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  1. M

    Does somebody know a lender who is prepared to include the rental income in the TDS ratio calculation?

    Hi Xavier, I have 3 properties with >1.1 (or 110) ratio. The bank I deal with does look for that number in order to validate if your properties are performing and they do include 80% of rental income in the TDS calculation. However, they do not disregard my mortgages when performing their...
  2. M

    How will the new Reseau express metropolitain (REM) impact West Island (Montreal) property values

    It will have a positive impact on prices. A lot of sellers already take the development into account in their sale price but, since the completion of it is still 3-5 years away, you can still take advantage of its effect. However, I would not focus my whole investing strategy around this...
  3. M

    Is there active REIN members in Quebec?

    Hi Xavier, I started investing in mtl 3 years ago and it's been going great. Will be looking for my 4th property in the fall. Montreal is BOOMING. Vacancy on the island is under 2%! Do no get discouraged by the negative comments. When people say cashflow sucks in the big cities, it is a general...
  4. M

    Montreal Quebec members? Looking to connect.

    Hi Carl, I live in Montreal and got into real estate investing about 2-3 years ago. It is a great city to invest in right now!
  5. M

    about montreal real estate market

    I've been looking for my third property in Montreal for 4 months now. It is extremely competitive and there are a lot of hungry investors. Nonetheless, it is a very hot market which I believe has a lot of upside and finding good deals is possible.
  6. M

    Mortgage rules for a small mixed-use?

    Hi guys, I am looking at a triplex with a commercial unit on the ground floor (bike shop) and two residential units on the top floor. As I have never ventured into mixed-use commercial real estate, I am not sure how financing works. Can I move in one of the top units and pay only 10% down ...
  7. M

    First Tax season as a Landlord

    I apologize for bumping this thread up again but I have another question. I own a rental property with a JV 50/50 partner from which gross income is about $36k per year. After deductible joint expenses (interest payments, taxes, repairs etc.) we are left with ~$8k. Now, we have not deducted our...
  8. M

    First Tax season as a Landlord

    Hi, So if I understand correctly, depreciating your property to so that you have no taxes payable is the most desired option. However, instead of depreciating, why not invest in small repairs and renovations that you can deduct every year. This way, you invest in your property and increase...
  9. M

    Negotiating rates with banks

    Hello, I remember reading in "Real Estate Investing in Canada" that it is possible to negotiate a mortgage rate up to about 0.25%. Do you guys have any tips on how to go about negotiating the rate? I am currently purchasing my second rental property and dealing with CIBC for the mortgage as...
  10. M

    Hitting the mortgage wall

    Thank you all for the replies and tips! Sadly, REIN is not active in Montreal but I will come to REIN events in Ottawa which is close enough.
  11. M

    Hitting the mortgage wall

    Hello, I own one rental property (its going great!) and I am about to buy a second one. However, I still pay rent for the house i live in(it belongs to my friend so I pay cheap rent). Now, I believe that after I buy this second property, I will be at my limit in terms of borrowing money for...
  12. M

    Mortgage 25 or 30 years

    Thank you for the replies, My goal is definitely to acquire other properties as soon as I can. Therefore, 30 years is better because it would reduce my mortgage payments which would in turn make my DCR higher?
  13. M

    Mortgage 25 or 30 years

    Hello, I just bought my first student rental property 6 months ago. I chose a 30 year mortgage because my payments were lower than with a 25 year mortgage. I've heard and read a lot of comments about how you should get a 25 year mortgage. I know I would pay less interest and more principal but...
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