I think it would be more interesting to know which underwriter accepts MF with affordable premiums instead of shopping at different brokerage. Park Insurance is a broker with insurance policies underwritten by Aviva.

You have 2 more options, 5) room rental (labour intensive in terms of managing but could make it cash flow) 6) IMO the best option.........stay put for another 5 years. From your own options, I would try nr 4 first. Who knows maybe you succeed selling it. Cheers! All the best for 2020

It’s frustrating when that happens no question. Only word of advice I can give is to have all correspondence by email or written form. When a tenant gives notice verbally or even by text I do ask for a written notice and will respond accordingly In written (email) form. I recently had 2 tenants...

You are definitely in a tough spot. But frankly 4 claims in 3 years tells the insurance company something about either you as a landlord or the general condition of your properties. It‘s not any different then car insurance. Last year, thousands of car owners in Alberta were left without the...

In this case weight is not an issue as there are concrete floors under the existing laminate. Yes I hear ya, I actually never cut corners but in this case it’s a very attractive alternative with significant dollar and time savings, and without any negative side effects using the laminate as...

Thank you Michel. Yes I have seen that too. Vinyl on top of vinyl, carpet on top of carpet and so on. I usually start from scratch but with what I want it would make more sense to use the existing laminate as a subfloor. I was actually thinking to use the glue down but with a bit higher...

For all the handyman investors or contractors, has anyone put the vinyl loose lay flooring over top of a smooth laminate floor? Just wondering for a project I’m working on that has laminate floors that show some wear and tear. Removing the laminate will mean to have to install smooth side...

Every asset class comes with its own set of rules regarding down payments etc. Besides that you would really want to educate yourself as to what else is required for asset class other then residential. Residential is generally most straight forward. Downpayment and financing on buildings with...

Sure why not. Depends on how deep your pockets are though.

In general yes 2 years of history, however I moved here in September 1998, and bought a residential property to live in, in June 1999, within the year but needed to put 25% down to make it happen. (In Alberta and with ATB) Had steady employment that first year which helped qualifying. So yes...

$500 cashflow on a 4 plex is not good. It’s terrible. It’s $125.00 per apartment. Aim for $350/$375 cash flow per apartment with the potential of upgrading and improving and boost to over $500 per apartment or wel over $2000.00 cash flow per 4 plex. Now we are talking.

Ok, thank you for your clarification. Seems we are not that far apart then, as the markets named are roughly between 15.000 and 100.000 population. Very close to my 8000 to 100.000 population strategy as per one of my previous posts. If it’s good for you, it’s likely good for many. If small...

Didn’t you buy in Red Deer? Why? What’s in it for you? Nothing for sale in Edmonton or Calgary? If that market is good enough for you why not for others? Seems like Cash flow is a dirty word for some. Believe me......cash flow is a lifeline for ANY business, incl Real Estate. Like in any...

Uhhhhh.......I was watching TdF on Sportsnet from my lazy chair here in Ab....... (:

Cory, I don’t deny there is some thruth to the risk named, but without risk there is no gain at all. As it is often said, it is a 3 course meal, and for me to invest in a prop it needs to tick all the boxes. Yes, to long term buy and hold, yes to appreciation, but a big fat yes to cashflow as...

Sure, that could be satellite cities, however prices in Calgary and Edmonton GA will still make it very tough to (significantly) cashflow. Think more the appr 100.000 population cities in Ab outside those areas, as well as smaller centres with a strong regional function.

I would be able to achieve that with 200K, minimum cashflow 2000 and increase a prop in value. Just not in Calgary or Edmonton. You need to look at markets 8000-100.000 population. And finding that right property that gives you that will take time. But doable.

I so agree on Thomas point C. You really need to understand what comes your way in expenses, as property taxes and insurances are often changing as soon as a building is purchased that has been with the seller for 25-30 years. Utilities are verifiable, however it has been noted before on this...

7 numbers including the decimal point.......right? (:

I can agree on most things said. I think what it comes down to is what your personal situation is like. If I were to be in my twenties, and having a regular daytime job and would do real estate investing on the side, I would purchase premium products, i.e. fully updated rental props, that...