QUOTE (JohnS @ May 18 2010, 02:15 PM) I don`t have a source onhand to back this up, but I`m pretty sure the tax laws changed recently, and you`re now able to have 2 personal residences. That sheet was from 2005, so I believe it`s outdated. However, I don`t know if the new version would apply...

QUOTE (creditinfocanada @ May 14 2010, 08:40 PM) Credit Screening, is a an overall myth! Noooooooo First off, from someone that screens for clients all across Canada hundreds of applicants a month here is the problem that most people are having or have had: #1 Your not there for a life story...

Yes, it sounds fishy.  Your application should have a clause that allows you to check salaries, etc.  If not, you need to add it.  SIN and banking info isnt necessary unless you are doing a credit check.

QUOTE (Berubeland @ May 14 2010, 06:10 AM) I have paid $800 for a used set of coin op machines at High Park Appliance in Toronto. Was a few years ago. Ditto. You can fetch a washer and dryer from $800-$1000. You make that back in no time, especially with 12 units.

QUOTE (JimWhitelaw @ May 13 2010, 09:41 AM) Wow, that ON tenant legislation is messed up. It seems like at every turn, the tenant is granted more rights with the property than the owner. Crazy. Even if given the opportunity, I would never own properties in Ontario. Some of the horror stories...

QUOTE (GarretW @ May 13 2010, 05:18 AM) Our high point had 75 units spread out over 43 buildings, but we are currently reshuffling our portfolio somewhat to have properties with lower maintenance in better areas. Hi Garret, as you probably know, I just bought one of your properties. If you...

QUOTE (dustin22 @ May 9 2010, 10:58 AM) Thanks Gerry, I really appreciate the advise. It would be a great help if I could get the Realtor`s name that you recommend. Also does anyone else know about what happens after you have bought your 3rd rental property. How does the new 20% down payment and...

QUOTE (dustin22 @ May 9 2010, 09:02 AM) Hi, I`m relatively new to the real estate business. I have one property in Winnipeg which I own completely with no mortgage due to flipping 2 houses prior. I am looking at renting it out but am kind of at a stand still on where to go from here. With the...

As mentioned in the posts above, it depends on the financial institution.  I had a property with Concentra and they would not refinance within the first year.  I moved the mortgage and took the penalty.  I just finished a two-stage project with one of the big banks where I bought with 80% LTV...

QUOTE (Sherilynn @ May 3 2010, 08:22 PM) Thanks for that, but we have since found a new appraiser that understood the true value. Her appraisal came in $30k higher than the previous appraiser`s (so well within the range we thought it should be). Funny though. We had temporarily given up on...

QUOTE (margaretcowan @ Apr 23 2010, 10:57 PM) I`ve crunched the numbers on a nice, well renovated fourplex in a good part of a major Alberta city. Price is $800,000. But I`d have to put down 35% or about $280,000 (ouch!) to make a measly cash flow of $400 a month on the whole building or about...

QUOTE (Gen1GT @ Apr 23 2010, 05:40 AM) So instead of just answering the question (which is why this forum exists), you want me to wait a few months while I find, sign up for and complete this tax course? Sounds like an inefficient use of time to me. LOL Not that education isn`t very important...

QUOTE (spark1 @ Apr 19 2010, 03:02 PM) Hi all, My wife and I are jointly (50/50) owing an investment property (a duplex). She does booking, accounting, and helping with property management and painting/cleaning when tenants moved out. She is in much lower tax bracket then I. 1. Can we write...

QUOTE (Gen1GT @ Apr 21 2010, 05:46 AM) With a rental property, what expenses will the government allow? For instance, let`s say you put in 8% for vacancy allowance, and 10% set aside for repairs. And let`s say you had no repairs for the year, and no vacancies for the year. Will the amount in the...

QUOTE (VerticalProperties @ Apr 18 2010, 11:42 PM) So I may be a little biased but we believe we can do property management better than anyone else in winnipeg....Which from my personal experience isnt that hard to do... My partner was an out of town investor who got fleeced for over $50k in...

QUOTE (caglah @ Apr 17 2010, 11:09 AM) You are perfectly right. Once your portofolio is cash flowing very well you should be fine. That is great news and should lessen the gloom and doom behind the original announcement

So if I read this correctly, existing properties PITH are not used for TDSR calculations for new purchases.  Is that correct?  if that is the case, the changes should have little or no impact on investors.  Or am I reading it wrong?

QUOTE (Millions @ Apr 15 2010, 02:47 PM) Hey, This is actually a question im asking for a partner at work. Someone is interested in selling all 3 of their investment properties but dont want to pay tax. I was thinking if they just move around a lot and sell each year, its possible but i dont...

The article below explains the changes to CMHC`s TDSR calculations. Investors should take the time to see how the changes affect them. There is also a few recommendations (and I stress a few) to assist investors in obtaining insured financing going forward...

Pay the couple bucks to keep it as a top ad on kijiji. Typically, I do so for a week and is usually enough time to find a tenant.