QUOTE (ThomasBeyer @ Apr 18 2010, 09:01 PM) indeed re the $4000 .. I wrote in haste .. Enlighten us on terminal loss please .. as I was advised by my accountant that a loss on sale of stocks or real estate canNOT be used against employment income but only against capital gains !!! Here are the...

QUOTE (ThomasBeyer @ Apr 18 2010, 07:14 PM) If however the rent is $20,000/year and expenses are $16,000 for a $4000 income, minus depreciation of 4% on a $250,000 asset or $10,000, i.e. a loss of -$6000 then the $-6000 canNOT be used to offset other income, in fact you have to pay taxes on...

QUOTE (Goodstuff @ Mar 20 2010, 03:43 AM) I did a refinance on my properties last year to take advantage of the low rates being offered. Now I`m wondering if I can claim on my taxes the penalty charged to end the old mortgage. Anyone know? Absolutely, but i believe you have to deduct this...

QUOTE (larysa002 @ Mar 14 2010, 11:35 PM) One of our condition was 3 previous financial docs, but they signed back, so they provide only previous year. I know commercial lenders require 3 years. The question now: will it be doable to finance ? This is part of the deal that's called due...

IS THIS LEGAL? Yes, there is no CRA law saying you must use rental income to pay for rental expenses. You can use investment income however you want, I use mine to pay off my mortgage and let my line of credit pay the expenses. CAUTION: Although many accountants say this is a great strategy, I...

QUOTE (Mpowered1 @ Jan 4 2010, 07:52 PM) We are in the middle of buying our first investment, a 4-plex. The bank wants the lawyer to confirm that the building conforms to the Fire code and Building code regulations for a fourplex. She says that it is standard practice for the Lawyer. We need to...

There are two things that put a smile on my face today and reading this article in the Globe was one of them...Its about time the Feds increased the 5% min. down. This means a person will have to rent for a longer period, great news for landlords and it will strengthen the housing market...

There are two things that put a smile on my face today and reading this article in the Globe was one of them... Its about time the Feds increased the 5% min. down.

QUOTE (investmart @ Dec 11 2009, 06:56 PM) Hi All, When purchasing an apartment building say 10-plex or 20-plex: Is putting a corporation on title (instead of personal name) just recommended or actually required by most banks? why? THANKS. I have a 22 unit building that`s owned personally...

Can anyone recommend a realtor for multi-family properties in Edm. I`d like to work with someone who typically works with properties in the 10 - 20 unit range. Oh yeah and preferably someone who will actually reply to an email or phone message. Thanks

QUOTE (RCC @ Dec 1 2009, 07:05 PM) Has anyone received notice of increases in interest rate on bank HELOC. I had a RBC HELOC at prime for over 10 years. I just received a letter that my rates will now be prime +1. Anyone in similar situation and anythinhg we can do? I received the same letter...

The only other thing I would add is that, if you own the property personally, you can expense the CMHC fees (over 5 years) when you calculate your net rental income on your taxes, this could result in a nice refund if you have employment income.

QUOTE (investmart @ Nov 25 2009, 10:12 PM) Hi All, A new potential tenant wants to bring a 1/2 ton aquarium (125 gallon!). The apartment is on the second floor of a 4-plex. What is the maximum aquarium weight you allow? In additional to potential water damage, how can we estimate the maximum...

QUOTE (ThomasBeyer @ Nov 23 2009, 05:25 PM) narrower definition of "market" please .. with over 100,000 listing in Canada I`d venture to guess there is 5,000 opportunities RIGHT NOW that are WOW !!! for example, we have 3 buildings under contract right now in Alberta that are wow ..and are...

QUOTE (drbigb @ Nov 21 2009, 04:43 PM) I am wondering if anybody here as any experience in the Manitoba market. I am looking at a 4plex that is fully rented and by the looks of things the tenants will probably never move out. With Manitoba`s rent controls allowing on average just under a 2%...

QUOTE (Runman @ Nov 11 2009, 12:58 AM) Hi everyone, I am just wondering what everyone`s opinion is regarding investing in residential multi- family (1- 4 units) vs commercial multi- family (5+ units)? Specifically, I am quite new to real estate investing. I have read alot regarding the...

QUOTE (ThomasBeyer @ Nov 3 2009, 06:00 PM) sorry .. I did not mean to implicate you .. I was making more of a general statement ! please enlighten us here how this is possible .. as I am of the (perhaps mistaken) understanding that a real estate investment cannot create a loss against regular...

QUOTE (fumbrunner @ Oct 29 2009, 08:47 AM) It was posted 11 hrs ago. Unless potential tenants are up all night looking at ads, most won`t see it until this morning. Also, invest the $20 to make it a top ad. I have good success using kijiji, but ads tend to get buried. As a top ad, you increase...

QUOTE (investor13 @ Mar 24 2009, 08:22 PM) What do you mean? There is always a limit on the personal guarantee - it`s limited by the amount of loan/mortgage (with interest and miscellaneous fees). The bank cannot go after all your assets, but only after what`s owed to them. For example if you...

Me too...if you guys wanna meet up for a coffee let me know.