There is only one issue with having the offeror`s lawyer hold the deposit - The lawyer, unless he expressely underwrites to all parties to the contract, does not act as a stakeholder, and can therefore return the deposit to the offeror at any time - potentially leaving the offeror open to...

From my experience with residential units, everyone who is going to be on title MUST also be on the applicable mortgage. So unless you are setting up your JV as a `caveat` or some other form of interest in the property, the JV partner will need to be on title if they are also qualifying for the...

Hello all; We use laminate, and decent underlay to help stop this. Another way to really help eliminate noise travelling is to cut a small hole in the lower suite`s ceiling and blow in `soundproofing` insulation. This way you don`t have to rip all the drywall down for a really good sound...

Hi again; That $34,000 quote is insane. I`ve renovated entire houses - paint, flooring, light fixtures, landscaping, fence repairs, plumbing etc for under $10,000. This includes pulling up the old flooring, disposal, laying new underlay, laminate, trim, paint.... I would only consider a bill...

Hello; This is in my mind the most critical aspect of the 'real estate dream team'. What we've done is hire a 'handyman' or a renovator who isn't that busy and can tackle all types of trades. Then, assign what you want done, purchase all materials yourself and pay him by the hour for...

Hello; I`ll just chime in quick here - Dawson Creek has NO PM companies at all. For larger buildings, there is a PM company out of FSJ that will attempt to hire a live in caretaker to manage, but it`s still not very great. As far as Fort St. John, there is 3 PM companies - Sterling Mgmt...

QUOTE (greg12 @ Mar 9 2009, 10:40 AM) There were some surprises to say the least. After seeing this, you wonder what other preconceived ideas in your mind could be shattered by unbiased research work. 1. Surrey 2. Maple Ridge & Pitt Meadows 3. Abbotsford 4. Kamloops 5a.Dawson Creek 5b.Fort...

Hi devc; Just posted a long reply here to answer all your questions in your PM to me...but something messed up and I lost the whole post. I`ll try to find some time over the next couple days and repost that! Good luck Mitch

Hi All; Direct debit would be a good alternative. We are currently using RBC, and doing the old cheque deposit system. What I like about this is that cheques issues from tenants from another RBC branch (or even the same one you deal with) can show up NSF right at the teller. Also, with cheque...

Hi Everyone I`ve been investing since I was approx 24 yrs old - am now 27 with 30 doors. Would be very willing to join in a `young RE investor` discussion! Thanks

Hello Paul; I`ve done a lot of research in the area for rents, but in your experience, what would a nice 3 bedroom top floor suite rent for? Includes shared washer/dryer, new reno`s (paint, flooring, bathroom), and a large fenced yard. And also a seperate 1 bedroom basement suite? Also been...

Thanks Paul; I will be heading down in a couple of days, was hoping for any insights from people in the area before I got there! Thanks again Mitch

I guess the actual neighbourhood is called York..but it`s two blocks east of Londonderry Mall. Thanks!

Hi Everyone; I am looking at purchasing a home (with a basement suite and seperate garage rental) for my wife to live in while she is finishing up her degree at U of A. We are looking very closely at a fully renovated half duplex with a nice basement suite and seperate garage. It`s located...

Hi Marco; Great question that you`ve posed here! I can remember being your age and asking the same questions. I am now 27 with 30 rentals that I manage myself. In that time, we`ve even taken a LOT of renovation projects on - a couple single family houses, duplexes, full restoration of a 60+ yr...

QUOTE (klewlis @ Jan 8 2009, 03:33 PM) what are the rental markets like in Dawson Creek (my hometown!) and FSJ? I just did a quick search and prices in DC seem to be just slightly lower than Edmonton... I would have expected them to be cheaper, but I guess the town is growing. What`s the vacancy...

Yet at the same time, year ending 2008 saw BC`s land right sales at more than $2.5 BILLION, which is over QUADRUPLE what the last record was for the record drilling years in 2005 and 2006. Just thought that I`d throw that out there...drilling will be happening, but perhaps more on the NE BC...

Hello; Just to elaborate a little further..depending on where you live and where you are planning to invest, it may seem that cash flow isn`t possible, perhaps if you are investing in Edmonton, Calgary, etc. Or, if they do cash flow, it is quite insignificant. But if that is the case, consider...

Thomas; Thank you very much for your insights. I (and I`m sure a lot of other people too) really appreciate that people like you take the time out of your busy days to spread your knowledge and help educate people.. Thanks! Mitch

Hi Everyone; Here is what I`ve done. I have a seperate JV account for each JV partner. Then together we open joint accounts for each property. At the end of each month, I bring all the cash flow from each property account into the JV account and we take the funds from that account. I like...