Recent content by RedlineBrett

  1. RedlineBrett

    NEWS - Calgary Secondary Suites

    On Friday I toured a client's new development: three separately titled row houses each with their own legal one bedroom suite in the basement. So six units. 3 parking stalls on site. standard sized lot, R-CG in Killarney. Great development opportunities out there if you know what to look for
  2. RedlineBrett

    NEWS - Calgary Secondary Suites

    Looks like anyone with an illegal suite can legalize it to fire code standards rather than building code standards, as long as your suite was built before March 12, 2018. This will be in effect for...
  3. RedlineBrett

    Where can i find Estoppel Letter?

    They are ordered from the condominium management company or from the condo corporation directly. In Alberta the seller typically pays for this and provides it to the buyer as part of the closing documents.
  4. RedlineBrett

    Real estate brokerages

    You are probably best with a large, no frills office. You will get no support or training but your costs will be low. If you need training or support consider joining a team of agents where the leader does some investment property. I am not aware of any brokerage that does anything for the...
  5. RedlineBrett

    Leases does not matter anymore according to the RTDRS

    Were your tenants on a fixed term lease or a periodic term? Fixed is just as it sounds, fixed term, start and end date which can only be changed if amended by both parties or through the RTDRS if one side is found to be in breach. A lease must be specifically described as a fixed term lease to...
  6. RedlineBrett

    Rent to Own

    RTOs are fraught with risk and really takes a team of experts to be able to pull off. I only really recommend them when you have a dog that you need to get out of and you can't sell at retail for a deal that's palatable. The trick with them is to stay away from this concept of setting the...
  7. RedlineBrett

    CAP rate and financing CAP rate difference

    Financing CAP rate is not a broadly accepted industry term. It's quite likely the realtor's own spin on the cap rate economics by using 'stabilized' rents. So when you have a building that is rented 'under market' most salespeople will prepare economics based on 'stabilized rents' or what the...
  8. RedlineBrett

    Online Home Staging Course

    Have you looked at the rest of the elements of the home staging business? You need to be able to network with realtors and have a large enough pool of them in your market to develop a sustainable client base plus you need connections to furniture stores from which you can rent, or make the...
  9. RedlineBrett

    young beginner real estate investor looking for advise

    A suited house live up rent down at 5% down is just about the most sensible first step into real estate that a beginner investor can make - great leverage: even in a modestly appreciating market you can 2x your money quite quickly & no capital gains - income support - get used to managing...
  10. RedlineBrett

    Rental suited house with pool:

    If the amenity isn't going to get you enough increased rent to justify the maintenance and administrative expense then yeah it's probably cheaper and simpler to fill it in and not offer it to the tenants.
  11. RedlineBrett

    Foreclosure Process - From the Mortgagee Perspective

    depends a lot on the province you're in as well as how much equity the owner has, as that typically sets the redemption period. If they have decent equity that's 6 months in AB for example, and it will take you an additional 2-3 months to work through the court system get to there. After you...
  12. RedlineBrett

    Rental suited house with pool:

    We managed a property with an indoor pool. Very difficult to get the tenants to service it the right way, so as an owner you would need to plan to arrange for it yourself. With the right schedule to the lease and appropriate insurance you can do it though, so if the deal you're looking at is...
  13. RedlineBrett

    Will you buy a property only cash flow but no appreciation potential?

    I agree with a lot of what you have here save the knock on the suburbs - Calgary was developed as a white collar home owner town. It means we have a very limited supply of purpose built rental stock. Almost all of it is either downtown or in the very old communities close to downtown. Yet the...
  14. RedlineBrett

    Buying Opportunities???

    I will be presenting along these very same lines in Calgary at the next meeting on the 28th. What's working, what isn't and how to get the most out of our market right now.
  15. RedlineBrett

    Grow-ops yay or nay?

    If AHS has been through the property and the order removed then yes it is safe to live in and safe to buy. Make sure you have a financing condition as it's possible the property is flagged with the insurers and that's tough to get around. Butt here is no latent defect anymore, the seller...