QUOTE (housingrental @ Apr 13 2010, 09:32 AM) Has anyone else been scratching their heads the last week reading posts from julieCEO? The grammar hurts my eyes

Sometimes it is due to the fact that they have a favourable rate that the buyer might want to take advantage of. If the buyer has a sufficient downpayment, they won`t need a 2nd mortgage.

If it is a secured LOC and your debt servicing allows for it, you can use it for a down payment. I have done it a number of times.

QUOTE (dsmandato @ Apr 10 2010, 10:02 PM) Hard to tell without knowing what condition the property is in. Assuming it is in good condition and no immediate repair or large capital expenses, you are still missing a few items in your calculations aside from property insurance and vacancies...

QUOTE (MonteDobson @ Apr 11 2010, 10:58 AM) When calculating net positive cashflow, you must include ALL expenses. We also factor in 10% (of gross rents) for Repairs/Maintenance/Vacancy and 10% for Property Mgt (even if you are self-managing). While these are not considered CASH expenses...

QUOTE (Trizzy @ Apr 11 2010, 10:09 AM) The rents acquired justify the all inclusive status. It is cashflowing the way it is. I could add seperate meters, however then the rents are no longer justified, and I would likely lose the tenants already in place. Not to mention the bill for...

QUOTE (Trizzy @ Apr 11 2010, 09:41 AM) Now I just stumbled upon a similar deal.Triplex, downtown core of Kitchener. Monthly income: $2,360.00 Yearly gross income: $28,330.00 Yearly expenses: Taxes ($2,800.00) + Hydro, Gas & Insurance ($4800.00) = $7,600.00 Gross income - expenses = $20,730.00...

QUOTE (surfermoe @ Apr 7 2010, 03:43 PM) Just checked with my wife. We did state in the lease that they`re responsible for reimbursing us for utilities. I guess that means we have legal grounds to oust them? If that is the case, why didn`t you put the utilities in their name in the first place?

QUOTE (Pabs @ Apr 6 2010, 03:59 PM) We have around 20,000 for the down payment so that`s why 65% LTV might not be an option. Our income is not that "decent" right now, however our TDS is looking really good since we don`t have any debts. Right now we are working with a mortgage agent that...

QUOTE (retiredby50 @ Mar 30 2010, 08:32 AM) I`ve renovated the place from scratch and on the one hand, if I provide them I know there isn`t going to be tin foil or the Rebel flag in the windows. On the other hand people may want to bring their own. Thoughts? Thanks Keith Cheap blinds at...

I tend to agree with Greg and Sherrilyn on this one. You have to keep a safe distance between your business and private life. I certainly have a good relationship with my tenants, but I just wouldnt feel comfortable with granting them that type of access to me. Facebook is a good screening...

Sorry I couldnt make it guys.  I was out of the country on short notice.  Would love to attend one of these in the future.  Please keep us posted.

QUOTE (2ndstory @ Mar 19 2010, 02:47 PM) Hmm. Maybe I should buy it. What area of the city is it in? Nik In the Inkster area.  you`ll see it on MLS by Monday

QUOTE (2ndstory @ Mar 19 2010, 10:59 AM) Other investors will most likely not one to pay that extra 40% you are hoping to get in cash that the bank will lend you. Nik Cap rates would say otherwise. but I guess we will see.

QUOTE (ThomasBeyer @ Mar 19 2010, 11:33 AM) selling a triplex will take more than 2 months anyway . assume that any new buyer will put down 20% minimum .. sell if it fits your personal goals .. keep if it cash-flows enough to allow holding .. selling means: work, paying taxes, paying realtor...

QUOTE (RussellMcNair @ Mar 17 2010, 11:28 AM) Calling all real estate investors in Winnipeg. I`m having a meeting for anyone that is interested on March 23rd at 7:30. This will be an intro meeting to discuss what peoples needs and interests are. If you are interested please call me to receive...

Just wondering if anyone is selling their properties to beat the deadline for the changes to CMHC financing. This would apply to SFD, duplexes, and threeplexes mostly. I have a three plex that has probably appreciated about 40% that I`m thinking of selling. It cashflows fine, but I am...

Check this out!

QUOTE (Sherilynn @ Mar 12 2010, 01:54 PM) Greetings. In one of my many recent visits to the RTDRS (Alberta), the adjudicator informed me of a valuable tool to help avoid professional tenants. When he operated his 400 units, he would go to the Court House and search for any judgments against the...

QUOTE (Cargren @ Mar 12 2010, 02:56 PM) We set up automatic withdrawal for each tenant. Most banks have their own form and some will even let you make your own, as long as it has certain info that they require. Talk to your bank about this. The rent gets drawn from the tenants account directly...