In our case we were getting $1795 for the 1/2 duplex. The lease is coming up for renewal in a couple of months. The neighbours who own the other half of the duplex offered our tenants rent of $1500 for their unit. We`ve suggested we`ll reduce our rent to $1600 and pointed out there are moving...

QUOTE (smack123 @ Feb 27 2009, 11:35 AM) Elizabeth and Ed, THANK YOU both very much for your responses. I now have a better understanding of where I stand. Okay, so I will include both P&I on the mortgage - I understand where you are coming from. None of the LOC funds are being used to finance...

Keep in mind there`s lots of turmoil for workers at Scotford Shell these days. Lots of welders, etc. have been laid off or seriously cut back on overtime, living allowance etc. My tenant is a manager and has lost a seven percent living allowance and all of his overtime. Multiply that by however...

It seems 1/2 duplexes in Fort Sask are around $1500 to $1550. We have tenants who we are renegotiating with and have suggested $1600 because they have a dog.

Hi there, I`ll throw a few names your way. All three are good bets to go with so it`s really a matter of who you like best. Lucas Fausak is REIN member, investor and a realtor who knows townhouses and condos extremely well. His cell is 780.965.7029. Michael Grekul is another REIN member who is...

QUOTE (andrewsimpson @ Feb 14 2009, 04:29 PM) A sure way to be rid of a squirrel is to set up a feeding station and put a trap right beside the feeder. If you feel this is unethical you can try a live trap or a humane trap but the problem with squirrels is that once they are trapped inside a...

My leases say shoveling and lawn mowing are the tenants responsibilities. As for which tenant does it when it`s a suited bungalow or duplex, I tell them to work something out between themselves since they are all adults and can divide responsibilities equally. I don`t have any multi-family...

QUOTE (GaryMcGowan @ Jan 27 2009, 08:02 AM) Peter / Mike, On the lenders that are offering quick closings are they looking for proof of down payment funds to be held by the borrower for the min 3 months? thanks Lenders always want to see a 90 day history of down payment funds. It`s required...

Happy 2009 I plan to: a) enjoy watching my boys develop. (They are 3 and 1 year old so lots of rapid changes) b) grow my mortgage business c) find at least three new joint venture partners and purchase at least three more Edmonton properties. d) improve my property management skills. There`s...

I suspect if the banks don`t toe the line and pass on the full rate cut the feds will threaten them by reminding them such action will do nothing to help the cause of bank mergers, (if that even remains a distant hope for the bankers) or if they find themselves needing help on some other front...

Hi All, Good news for those of you with variable rate mortgages. The Bank of Canada has cut it`s key lending rate by .75 percent. A couple of banks have reduced their prime rates by half a percent. Others should follow in the next few hours or days. Enjoy your extra cash flow. However, you can...

Here`s mine. Feel free to use it: To Her Excellency The Right Honourable Michaelle Jean, Governor General of Canada. Dear Madam, I certainly don’t envy the difficult position you find yourself in with regards to the current political drama unfolding on Parliament Hill. I trust you will receive...

Keep in mind that a career change will impact your ability to qualify for a mortgage for a while - especially if you start your own business. You might want to take on a property or two and do a trial run to see if you do like property management before making a major jump. All the best Jason

Don`t bother waiting a couple of weeks. Just delete, rework it and get it back up there. Repeat over and over until it`s rented. Good luck!

Way to go! If Don does a sequel to 51 success stories you should definitely be showcased.

My wife attended a presentation by David Foote the other day. (He wrote Boom Bust and Echo.) The big message she took away as it pertained to real estate was that kids of boomers, the echo cohort, are about to burst into the real estate market over the next three to five years and they`re going...

In short, be a good boy or girl scout. Be prepared!!! Your stress level - and our stress levels - will thank you for it.

Hi Lucius, Remember that you also have an advantage over people who bought in 2007 and paid top dollar. They need maximum possible rent or they`re in negative cash flow. You`ve bought at a discount to the peak so you`re in better shape. Of course people who bought in 2005, 2004, 2003 etc are...

Treat your tenants fairly and with respect in all market conditions

Manitoba`s economy is very diversified. Agriculture, transportation, government, hydro electricity, manufacturing, food processing to name the major groups. It won`t boom. It won`t bust. Just steady as she goes. However, there are draw backs. Rent control. Land transfer taxes. Tough renter...