I agree with Greg and Gary the numbers do not work. Realize students or any room by room or even suited homes usually have minumum double vacancy and maintance and much more attention by the property manager. Look for 12% cap or better for this type of rental. This shows a 8% cap so you need...

Congrats on getting out their and looking for deals to proceed on but this one is definately an negative cashflow property. I have it losing $341.00 a month based on your numbers. I realize BC is tougher to find cashflow than Ab but you probably will need to look for a suited unit. They require...

I dont know how to link to the other topic but here is a great post by Barry Mcguire about searching titles. For free you can look at what house sold for going back sometimes to first sale. This is really neat and you can see what a your or somone elses house was bought for 10-20-30 years ago...

I have also used Ikea their price was untouchable and the quailty is good. Just the plain white ones I have used in 2 different houses. The nice thing is if you need some asap they stock alot as most the time you have to wait weeks for cabinets.

QUOTE (sikander @ Mar 23 2009, 03:40 PM) Hello, I own a second mortgage on a residential property. Is it possible for me to get a current Mortgage Statement for the 1st mortgage ? I`ve been told I can request a "verification statement" of the 1st mortgage from the 1st mortgage holder. Do I...

I also use signs I simply put Direction arrows "For Rent"on a busy road that lead right to my house + The sign on the lawn to of course. Do this and your phone will ring off the hook! I got tired of the phone ringing with unqualified unscreened callers so I also have a one page sheet with a...

i) Professional Property Management Inc My brother and I both have had terrible experience with them. They are incompetent and do not return your calls and when you ask them to do basic propeerty management stuff like issue an eviction notice when rent is not paid(3 weeks late). They respond "Is...

We actually have a group that tries to meet once a month were kinda hit and miss though anyone wishing to join PM your email and I will get you added to the list and will inform of upcoming meetings. In my experience and other investors ive talked to the home rental market is great and decent...

Here are some other ways to make money once you get some hands on experience in investing following the REIN system some are riskier than others but if you know your market VERY well they can all be profitable and can provide instant cash but the real money really is made in long term cashflow...

QUOTE (nepoez @ Dec 18 2008, 09:34 AM) I don`t think ur really up $300k net worth. If you bought $1M, $800k borrowed, $200k down. they take your property and now you own nothing but you lose $200k + and principal payment. Not from original investment NO. But from the time you own the asset to...

QUOTE I am well-aquainted with the market in Edmonton, so I will speak about that particular market. (Calgary & Edmonton do tend to perform similarly however) In the last 60 years in Edmonton, if you bought a property and held it for 10 years, the worst thing that would happen is you would have...

QUOTE (investmart @ Dec 17 2008, 09:59 PM) Hi, Just our of curiosity, what happens technically/what is the process when the bank does not renew the mortgage for the reason nepoez mentioned above and no other bank "wants" you? The bank suddenly owns the property?? I mean can they really do that...

-A Guaranteed 12% interest on your investment -Your investment is secured by Grande Prairie Real Estate ( Same way as banks are secured directly on title) -Homes are currently owned and cashflowing (Need to acess equity without hefty CMHC fees) - Borrower has excellent credit and 6 year track...

I have also found that appraisers just go with purchase price. Even when I KNOW I got a great deal on a property when the bank requires an appraisal the appraisal comes back at exactly what I bought it for what a coincidence! I have also found with refi`s that the appraiser will appraise for the...

Hi I`ll share my Story Sorry it`s a little long In my area (Grande Prairie) I have only seen 2 Judicial Sales advertised in the last few years. One of them I bought, but alot of things had to fall into place to make it a deal. The one I bought was advertised in the paper as a judicial sale of...

QUOTE (mikecunning @ Nov 22 2007, 11:14 PM) Wow, 30k to payout a mortgage that is huge. Sounds like a HELOC is the way to go...however, get some advice from an expert in the field such as Peter Kinch`s Canadian Mortgage Team...try www.peterkinch.com Good luck! Mike I have recently taken a...

I have recently got a great deal under Contract on a duplex in Grande Prairie. It will positive cashflow from day one with very conservative numbers. I will be closing on the deal next week and am looking for a Money partner to provide down payment. I am approved for a mortgage and can close...

I am also in Grande Prairie and have been unimpressed by Property Management (Richer Realty). Much of the same stuff as it sounds like with Carver they sound like they sound like they care when on the phone and meetimng with them. But results renting out places now that things are slower is not...

Thanks for the advice I will keep this in mind and look at other towns as well

I have been looking for a good area to invest in long term.I have been in northern alberta and have enjoyed some huge apprection in rentals and dont like the idea of paying $300k for a rental so I am looking elsewhere. I see the low prices and decent rents of Windsor and see alot of upside...