I started out as an investor with a job and then decided to switch to mortgage brokering as a career so I could learn as much as possible about the financing aspect and help my real estate business. A couple of things to keep in mind before you make the jump. First, by as many properties as you...

I also thought it was great. I liked the panel format. I also really enjoyed Steffany Hanlen`s and Phillip McKernan`s presentations. I don`t know if they took their game up a few notches or I was in a different mindset than previous presentations by both of them, or maybe a combination of the...

[quote name=`MKBridge` date=`Jun 23 2009, 08:29 The issue is that it is a 19+ building. I thought this would be ok because of the location and attract hospital workers or downtown employees. Plus the location is pretty attractive from a selling point in the far future. The lenders do not like...

Hi Dan, Give my former business partners at Epic Photography a call. John Ulan at 780.721.2401 or Ian Jackson at 780.991.3899. They are in Edmonton. Jason

CMHC may reduce the maximum allowable amortization, depending on the age of the home. I just ran into a ridiculous situation last week on a mobile home. CMHC wanted a maximum amortization of 15 years. Bridgewater Bank, the bank the clients were trying to get financing through has a minimum...

Check and see if there are any consequences these guys would face from the Ti`Cats if they mess up as tenants. That should help keep them on the straight and narrow.

This thread and Ed`s screening process is such a good case study that it would almost be a shame if Ed didn`t rent to her so we could find out if she was indeed a deadbeat tenant. Too bad there`s real money at stake, the potential for her to cause serious stress in his life and the potential...

QUOTE (EdRenkema @ Jun 9 2009, 08:54 PM) I almost was..... then I would have been coming to you for advice on how to evict How are you making out with other applicants, Ed?

There`s also land transfer taxes, crazy expensive property taxes and rent control in Winnipeg.

I have two thoughts: 1. Forget about these people and keep looking for better tenants. The story is BS. When was the last time you forgot your purse or wallet on a park bench - especially when you had a $1500 money order in it. Try asking some open questions like "Where in the park was the...

My .02 is that fixed rates aren`t going to go up in a straight line. They`ll go up a bit then they may come down a bit and then go up a bit more. In the meantime, consider how far your variable rates need to rise to equal current fixed rates. Also consider what locking in will do to your cash...

Assuming you`ll realize a capital gain, will the after-tax proceeds be enough to purchase property or a properties of a greater total value, than your original property? Will the new property or properties likely produce more positive cash flow than your current property? A group of us were...

QUOTE (housingrental @ May 28 2009, 12:29 PM) Kevin and Thomas - I'm a bit confused re CMHC refinancing. Once you've already purchased a home with a conventional mortgage you can after the fact get it to a cmhc mortgage ? yes. you would be replacing the original conventional mortgage...

QUOTE (wgraham @ May 27 2009, 09:07 PM) I will second this with the added note that the CMHC fees are deductable on an investment but not on your personal residence. Good luck! W CMHC fees are significantly lower on a personal residence than on a rental property. CMHC fees will make it harder...

QUOTE (rena98 @ May 21 2009, 11:49 AM) Thanks all for your input. I used to work in a bank, I remember they use purchase price or appraised value whichever the lowest one to mortgage a property. Am I right? If that`s the case, how long do I need to hold in LOC to let them use appraised value to...

I sure hope they are able to recycle all that material. What a waste!

QUOTE (JLevesque @ May 14 2009, 09:09 PM) Hello everyone, Im looking for a good mortgage broker in Edmonton. Any help would be great. I just finished the ACRE home study program and plan to join REIN in the near future. Thanks. Joe Hi Joe, I`d be happy to sit down with you and help you...

QUOTE (adamturner @ May 17 2009, 07:57 PM) Does prime plus 2% sound about right for a loc from BMO. What options are there to get a better rate. That`s high. ATB will do prime plus 1.

If you have odour problems call REIN member Mike Sunley. He owns odorzap. His website is odorzap.ca and his cell number is 780.919.9494 He will travel to do jobs so perhaps he`ll go to Calgary for you.

I ran one rental ad on rentboard, kijiji and rentfaster in April for a main floor suite in Edmonton. Here are the results: Rentboard five inquiries by email. Several by phone although I didn`t keep track of the phone calls - probably about five to seven though. I did not modify the ad during...