I`d definitely have to agree with Thomas. Keep your eye on the cash flow and move excess cash to the Emergency Fund. The money in the bank will be important for several reasons including a run of bad tenants, emergency repairs or even in a mortgage application if the bank was wondering where...

Eric, As that bottom drawer gets too full, here`s what I`ve done. For each property where there isn`t enough space in the drawer, take and create a new empty folder and label it with the address PLUS the words OVERFLOW. In this file, make a table right inside the cover with a complete list of...

Godfried I too have been both interested in going plus had the MMI Weekend recommended to me by some highly respected friends. I believe that they got a lot out of the program without buying anything besides the original book. They also highly recommended doing the weekend with you spouse as...

Way to look around the wall Mike. Let`s see if a lawyer can chime in on this topic. Their legal opinion may just open a few doors for us. -Grant

Hi Jana, I`ve researched this before and here`s the black and white answer. NO. It comes from the Real Estate Council of Alberta as they are the licensing and managing organization of realtors, brokers, appraisers and managers in our province. From their website (www.reca.ca), here is a...

Hi. My wife and another couple are headed over to London for a 7 day vacation at Easter. Besides taking in all the sights and sounds of this beautiful city, I have been thinking about taking advanatage of the opportunity and trying to drum up some JV money through a presentation or some high...

What city are they looking to rent in? -Grant

There is a big discrepancy between an `Addict` and `checking a few times per month.` I guess checking a few times per day puts me at the top. On a related note, I`ve had reports that Facebook is nearing the top of the S-curve in terms of growth. Be on the lookout for the `next big thing` in...

I use the number `3` as a magic decision maker. Properties you plan to buy: Less than 3, you should be able to do it just based on Quickstart. 3 or more, REIN is worth every penny even if you just get the monthly CD and mailouts. Number of meetings to attend: I live in Lethbridge so I am...

Hi Wendy. Although I`m way out west, I use an online company called VistaPrint. (www.vistaprint.ca) Here you can get everything from free cards to custom designed ones at really cheap prices. In fact, I use two cards. One for tenants and one for investors. This then removes me as the...

Mike`s got it right. I like to have my lawyer close, my accountant ideally close and the mortgage broker can be remote.

Looks like you made a great choice. Best of luck in the future with this an many more properties. -Grant QUOTE (sprete @ Dec 17 2007, 07:41 PM) Thanks to everyone for the valued input. For those interested in an update... we decided to play within the rule books. We removed the kitchens...

Take out the oven, install a hot plate surface and provide a toaster oven. Then rent it out at a rate per room rather than as a suite. You can still rent it to the same profile of people, just have a contract that is by the room. A little gray-area treading but a pretty good option to cover...

Yeash...I break #2 all the time and #4 on an annual occasion. -Grant