Recent content by ChristinaCatana

  1. ChristinaCatana

    Partnership breakdown of profits from a house flip

    Banks will finance flips if the banks make money. Getting a variable rate mortgage and paying 3 months interest penalty often keeps the mortgage broker and the bank happy. If you already own a home or rentals, then banks will probably analyze the deal as if the flip will be a rental property...
  2. ChristinaCatana

    Low commission Realtors versus traditional

    Some realtors offer a service for a flat-fee that gives an MLS listing and allows sellers to do the work themselves. This can work well for sellers who have some experience with selling houses. But I often see sellers do this and under-sell their homes. Often their marketing is weak and...
  3. ChristinaCatana

    Where to get started?

    Its often wise to start real estate investing by buying a home you'll live in. A home with a 2nd unit you will give extra income and maybe you can keep it as a long term rental when you move in the future. It's easier to get the down payment for a home you live in... - Maybe you can...
  4. ChristinaCatana

    Recommendation for a good insurance?

    HUB Insurance and Park Insurance have insurance specific to rental properties. Both insurers offer benefits to REIN members. Personally, I use HUB and here's the contact info... Dan Tetzlaff, B.A, RIBO Commercial Account Executive HUB International Ontario Limited Office - 905-582-7006...
  5. ChristinaCatana

    Companies Waterproofing Ontario Basements

    I could recommend some Toronto companies. But just call a couple local plumbing companies, they usually do exterior waterproofing or they have an affiliate company that does. Before hiring a waterproofing company I'd have a good idea what the problem is and is not. A company might recommend...
  6. ChristinaCatana

    Buying a bungalow with a basement rental unit

    You'll probably sleep better at night and you'll avoid potential problems if the city is ok with your basement unit. Substantial renovations may be needed to convert an "in law suite" to a legal basement apartment. Does the "in law suite" have fire doors to separate units and common areas...
  7. ChristinaCatana

    Recommendations for a good home inspector for downtown Toronto

    I use Richard Schmid of thecastlegroup.ca (416) 485-3626 He's done thousands of inspections and managed large scale construction projects before he was doing inspections. Rick gives good repair estimates and has insight into the many different ways a problem can be fixed.
  8. ChristinaCatana

    To what extent do you go in a house inspection before buying?

    It's a good idea to inspect the sewer lines on older homes. I do it before renovating a basement. You can get a plumber with a camera to look at it. Some plumbers will camera the drain for $100.
  9. ChristinaCatana

    Hey guys looking for some experienced investors advice

    Can you turn your current principal residence into a profitable income property? Would you (and your family) be ok with changing your current personal residence? Your capital might go further by refinancing your current property, then buying a new personal residence with 5% down. Typically...
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