I just got two ScotiaBank mortgages at Prime - 0.75% (2.25%). Curious as to why you would be looking at 5 yr fixed (running right around 4% these days) and pay an extra 1.75% to the bank. On a $200,000 mortgage this equates to just under $300/month extra to "rent" the money. Prime interest...

If you are still looking call Mark Nysetvold at Mortgage Alliance (780-298-6958). He is an investor himself with LTO properties as well as buy and hold. If you mention my name he might buy me a coffee!

I went to a "freebie" night in Calgary about two years back. He was promoting the apartments in the U.S. Any questions about ROI, exit strategy etc were answered with "Ken owns thousands of doors, he knows how to make money". I got hounded for about two-three weeks afterwards by sales people...

I never do a RTO without a credit bureau, a job letter and a budget. If it is not win-win then the deal is no good for me. I also make routine check ups on their financial health both through bureau updates and the mortgage broker I set them up with. Since most of my RTO`s are with distressed...

I have a RTO that I collect bi-weekly payments on. The post-dated cheque thing is no concern as I fill out a form at the bank (TD in this case) and give them all the cheques at one time for them to deposit in my account as they come due.

Aneta I forgot to mention that I received the lease deposit from the proceeds of the sale. The paperwork was in place for the monies to come directly to me instead of going through the hands of the previous Owner. Your lawyer can look after this for you when writing up the offer. I also made...

Aneta I have done a deal exactly as you lay it out. I bought at a discount to FMV and entered into a lease-to-own agreement with the previous Owner for a purchase price inflated for appreciation over three years. I had no issues.

I went to one of the seminars as well. After the seminar asked the same questions mentioned here earlier about the ROI/exit strategy for the US apartment project. I seemed to have confused the young salesman as he couldn`t answer my question that night and my follow up e-mails were un-answered.

QUOTE (invst4profit @ Nov 29 2007, 02:23 PM) I wish that this forum had a "Real Estate Deal Analysis" heading where anyone, espically those looking at there first buy, could put in the details of a property they are considering for all the members to critique. This is of considerable benifit to...

Any good mortgage broker will help you through your situation. You do not have to wait years to get approved for a mortgage. Certainly the option of a JV arrangement with an investor is viable. I have done deals with folks in a similar situation to yours. You would become the "perfect tenant"...