Recent content by Pump

so now that people have had a little time with 20% down, will getting a mortgage be hard? or is that a big enough down payment that shouldn`t be an issue provided the building is cash flow positive. talking duplex upto 6 plex buildings would like your thought

QUOTE (investmart @ Feb 22 2010, 05:51 PM) <br />Hi All,<br /><br />I have a unique situation/dilemma:<br /><br />A tenant who moved in recently, has asked me to prepare a unique Lease for him.<br />He has a case worker, meaning government is paying his rent HOWEVER he wanted them to pay me $100...

QUOTE (luckyluciano @ Feb 18 2010, 10:01 PM) Of course 5% down for principle residences still apply. they won't make any major changes like upping the min to 10% for principal res until they have a majority, they don't want to piss everyone off

QUOTE (ThomasBeyer @ Feb 18 2010, 07:07 PM) minimal impact as most home buyers are not investors ! These new regulations will provide a less levered consumer, a slightly cooler house price growth and a more cautious borrower. More specifically, CMHC announced the following changes on...

well when these new rules go into effect... since it will be harder for most investors to get a mortgage without significant down payment (min 20%) won`t that take a good number of people out of the buying pool. So with less people bidding and with the real issue of higher interest rates being...

QUOTE (miskog @ Feb 17 2010, 05:14 PM) Thanks but no money is actually exchangeing hands is all a rollover of the profits to the other four homes should i consider this deal even on the speculation of the other developments i would find out smoe solid facts about these properties before going...

QUOTE (ChrisDavies @ Feb 17 2010, 10:52 AM) I did hear that they're going to a 50% rental offset, which will have a real impact on qualifying. what do you mean exactly?

QUOTE (zimnicki @ Feb 16 2010, 08:12 AM) So you need 20% down now on rental properties, thats great, no more 5%, maybe i have 4 weeks to get another one. how are you getting under 20% down rental properties?

QUOTE (fumbrunner @ Feb 15 2010, 09:30 PM) More tomorrow, but it sounds like they are targeting investors and reeling in the use of HELOCs. Could be problematic for investors. http://www.cbc.ca/money/story/2010/02/15/f...gage-rules.html sounds like it will kill investors but does nothing to...

QUOTE (Rickson9 @ Feb 8 2010, 08:07 PM) A very important thing to keep in mind. I strongly agree. that is my concern, if rates go up and i can`t pass along the cost to the tenant... i better make darn sure the price i pay for the building gives a very good return when someone moves out, can...

QUOTE (Rickson9 @ Feb 8 2010, 08:07 PM) A very important thing to keep in mind. I strongly agree. that is my concern, if rates go up and i can`t pass along the cost to the tenant... i better make darn sure the price i pay for the building gives a very good return when someone moves out, can...

QUOTE (gwasser @ Feb 7 2010, 10:42 PM) QUOTE (ThomasBeyer @ Feb 7 2010, 09:31 PM) of course it is possible .. but unlikely .. today 5 year mortgage rate is slightly below 4% .. will it be 9% .. possible but very UNLIKELY ! Stress test your asset to at least a 6 or 6.5% interest rate .. if it...

QUOTE (housingrental @ Feb 7 2010, 09:16 PM) It is possible but is it likely that interest rates will be 5% higher in the next five years? Yes your numbers should still work with higher interest rates. 5% higher though? This might limit your potential investments so significantly that none might...

what is everyones options if interest rates go up 3-5% over the next 5 years? when the mortgage has to be refinanced? do the numbers still work? should we take that into consideration when putting in an offer?

QUOTE (ThomasBeyer @ Feb 3 2010, 03:33 PM) Step one: get a LOC on your house .. say 75% LTV or 150K Step 2: write a cheque to yourself for $100,000 .. and stick it in a money market fund @ 1-3% .. yes, you will have to pay prime or 2.25% .. or $1000 for 6 month NOW YOU HAVE LIQUID...