I think we all feel the effects of a very slow economy here in Alberta. Everything is just a bit tougher, filling your places with good tenants, maintaining the rent levels, increasing interest rates etc. And in a market with lots of rental inventory, your basement suites especially are a little...

Just curious, was this on a rental prop? What type of rental? And also with which financial institution and was it a 5 yr variable closed? Pretty good though.

In any case, from a cashflow and appreciation perspective it’s a great buy. Out west you won’t find anything like it. Congrats!

Happy to hear! As said you need deep pockets to sit it out. You made the right decision. Funny enough I do think the mall will eventually be a decent success but for now it’s the individual condo investors that will be on the hook. The mall has been build with their investment dollars and all...

I can definitely appreciate the fact that you are sticking to the original post and are trying to answer to the best of your ability. Your are probably right about your feelings about the initial posts’ tone becoming a bit more anti realtor. It seems that way. However, reading though all the...

We don’t have the complete picture of what one is trying to accomplish, but I assume the kids don’t have an income on their own (yet) Only thing I can think of is for mom (and dad) to hold on to the condo themselves and just rent it to the kids maybe? Once the kids can qualify on their own they...

I would agree on the above. So she has 100K on top of her third? She is almost at 50% DP then. Would think she should be able to get that financed one way or the other without any complicated constructions. Pay of your sisters and live happily ever after.

The missing piece is what the daughter who wants to purchase would qualify for. She doesn’t qualify for anything? Or maybe not the total of appr $466K. If she would qualify for let’s say 300K then maybe the sisters can each arrange to loan her $83K. All depends on the willingness to help out...

I would start with your bottom remark about being listed for 1 month and no interest. Why is that ? The lower mainland has an accute shortage in rentals. Could it be that the property needs work inside and out? How is it advertised? Just on PM company website? Maybe it needs more exposure? are...

On top of the one month rent they had to pay you, did you also keep the security deposit?

I’m happy for you it worked out without to much (financial) strain. You did the right thing by hiring a professional. Any loss you had you will get over and lessons learned for next time! Move on and best of luck with any new tenants you may consider.

I believe you right away. Good businesspeople have a nose for when to buy and when to sell or to sit back and wait.

Thank you for saying and confirming about markets being overbuilt. And what it actually does for apartment building investors such as your self. How do you compete with large corporations that build 72 to 144 unit ultra modern complexes with all modern conveniences. From insuite washer and dryer...

Amen once again.

Amen!

Aha, that makes sense then. You tried SFH, even suited and the return was not what you expected. That can happen. It's a learning curve to invest in RE, don’t give up to soon. Stick with it Beating the indexes is maybe only for the smart investers out there then.

Matt, the disconnect between you, me and the large majority of investors on this forum is that we invest our OWN hard earned money and put it to work in markets that we know can earn us a return. And a damn good one if you ask me. You, on the other hand, are investing others peoples money...

I can go along with most of this. Looking at expected average returns mentioned, this is how it is for any investment, for example investing in a business, what location, sq footage, what market, paying a higher location price in order to have great exposure and to be close or in the market you...

Congrats! Having a good net worth is very helpful. I’m sure you will get lots of good advice (and possibly some bad) but assuming you also have a working income you would not need to take out a heloc to purchase a primary residence. You should be able to qualify for a conventional mtg, and you...

That’s where I would start to. Just give him a written notice that his lease won’t be renewed and he will have to vacate (by noon) on the 31 st of July. That’s all that you have to do. I would be prepared tho in case he is indeed is going to stay. If not vacated on July 31 he now needs to be...