Hi there, I too think that purchasing a small multi-family property is a great first investment AND primary residence. In Edmonton, in decent areas, you`ll pay a hefty price for anything legal and with entirely different entrances (i.e. side X side duplex, 4-plex). There are some deals on...

Good post...interesting data. Thanks, Lucas QUOTE (Rickson9 @ Oct 3 2010, 02:57 PM) Similar data should be culled from various locations in the Canadian market. I think it would be interesting to discuss. Speaking for myself, I find it hard to believe that information asymmetry doesn`t exist...

I Love this post...very wise indeed! QUOTE (ThomasBeyer @ Sep 23 2010, 08:41 PM) Grow your knowledge .. invest in the most important piece of real estate, namely the real estate between your ears ! Grow your ASSETs. Grow your network. Seek more .. read more .. listen more ...

I respectfully disagree with both Brett and Dan... Just as a seller would consult a Realtor when looking to sell their home conventionally (and pay a commission!!), its wise to do the same if you are considering selling a property via Lease-to-Own. Although it isn`t terribly complicated, there...

QUOTE (dcbennett @ Aug 10 2010, 07:41 PM) Thanks Lucas! Hey, do you specialize mainly in a particular area of the city? Hi again, I have worked in all quadrants of the city, including the "metro-cities" (ie. Spruce Grove, St. Albert, Sherwood Park). The bulk of my work has been in the NE and...

Hello, Jason Scott of Urban Mortgage... He is a REIN member, Mortgage Broker and Investor and has alot of experience with investors and the REIN investment system. He goes under the tag `mortgageman` on this forum. His direct cell is 780.720.2490. Tell him Lucas sent you... Lucas P.S. As...

Good post...Thanks Dan!! Lucas QUOTE (Dan_Eisenhauer @ Jul 18 2010, 10:45 AM) Rather than get into the argument about whether your decision was racist or not, simply stick to your line that you are choosing another applicant. You do not need to, and should not under any circumstances...

Consider class A voting shares for control and class B non-voting shares for dividends for partners, spouse, kids, family members to get money out of a corporation. This looks interesting. I am in partnership with another person in this company and they are NOT apart of operations. They are...

Thank you very much Thomas!! I will definitely send over some questions... Lucas QUOTE (ThomasBeyer @ May 21 2010, 09:13 PM) a "writeoff" is an expense. Some expense you have anyway, say an office (or home office) or a car or a computer. You can deduct what is reasonable and actual...

Hi REIN,We are starting an Lease-to-own/We Buy Houses/Holdings company. We plan on holding properties for up to 5 years. We also plan on doing "flips". We are just about to launch and anticipate alot of activity from the beginning...thus its important to us to set things up properly to begin...

A couple questions that I would ask... 1. Who pays for the maintenance of the property (ie. fridge craps out or floor gets badly damaged)? Who would pay to insure the property? I would get a better idea of the actual costs associated with the unit, otherwise this could haunt the transaction at...

QUOTE (markl @ May 7 2010, 10:28 AM) And thank you once again for the exchange of ideas. I love reading Thomas`s and Godfried`s posts as I am always able to learn something from them. Regards, I second this...Thanks Thomas and Godfried for your informative posts!! Lucas

Hey Barry and Donna, I just signed up and I am looking forward to it!! I am just starting a new business that will be integrating "creative" investment startegies and I wouldn`t consider moving forward without this course. See you there!! Lucas QUOTE (BarryMcGuire @ Mar 31 2010, 12:38 PM)...

I definitely would want a handle on what NEEDS to be repaired before you try to re-sell. If the cost of the repairs + cost of the property > the FMV of the home after reno`s you will be stuck with a niche property in a small market. If the property will resell at 200k, you have very little room...

Hi Carrie, I would contact a local Realtor to pull recent solds of comparable properties asap. In my experience an appraisal means very little when establishing fair market value (FMV). If you can get quick access, bring your contractor through the place and see what their thoughts are on...

Condo`s can be good for those that have a tough time setting aside dough for maintenance and preventative maintenance...assuming that the condo board is responsible and the fees are in line with the size and maintenance schedule of the building, condo fees are a convenient way of taking care of...

Hi sbin, The answer depends on how long you plan on living in the property. As a rental property, taking into consideration the numbers you presented, it will NOT work as a rental property. However, you may plan on living in the unit for 5 + years...If so, then in this time, your mortgage...

Hi Larysa, Hmmmm...sounds a little suspicious...My guess is that the numbers were bad and they don't want you and the bank to know that they are asking too much. Did you recieve the last years numbers...If so, how do they look? They should be able to get something from their accountant...

Sagging has less to do with framimng and more to do with foundation (or lack thereof...). I would not move forward with this purchase given your numbers. Good Luck! Lucas QUOTE (surfermoe @ Mar 12 2010, 02:00 PM) Hi folks, My wife and I have had our conditional offer accepted on a...

Thanks Jim...Great post!! Lucas