I wonder if the fundamentals are similar to the star that I own... lol

My suggestion would be to pay down the mortgage, and then convert the equity by increasing the LOC limit. Like Ed said, it converts the bad debt to good.

Where is your property located? I can only comment on Alberta, but understand the rules are different in BC and Ontario.

Get out of the deal, get your deposit back, and consider the money you have spent as experience. If the deal is this bad, it is not worth pursuing.

Good post Mark, that is definately an article written without studying the market or having a clear path for real estate investing.

I have not looked to Eagle Ridge at all yet. Waiting for some more houses to be built so less mud and construction traffic. I am unsure about the rules to renting. How are the rules stated? Restrictive covenant, buyer`s intention affidavit?

Great predictions Thomas.

Back when I was in college and renting, I had 4 roommates in a house that we were renting. There was a time when 1 roommate moved out (too much partying, too little studying) and the remaining 4 of us fully expected to assume his portion of the rent and security deposit until such a time that a...

I like "c)", very creative idea.

Thanks Fay, I havent spoken to my lawyer yet about this yet. This is the first time they have done it on a half dozen deals. That is a great idea Kevin. Another thought I had was having mail in my name forwarded from the rental property to my principal residence for 2 months.

Quickstart is cheap. What is a couple thousand dollar investment comparted to the knowledge, systems and support you will receive?

lol Sure thing Grant. Sent you a PM on this. You sure are fast.

For the past year or so when I have been refinancing a property or buying a new one, the mortgage company sends all the paperwork to the rental property address, not my principal residence. There has been full disclosure and they are aware that the subject property is a rental, however once the...

Great story! Thank you for sharing.

Thanks for the link Don!

It is very unfortunate to have lost their leg to cancer. Cancer is a horrible disease that affects my family to this day. My mother-in-law is dying from cancer and only has a few months to live. However she is still taking responsibility for her financial obligations. Is there another option...

It seems like you are stuck between a rock and a hard place. Is this tenant merely trying to get out of lease by having you evict him? Or is he trying to take advantage of a program meant to help those in need? If I were in your situation, I would not evict until you are within a legal...

I am only speaking to Ablerta, however it would be grounds for eviction if part of the lease.

I would post in the Member`s Only discussion.

Kevin, Another idea for re-use is colouring paper. All the paper that is not confidential or sensitive is placed in a box for my kids to colour and to use as scrap paper.