Sorry for slow reply. The update is my deal fell through and it is going to get new upstairs tenants and the basement guy gets to stay.

Thanks for your past help and thanks in advance for your future help! Good luck!

I'm just going to pay it and be done with it. No tricks, nothing up my sleeve. But thanks for the help!

Hot markets bring out more and hopefully better renters so that is a nice bonus if you do well at tenant screening. Personally I'm taking advantage of the hot market and upgrading my portfolio so that when the market slows down I will have properties that are more suitable for a long term...

I didn't think it was possible, but the guy who told me it was possible seemed pretty confident......I had to ask. I will just "defer" the capital gains by buying RRSPs with the profit:) Thanks for clearing that up.

Is it possible to sell a property in Canada and take the money and roll it into another property without paying capital gains? Just defer them to another day sort of thing I've always been under the impression that you could only do this in the USA but I talked to someone who owns a couple of...

Perfect! Thanks very much!

We are selling one of our properties and the seller has asked that we give 3 months notice to the basement tenant as he plans to convert the house from an up and down suited to a room rental. The upstairs tenants have their lease expiring so no big deal but the basement guy is month to month...

Thanks for the replies Lisa and Adam. I agree Adam that it will be much simpler to keep it as individual suites. We could get more money as separate rooms but then we need to furnish it etc. and it isn't a road we want to go down. We live 15 km from town and have 2 kids ages 1 and 3 so...

Ok I'm glad someone agrees with us. Basically our approach is it isn't our problem, if she wants to move out and have the room empty too bad. I think we will do the separate leasing for each individual in the future. We have considered selling this house and getting more into single family...

I should clarify that this is not a house where each room is rented separately, there are 3 people on the lease for the entire upper suite. I think the lease is going to run out and we will be turning it into a room rental just because of the applicants we have been getting.

Hopefully I can make sense of this....here it goes: We have a suited house that we recently had some issues with the upstairs tenants. We originally leased it to 2 girls back in December and after a couple of months they weren't getting along and they wanted to break the lease and go their...

6% population decrease from 2006-2011 according to Wikipedia......yep that sounds like home

I would be tempted to bet $500 that it is rented to a powerline crew right now? That area is where I grew up:)

We just bought a property away from home, partly because it was a good deal in a strong market and the other reason was just to prove that we could do it and we were comfortable with it. The property management obviously hurts the cash flow, but it still cash flows positive and is a great...

Congratulations! Good you're starting young and investing in a great market.

Great story! Congratulations! I like how you made the choice to take the basement to get ahead faster. Congrats on becoming a citizen too, great things ahead!

So plans changed.... After making an offer in Leduc that went sour I ended up making an offer in Edmonton instead.....I chose the city instead for a few reasons, mostly because the numbers are similar and Edmonton has a more diverse economy. If Nisku suddenly got slow Leduc could become a...