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    Expenses allowed on a rental

    I think the reason I came across abrasively, is that everyone has assumed I know nothing about accounting or income statements. I know the difference between debits and credits, I know that you can deduct interest and depreciation, and unlike many sophisticated real estate investors, I know how...
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    Expenses allowed on a rental

    QUOTE (housingrental @ Apr 24 2010, 12:44 PM) Gen1GT: You have strangers dedicating time for no possible benefit to themselves to help you. I can understand your frustration with learning a new area and the difficulty in doing this caused by time constraints and stress from your job and...
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    Expenses allowed on a rental

    Thanks for the solid answers, Andy.
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    Expenses allowed on a rental

    QUOTE (jeffjas @ Apr 23 2010, 02:14 PM) Why would you think that this is an inefficient waste of time, if the outcome is that you could save hundreds or thousands of $$$ by increasing your financial intelligence. You can ask all the questions you want, I just provided a response that would...
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    Expenses allowed on a rental

    It`s a steep learning curve, and there is only so much time in the day. Tell you what...why don`t we all lobby to have this forum shut down, because the only way to learn is by attending seminars and reading books. Or, if you have the knowledge to answer a SIMPLE QUESTION, then do it. If...
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    Expenses allowed on a rental

    QUOTE (jeffjas @ Apr 22 2010, 11:08 PM) I`d recommend you take an H&R tax course (pretty cheap) and do some reading so that you can understand and properly analyze an income statement. So instead of just answering the question (which is why this forum exists), you want me to wait a few months...
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    Expenses allowed on a rental

    If your taxable income from the property goes negative for a few years, is it cummulative?
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    Expenses allowed on a rental

    With a rental property, what expenses will the government allow? For instance, let`s say you put in 8% for vacancy allowance, and 10% set aside for repairs. And let`s say you had no repairs for the year, and no vacancies for the year. Will the amount in the bank at the end of the year be...
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    Inside the US Mortgage Meltdown

    QUOTE (gwasser @ Apr 14 2010, 10:14 PM) I doubt you are referring anyone to anyone else anyway. Don`t get so hot under the collar and so self righteous. Now you`ve got another realtor whom you won`t give references. Great! Oh, I did a spell check on this, but you may still have an issue with...
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    To Sell or Not to Sell

    ...and in Canada, we can`t differ the taxes if we use all the capital gain towards another property, like you can in the States, correct?
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    To Sell or Not to Sell

    QUOTE (ThomasBeyer @ Apr 11 2010, 12:38 PM) 44% to 50% on taxable gain ... depending on province .. and the taxable gain, if a long term hold with rental income is 50% .. thus effective tax rate is 22 to 25% on gain after all expenses Thomas, can you explain this more in depth for me? What is...
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    I`m Thinking this Investor is NOT a REIN Member!

    Yeah, that one`s a tight rope ... give homeless folks a warm place to live off the streets, except in sub-standard housing. I hope the court sees he had good intentions (if he did).
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    Inside the US Mortgage Meltdown

    Do Canadian lenders sell their mortgages too? I think the CMHC is one reason we won`t see the same problem the US did. Fewer persons here that shouldn`t be getting astounding mortgages are getting those astounding mortgages.
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    Clarification on new mortgage rules

    What percent down payment is required to bypass the CHMC altogether?
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    Mortgage Rule Changes

    When the rule change happens (for mortgages) on Apr 19th (I think that`s the date), is it going to time out based on purchase agreement date, or by closing date?
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    Easy eviction if family moves in?

    Yeah, my mom is a deadbeat...! Yeah, I live in Ontario. I`d like to buy a place for her, and one of the places I`m looking at already has tenants.
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    Easy eviction if family moves in?

    Is it true that if you buy a rental property and you plan on letting your family live there(my mom in this case), then it is grounds for easy eviction?
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    Seller financing

    What`s AFS?
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    Seller financing

    Great, thanks for the info, guys.
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    Seller financing

    I have a deal that would make a great seller financing transaction. They have already moved, and still own the home. It`s structurally sound, and just needs a lot of elbow grease and asthetic upgrades. I`ve never done a seller financing deal, so I would appreciated some clearification on a few...
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