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  1. invst4profit

    Pot smoking and playing music loud neighbours

    Your only recourse in Ontario is to call the police on each incident.
  2. invst4profit

    Co-signer vs Guarantor in Ontario

    Guarantor is the preferred choice. It will allow you to go directly to Small claims and as you suggest avoiding the board is always preferred in Ontario. Unfortunately you will however still have to go through the process of eviction via the board if they stop paying. In addition you will likely...
  3. invst4profit

    MOLD on main floor walls.

    In homes with forced air heating this can be the result of tenants placing furniture over the heating vents. Blocked vents prevent warm air from heating and circulating the air in bedrooms Check this out during your regular inspections and advise tenants not to block heater vents and to leave...
  4. invst4profit

    Turning personal residence into a rental property

    I would strongly advise you research market rents for your area before you proceed. It is very rare that the rental income on a single family home actually covers the costs. Be prepared to put some of your own money into the property monthly to carry the mortgage, repairs, evictions, vacancies...
  5. invst4profit

    Personal home purchase, stick with home branch, or..branch out?!

    Correct, a Broker possesses more tools than any single bank when it comes to mortgages.
  6. invst4profit

    Personal home purchase, stick with home branch, or..branch out?!

    I echo Thomas on the Mortgage Broker. A good broker is far more valuable to a investor than a bank.
  7. invst4profit

    HOLD or SELL

    It's easy to provide advice with all the details that are available. 1. You are asking if you should sell therefor you appear to want to sell. 2. You are not a social worker and should not care where your tenant lives. 3. If making money is not your number one priority you should not be in...
  8. invst4profit

    Educational Material on Renovation

    The internet has everything you need to know. Just search "how to basement renovations". You also need to contact your local building inspector to find out the code requirements for your area.
  9. invst4profit

    Buying Where You Don`t Live

    I agree there are many ways to manage a property and a property manager but again without having managed yourself even your system of counter checks may likely be foreign to the novice "investor". Managing a first property is easy, takes very little time and should be a prerequisite in this...
  10. invst4profit

    Buying Where You Don`t Live

    I also strongly advise that those starting with their first property purchase reasonably close to home and self manage. Personally I believe, based on the number or bad property manager stories out there, that without the first hand experience of managing your own property you are at the...
  11. invst4profit

    First time at LTB (Ontario) - any tips?

    In dealing with tenant payment issues there is a process that insures landlords get paid and tenants learn the proper process and follow it when paying rent. Tenants should only ever recieve 1 N4 during a tenancy. It should be issued the first time they are late or have a NSF. After that it is...
  12. invst4profit

    Buy an Apartment or House?

    Please reread my earlier posts, Greg. Cash flow is important to hold. Very ! Or shall I say enough of a cushion perhaps, via reserves or cash-flow. But what I am saying is that over a five or ten year period the cash flow is not the bulk of your profits, but mortgage pay down and appreciation...
  13. invst4profit

    First time at LTB (Ontario) - any tips?

    Wow 7 NSFs in a row is 5 too many. Your first board hearing should have followed the second one at the very latest with a L9 application. That would most likely have put an end to your problem. Did you file a L1/N4 or a L1/L9 combination. Hopefully the combination however I would assume only a...
  14. invst4profit

    Buy an Apartment or House?

    We have to remind ourselves that we are often advising novice investor. With that in mind it is important to keep in mind that they need to be able to afford to keep the properties they purchase. When starting out usually the only way they can afford this is with positive cash flow. The name...
  15. invst4profit

    Ottawa waterfront with tenants in place

    If you are looking to walk away with a clear conscience I have the solution to your problem. Based on the rent your Ottawa tenants are paying, as a investment property, it is worth approximately $180,000. Sell it to me for that price and I will grantee to allow your tenants to stay. Otherwise...
  16. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    Sure, I have used this 4 times in the past 2 years with 100% success. I serve them with a No Trespass Notice. This trumps the jurisdiction of the LTB. The first three times I used it they did not challenge. The forth time the tenant took me to the board this January on a different matter...
  17. invst4profit

    How to respond to a subtle hint my tenant may break their fixed tenancy lease before end of the term

    http://www.servicealberta.gov.ab.ca/landlords_tenants.cfm This link will have all the answers to your questions. At this time I would not communicate by email. Send a formal written letter outlining his rights and yours as found in the act and offer to assist him to work out a solution...
  18. invst4profit

    Never, Ever Rent to Anyone You Know.

    There is a landlord on another forum asking if they should rent to a supervisor in their work place. Any body wish to guess where that scenario will end up!!!!!!!!!!!!!! (some landlords are actually suggesting it is a good idea)
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