Recent content by cmontminy

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    Can I buy land with my corporation and lease it to myself

    I have a corporation (sole proprietorship) and I have some money in it that I would like to use to buy land. In a few years I would like to lease that land to myself and build a personal house on it. So can I lease land from my corporation? Is it something that can be done? Would you...
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    Move-In and Move-Out Inspection Reports

    Lesson learned. Expensive lesson but now at least I know the importance good screening.
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    Move-In and Move-Out Inspection Reports

    Good Day I made a rookie mistake. When I rented my house in 2009 I didn't complete a move-in inspection report with the tenant. Now 2 years later I ended with a soiled, unusable, damaged house that has more damages than what the security deposit covers. After googling for some answers on...
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    Fort Mcmurray Condo

    It is a newer 640 sq.ft. 1 bedroom condo built in 2009 in the development called Eagle Ridge . I set the rent at 1800$ after looking at comparables on kijiji in 2010 when I decided to move to Edmonton and rent the unit. I never thought about selling it until my tenant offered to buy from me...
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    Fort Mcmurray Condo

    I own a condo in Fort Mcmurray currently rented at 1800$ month with the lease ending in April 2013 Mortgage Payments are 772$ / biweekly including property taxes Condo Fees 267$/month So my rent basically covers my expenses but does not generate cash flow. My tenant is offering me to...
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    corporation renting to another corporation

    Can I form two different corporations. One that owns a house and one that do oilfield work. Then have the oilfield corporation renting from my other corporation owning the house. I own a house in Cold Lake which is currently rented to a family as I now live in Edmonton. I have been offer...
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    Sources of money for down payment

    Does it make sense to withdrawal money from RRSP to use as a down payment? This withdrawal would not be under the Home's Buyer's Plan as I already used it to purchase my 1st property. I own two properties right now that are rented out; unfortunately with no cash flow and very little...
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    HELOC - Rental property

    Is it possible to use the equity on a rental property to use as a down payment to purchase another property? What are the regulations on this?
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    Financing my tenants

    Is it possible for the owner of a house to finance its tenants so they can purchase the house? If my tenanats do not have the 5% down payment required. Can I lend them the money ?
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    Kijiji Ad

    I just thought it was weird for someone to want to know the actual unit #, what would he get from knowing it?
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    Kijiji Ad

    I posted a condo for sale ad on kijiji and here is one the answer I got back. From: xxxx@hotmail.com Hi, I'm wondering which building and which unit is this? Thank you. Chris would you answer such an inquiry?
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    Raising Capital, OPM

    We are four individuals and we are thinking of incorporating a company to invest in real estate mainly with multi-family buildings. One of us went to the lawyer and ask him how to go about incorporating and told him that we will be raising capital for some deals with OPM (other`s people money)...
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    What would you do?

    Purchase single family house in 2007 paid 260,000$ Put 30,000$ in renovation in it in 2008 In 2009 I moved to Fort Mcmurray and since I was not able to sell my house I decided to rent it. (1200$) Mortgage payment are 1600$ a month and mortgage renewal is in 2012. Would you keep the house rented...
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    Damage to property exceeding security deposit

    Thanks everyone for your inputs. In the future I will think twice before I allow tenants with pets.
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    Damage to property exceeding security deposit

    QUOTE (Sherilynn @ Apr 16 2010, 09:31 AM) Depends on where the property is located. (If you want a more specific answer, you must ask a more specific question.) If the tenant is reasonable and responsible, you may be able to speak with the tenant and work something out. I was able to do this...
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