Recent content by spike9294

Is there any REIN members in the Quinte area that might be interested in getting together on a regular basis to talk investment strategies. MIke

The amount would be added directly to my mortgage, and is not a LOC. The HELOC would only give me 25% of what I could get with the add on to the mortgage with a small fee of about $400.00 for legal and appraisal. Mike

Hello, My current mortgage on my home is with RBC. They offer a mortgage add on up to 95% of the appraised value. If I took this option, I would generate enough money for down payments on 3-4 properties, and it would add about $100.00 more a month to my mortgage payment. I have two cash flow...

QUOTE (spike9294 @ Nov 27 2008, 12:17 PM) Hello, I purchased a home in June 08 that I ripped down and I am in the process of rebuilding a new home. I have been approached by an individual who would like to rent to own. He suggested he would purchase the property in 3-5 years. I have very...

Hello, I purchased a home in June 08 that I ripped down and I am in the process of rebuilding a new home. I have been approached by an individual who would like to rent to own. He suggested he would purchase the property in 3-5 years. I have very little knowledge of this process, any advise...

QUOTE (JesseLee @ Jun 15 2008, 09:22 AM) You will find that its very difficult to get a mortgage for a purchase of $139,000. A lot lenders require max 65% LTV and the borrowing amount is min. $100,000. For for your case you`re unable to meet both. I have a similar purchase and I have to use my...

Hello, I am looking at a commercial investment, a 15 unit storage building. It is 3 years old, listed at $139,000 and gross is $1335.00 a month. Building is fully occupied with a waiting list. I have purchased residential, but never commercial and would like any advice I could get. Any...

QUOTE (coinebro @ Jun 3 2008, 09:21 PM) Footing and foundations can cost a lot of money to fix, depending on the problem. Where I live a high efficiency furnace is 5000.00+ and a small roof tear off and redo is easily over $ 5000.00. I would agree with a much lower offer, probably $60,000.00...

Hello, I put an offer in on a house rescently that was accepted for $90,500 with the condition of financing, home inspecton, and approval of renovation permits. Financing and permits were approved, but after the home inspection was complete, we found major issues with the footings...

QUOTE (holymoly @ May 7 2008, 09:38 PM) Hi everyone, This is my first question on the forum. I`ve already learned so much from reading your posts, and from Don`s books! I hope this isn`t a stupid question, but how do you estimate insurance costs for an investment property? I`m trying to buy a...