Why not a home equity loan instead of a mortgage.

In addition to responding promptly, even if it is only to say you received the message, a landlord should keep detailed records of all dates and times of both tenant calls and landlords response. It is very common in Ontario for tenants to apply to the LTB for rent rebates when there are...

It should be noted that in Ontario a landlord does not have the right to insist on post dated checks, The tenant decides. Also it is not the obligation of the landlord to pick up rent checks. It is the legal responsibility of the tenant to insure the landlord receives the rent payment on time...

When rejecting applicants you should never tell them why they are not accepted. Giving reasons will only illicit discussion. You simply state that their application has not been accepted. When they press for details state your policy is not to provide details.

I would advise starting in the business that you manage your property yourself. Until you fully understand the business you will not be able to manage a PM.

I personally do not see any way to structure this deal to work for a future investor unless they can purchase it at a ARV under $180000 or the rents could be raised considerably. With possible rents at a max of $1500 for the area the rent to purchase ratio is way out of whack. As a investor I...

I personally do not work to help others, I work solely to help myself financially. If others benefit from my efforts, and many do, all the power to them. In my opinion no one works for free, whether it be for money or personal gratification it is still only for their own personal gain. The...

As a buyer you have the option to ask for any conditions you want as part of the purchase offer. Vacant occupancy is often a condition of offer in Ontario primarily because of the pro tenant RTA rent controls (max 2.5% annually). The reality is that the value of a rental property is based on the...

Target neighbourhood is highly dependant on how much money/financing you have or can qualify for. There is very little point in trying to decide where to buy until you know exactly how much you can afford. In addition the selection of neighbourhood depends on your choice of property type...

Historically variable has paid dividends. Ask yourself why are banks offering fixed at 3% or less. Likely due to the fact that they do not expect variable to rise above that point during the term.

I have no opinion either way on the softener itself however in Ontario anything that is included with the rent must be maintained by the landlord or the tenant "could" be awarded a rent reduction. This would include air conditioners, washers, dryers, pools, freezers, and possibly water...

That is unfortunate. If there is no way to divide off the living space during removal it looks like you don't have many options. Probably your best option will be a motel with weekly rates. It's not perfect but if your tenants do not have friends or relatives to stay with a motel may be your...

Asbestos is not a health issue in homes unless it is disturbed, such as during renovation work, so why not simply leave it alone until you are between tenants. Have you been ordered by the ministry of health to remove it for some reason ?

How extensive is the reno work that you intend to do. Generally home owners live around the work if it is only for a couple of weeks. I would either offer a rent rebate to compensate for the inconvenience or put them up in a motel that offers weekly rates.

Condo fees usually increase dramatically within a couple of years of construction and the ratio of rent to purchase price generally results in negative cash flow.

In my mind the primary factor to consider is "what rent can I expect to receive" when the project is completed. Dollar for dollar the best return is likely maintaining or renovating a pre existing building rather than building new. Return on investment should be a investors primary concern if...

I am in a similar situation as you. I manage my own property and do house renos to flip as well. I retired 3 years ago from my full time job and at that time needed to make a decision on a vehicle to best serve my purposes. Considered a pickup truck as I would be hauling plenty of material...

I can share info but it is no different that any other real estate vehicle in that you research the topic to death then move forward when you are comfortable. Check out the forum I posted above, read every post and all the articles. By the time you are done you will know it all except the...

If a REIN member buys it they deserve to be striped of there membership.

I think many fall for the hype that paying down the mortgage over 30 years is the real reward for being a investor. Some will even justify and willingly accept negative cash flow to that end. To each their own I suppose.