processing my application. Do I absolutely need a form from Rentcheck for the tenants to fill...
  12. EricBodin

    Bank Account for R.E

    QUOTE (C2Ventures @ Apr 19 2008, 09:49 PM) Yes a "reserve fund" is VERY important to incorporate into every purchase. I would suggest 1 month`s rent as a minimum. In some markets we are putting 2-3 months rent in a bank account as a reserve fund just to make sure. I would also suggest putting...
  13. EricBodin

    Bank Account for R.E

    Hi, Does any one of you put a certain amount in the bank account for each property as a safety net in case you need extra money for repairs or suite not rented...? Would it be 1 month of rent or more?? Thanks, Eric
  14. EricBodin

    Power Paperwork System

    QUOTE (bluerockgroup @ Apr 6 2008, 06:24 PM) Eric, As that bottom drawer gets too full, here`s what I`ve done. For each property where there isn`t enough space in the drawer, take and create a new empty folder and label it with the address PLUS the words OVERFLOW. In this file, make a table...
  15. EricBodin

    Power Paperwork System

    QUOTE (DonCampbell @ Apr 6 2008, 05:28 PM) These go in the "Permanent File", bottom drawer. Thanks Don, so it goes in the blue file. but after a few years, there is a huge stack of strata minutes. might need a few blue files! Eric