The `guest` is not on the lease, so, in Alberta, you can evict him with very short notice in writing (I think it is 48 hours - but look it up in the Alberta LTA). So you can be the bad guy and let your tenant off that hook, and that would make this easier for him to support you on as a result -...

QUOTE (Pheenix @ Sep 20 2010, 05:35 AM) The principle problem is not left or right but the notion of responsibility. There is societal disconnect between action and consequence. The nail has been hit precisely on the head!

I my Calgary case, it was an auction. It went to the highest bidder - and happily that was us! I think this is normally the case, and perhaps so due to redemption rights of property owners in Canada generally.

Maybe you can do both (although 70k seems very high to build a basement suite (and we have built a few). Build the suite in your home and then refinance your home with the vaue added meaning you should be able to finance 70-80% of the cost at least. Then use what is remaining, almost all of...

QUOTE (EdRenkema @ Sep 19 2010, 07:02 PM) I do know what I am missing - I was born at night it just wasn`t last night My MPP is Tim Hudak, next time I see him I`m going to call him `Mr. Premier elect` Sadly tho you are correct: all levels of gov`t in Ontario are far too pervasive in the...

QUOTE (MooseHead @ Sep 19 2010, 08:06 PM) The one thing I`m not grasping from this (and I`m sure it isn`t complicated) is how does a re-advanceable mortgage turn your personal residence mortgage from a non-deductible debt to a deductible debt? I understand that interest paid on a mortgage or...

Assuming you believe there is not a large appreciation upside to come, sell it by either method and re-invest the capital returned in a more efficient asset. A LTO offers probably a higher price and lower costs of sale. What was your net return after the 5 years since you purchased it, and...

Don`t miss the last paragraph... http://www.theglobeandmail.com/report-on-b...article1712854/ Derek DeCloet Land of the free, home of the tightwad One of the most enduring changes wrought by the recession is how once free-spending Americans have changed their ways. The most important thing...

We have a couple of the CIBC Matrix mortgages and several Scotia Step mortgages. Much prefer the Step as they offer more options, and generally Scotia has been more investor friendly over the last 3+ years. Note that Scotia will also register the Step Mortgage at the full appraised value of...

QUOTE (EdRenkema @ Sep 18 2010, 07:55 PM) In Ontario the real solution to the problem is another provincial gov`t! Indeed, but this would first require voters in Ontario to change their expectations and what they are prepared to accept from their gov`t, and what they are prepared to do about...

I bought an empty lot in a developed area of Calgary at a Tax Sales auction in Calgary in about 2005. When speaking with a person at City Hall later to arrange payment and such I was told it was the first one that had actually sold in several years. It seems many land owners get to the brink...

http://www.investopedia.com/articles/mortg...e-investors.asp http://www.theglobeandmail.com/globe-inves...article1705967/ Jean Folger Investopedia.com Published on Tuesday, Sep. 14, 2010 6:00AM EDT Last updated on Wednesday, Sep. 15, 2010 7:16PM EDT Real estate has long been regarded...

The `same financing` assumption is only valid if the commercial space is less than 20% of the total rentable space in the building (and a few other criteria re location, quality of commercial tenat requirements, etc but let`s ignore those). If over 20% of the total space then a CMHC insured...

QUOTE (EdRenkema @ Sep 14 2010, 08:03 PM) I read that same article today as well and I couldn`t help but think: Doesn`t Warren Buffet have a stake in the short term success of the US economy? Or, doesn`t s/th Warren say have an effect on the market per se? To the second point - I have immense...

Best thread in the last 6 months...hoping it keeps going. JDaley, to help us understand your thinking - what is your background, training, education?

On April 19th of this year the Federal Gov`t lowered the ceiling on how many single family properties one can buy, and made it tougher to finance those you can buy, or refinance. So it`s really pretty simple, commercial and multi-family properties are what one can buy without worrying about...

QUOTE (JDaley @ Sep 14 2010, 05:13 PM) Given the lack of specifics in your message, I can only respond by saying I don`t agree. I think Thomas is saying there is not a Canadian Real Estate market, but rather there are many individual markets, some of which are performing very well and have good...

QUOTE (bizaro86 @ Sep 14 2010, 08:16 AM) This is certainly true, but the causation is backwards from this sentence. People who make bad financial decisions become poor people. They stay poor people, because they continue to make bad financial decisions. If they started making good financial...

Should be mandatory reading for anyone thinking of buying in the States.

QUOTE (RandyBett @ Jul 28 2010, 05:54 AM) Based on a conversation yesterday (with a Calgary Mortgage Broker and a Former President of the Alberta Mortgage Brokers Association) and a review of CMHC`s applied policy/rules it appears that the upfront option fee/monthly option credits must be 100%...