I am an accountant, but tax can be complicated and thought maybe you had heard of something I had not. I think there are two tax issues here. 1) The refinance in your example is not taxable as far as I am aware. Even though you are receiving $70,000 above your cost, this is just a loan and...

As far as I am aware there is no tax consequence of refinancing. There is no disposition of the property as you are just borrowing funds and securing against the equity, regardless of the amount borrowed. Do you have any reference for this being taxable if over the cost plus improvements? I...

I agree that the item is capital in nature. However, using 25 years applies under the straight-line method and generally CRA wants you to use the declining balance method. I don't see an exception here for rain-screening that would qualify for straight-line, so 25 or 10 years would not be...

You don't know what you don't know. I didn't realize at the time I needed to ask about what communication I would be receiving. I do now. Live and learn. It seemed obvious to me that I would get some feedback, but apparently not. They have a great website, but unfortunately it doesn't tell you...

@RedlineBrett I do recognize it is a volume business, and was trying to be hands off as much as possible. Perhaps if the process was explained better upfront than I would have had less issues. I don't think it was unreasonable to ask why a tenant was not shown the property when they wanted to...

@BLAINEBRADLEY I was intentionally being vague as I don't want to stir the pot and they are still technically my property manager for 30 more days or until I find a replacement. For now, lets just say I required more feedback on the marketing process than they were prepared to give. In the...

I ended up buying a property that didn't have a suite in it and then I am in the process of putting a legal suite in. So I ended up with Libertas, but they fired me because I asked too many questions. So I am on the search for another.

After I search and get the results, when I try and select page 2 it is changing the search to "2". I noticed the URL is: http://myreinspace.com/search/searchresults.aspx?PageIndex=2 instead of this: http://myreinspace.com/search/searchresults.aspx?q=mortgage+broker+local&PageIndex=2...

Any recommendation on a property management that manages Illegal suites in Edmonton or Calgary then? I also wonder if everyone else feels the same. I'm not seeing any other option though.

I have been struggling with this. I want to buy my first investment property and it will be from a distance. I found several places that cash flow with illegal suites, but haven't found a management company that will take it on. What makes them illegal in Edmonton, is not meeting fire safety...

I was just reading about how some real estate experts prefer to use debt investors and pay interest rather than doing a traditional 50/50 joint venture deal. I like the sound of that, but I'm confused as to how this would work. To me it seems the mortgage would be 100% financed. 80% from the...

Great responses! Thank you all very much! I think that is everything I needed for now. Now, just need to get the funds together :)

Thanks for the responses guys. Surrey's Violent Crime Index isn't that much lower than Winnipeg and I'm not living here in fear. However, I've lived here my whole life and I do know what areas to avoid. Before I buy anything, I was planning a trip out to see the places as well as meet in person...

Someone suggested Winnipeg, Manitoba as a good place to invest. Out of curiosity, I decided to just take a look at the properties. I'm living in Surrey, BC, and I'm nowhere near having enough to invest here, so I was very interested in the more affordable housing markets in other provinces. A...

QUOTE (JoefromTO @ Sep 30 2009, 08:27 AM) Or you have 10 single family properties with no debt each worth the same $150,000.00, but now they are each bringing in $1,000.00/month positive cashflow, which is $1,000.00/month x 10= $10,000.00/month or $120,000.00/year. Plus you have a net worth of...

QUOTE (manojsingh @ Sep 27 2009, 09:03 AM) You can buy townhouse in Hamilton for 150000 and rent is $1300. Must be nice! I guess I need to move. *sigh* I actually found a place I can get for just under 100,000 in Abbotsford BC with a 750 rent which fits the 9% rule seeing as interest rates are...

Thanks for the quick responses. I was expecting to get an e-mail when someone responded, but I never did. kboughen, I like the idea of paying down the mortgages. I don`t see how you`d get $500/month cash flow without paying down the properties seeing as you`re using most of the rent to pay the...

I`m new to this, so hopefully I`m doing this all correctly! I just finished reading the Real Estate Investing in Canada and really enjoyed it. However, I was left with a few questions that I was hoping to get some insight on. My personal Belize is not to own 100 properties (although that might...