QUOTE (Dan333 @ Oct 20 2010, 05:00 PM) Hi everybody, first time poster long time reader. I recently have the opportunity to purchase a 5 door appt. building (4 2 bedrooms 1 bach.) by my calculations 8 percent cap rate. Rent Income 35400 Operating costs 12390 (35 percent) List price 289000 The...

QUOTE (kboughen @ Oct 17 2010, 08:27 AM) The downside is that it takes away the "no fee switch" option for home owners at the end of a Standard Mortgage Term. For example, at the end of a five year fixed rate Standard Mortgage Term, homeowners can shop around to different banks to see which bank...

QUOTE (MitchCollins @ Sep 15 2010, 03:07 PM) Which banks are open to this and when does this make sense? I`ve got a mortgage at 5.2% fixed maturing next October with RBC I should try this on. Most everything else is at either prime -.9% or prime -.5% This is a great thread..I didn`t know you...

QUOTE (nubiwan @ Sep 15 2010, 11:28 AM) Considering putting up 5% (to cover down payment) as an incentive to sell my house which I just renovated in the last 6 months. How do lenders view this type of financing when considering an applicant who is borrowing the downpayment? My feeling is they...

QUOTE (nubiwan @ Sep 25 2009, 10:27 AM) Thanks Brett. You cannot buy a new 1300 sq ft house in our Province for under $200K. It`s become quite ludicrous. Therefore my 900 square foot renovated bungalow (on a handy sized laerger than average lot) at $120-130K would be a steal for a first time...

QUOTE (MonteDobson @ Sep 10 2010, 02:10 PM) Thanks Rebecca, My concern is that we`ve got 8 mortgages already, so may "hit the wall" at some point in the residential sandbox. And commercial lending relies more on the cashflow of the building rather than the credit of the borrower. Hi Monte -...

QUOTE (MikeMcC874 @ Sep 9 2010, 04:33 PM) So I just went out today and refinanced by `3 mortgages` from Prime to Prime-0.75. I was 9 months into a 5 year term and it cost me about $2550 for about $360000 in loans with a reset 5 year period. Based on a simple calculation, the payback seemed...

QUOTE (MonteDobson @ Sep 10 2010, 12:53 PM) Hi Jess, Quick question regarding financing your 4-plex. We are looking at a bank of 3x4-plexes in a row. Did it fall under the residential or commercial sandbox? Did you put 20% down? What was your purchase price and approx gross rents? Thanks, Hi...