QUOTE (Peter @ Oct 23 2007, 02:06 PM) Another option to consider is to convert that LOC into a mortgage, where it would be amoritized, and that way you would be be making principal reductions. Could you explain this? A LOC has P&I payments, as long as you pay more than the interest costs every...

Googling "Grande Prairie" duplex rent manitoba I found this site in a duplex advertised for $2K / month back in April. Maybe they can help - http://www.myinvestinginrealestate.com/

QUOTE (DonCampbell @ Oct 19 2007, 10:43 AM) I limit mine to 2 at the absolute max if they are small. 1 if large. You have to consider who is living beside and below them for sound and often two dogs together get `fired-up` more often than just one and cause more noise and possible wear & tear...

QUOTE (RobMacdonaldCMT @ Oct 18 2007, 12:46 PM) Assuming you have a first mortgage on your principal residence, this mortgage portion would not be tax deductible. If you divert the cash flow you would have contributed to an RSP, into a prepayment against your principal residenc, you can free up...

QUOTE (MOPBRealty @ Oct 18 2007, 02:50 AM) I`m self-employed so I won`t be able to make RRSP contributions anymore (no "income"). If you`re paying income taxes, you`ve got income and can do RRSP contributions. I`ve been self-employed since 1986 and have a decent RRSP fund.

QUOTE (grhutchings @ Oct 16 2007, 08:44 PM) There really is no need to be so worried about these mortgages if the tenants coming in are going to carry it for you anyways. Enjoy the cash flow, let the renters pay your mortgage and use your own money to get into as many fundamentally sound...

QUOTE (kisaglasier @ Oct 12 2007, 01:57 PM) Can I charge them for the advertising costs and extra cost to me to find new tenants? Another question to toss into the mix is goodwill and reputation in the marketplace. Regardless of whether you`re in the right to try and recover those costs, you...

What has your accountant / tax lawyer suggested?

QUOTE (housingrental @ Oct 11 2007, 08:26 PM) Does anyone else here have any involvement in Waterloo? I live in Kitchener, but haven`t made a move in real estate yet as I`m still working on figuring out which direction I want to go.

QUOTE (roadortrail @ Oct 11 2007, 01:57 PM) My strategy has been to pay down my personal mortgage as much as possible and use a HELOC to finance rentals (or any investment). This effectively makes your personal mortgage interest tax deductible. Not to mention that every dollar you pay in...

QUOTE (BMironov @ Oct 1 2007, 09:59 AM) It is interesting to see how reality shows on HGTV starting to adjust to real estate market conditions. Some of the shows "do not deliver what they tried" (fix the house and unable to sell). Plus, it seems that new crop of shows about how to use your...

QUOTE (billkeay @ Sep 30 2007, 01:09 AM) Recently there has been a lot of construction on the South side of Hwy 5 along #6. Also, the route is being used more and more these days and the bottlenecks back up traffic more and more. I wouldn`t want to live on a major highway and I would suggest...

I live in Ontario and I drive the section of Hwy 6 between the 401 and 403 every day, and have seen a surprising number of "for sale" signs along the road, as well as some decent sized commerical buildings have also been vacated by their tenants and are for sale / lease as well. I was curious...

QUOTE (marcp @ Sep 22 2007, 12:07 AM) He looked at me, dead serious, and said: "Inheritance!" LOL! Did you tell him that only works if someone leaves it to him?

QUOTE (hshadlock @ Sep 20 2007, 09:14 PM) I have heard of that before also. But I could never figure out one thing. If you get a "certified cheque" then how does it bounce? I think the usual scenarios is if it`s a fake. Alternatively cert checks only mean the funds were there when the check was...

QUOTE (peacock @ Sep 11 2007, 09:06 AM) I am currently in a situation where I want to purchase a property privately and the vendor has offered to give me cash back on the deal. Basically I will pay him $20,000 more on the mortage and he will give that cash back. This is a common scam - for...

I established a consulting business in 1986 as a sole proprietor, then turned "Inc" when the business`s cash flow exceeded my salary requirements. I`m not an accounting / legal professional - this is just my experience. Some observations I can make from that experience is: incorporating helps...

QUOTE (jason @ Aug 31 2007, 04:19 AM) As well I usually use this for quick image hosting: http://allyoucanupload.webshots.com/ If you don't mind paying a few $ for image hosting, SmugMug's a good service. The plan I use costs $39.95 US per year for a standard account, has no storage or...

QUOTE (RichCambridge @ Sep 4 2007, 12:07 AM) Can anyone recommend a plumber in the Kitchener/Waterloo area? The only plumber I saw in the resource directory is in Oshawa. Thanks in advance. Conestoga Mechanical`s worth checking out. I`ve used them, as has a number of other local organizations I...