Recent content by ThomasBeyer

  1. ThomasBeyer

    Asphalt shingle warranty

    Call the firm. Send them the paperwork. If they don’t act take them to small claims court. Sent from my iPad using myREINspace
  2. ThomasBeyer

    Buy-to-Let Landlords?

    You need to know how to buy ( incl where to buy, where not to buy and how to finance), and you need to know how to let ( incl how to select tenants, how to set appropriate rent levels, how the law works, how to evict if necessary, how to increase rents etc ). Sent from my iPad using myREINspace
  3. ThomasBeyer

    Lease hold

    It’s getting more common in BC. Some folks won’t buy lease hold. In Vancouver you can buy waterfront THs in False Creek for under $400,000 now, but leases expire in the 2020s. No one knows what happens once lease expires. 99 year prepaid lease ok for the first 50-60 years I’d say then fast...
  4. ThomasBeyer

    Condo Conversion ?

    Fell free to msg me Consider legal issues, strata seed issues, financial ie mortgaging (ie partial discharge) issues and sales process / timelines. All doable but if financing too expensive, sales process to slow or condo reserve fund seeding too high it will fail or be unprofitable. Sent...
  5. ThomasBeyer

    Rent to Own

    Seriously? It’s a service offered to some that can’t qualify yet for a mortgage. Like any business there are sharks or shady players. No one is forced to enter into a rent to own situation. It’s also not 50% interest usually. Don’t confuse a shady deal you may have witnessed somewhere with the...
  6. ThomasBeyer

    CAP rate and financing CAP rate difference

    MF assets usually not listed on MLS. Contact realtors specializing in this space instead. There are less than 10 of those in Edmonton and less than 5 in Calgary. Sent from my iPhone using myREINspace
  7. ThomasBeyer

    CAP rate and financing CAP rate difference

    Value or price is what someone is willing to pay. While you might find them overvalued others might not. Where do you buy? Clearly there is plenty of inventory for sale in Calgary and Edmonton. As such your statement “nothing is for sale” is based on what? Why do you think these markets are...
  8. ThomasBeyer

    Multifamily in Edmonton

    You need to count mortgage paydown, and with an inflationary 2% asset value growth your return over 5 years approaches 65-100% cash on cash. Some thoughts on this topic here with a fictitious $1M. Real estate is like a three course meal (TM). It has three profit centers: cash-flow (or the...
  9. ThomasBeyer

    Foreclosure Process - From the Mortgagee Perspective

    It takes about 3-6 months before it heads to court. Then 2-6 month depending on how much resistance is put up or if effort is made to clean up arrears by borrower. Then usually a judicial listing is ordered, via court appointed realtor. That might be another 2-6 months. Then two things happen A)...
  10. ThomasBeyer

    FOREIGN BUYER WITH CANADIAN WIFE. TOTALLY CONFUSED

    Yes the wife should own the asset to avoid these taxes. You can ( or perhaps should) have a separate contract with her where the financial aspects are outlined. Alternatively you could register a second mortgage on property with some detail to ensure you get paid if there is a sale you don’t...
  11. ThomasBeyer

    Apartment building appreciation

    Real estate is a complex business where light and shadow are close together. Location matters, but so does price, quality of asset, maintenance backlog, rental upside, views, management, leverage, price of money, size, timeline, access to cash, marketing, ie expertise matters .. I have made a...
  12. ThomasBeyer

    Apartment building appreciation

    Don’t be a motivated seller. Don’t be a motivated buyer, either ! Real estate is like public transit: if you miss one there’s another one in 15-20 minutes !! Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor www.prestprop.com
  13. ThomasBeyer

    Apartment building appreciation

    2014 rent levels are a LONG way off. Maybe 2024. Prices did come down. Use 6% cap rates for Edmonton and 5% for Calgary on realistic NOI ( ie realistic rents, vacancies and expenses ) to get realistic prices. Many assets in Edmonton now sub 100/door. Both markets overbuilt with condos that eat...
  14. ThomasBeyer

    Rent increase

    If tenant agrees then of course one can amend any agreement. Just not unilaterally. You could, for example, agree to replace the aging carpet, change the old ugly bathtub or fix up the kitchen or appliances, so the contract shows some benefits. Why would tenant agree to a $100 increase if he...
  15. ThomasBeyer

    Rent increase

    You can’t increase the rent more than the prescribed limit ( currently sub 2%) unless the new ON government changes the act. You can however give an incentive to move voluntarily by waiving day 3-4,000 in front of them. That may do the trick. Sent from my iPhone using myREINspace