QUOTE (Sherilynn @ Aug 3 2010, 03:12 PM) Please always include the province in your post. That helps ensure that you get relevant answers. My next question is how many people occupy the upper suite. This is important for two reasons: 1) Houses, especially older ones, are not usually designed...

Hi All, I recently purchased my first rental property in May of this year and all seems to be going well. The basement apartment is rented out to two mature students (4th year) and the main unit will be occupied shortly, but I have been collecting rent from the main since July. In May I...

Thanks Peter, I appreciate your input. I will investigate a little further before I proceed. Harold quote name=`tonypeters` date=`Jan 20 2010, 06:09 PM` post=`76634`] Harold, There are no "fixed" percentages or formulas. You have probably heard this saying before...Cash is KING! As a real...

Hi All, I was talking to a vendor today about his property and I popped (I am a newbie first time doing this) the question about a VTB. He was not familiar with this and I told him a little about it (which is not a lot), but he seemed warm to the idea. I don`t want to mess this up, so...

QUOTE (MonteDobson @ Jan 8 2010, 09:59 PM) Firstly, NEVER take mortgage insurance offer by lending institutions...it is a rip off! Your are much better buying a separate "life" insurance policy thru an independent broker, with enough coverage to protect your desired assets. Secondly, we DO NOT...

QUOTE (GaryMcGowan @ Jan 8 2010, 09:54 PM) I believe you will get two different camps here when asking that question. We decline it every time. Think of it this way, You have business or property that is making money every month and taking care of itself. If you have team that you work with...

Hi All, I follow this board closely and I am learning all the time...Thanks! I was talking to my bank today about mortgage rates on a possible purchase of a rental property and he brought up the topic of purchasing life insurance. Property insurance, I understand you must have, but life...

QUOTE (thomasbeyer2000 @ Sep 19 2009, 01:32 PM) a LOC is an extension of your chequing account .. so pay down as much every month as every $ on it costs you interest. So, why keep $12,000 in the chequing account and a LOC balance of $245,000 .. if you could reduce the LOC to $233,000 ...

Hi, Housedoc, luckyluciano, kboughen and invst4profit, I like to thank you all for the prompt reply to my topic. Your comments are appreciated. This is a great forum for beginners! I am hoping to see the property tomorrow with my realtor. Take Care!! Hardel

QUOTE (housedoc @ Sep 19 2009, 10:04 AM) Advice? You might want to improve you math skills first! 20% 0f 290K is 58K.....5% of 3000 is 150..... You have left out some expenses: LOC, legal, closing costs Where is it located? Learn all you can about landlord/tenant rights and responsibilities...

Hi All, I follow this forum on a regular basis and find it very informative. I am still learning and hope to learn more... My wife and I have been on the fence about investing in real estate for a few years and have finally decided to to take the plunge. We are both in our mid-forties and...