Sounds like you're off to a great start Trizzy!

Can you tell me how you own a $324,000 house that you live in and that also generates (or can realistically generate) $2400 a month in rental income? Because I want in!!! Your LTV on the condo you want to purchase will have to be 80% or less due to the changes in mortgage law.

Lucy, I'm having a bit of trouble with a few things you said in your last post. First, you said "What is going on in the GTA market is alarming". When you use "GTA" you are talking about an area that stretches from Oshawa to Hamilton. There are a ton of markets within this geographical...

Thomas, What do you think is an appropriate cash reserve for say a one bedroom condominium unit? There are less major things that can go wrong (roofs, boilers, hotwater tanks, windows etc.), but certainly a lot of other things that may need fixing and always have to account for vacancies...

Without trying to sound like a complete jerk, which I'm sure I will, I find it troubling that you say your business and investing are your number 1 and 2, and that you don't have the luxury of searching for another accountant because you don't want the government asking why you have three...

My opinion. Toronto is a very large market. Many REIN investors are "down" on Toronto for a variety of different reasons. I find it somewhat hypocritical that some investors are quick to remind people that real estate markets are local, not national (i.e. don't place too much emphasis on...

How much was your previous lawyer charging you per hour? I can recommend a few lawyers in the GTA but they don't come cheap. Generally, the more experienced and skilled the lawyer the more they charge per hour. Ideally, the fact that they're more skilled and experienced (and you're paying...

QUOTE (RandyDalton @ Nov 12 2010, 10:00 AM) Hi Nicola, We provide handyman services here in Hamilton and charge $25/hour. Tradespeople run $30-$45. Keeping in mind in Hamilton our crews can get anywhere in 15-20 minutes we would look at no more than four hours. Probably more like 2-3. Now...

QUOTE (afshinrein @ Oct 24 2010, 08:14 PM) Hi, Anyone has any idea on why or why not to encourage buying a condo in GTA? The only 2 reasons I am not in favour of condo investment in GTA are: 1) Condo fee is a wast of cash flew 2) Huge inventory of condo makes it harder to rent or to sell. Any...

QUOTE (Rickson9 @ Oct 25 2010, 11:57 AM) A real estate investor friend of mine suggested to me that a 20 or 25 yr am allows an individual to use the mortgage as a `emergency release valve` if things get tight - you can move the 20 or 25 yr am into a 30 or 35 yr am. He`s never had to do it since...

I recently had to take out a mortgage for a property I was buying (personal residence). I agree with the general consensus that a shorter amortization is better, far less interest over the life of the mortgage. Nevertheless, I got a 35 year amortization and here is why. I can prepay 10% of...