Recent content by Sherilynn

  1. Sherilynn

    How to pay off your mortgage faster?

    I've heard mixed reviews about "Velocity Banking." I've also heard it is sometimes tied to what amounts to a Multi Level Marketing program. One should use extra caution whenever someone is making money from referrals. The Smith Maneuver works well for investors. Ensure your personal mortgage...
  2. Sherilynn

    The most critical mistake landlords make...

    The response to this report has been overwhelming. Lots of great feedback and landlording questions submitted. In addition to the report, I've added a video to answer some of the questions I received. Please check it out.
  3. Sherilynn

    Handing 14 day notice of breach to tenant questions

    In Alberta, you may only serve on an adult believed to reside in the premises. To post the notice, you post to the main door to the suite rather than the main door to the building. Sent from my SM-G950W using myREINspace mobile app
  4. Sherilynn

    Tenant Screening Services

    Thanks, Tina. (That sleuthing presentation was especially fun to do. I'll be presenting it again online in the next couple of months.)
  5. Sherilynn

    Tenant Screening Services

    I use TVS, and REIN members do indeed get a discount. But we go a lot further than that. I did a couple of REIN presentations last year on screening and fraud detection. Perhaps you'd like to check them out in the "back office." Sorry, but I can't remember which months. (Help me, Tina?)...
  6. Sherilynn

    Calgary or Edmonton

    Edmonton, obviously. That's where all the really cool people invest. ;) I'd be happy to chat more about it. Feel free to message me.
  7. Sherilynn

    Bed Bugs

    I agree with the anonymous post. Here's our procedure: 1) Hire a sniffer dog to determine all affected areas. 2) Heat treat those units and areas. Yes, heat treatment is more expensive but a reputable heat treatment company will guarantee results with one treatment and will retreat for free...
  8. Sherilynn

    The most critical mistake landlords make...

    Greetings, all. Between camping and working on a new branch to my business, I've been largely absent for the past few months, and I apologize for that. After Wednesday's Edmonton REIN meeting (which I missed because my daughter had a volleyball game and I wanted to watch - she was awesome, in...
  9. Sherilynn

    Reserve Fund for Condo

    It may not be as bad as it seems. In some cases, major repairs are done in advance of the reserve study requirements, meaning the reserve fund is depleted ahead of schedule but that major repair is done and won't require the funds at the scheduled time. For example: a $200k roof replacement...
  10. Sherilynn

    Discount Real Estate Brokers - Good or Bad?

    Perhaps the reason many people think discount realtors are a good idea is because they have worked with (or heard tell of) substandard realtors in the past. In every industry, there are top performers, there are those who do the absolute least amount of work possible in order to still get paid...
  11. Sherilynn

    How damaging is cigarette and marijuana smoke to a unit?

    Two tenants chain-smoking in a 1000 square foot unit can make the place bleed yellow within 6 months. This will require oil-based primer on every surface of the property in addition to a full repaint. Where a regular 1-coat repaint could have cost you about $1500, primer plus two coats...
  12. Sherilynn

    Townhome rentals allowed

    In which province is this? In Alberta, the Condominium Property Act prohibits restrictions on rentals. While the Condo Corporation may have bylaws restricting rentals, they are unenforceable in Alberta because they contradict the Act.
  13. Sherilynn

    Adfitional tenant - what can I do?

    It's always a good idea to post the province in which the property is located, as the rules vary. No, you cannot raise the rent for a second person because there are rules governing when and how rents can be raised. However, you may be able to increase your utility billing if your utilities...
  14. Sherilynn

    Pipes sticking up in the back yard?

    Clothes line posts. (This is not a joke guess.)
  15. Sherilynn

    can I start investing with no money?!

    I would argue this applies to more than those who buy with no money down. It never ceases to amaze me how many people buy a property with negative cashflow either because they are in a rush to jump on the investing bandwagon or they simply don't understand how the numbers work. I get calls...