Make sure you review your purchase contract very closely. Many builders now restrict you from selling the condo prior to possession and require you to sell it back to them at the purchase price. Keith Uthe, REIA Enrich Mortgage Group

With any consumer proposal company you work with ask them how they get paid or make their money. Money mentors and companies like them are paid by the creditors they are negotiating with. The more you end up paying the more they make. Sent from my SM-G935W8 using myREINspace mobile app

See if Don Rossom can assist you Sent from my GT-N5110 using myREINspace mobile app

Here are some quick key questions to ask yourselves: 1. Do you want to own an investment property in this area? 2. Is it a good rental area? 3. Does it fit and get you closer to your REI and life goals? 4. Could you get a better return on the equity if you sold and re-deployed the capital...

Hi Colin You need to make sure your lawyer does up the paperwork for a proper 2nd mortgage for the buyer to sign at closing. Your lawyer will then register your 2nd mortgage interest on title. Keith Uthe REIA Sent from my GT-N5110 using myREINspace mobile app

Hi Jack It sounds like you have equity in your properties that may be accessible to consolidate your debts into a smaller payment. As a mortgage broker I have successfully assisted people in your situation by being able to negotiate their debts for payout so they may avoid bankruptcy or worse...

Hi Eemaar: There is a lot to consider from your post. There are opportunities to make great cash-flow with legally suited properties in Calgary. Condo's are difficult to get positive cash-flow from once you consider condo fees. I live and invest in Calgary with my wife and am an expert on...

I would contact the BC regulator and see what they say. If you were in the middle of negotiations, a counter offer is still an offer then the selling Realtor has an obligation to tell your Realtor that there is another offer now on the table and it is a multiple offer situation. This way you...

Hi Frank: Collateral mortgages are becoming more common among the big banks as most default to a collateral charge unless you select the standard mortgage charge option on the commitment letter. Collateral mortgages may make sense in theory by saying you have easier access to funds if needed...

Hi Jason: One of the most important things you need to know is that the rates that your are seeing from True North are the lowest rates available based on a high ratio insured mortgage with great credit and know other variables involved. The rates for rental property uninsured mortgages are...

Dear Advantage: It sounds like what you want to do is use the reno to hold method to build your portfolio. This is certainly a viable way to do so and I am the Mortgage Broker you are looking for. I am a certified REIA, Licensed Mortgage Professional, Real Estate Investor Since 2003, work with...

Hi Raymond: There are many ways to set up your flipping business. If you have limited capital to get started then putting that capital into a down payment on your own home may not be the way you want to go. You also have to consider whether you want to live in a home while it is being...

Hi Trish: Glad to hear you want to invest in Alberta. The main reason you would want to attend the ACRE in Alberta would be to meet people in person to build you team, however it is not absolutely necessary. Most of the information will be the same at both ACRE's, however you may find some...

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When you get audited CRA is going to demand that you show where the funds from the rental refinance went. If any of the funds are used for personal purposes the interest from those funds are not eligible for tax deduction.

Hi Matt: One of the most important steps is to know exactly where you stand in being able to qualify or not for a mortgage. Give me call or send me an email and we can take a look at this and verify where you are financially so that you can have a more secure plan moving forward. As a veteran...

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Is the property in Edmonton or Calgary?

Calgary does not have near the same number of legally suited properties Edmonton does and very few of the ones that do exist in Calgary are available for sale. This is one of the reasons that they are in more demand in Calgary now than Edmonton. If developing a new suite does not work for an...

Hi Matt: I do not view everything as doom and gloom here. By diving into the deeper details of the housing market you then understand where the opportunities are and why a legal suite is a great advantage. Below are my responses to your concerns. -Why do you think someone should spend the...