Unclear what your definition of a wholesaler is. To me it is someone that buys in bulk, usually fast and in cash, and then turns around and resells it for a slight lift. Those exist mainly in the US, and then mainly in TV infomercials. Why you may ask? Wholesalers buy new product in bulk or...

Offers & listing usually by email signatures. Only land transfer doc needs to be notarized AND a original ! Thomas Germs on elevator buttons and on public transit: so overrated. Consider Canada’s Wine Capital to live or invest in www.riversidetownhomes.ca

REI.un yields 9% plus 20-30% upside in stock price. Far less work too. Thomas Germs on elevator buttons and on public transit: so overrated. Consider Canada’s Wine Capital to live or invest in www.riversidetownhomes.ca

PM needs to send an eviction notice. Tenant can fight it by proving a medical prescription. I doubt that smoking is required by a doctor but it is possible (you can also take Canabis in pill form or as a drink). Tenant can be evicted for it under the current lease. PM needs to enforce it. They...

At year end you tally rent and all expenses (remember, interest is not expense but not principal reduction). So yes you may have a profit or higher taxable income than the year before. Congrats. Celebrate having not only survived but thrived in a brutal virus year by going to Hawaii (or...

Right now THE worst time to sell. Wait for Covid fog to lift. Sent from my iPhone using myREINspace

It’s a new world. Cash is King. A tenant with a job is queen. Why not advertise “2 month free rent” to get some traction but the free months are month 6 and month 12 but only if the other 5 each are paid on time ? Sent from my iPhone using myREINspace

You can’t predictably hedge currencies. If you live in two places with two currencies have businesses in both. Sent from my iPhone using myREINspace

Why not. When allowed again by the current communist style governments. Maybe I get an orange pass which allows foreign three day visits as opposed to red one which doesn’t. We shall see. Europe trip was planned for May. Maybe fall now .. or 2021 ., or never as burning fossil fuels on planes...

Take the cash AND as high a CMHC mortgage as you can assuming A) rent is stable B) asset carries debt by a decent margin C) cash is invested conservatively ie not at risk as you may need it D) you plan to hold at least ten years E) you buy me dinner somewhere nice (SW France ok) Enjoy !! Btw...

Some markets like maritimes flat and stable. As such a sub 2% mortgage on a fully rented flat 6% CAP rate asset is THE formula for a rich life and tremendous wealth creation. Tres bien Monsieur TangoWhiskey !! Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor...

Yes the next 2 payments or so would be applied to interest and then the regular mortgage continues. So really an interest accrual. Banks don’t lose a nickel. Credit unions (We have four mortgages with three credit unions) very easy to deal with. CIBC and TD a royal pain with long telephone...

6 months often only for personal residence not rental properties. Situation very fluid right now due to CoronaVirus. Sent from my iPhone using myREINspace

Congrats. Worked with Sharon Roberts and Lindsay Miller at Field. Very competent folks. Sent from my iPhone using myREINspace

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Don’t major in minors. Deduct what is actual AND reasonable. If in doubt, deduct it, being mindful CRA can audit you ( but usually doesn’t ). Don’t expense too much if show a loss except perhaps in year one with heavy acquisition expenses and upgrades. Use reasonable estimates for land vs...

Fixed leases automatically end indeed in Alberta but you should chat with tenant to confirm as you or they may prefer month to month or another fixed term. Or you may wish to continue with them but at a higher rate. Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father...

You can raise rents by any amount in AB with three month notice. So give that in January for May 1. If you want them all out give a very high increase. Check out tenant if they have a new room mate. Might be ok. Sent from my iPhone using myREINspace

Sublease at YOUR discretion not theirs. Subleasing without your approval is a breach of the lease. Sent from my iPhone using myREINspace

If you can find them after they leave. Some tenants just disappear. How do you know their next address if they don’t give it to you? Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor www.prestprop.com