Payout penalties are another reason for selecting variable over fixed rates. I want to know my penalty will always be three months interest, not the greater of three months interest or the IRD. Yes, I realize with a sub 4 percent fixed it`s quite likely the penalty will be three months interest...

TD is not a rental-friendly bank. There are other banks that are much more receptive to investors. QUOTE (GaryMcGowan @ Mar 3 2010, 07:35 AM) TD requires 25% down for rental properties. Use a mortgage broker and they will be able to shop the deal around for you. There are still many lenders...

Absolutely have a washer dryer. They are dirt cheap especially when you find yourself a good dent and scratch supplier. A good supplier means it`s often cheaper to buy a new unit than to have an old one repaired, believe it or not.

interesting story on the reportonbusiness website about syncrude scrapping plans for an upgrader because it's far more profitable to ship it to the US The Alberta Royalty review was a huge mistake. However, the fact that BC and SK are now offering a good business environment is still a huge...

Depends on your risk profile but if it were me I wouldn`t be thrilled about giving my lender a 2 percent premium QUOTE (jkcomm @ Feb 18 2010, 10:42 AM) Excellent discussion! My wife and I have a mortgage at P - 0.6... should be lock in? James

From my perspective it`s not necessarily the size of mortgages that the consumers have that is the main debt problem but rather consumer debt like credit cards, lines of credit, crazy car payments, etc. You`d be amazed by some of the things I see. QUOTE (ThomasBeyer @ Feb 18 2010, 07:07 PM)...

I had the same question. It sounded like maybe multi-family buldings might be exempt for example. QUOTE (bizaro86 @ Feb 16 2010, 10:18 AM) He`s also raising the downpayment that borrowers must pay for speculative investments. If prospective home buyers want to purchase a property where they...

If you are in Edmonton call REIN member Mike Sunley. He owns odorzap which you can visit at www.odorzap.ca He does a bang up job!

Pay down debt first. It`s a 100 percent guaranteed return at better than the interest rate you are being charged since you`re paying the debt in after-tax dollars. .

Happy wife, happy life Go with the personal residence to start. Worry about tenants and investment properties later. QUOTE (khleung @ Feb 1 2010, 10:14 AM) Hi all, I am looking into taking my first few steps into REI but would like to go on this journey with my wife. We currently rent a home...

QUOTE (saskbrian @ Jan 29 2010, 08:10 AM) When we are talking with potential RTO folks with credit issues, we tell them that one of the benefits of doing an RTO is that it can help them repair their credit file. How is this accomplished? Do I as the landlord report their monthly payment history...

QUOTE (Gen1GT @ Jan 29 2010, 09:32 AM) Those are valid points. However, if it`s a marketing technique that works, why is it only realtors do it? It`s funny, because of the nature of the real estate industry, if you don`t put your picture out there, customers will probably think you`re shady. LOL...

QUOTE (JonnyK @ Jan 25 2010, 09:51 AM) Ohhh, I forgot to mention my location. I'm in Calgary. I also forgot to mention that if I buy a new home I only pay 3.5% GST (government discount). As for the broker being paid by the bank, a book I read titled "Mortgage Rip-offs and Money Savers" by...

QUOTE (Nicola @ Jan 24 2010, 01:29 AM) Thanks Adam and Thomas, I was thinking more like $4000 than 6000 - we will be getting quotes next week, so hopefully that`s what it will be. It just seems a lot to pay about 6 months` worth of rent to make it rentable! How much is it going to cost you if...

QUOTE (fumbrunner @ Jan 23 2010, 01:22 PM) Premiums are the same. There are different premiums for non-owner occupied rentals. The premiums are signficantly higher for 95 percent LTV mortgages. This is because the risk of default is higher. here is a link to the rental premium info sheet...

QUOTE (AndyLuchies @ Jan 23 2010, 11:38 AM) Are you serious! The mortgage lady at Scotia (where I have my principle residence mortgage) told me they don`t do rental properties!!! When did you get your mortgage with them? Scotia is very good for rental properties. They let you use a 70 percent...

QUOTE (investmart @ Jan 19 2010, 11:16 PM) Comment is a bit surprising. Example: Investor 1 puts 20% down and buys one property generating $500 a month net income after financing Investor 2 puts 10% down and buys TWO properties identical to the one investor 1 purchased generating $400 each...

Great post Godried. You made my afternoon break.

QUOTE (tytrischuk @ Jan 19 2010, 04:12 PM) Hey Guys, Just wanted some clarity around this. Is it true that you need to have 25% down to get a mortgage from CHMC to purchase an investment property? But if its your principle residence you can get one for only 5% down? Your answers are greatly...

Talk to a mortgage broker for your next deal. Not all lenders treat rental properties the same - especially with regards to rental income, net worth requirements and down payment requirements - and you`re far better off working with someone who knows what`s available for your situation rather...