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real estate investing
rent to own
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Hiya, At the April Ontario workshop, Russell mentioned that he had done an interview with somebody named Marty Dopson (?spelling) regarding using one's RRSP in some way to invest in real estate. I tried to look for this on the website but couldn't find it. Does anyone know if it's online...
18 May 2013
tax accountant specializing in RE investing
Looking for an accountant in Victoria, BC. Have lots of questions regarding what expenses you can deduct against rental income. Can the interest payments on a Line of credit be deducted against rental income or only interest on mortgage payments? We are putting a suite in our principal residence and...
9 May 2013
Re: Rent to Own Potpourri.....
Thanks everyone, just one final pull together here--and any advice or experience to share is appreciated.. I use a 3% markup presently, and tenant first rent to own. In talking with a peer, on of us says "Mark it up by 3% per year from the purchase price (my purchase price), no matter what the purchase...
17 Apr 2013
The Real Estate Cycle-Edmonton
Hi folks, Just looking to engage in a chat with folks who like to study the "real estate cycle"--Edmonton in particular. Am currently in a situation where I have almost more options than I know what to do with, having just been approved for a sizeable mortgage amount at the "mortgage war"...
26 Mar 2013
Property Manager in Mississauga
Hi Everyone, Can someone recommend a Mississauga Property Manager? I have a basement apartment that needs renting and managing. If there is anyone out there that could help that would be great. Emmett firstname.lastname@example.org
4 Jan 2013
ANYONE FAMILIAR WITH ROCHESTER,AB?
Hello Fellow REIN members. I want to get some feedback on Rochester, AB. I know it is a smaller community. I have been presented a file to Lease Option for the current owners. Income is good, 10% Equity Security Deposit. Had it been in a major city centre or close by, I'd have no questions about...
3 Nov 2012
Advice on triple car garage rental
I am about to build a triple car garage 24x28. My question is for rental purposes, is it best to do two Garage doors (one 16x7 and 8x7?) or should I do three 8x7 garage doors and should I be doing three man doors if I do as well? What typically rents out better.
4 Jul 2012
Agreement for Sale on Raw Land in BC
Hi guys Looking for some quick thoughts on this topic. Property- 5 acres of raw land. Price of $185,000 Plans- Agreement for sale and build personal residence on land in a few years from now. -Agreement for sale and possibly sell raw land few years from now at a profit. Seller is retired and owns property...
14 Jun 2012
PC Financial not allowing business deposits
Several Rein members have mentioned they went with the no-fee PC financial accounts, one for each property. This seems easy to maintain at first, and I have set up accounts accordingly. An issue has come up that they do not allow deposits made in the trade name, how is this best accomplished for monthly...
7 Jun 2012
Cambridge - Utility Bill: After Tenants Evicted
Hello, I am looking for some guidance on an issue with the utility companies in Cambridge, Ontario. The property was rented out to a family under the terms that they pay all utilities. They did have all of them under their name and were paying them. However, in January they started having issues and...
7 May 2012
I'm looking for the best way to collect my rent. Currently they send me post dated cheques and its very time consuming because every 3-6 months I have to contact them so they can send me another batch. I'm looking for an easy and effective way. I currently have two incomes in Ontario, but looking...
2 May 2012
Calgary mortgage broker, realtor, and any updates on best communities to buy in?
I am looking to buy my first investment property in calgary and am wondering if anyone has suggestions for a good mortgage broker, a good investment realtor, and any updates on best communities to buy in?
24 Apr 2012
60 Amp Service in 4plex
I am looking at two 4plexs in Red Deer that was built in 1988. The property cash flows very well, but the inspection last week revealed that there is only 60 amp service in each suite. Is it difficult to get proper insurance on suites like this? My electrician feels that 60 amps is ok in a multi-suite...
16 Apr 2012
Re: Creative down payments?
Thank you both, Thomas and Sherilynn, for you sharing your insight. I can truly understand why they say that the first investment property is the most difficult obstacle to overcome for new investors!
14 Apr 2012
Re: Tax Tip – Reasons to NOT incorporate
Tammy thank you for this post. “From the government's perspective the real estate in your corporation is only a business if you have more then 5 full-time employees employed in the rental business. If you don't have more then 5 full-time employees it could actually end up costing you more...
25 Mar 2012
Liability With Burst Water Pipes
Yesterday afternoon I received a call from my tenant living in a basement suite. He came home for lunch to a water pipe that had froze and burst resulting in water covering approx 90% of the floors. The suite was completely renovated 6 months ago and when the pipe burst some of the blow-in insulation...
20 Jan 2012
Re: Digitizing Receipts
I've spent a lot of time researching scanning solutions and used both NeatReciepts and ScanSnap for a number of years. If you're thinking of buying a scanner, ask yourself: Am I planning to scan reciepts only? Will I scan other documents too? Do I need the data from the reciepts (like dates/amounts...
11 Jan 2012
Re: Non-conforming 4-plex
I have had a recent experience with what I thought was a "grandfathered" 4-plex in Mt. Pleasant. It was built in 1972 as a legal four-plex. The kitchens down were exactly like the kitchens up, the windows in the lower suite large, 2 laundry rooms on each side, 2 water heaters, 2 furnaces. There...
4 Jan 2012
Funds to invest all tied up in RRSP's for now....
I'm a new member of REIN, joining up after the BC ACRE event after many reads of Don's books and others. Now slowly going through the steps of building up the Sophisticated Investor binder, getting pre-positioned with a broker and doing Property Goldmine Scorecards on Edmonton, Abbotsford and...
2 Jan 2012
Tenant wants to sublet: need Ontario-specific advice
Dear all: We purchased our first property in Hamilton in the spring and are still getting our feet wet at landlording. We thought we were doing well until our tenants of only 5 months advised us that they would like to move to another city for employment, and therefore, sub-let the home for the remainder...
23 Nov 2011
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