What is your concern about access to your furnace? I think if you have the right tenants this should not be an issue. If it was me I would not lock it up.

I always state in my leases that the tenant is responsible for their guests. As well as any damaged caused by them.

I think the question that should be asked is are you willing to possibly lose a brother over this? As Cory has said no matter how good the intention is over time things change and sometimes it's easier for family to think you are benefiting from them and it gets all misconstrued. I still think...

I think you need to do some homework. You need to find out by doing some checking what other properties in that area are selling for and what kind of rents in that area are being charged. Your question is kind of a broad question as different areas bring different prices as well as other...

I agree with Cory that this is not a good idea. But as you said you will do it anyways. I would strongly suggest to put it in writing on everything you agree on so there is no misunderstanding. Remember " if it's good enough to say it and agree on it then it is good enough to put it in writing"

I would talk to them about your mortgage coming due and if they still won't then I would go to another bank and see if another bank would do it. A bank is just another store and they all have different ways to make mortgages work. You just have to ask. Good luck

I think your broker just told you that because you called them out on it. I don't believe that any broker should take on business and treat it as less important than some other deal. Doesn't make business sense to me. Just my thoughts

Start with a condo, single family home or something that you can afford and makes financial sense. Don't rush into multi family if you don't have the money or the experience yet. Start with a single family home and when you build up some equity and experience then a move into multi family. Just...

Boilers are quite pricey to replace. I would get it inspected before buying. Also if the insurance company reacted the way you said I would be concerned that they may not insure you down the road without replacing the wiring. I would get a quote

Sounds like these tenants are just looking for some sort of pay out . I agree with kfort, tell them to clean there toilet. Also I would get better tenants and get rid of the headaches

I also do etransfers with as many tenants as I possibly can. I find it saves me so much time and I don't have to try to meet up get money and I don't have to worrie about cheques possibly bouncing and having to go get a hold my tenants for payment again. Also it's cash . Guaranteed money and I...

I find that a good deal now days is 6% cap . But as Thomas said , it is an equity play.

Like Corey said, Kelowna is very diligent in enforcing non conforming suites. My Aunt had a place and they made her get rid of the tenant and pay a fine. Not to mention she had to pay to get the tenants to move. Avoid it !

I have never seen a government remove rent controls once they are put in. I also have never seen an NDP government do anything that was food for the people that work for it. They just give to social systems and expect the hard working people to pay for there stupidity . End of rant

Thanks Thomas and Rickson9 . I am in the process right now on a 25 unit building and I got a quote from a lawyer and he is doing it for $5000.00 for representing me and of course I have to pay for the banks lawyer. So I am thinking I am going to be around$8000.00.

Hi all Rein members; I am dealing on a 25 unit apartment building right now and was wondering what is a reasonable fee to pay for a lawyer to do this transaction? This is in B.C. I know this is a vague question but I am wondering what others have paid to there lawyers to transact a deal of sorts

One thing that I think you are missing is. It's all your money whether you re finance or you use money you have. I agree with Thomas, buy more than one property. I think money sitting in the bank is doing nothing for you. Just my thoughts

Bi weekly payments cut down on the time for you to pay off the mortgage. It saves a lot over the life of the mortgage. It is a good thing in my opinion, but others may not agree. I think paying down your mortgage quicker gives you more equity for other purchases that may come along.

I agree with Sherilynn, I would not do the deal without having the tenant having skin in the game. You have too much to lose and he has nothing if you allow him to get in with no money down. I strongly believe that when people have money in a deal it is less likely that they will fail. If they...

I would go variable because I don't believe rates are going up . I think we will still see lower rates. Not much lower but lower .