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Recent content by vnwind

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    City wants me to apply for Lodging House business license for airbnb house

    This happens in Calgary, I got a letter from city about from our neighbor complaints that I am operating Lodging House for my airbnb. I think this is because sometimes our guests happened to park in front of their houses (someone else parked in front of our house) and it is a public street. So...
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    Please help with mortgage math

    Yes I want to reduce my risk as much as i can on my first property. I will be smarter on my next one for sure :-)
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    Please help with mortgage math

    yes, I asked the mortgage company and that was the number they gave me. you are absolutely right about that I should only count interest saving.
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    Please help with mortgage math

    Thanks Thomas I understand that variable rate is much better option than fixed rate at this time, however it was my first rental property so I wanted to have everything fixed, this way i can manage my monthly cost and cash flow easier. (trying to make things simple on my first one). Will try...
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    Please help with mortgage math

    Hi guys I got a problem and I am not that great with Math so here I am asking Math wiz people on this forum :-) I got my mortgage last Dec for 5 year closed for amount of 278000 at 5 years closed rate 3.09% :-( so i asked my bank for options and they gave me this Option 1; add the penalty to...
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    Referral needed for cutting and installing basement windows

    Hi Sandy I am new to Rein and just recently joined. I just got my first property too and I was wondering if you can refer any cutting concrete company in calgary that I can trust? Thanks Tai
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    Duplex Suited?

    Bryce I don't hink you can suite legally a half duplex in calgary. The easier way is to enter address here http://www.calgary.ca/PDA/pd/Pages/Home-building-and-renovations/Secondary-suites/Secondary-suites.aspx Good luck Tai
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    Using RRSP Or HELOC for Downpayment for investment property

    Thanks Matt well, I transfer money from my HELOC to my saving just in case I can't find any mortgage deal and have to stick with my original deal. 100 dollars for interest per month is not bad, i can live with that. I got a referral from another friend and this time I am qualify for 430K and...
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    Using RRSP Or HELOC for Downpayment for investment property

    I just pulled my credit score today from equifax and there is no big purchase recently, my score is 779 which i think it is ok. This is what i got from him "We have to keep all of your monthly payments under 42% of your monthly income. At $88,000, 42% of that monthly is $3,080. With 2,200...
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    Using RRSP Or HELOC for Downpayment for investment property

    Hi Matt So i got back from David and i only got approve for 200K which does not make sense to me at all or maybe they have different risk tolerance level comparing to my other 2 mortgage brokers. What does not make sense is that I only got approved for 200K which not much different if I...
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    Using RRSP Or HELOC for Downpayment for investment property

    Thanks Matt, I contact David and tell him you refer me so let see how it goes. Can you set up matrix mortgage on the investment property? I am grateful that I got answers for my question and hopefully someday I will able to join REIN because I can start to see of so much potential to do great...
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    Using RRSP Or HELOC for Downpayment for investment property

    Thanks Trevor for your advice, I will definitely seek more mortgage broker and see what my best option is. Matt, among Matrix Mortgages, Street Capital Financial Corporation and Collin Bruce Mortgage, which one do you recommend and best suit with my scenario? Thanks
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    Using RRSP Or HELOC for Downpayment for investment property

    Hi SweetZone, Thanks for all your advices, I understand Edmonton is better place to invest than Calgary right now. However, with full time job so I prefer my first one is something close by and to learn much experience from it as landlord. So my hunting for Calgary continue :-)
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    Using RRSP Or HELOC for Downpayment for investment property

    Hi SweetZone, I hope for 2800 before utilities. 1600 up and 12 down. Do you mind to share what interest and term you got from Street Capital Financial Corporation? I will contact that and have a plan B is always a good deal Thanks
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    Does 40% downpayment requires income verification?

    Thanks Thomas, do you know any mortgage broker that specialize in this so I can refer my friend to talk to?
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