Thomas gave you some good advise. Develop a good relationship with a private lender and they will make it easier and provide better terms with each successful project.
I like St Catherines but like everywhere else prices are taking off and it is hard to find anything. It is more blue collar then Niagara Falls so there are families with jobs and jobs are slowly coming back. Brock has refurbished a downtown property to create a theatre and arts centre which has...
I will be renting out a garage in Ontario (Hamilton) and I plan on using the REIN standard commercial/warehouse/garage contract. As a residential landlord I am use to asking for 1st and last months rent. Is this legal or the norm with commercial contracts. There is also a space for security...
Thank you for the answer. Appreciate your knowledge in this area and you seem to know more then the people and the Tenant Board. They indicated there is no real precedent for this and would be a crap shoot to pursue.
I have tenants in a condo townhouse who continually leave toys and things out on the driveway and front lawn as well as repair wrecked cars on the driveway. They are OK tenants and I get their cheque every month from the disability board so I am satisfied with them.
The issue with fixing cars...
Terri,
Last year I had to rent an apartment my Dad has in that area. I was surprised at how low the rents were compared to the current selling prices.
I rented to a young medical resident travelling to Hamilton. His primary complaint was those high rise apartment buildings you see on...
A foreign student from Kazakhstan took an application to rent an apartment I have in Hamilton. He seemed like a decent enough chap. He is going to an English language college and then will be going to Trent University.
How could I run a credit check on him. He says he has a credit card. Would...
Godfried
Thank you for the reply and clarifying things. Nobody will ague with taking personal responsibility for our actions.
The youth have certainly been turned off by our political process. When I was a young man, I felt public service was of the highest calling.
The process does...
Mortgages have been around since the beginning of civilization and people have done well with this type of investment.
A MIC is like a mutual fund of private mortgages. You will have someone in a suit taking his cut to manage the fund and do all the regulatory paper work. He is probably of...
They are protesting the gap between the super wealthy and the rest of the world. On top of this it is a realization business and the structures of our society are not set up for the betterment of society.
The link below gives a beautiful explanation of this feeling. I have posted this essay...
Adam,
This is a nice message and goal.
I understand what you are going for. It is about going from the finite to the infinite. What they don't teach you in business school is being sensitive to your clients. Not everything in business is measurable and objective.
Here is a video you may...
A private lender will also be able to help. First go Thomas' route. A private lender will only put in maybe 65%-75% LTV (purchase + reno costs) to start. Once you build up experience and a track record they will be willing to put more cash in the deal.
Michael,
You bring up a valid point on this one.
Raising interest rates in the Exchange Rate Mechanism from German Unification would cause the British economy to tank. I was also unfair to put Soros in the same class as these other high frequency traders who do not have the same subjective...