What your friend was trying to buy is a legal fourplex. If your friend is successful at purchasing he should consider the same concerns which CMHC and the appraiser had! What would the property be worth if a by-law officer puts a red tag on his front door and orders him to remove the two...

Why don`t I reduce my commission? Why don`t you reduce your rent/cashflow/net income, this way they can save for a down payment on a house ? So you feel you are smarter than the banking monopoly in Canada? In the last 30 days they lowered variable rates yet increased LOC rates and today they...

You don`t need a crystal ball, just a little cognitive ability or google. BOC lennding rate was 4-5% just 2 years ago, 2007. QUOTE (fumbrunner @ Oct 6 2009, 11:56 AM) I`m glad your crystal ball is working so well. Mine is a little bit more cloudy. BTW, there are significant differences...

Most of us can do the cashflow math at a given interest rate. Obviously, when I asked for details I did not mean calculate the math for me. What we eagerly want to know is what type of a property has a current market value of $230k and a gross income of $30k/yr. QUOTE (tbarcier @ Oct 5...

Sorry, been busy selling houses in this crazy market! Sure, someone could own rooming houses and or student rentals and use a PM. It`s just not for me. QUOTE (housingrental @ Oct 6 2009, 11:49 AM) Hi Lucky, Why not respond to my previous post ? You seem to have prejudiced opinions without base.

QUOTE (invst4profit @ Oct 5 2009, 11:35 PM) Your properties and your choice of tenants seem a bit too high brow for my taste. Silver spoon mentality. I am beginning to understand why you are struggling to understand the basics of income investment properties. Of course you are entitled to your...

Wise words! I have definitely planned on it. And planning on prices adjusting down 10-20%. Although I thought this party should have slowly ended in 2005. But the stimulation just kept on coming. Sometimes I feels the policy makers must have a big plan to inflate us all out of this. Then I...

I profit regardless. I am 100 % commish, sink or swim. As long as people need to sell I will profit. Inflation or deflation, I will be there. I just feel sorry for those who will get hurt if rates double. I don`t agree with over stimulation. It`s the cause of this bear trap. I remember...

Vinyl is subpar and second class where I am buying. Just like ensuite baths! Better quality tenants expect them. Just like garage door accesses to the backyards as opposed to dragging the lawnmower thru the house. Many corners can be cut in an effort to save money but in the end it`s mostly...

I like oak staircases, in bedrooms I am fine with broadloom as it is a small area. I am not so concerned with how the tenants. Maintain the property as I am tough an upfront with them. I own newer propertie, so I tell them my partners and I have video taped the interior/exterior. I am giving...

IT JUST KEEPS GETTING HOTTER AND HOTTER! HOW HIGH CAN SHE GO? RBC just announced variable rates at 2.10%.

QUOTE (investmart @ Oct 3 2009, 09:56 PM) Greg, Great input! Adam, why not fiber/vinyl floor in bathroom that looks great and is like 1/10 the cost!? not that I recommend, just curious to know. Thanks. Vinyl floor looks great according to whom? You have to analyse your market competition...

QUOTE (investmart @ Oct 3 2009, 10:47 PM) `andyr`, I`m not surprised you got so many responses. You raised an EXCELLENT point! I read Don`s Great book carefully and learned a lot from it. However, I, too, believe a $50 positive cash flow property is TERRIBLE!!! The reason is you need to buy 100...

Sorry Thomas but if I understood you properly, then you misunderstood me. The $40 k is not what I save, I meant it`s what the average couople retire on and I personally am do not want to live that way. I also choose not to live off only $ 80k per year off retirement. For me that is a life...

Godfried, I clarified the my Ethics remarks in the other post (assuming you are talking about me). I said I may have ethics issues since I am an active RE agent. Re; your RE purchase, congratulations, but not enough info to evaluate. What`s the rent, is the rent SF? What is the maint...

My ethics remarks were directed at my being an active RE agent, I was stating that I may have an ethical problem especially where the girl took over approx. $100k of equity. The rest of my post pointed out that he was trainiing multitudes of people to prospect this source of business and with a...

EXCELLENT POST! Exactly my sentiments! I am 47 years young, I need to relace my income which is a multiple 6 figure category. Not bragging just an illustration! I am scared to death of retiring below my current standards or better. To me this means I have not planned my life well...

I watched the free video link. I can certainly see how people can get excited at the propspects of "FAST CASH", "MILLIONAIRE" etc. In the video it appeared as though he was training an army of people to chase after people in financial distress who were going to hand over title even though...

In the future you should have it written in your lease agreement.

Congratulations on your decision to buy new. You`ll get the better tenants and the better rental rates. I just purcased 3 new townhomes myself thru a builder and am working on 2 more. I negotiated $6,500 of free upgrades plus CAC in the deals. I agree not to go overboard but certain upgrades...