QUOTE (ThomasBeyer @ Aug 14 2010, 11:14 AM) You can depreciate the asset by 4% of the house value annually. Not land. Thomas, thanks, great point about CCA. I have not used it yet and forgot that it exists. Godfried, thanks, you are right. Now I see, no double taxation. However, it is still...

Hi Real Estate Gurus, I ask you help to clarify me the cash flow question and taxes on cash flow. For sake of simplicity let`s assume the following: Rent: $1,000 Mortg Interest: $300 Mortg Principal: $300 Expenses: $300 CashFlow: $100 Sounds great? Sure, as REIN teaches us I have a $100 cash...

Thank you very much for your feedback. I love an analogy with the toilet paper. Obviously I take care of the common space and all light bulbs were working in his room when he moved in. Theoretically they should last longer than 3 months. Another thing - these ceiling bulbs are kind of...

Hi all, I have a tenant who rents an unfurnished room in the basement, all utilities included. He has been renting for only three months but already 4 ceiling bulbs had to be replaced. He keeps asking that I buy the bulbs for him. So far I did, but it gets annoying. I looked into our rental...

Brent and Michael, Thank you very much for your responses. That is exactly what I was thinking, I will move up my deductible. spark

Hi All, what is your deductible on home insurance. I mean rental of course. I have a single and duplexes with $500 deductible. Should I move up to $1,000 to save on premium?Those who with Meloche Monnex, do you have a bronze or silver package? What is your suggestion for rentals, does it...

QUOTE (RedlineBrett @ Jul 9 2010, 11:15 AM) Meloche monnex doesn`t do rentals. That`s it, full stop. I have three rental properties with Meloche Monnex. They are fully awear of rentals and even cover rental loss in case of a claim. BTW, investors who with Meloche Monnex, do you have a bronze...

I have a question regarding tax-deductability of these gifts. Can we deduct these flowers, gift certificates, Tim Horton`s cards, etc that we give to out tenants? or we simply eat the costs? if we deduct, should the tenant report these gifts on his income statement? thank you, spark...

Thank you Furnbrunner, it seems it is worth at this point to add to her (lower) income versus CCA. Once the duplex starts to cashflow fullsteam then I will consider CCA. QUOTE (fumbrunner @ Apr 21 2010, 08:11 AM) You should also evaluate if the benefit of claiming this cost outweighs the...

Thank you very much Thomas, I always appreciate your comments and answers. spark QUOTE (ThomasBeyer @ Apr 19 2010, 06:06 PM) You can expense ANY actual and reasonable expense, regardless who does it. Is $250/month for those tasks reasonable ? Maybe .. depends on # of units .. perhaps a bit...

Hi all, My wife and I are jointly (50/50) owing an investment property (a duplex). She does booking, accounting, and helping with property management and painting/cleaning when tenants moved out. She is in much lower tax bracket then I. 1. Can we write off her labour costs from the property...

Luckyluciano, please cool down. I do not want FREE access to MLS. I am ready to pay a fair market value for comps and service what I need. For example, I do not need a taxi service in my realtor’s BMW, and I can show my house myself and I want to talk directly to the buyer and etc. Somebody...

Finally the long awaiting era of realtor`s monopoly for information coming to an end. It is great news - more choices for consumers. I understand why realtors are so upset, but now time is different (internet, hi-tech age!) and many things consumers can do themselves. Home prices are also...

QUOTE (BrianPersaud @ Feb 18 2010, 05:47 PM) Still awaiting word...it was a great show. Calum Ross had his usual amazing insights...and it was great to pick the brain of the vice-president of Scotia mortgages...not many opportunities to talk to these guys directly Amazing show. Thank you...

QUOTE (RCrein @ Feb 11 2010, 12:56 AM) My understanding of the position of the government, is that they want CREA to unbundle MLS listing fees from the other services realtors offer. This is consistent with the unbundling of telephone, gas and hydro distribution infrastructures in Canada and...