Final guidelines are in and it does include a 65% LTV for HELOCs. Additional credit above 65% could be provided but must be amortized. http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/guidelines/sound/guidelines/b20_e.pdf

Nik, I have a guy here in Winnipeg that does mine for $35 per cut and will go weekly or bi-weekly, your choice. if you want his name, PM me. Gerry

Haven't seen this posted here yet, but has implications for those of you using HELOCs for the purchase of rentals, or those of you using the smith manouver, etc. http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2012/06/osfi-relieves-key-mortgage-heloc-concerns.html Not sure...

Hi, I use Vertical and am happy with them. I would suggest contacting Vince there if you are have issues. they are the best of the bunch, in my experience. If you are set on moving, I would try Garmark. I have heard good things about them. Avoid Elite and Lead like the plague.

To each their own I say. I have met alot of people with a similar make up to invest4profit and have a tremendous amount of respect for people that work that hard. My dad is alot like that and I owe everything I have to the long, hard hours he has put in working in and owning a very successful...

I am surprised by this. Diffused light does not typically count towards natural light calculations. They must have had some very friendly building inspectors.

Does it serve as a means of egress? If so, it may be worthwhile to repair it.

Not alot of changes. New apartments are still exempt from rent controls. Small landlords can still increase rents for buildings with 3 units or less when a vacancy occurs (which is contrary to a recommendation from the RTB last year). It hurts those in the hunt for condo conversions, for...

There is nothing wrong with the transaction, as long as the transaction is DISCLOSED to all parties. You will likely have trouble finding a financial institution to finance it however.

Hard to say without knowing the property. How dated is it? Does it need new flooring, paint? I doubt new appliances would have an impact one way or another on the tenant. One thing that you want to keep in mind is that this is a business. That's not to say that you should completely...

OurRealtor, no disrespect, but looking at the multitude of questions that you asked here, you really need to talk to an accountant. As informative as the posters are on this forum, they are not a substitute for professional advice. If you want to save yourself an audit by CRA, hire an accountant.

Can you point me to a few? We are struggling the exisitng financial institutions that we are using.

Hi Thomas, yes it is being considered commercial and therefore CMHC is out. As mentioned, we have money in second position through a loan by one of the directors (under 5%). I guess to simplify the quesiton, are there institutions out there that will lend on the first position, knowing that...

A question for all you brokers (and others) out there. I am currently involved with a nonprofit looking to establish a child care centre in our area. The building that we are purchasing is being sold below the assessed value for tax purposes and while we have not had an appraisal done, the...

Nik has it pretty much bang on. Some of those high cashflow areas will be eaten away with the repairs that you will need to do. Nik has highlighted some of the areas to look at, I would have to agree with him on the areas he selected. North End is ok if you are far enough north. Area to...