@Rickson9 there are going to be opportunities to catch the falling knife here. In my opinion, I think it is more on the bottom of market inventory (SFH, duplexes, fourplexes) than the investment-sized. Be cautious U/W $1800 to $2000 rents... there is too much supply at this level IMHO. The...

Macaulay is not a property you manage unless you have a pro team or live in Edmonton. Make sure you own riot gear. Honestly, it is a super difficult neighbourhood with lots of homeless and problems.

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Depending on the portfolio size, you might be able to secure some form of a commercial mortgage. Debt to take out some part of the equity is the cleanest option. If you are at 37% LTV, then you owe your spouse 31.5% of value (less disposition costs, call it 30%), so you are at 67% LTV. My...

They are selling this to extremely unknowledgable people. Look at the ad copy. These guys are jokers. They seem to be suggesting you can use your credit card to buy units? Someone is going to report these goofballs to the security commission. There is not even a hint of professionalism in this...

It is interesting though, that such a premium exists in the first place? A friend of mine was talking about a condo de-conversion in Edmonton at a building called the Lamplighter (Google maps). According to him, it was a condo where the owner bought enough of the units to re-convert to a...

I'm looking at a small value-add apartment in an inner city neighbourhood in Calgary. As part of the exit sensitivity analysis, I am looking at what renovated condo units are selling for on the market. Before considering condo fees, it looks to me that investment properties are pound-for-pound...

Did you use your contractor to do the landscaping or did you use the Dolce Vita contractor? It is pretty typical that a builder would use their own trades to complete the work on a home.

The holdback is there to ensure architectural and landscape requirements and are met. It is standard practice across developers. You only get the deposit back if you take responsibility for defects...that's the whole purpose of the holdback. You still have a New Home Home Warranty.

Whew tough love Thomas! ;)

@Michel Lafleur just a word of caution with BRRR and secondary suites. The core problem is that there is no premium for developing secondary suites. Secondary suites, taking a finished one-furnace basement to a legal suite, costs in the neighbourhood of $30k and reaching about $50k is not that...

Hi Dustin, If you want to go forward with a brrrr strategy (Buy, Rehab, Rent, Refinance, Repeat), then you want to be in a market where there is some real absorption. If the market is too thin to absorb what you are selling that is a problem. The banks will probably have trouble getting their...

@NeilBirch the suggestion of a PM is a good one if you are done with the hands-on aspect of cleanup...however this is going to cost another ~$250 / month you probably don't want to fork out. My suggestion here is to think in terms of what else you can do with the net proceeds you will receive...

I think @Willyboy was referring to the 'everything works' party being over ie. never-ending cap rate compression. We have probably touched our lows or are very close to them. If you were a buyer in Vancouver in the last 12 months, I'd have some sleepless nights thinking about the prospect of...

This is more of a market question. Take a look at every single property in the area that has sold in the last 2 years. Look at every single property on the market: price point and reno quality. Find out the cost to cure. ROI? That is the answer. Will a Realtor help? I seriously doubt it...

^ unless the broker syndicated the loan across properties, probably not, and in aggregate would need to meet the 20% threshold. Unless you are 20% down, you won't mean the DCR requirements anyway with pricing where it is at so it is a moot point.

Yep, 20% down minimum on a standalone investment property. The cool caveat is that if you buy a home a bit out of your price range with a legal suite the bank will count that income towards what you can afford and allow the 5% down. If you are young and mobile this is a great strategy. When it...

Rent to owns are the rub and tug of the real estate industry. It is for jokers. My suggestion is to avoid borrowing money at 50% +++++ interest.

My suspicion for why service is so bad for residential mortgage brokers is that the value add the brokers add is making it easier for the banks to review the mortgage docs. But the customer actually does all of the work for the broker... they fill out the forms as the customer, get all the...

Thanks everyone, yes it is a slick program and pretty essential for building personal net worth. Yes, the rules require repaying the RRSP down payment funds or face penalties. However, I hope that most in this forum realize that they should be maxing out their RRSPs and TFSAs before they jump...