QUOTE (ThomasBeyer @ Mar 2 2010, 02:39 PM) not necessarily as the price would be higher ... I would likely pay an extra 10 grand (or more) as an investor for a converted 4-plex.

QUOTE (2ndstory @ Mar 2 2010, 10:47 AM) With no renos, $100 to $125 000. With modest renos $125 to $150 000 With designer renos $145 to $175 000 The risk goes up with each one, but the potential return is there. Nik Good work. Even if you don`t do anything with the conversion, you should...

QUOTE (markl @ Mar 1 2010, 03:05 PM) Hi Mark, I would assume you would consider that $3,600.00 as the initial down payment. CMHC looks at the borrower most of all at the end of the transaction. But if CMHC does pull the plug would you be willing to hold a 2nd mortgage to cover the difference...

QUOTE (BrianPersaud @ Mar 1 2010, 02:30 PM) spoke to someone from CMHC some time ago, says best bet is to keep credit in a trust account. I have had people who specialize in them say they`ve closed without it and used the extra cashflow. It`s a good question. I have been getting RTO...

QUOTE (gwasser @ Mar 1 2010, 10:38 AM) Hi Mark, I think your idea of crediting them retroactively $100 per month rent or a `initial downpayment` of $3600 is generous. But, what if they decide they want the downpayment paid out instead of doing an RTO? You better make sure that this credit is...

QUOTE (MarkTorgerson @ Feb 25 2010, 02:49 PM) Hello I am working on putting together an offer letter for some of my current tenants for the opportunity of rent to own. The tenants are long term tenants and I wanted to somehow reward them for their years of support within the rent to own offer...

QUOTE (ThomasBeyer @ Feb 27 2010, 11:49 AM) it is called a disclosure statement similar to the one used by builders selling pre-sales on condos not yet strata titles / tat do not yet exist with language rigged into your favour to protect yourself ! Only for a substantial discount to market will...

QUOTE (MarkTorgerson @ Feb 26 2010, 10:44 AM) Thanks Mark I am guessing that the issue with my tenants is not one with qualifying, but rather having the down payment. If they had both the down payment and could qualify, I think I would have already lost them. I would without question let them...

QUOTE (jseib @ Feb 26 2010, 09:10 PM) I suspect the main reason more people don`t do RTO with condos is the numbers tend to get mangled after you factor in the condo fee... Because RTO prices are generally already much higher then traditional rent you really can`t deliver value for the client...

QUOTE (2ndstory @ Feb 26 2010, 08:38 PM) I met with my lawyer the other night and he figured that the legal costs, engineer and architect costs, etc. shouldn`t take me over the 10g mark with my four plex. This is not the first one he has done. The others were apartment blocks. In Manitoba the...

QUOTE (ThomasBeyer @ Feb 26 2010, 10:39 AM) yes in theory .. Could you give any insight on how? Could I just write up a RTO on a unit referencing the building and unit number? If the RTO was say for example....2 years, would I then just make sure that I completed the full conversion before...

QUOTE (markl @ Feb 26 2010, 10:00 AM) Sorry Mark busy taking advantage of the last days of CMHC insured rental properties. Although I am hearing of people being turned down already. Great plan and your approaching tenants that have never been late on a payment this will be a great way to sell...

QUOTE (2ndstory @ Feb 25 2010, 09:18 PM) I`ve been mulling over a similar idea with my 4 plex. The fact is, some of the tenants that I have are young couples and I think it may be a great way for them to start to build equity as well as ease a situation where some tenants could get upset about...

QUOTE (MarkTorgerson @ Feb 25 2010, 02:49 PM) Hello I am working on putting together an offer letter for some of my current tenants for the opportunity of rent to own. The tenants are long term tenants and I wanted to somehow reward them for their years of support within the rent to own offer...

QUOTE (ThomasBeyer @ Feb 25 2010, 08:43 PM) Get full conversion done first .. This takes 2-3 months ... then get many small mortgages (one per condo) or partially dischargable large mortgage .. Then worry about selling .. Or, if you are VERY experienced, line up ALL sales/RTO first, then...

Hello I am working on putting together an offer letter for some of my current tenants for the opportunity of rent to own. The tenants are long term tenants and I wanted to somehow reward them for their years of support within the rent to own offer. I would like to put specific numbers into...

QUOTE (ThomasBeyer @ Feb 24 2010, 12:43 PM) We also are experimenting with it .. ran some ads for one of our condo converted buildings .. had some calls but many tirekickers .. IN THEORY: yes a great idea. IN PRACTICE: much harder as the "typical tenant" in a 1BR or 2BR is usually not of...

QUOTE (MarkTorgerson @ Feb 23 2010, 03:24 PM) Hi I have been viewing the rent to own information over the last several months and have been putting together information from a number of sources. Although I do feel the hype was over marketed, I do believe that there still lies good opportunity...

QUOTE (RussellWestcott @ Feb 23 2010, 05:15 PM) Mark there is a great template on the members only critical forms section. With very little modification you can change to fit your needs. Written by a professional copywriter location of file Download section Downloads > Critical Forms > Tenant...

Hi I have been viewing the rent to own information over the last several months and have been putting together information from a number of sources. Although I do feel the hype was over marketed, I do believe that there still lies good opportunity with the right conditions. I have a duplex...