Recently, my bank offers me a Line of credit at 1:1 ratio using cash as a collateral. The term is like this: the cash has to sit in the bank investing in a fixed term GIC, right now, it is 2-2.5%. Then they loan you a LOC at prime rate, you can use this money to do whatever you want, if for...

I have a mortgage up for renewal on Dec. 1, it is with TD. It offers 5 year variable at 2.97% (prime-0.88), or fixed 5 years at 3.87. I always take variable over the last 14 years except those promotional 1 or 2 year fixed rate. However, considering the current interest rate environment, I...

Need to clarify one thing about the monthly mortgage payment amount. In the mortgage agreement with the lenders, they allow you to pre-paydown the mortgage about 15-20%, which varies from different lender. Say for example, if your current mortgage balance is $500,000, the monthly payment is...

Greetings to REIN members, I have a question regarding the proposal of JV buy out terms. When one partner offers to buy out the shares of another partner in a rental property, what costs are involved? I list the following estimated costs, please add on if I miss others. -Appraisal cost -Legal...

Hi, REIN members, need your thoughts about this. My property manager received a call from the Strata Manager saying that unit 202 has a water leak problem. Our rental unit is 302. She went to investigate that, and sent me an email like the following: " With the fact that there is not a...

Greeting to REIN members here. I recently refinanced a rental property and pulled some extra equity out of the property. It is not a big amount, close to $100k. Currently, it sits in the checking account, I wonder what will you do with this money. -investing in a savings account with 2%...

Hi, Experienced rein members, Need your thoughts regarding the following situation. We have a few rental properties in a building in downtown Vancouver. Early this year, the council proposed to seek the possibility to sell the building at land value to potential buyers. (Cases like this...

Hi, Can anyone recommend a BC lawyer with experience of the RRSP lending as a second mortgage? First time to deal with RRSP lender (who is out of town lender with account already set up with the trust company). The property is in BC and I am a BC resident, therefore, need a BC lawyer to...

Hi, All, need your brain regarding the following: I have a number of rental properties in one building. The strata management company asks to put a notice in the building lobby to allow all the residents access to the online building minutes. (They have not collected all the email addresses...