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  1. DaveToynbee

    Edmonton Property Management. Who Sucks and Who Rocks?

    Realty Corp - Poor response time, didn`t listen to suggestions or requests or follow-up with questions/confusions, poor statements = not recommended Libertas - Although I`ve been recently slammed with 4 vacancies in a one week period, I can`t blame them for job losses, bad relationships and...
  2. DaveToynbee

    JV`s and small partners

    Hey Mark, I`m not sure if this was what Brad was refering to, but you just explained the jist of what we call in REIN, the " Hassle free tenant strategy". The basic deal (could vary): An investor would put up the 5% down + closing costs You would get approved for the mortgage at 5% down You...
  3. DaveToynbee

    Fixed or Variable?

    woops...that should have said Thomas and Mike.
  4. DaveToynbee

    Fixed or Variable?

    . I Also have the samr thought as Greg and Thomas right now. I am currently finalizing a 5 year fixed with firstline at 3.99%
  5. DaveToynbee

    How to get my interest tax deductable?

    You could also loan some of your money out from your credit line to another investor for a pre-negotiated return or joint venture to help offset some of the new property expenses...and allow you to deuct the interest payments. How much would you like?
  6. DaveToynbee

    How do you calculate cash flow?

    + insurance + property taxes too (break yearly into monthly and add into your monthly expenses)
  7. DaveToynbee

    Rich Dad Poor Dad

    If anyone is interested is a Rich Dad three day training session for two people, I will give them a smokin` deal. I`m not interested in going myself.
  8. DaveToynbee

    Wheres the Best Place to invest in Canada?

    Jordan, I live in Vancouver, and have been investing in Edmonton for the past few years. I don`t find the distance factor to be much of a problem. It has it`s pro`s and cons. pros: - Allows me to live my life while the property managers deal with the day to days - No Proper transfer tax in AB -...
  9. DaveToynbee

    Houses VS. Apartment Condos

    "you RE investors"...hehe. I have found that my suites in houses have rented as quickly as my townhouses....no difference. As long as they are located in areas with a strong demand for rentals, it shouldn`t really matter....but depends on the people you want to attract/masrket to. Whether one...
  10. DaveToynbee

    BC Commercial Purchase Contract

    Does anyone have a template for a BC Commercial Purchase Contract that they can send me? Thanks!
  11. DaveToynbee

    Vendor Take Back

    No, you`re right. Above, I meant that you wouldn`t pitch the capital gains deferal as it wouldn`t be applicable in an owner occc`d scenerio.
  12. DaveToynbee

    Vendor Take Back

    Trial 3: banks usually require 10% of your cash in the deal regardless of the amount. Best to Talk to broker about this lawyers will do all required paperwork as negotiated - register seller loan on title as second motgage.
  13. DaveToynbee

    Vendor Take Back

    QUOTE (DianneDachyshyn @ Jun 25 2008, 07:51 PM) We would like to learn how to use VTB when placing offers, but we aren`t too sure how it works. We don`t know how to present the deal, how that affects our calculations and how the banks and lawyers treat the VTB once the offer is accepted. Could...
  14. DaveToynbee

    Vendor Take Back

    I have used the direct honest approach from comfree listings and it worked 2 for 2. There can be a few advantages in vtb`s for a seller depending on their situation. In my case, both the sellers were selling owner occuppied townhouses...so you could count out capital gains deferals in the pitch...
  15. DaveToynbee

    Edmonton Property Managers

    I use RealtyCorp Inc. 780-701-4503. They charge 10% mnthly + 500/mnth for each tenant placement.. They are a full service company and do a good job. Talk to Jeff...and Tell him Dave Toynbee recommended you.
  16. DaveToynbee

    Quickstart VS rein membership

    My opinion:Go to the quickstart...and if you want to continue being informed afterwards (and you think you will actually do the stuff), then join regardless of where you live. It`s a nice bonus to go to the live meetings because of the networking and the overall excitement of being live, but you...
  17. DaveToynbee

    Creative Purchase for non-profit organization

    You can try this website for potential grants or loans: http://www.canadabenefits.gc.ca/
  18. DaveToynbee

    Exit Realty Grande Prairie

    I`d support the grouping together in efforts to find a good PM. I`ve been holding off with investing there because I haven`t heard of any good PM`s there and haven`t had any luck finding one either.
  19. DaveToynbee

    The First 3

    I would still pass this by your broker. If you play your cards right, whether having 2 or ten properties, as long as they service and you are selecting cashflowing properties on all investments, you shouldn`t hit any walls. That being the case, you`d be better off with two properties right now...
  20. DaveToynbee

    The First 3

    I think you may have misunderstood a little about how the 1.1 rule works? For banks that use... or used the 1.1 rule, It only helps you in that the bank will not even consider the properties in your portfolio for use in your debt servicing calcs if the rental income is 110% of expenses after 3...
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