...equity should be no problem at 100% presales. Projects can go ahead with sufficient equity on 30% presales. I think this failure is due to costs increasing - and drastically. Not a "financing" problem the company discussed. Broader question is how much have construction costs risen in GTA...

Can those familiar with the Vaughan market provide any commentary on this: https://www.theglobeandmail.com/canada/toronto/article-vaughan-condo-cancelled-leaving-1100-buyers-in-limbo/ My take on this is that it has nothing to do with financing ... with 1100 presales and some buyers putting down...

:rolleyes: Stripper bus!

I can't wait for technology to make the home buying process a lot better and displace 50% of Realtors. They really do almost nothing for $15,000 or more.. - write advertisement - posted on MLS - post on personal website - give me the same for sale homes to my inbox as I can get online with a 5...

The DD can be used to recover those costs. People with money do not abandon all their possessions and run so don't waste your time in court. It has nothing to do with the province you invest in.

Why wouldn't you just build homes instead? Margins are way better and you get to (generally) work with much better trades.

I'd set fixed utilities at $120. Offer a discount if they come under after 12 months. If $120 doesn't cover utilities then I have an addendum to increase utilities. Most people would rather pay a fixed amount, I'd provide as little detail around it as possible.

In Alberta, tenants cannot wave their right to less than their rights under the RTA... I believe article 3(1). So that agreement you had her sign in Alberta would be thrown out. My expectation is there is something similar in Ontario. I'd be careful with agreements like that. A lawyer could...

Fixed utilities is easier. Add addendum with - discount if below threshold (if in renter's market) - billed for 100% of house if bsmt / main floor vacant - utility cost will increase if usage increases

I think these questions miss the point of real estate investing entirely. The point of multifamily real estate investing is to provide quality housing. The question should be how do you create value, what are customers looking for, how are the demand drivers changing not "how can I get super...

It's important to meet in person if you haven't done that already. But you never know for sure with anyone.

PM for single family homes is a joke. It is basically just a leasing commission. Better to hire a "babysitter / caretaker" and build out your own monthly PM report. Really simple - budget & variance - planned cyclicals - discussions with tenants - renewals / lease expirations - exit strategy

This is one area where condo board rules trump RTA. Follow the condo rules, they have power to enforce pet rules.

we declined your application "..."

Don't limit to just those items, say can include costs such as ..... leave it open in case additional remedies are required. If you were the expert, you would never allow a shotgun clause. That is a clause for two equivalents, not for one expert and one amateur...

Going in with no money is a great way to go out feet first. Most touting AFS are predatory buyers taking advantage of someone else's inexperience. It's not creative if your unethical, your just unethical. Using someone else's paydown and calling it your cash flow... uhh.... they should just...

Good thoughts above. Make sure when you run your property-level financials you add in the cost of the debt from your HELOC. As stated above LOC is an emergency line, not for purchasing properties. Also, your balance sheet will be a bit upside down on the new property as even if you have an...

Hey Tom, I really like your approach to this. To your point about the ratios: there is a time to buy, hold, and sell every asset. Legally suited homes will squeak above this 10% threshold. Keep in mind who the supplier of the information is. Canada is at historically high price to rent ratios...

@Sherilynn what are "net profits" on your 9-year deal? Free cash flow? Or free cash + property appreciation. 9-years overall $76,000 is $703 cash / month. I'm calling BS, that includes an appreciation write-up, that's not free cash flow. "Net profits" is not a real term either, never heard that...

Thanks for sharing Thomas. A couple ugly blowups for sure. How did the committee get around the conflicts of interest between TFS and SecureCare? If TFS is owned by Peter?