So many great stories here! It`s really what sets us apart from the masses - when someone needs help, nothing is as satisfying as being the one to assist expecting nothing in return. I remember a year ago when a shed burnt down in a property I owned with all my client`s christmas supplies, 4...

QUOTE (investmart @ Oct 29 2009, 04:45 PM) Great feedback everyone, Mitch, the unit in question is in a 4-plex and yes 2nd floor. So apparently, based on your feedback, in a Plex (2-4 units), carpet might actually be better or at least not a disadvantage(!) The reason is 2nd floor carpet has...

Sounds scary! Hey Thomas - why were you investing in someone else`s fund? I thought you were the `apartment building` guy yourself! In any event, I hope you make it out of that investment with minimal losses of both cash and sanity.. Best of luck and thanks for your continued support on this...

I`m doing more and more laminate these days, but depending on the property.. If the property is suited I will typically stick with carpeting upstairs as it really dampers the sound between the units better than even think underlay under the laminate flooring can. But laminate can be done...

HydroHead; Are you able to manage three seperate tenants in this type of situation? What you`ve stated is different than just renting out a `basement suite` to tenants, it looks like you want to rent to seperate people for increased revenue. That works great, but there is a lot more work, and...

QUOTE (jvarcoe @ Oct 28 2009, 03:55 PM) It`s determined in advance when you create the lease agreement. I like to sit down with the tenant and determine how long they will need to fix their credit and save for the down payment. Let`s say we agree on 3-years. I would then take the current...

QUOTE (travis @ Oct 28 2009, 12:35 PM) Hi Zander, Is it possible in the option-to-purchase contract to set the purchase price today for the future. So, if you create a 5 year term for your tenant buyer you can agree on the option price in the documents today. Assume a 5% annual appreciation...

Hey everyone; This is a great issue, and something that I`ve looked into personally with our situation as well. I currently own 17 properties with a total of 32 doors and have decided against incorporating. First of all, the costs and increased taxes up front did not seem to make sense. There...

Hello; This is a good question - you should be able to turn this amount of capital into at least $1,000 per month positive cash flow. Check out the areas in which you wish to investigate purchasing real estate and then dig deeper to uncover the diamonds! Good luck!

Hello Miguel; I am very familiar with REIN strategies to buy property, and while I missed Ron`s event in Edmonton, I would be more than willing to work with people to get deals done in the NE BC area. Call or email to discuss further! Warm Regards;

Man`s Search for Meaning - Viktor Frankl This book will quickly show you how much we take for granted and will put your problems in perspective. Think and Grow Rich - Napoleon Hill Great old classic about what it takes to not only become wealthy, but how to become a better person. The Power...

This is definately something you need to be careful about - but here is an option for doing this. Decide what the cash back is to be on the purchase - say the buyer needs $10,000 down payment at closing. Then negotiate with the buyer what the purchase price will be. Once negotiations are done...

Congratulations Brett! Best wishes for you and your soon to be family!

QUOTE (invst4profit @ Aug 16 2009, 07:01 AM) Yes $600 a month positive on a duplex does seem like a lot of money. I am curious as well but more importantly concerned about being overly optimistic. I have seen this get many investors in trouble. This is one of the main reasons I chose to...

REIN Team; You guys think Calgary will really see an average 10-12% across the board price jump this year? I`m just curious about what other investors think about that number. Thanks!

We have had to deal with this as well on a couple of occasions. My poor wife doesn`t deal well with people losing their cool on her over the phone, and there has been a couple instances where we`ve asked good tenants to take responsibility for damages caused at the end of a good tenancy and it...

QUOTE (invst4profit @ Jul 25 2009, 02:40 PM) Unfortunately in order to raise the rents to market the ownership on the homes have to change hands. Even when they do I am restricted by the RTA to raise no more than $50/ month. That is why I buy the ones with the lowest rents when they go up for...

Hi again; Greg - here`s another example of a great cash flow property. I have a 4 plex that we purchased about 3 years ago for $340,000, and sunk $30,000 into renovations. We got an interest only mortgage with Merix at Prime -0.9% with a 75% LTV. Our current mortgage payments are under $400...

QUOTE (invst4profit @ Jul 15 2009, 06:04 PM) Mitch Personally I have removed my investments from the residential home/apartment rental property business over the last few years. No more buildings for me I only rent out the land now. However when I was buying I was extremely selective in the...

QUOTE (rabrol @ Jul 15 2009, 03:30 PM) And if interest rates were 8% on the $308,000 mortgage payment would be $2159. Add the other stuff and the monthly expense on this would be $2934, for a negative cashflow. However in 5 years time the rent would also have increased... I see many people...