I can go along with some parts of your reply; that is that you should indeed focus on minimizing risk (especially when selecting tenants) and not wasting time and money on collecting small fees such as carpet cleaning amongst others. Not worth it whatsoever, Personally I’m always prepared to...

Exactly my thoughts. 1Million Net worth is not necessarily cash on hand that is invested. If it is, you would have a return of 24% annually. Net Worth encompasses equity in things like real estate, most likely your primary residence, cabin, cars, boats, golfclubs, porcelain coffee mugs etc...

Dave, this is what I have in my contract, Clause: Additional Obligations on Termination, .1 Without limiting the landlord rights available in law or pursuant to this lease, the tenant acknowledges and agrees that, upon any termination of this lease (by the landlord, at the end of the Term or...

Buying a Rental 4 plex is a lot cheaper then building. Also keep in mind the upfront cost as besides buying a lot you would need a construction loan (unless you have lots of cash on hand) so do your homework on whats involved. The only option to make money if you were to build is to build large...

What is the plan? Building units to rent out as a MF building or building separate title units to sell off.

Don‘t know the GTA market well enough to comment on that specific, looking at Alberta, this could be a great year or year to follow, especially when you have long term job perspective, steady income and (some) cash. House prices drop by the day, interest-rates are low, prop taxes have gone down...

Nowadays document printing, signing, scanning and then sending back seems from medieval times. Your real estate agent doesn’t work with DocuSign? All you need is, preferably, a separate email address for each. Tax implications, no, if it’s primary residence. Yes, if it’s not, and are expecting...

Thanks for the video! I work along the same line. No use to run out to do a showing for every request. Knowing who you are going to show your units to and having a good idea wether someone will qualify when completing the application, indeed saves a ton of time. One remark I would want to make...

Sure thing! Hit them up https://www.yellowpages.ca/search/si/1/Insurance+Brokers/Calgary+AB

I appreciate your honesty. What to do......what to do! Since you were asking for advice tho, and gotten some different opinions, please remember that cash take out is financed cash, in other words you are going to pay back your cash over an extended period of time. Does that cash make the books...

Always tough to comment on things without knowing all the details and numbers. But why didn’t you take the 2.5 mill offer? Frankly, trying to piece the numbers together, $20500 monthly revenue and 14K monthly mtg cost, and on top of that prop tax, high insurance (as you say) utilities, vacancy...

Yes I do to, however what the video shows is how easy it is to create fake ID and/or paystubs Since Naborly goes entirely by algorithms I’m wondering how these algorithms pick up on fake documents. The biggest value of course is the third party credit report but other then that I have learned...

I have a similar situation, rented to a young RCMP officer in training who signed a lease starting May 1, however the training centre closed down and graduation will be in June, likely even July. I choose to work with the guy, since I like the tenant profile and it doesn’t bother me if I loose...

Not sure this helps....... You don’t want to show it......You loose rent. You don’t want to loose rent.......You want to show it.

It seems that its exactly like they say it is. It’s a deferral announcement. Not a ‘forgiving payment’ or gifted mortgage payment. And for now it seems it’s only the 6 big banks that made that announcement. What does everyone do themselves? Do you, or are you willing to defer or forgive rent...

Just brace yourself, by the way its not just BC. And it’s not just condo/strata properties. You can expect Insurance rate hikes on owner occupied to rental props, from SFH to MF. https://www.cbc.ca/news/canada/british-columbia/bc-strata-insurance-hike-1.5393035

I would agree that you would manage this to the best of your ability, work with the current tenants and work hard to find new tenants. Yes it’s winter, but in my experience it’s usually not to big of a problem to find tenants. People move year around. About the sublease I think you and your...

It’s true that my response could be perceived as not being helpful, but I feel a bit sorry for you that no one responded to your request for recommendations, I will take some time to elaborate on what I meant with my post and no matter if it’s going to help you, it might be of interest to other...

Is it a mistake though if the market didn’t work in your favour? Seems to me that a house bought for 415K 6 years ago and would fetch 420-430K minus expenses in the current market is a very minimal loss that wouldn’t be to hard to absorb IMO. I would suspect tho, looking at current Calgary and...

TRUE!