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  1. GarthChapman

    Attorneys that do AFS in Calgary

    Try Jim Hassett in Airdrie. Jim is a REIN member and knows his stuff, but does run a very busy real estate practice so I don`t know what his schedule looks like these days. Jim Hassett Warnock Rathgeber & Hassett (403) 948-0009 [email protected] http://www.wrhlaw.ca/ 225 First Ave NW...
  2. GarthChapman

    Don Campbells Estimated Networth.

    Interesting how the most irrelevant and inane topics gets the most reads and replies. We are indeed fascinated by shiny objects and titillation in the extreme.
  3. GarthChapman

    Financial analysis of a triplex - some help needed

    QUOTE (kboughen @ Jul 18 2010, 10:48 AM) Hi Garth, I think you have a typo in your post, owner occupied 3-plexs and 4-plexs require 10% down. Singles and duplexes can be 5% down. For those interested, full CMHC guidelines can be found at...
  4. GarthChapman

    Financial analysis of a triplex - some help needed

    If you live in one of the units you can buy at 5% down. And that`s the only way to buy a rental property in Canada with less than 20% down. If you are just starting out, I can`t think of a better way - except by buying a 4-plex (same rule applies).
  5. GarthChapman

    Evaluating Renovations

    I concur with Hotbunz. The furnace costs are almost double what they would be for mid-efficiency. Compare efficiency ratings and there aren`t that far off, although in new construction they are mandated now. Mid efficiency furnaces cost around $2,200 for a Maytag with 10-year parts and labour...
  6. GarthChapman

    Option lower than owed amount

    Good luck trying to sell it with a 13k Special Assessment looming. There is no profit in this deal at anywhere near those figures.
  7. GarthChapman

    Seller not able to close the transaction

    Normally I would expect you and your lawyer would have examine the title to determine what debts are registered against the house. That won`t tell the whole tale, and if you were buying a FSBO from a distressed seller then you should dig for those amounts owing from the seller and if concerned...
  8. GarthChapman

    Help I`ve lost my cursor

    Import `em from Explorer - I think it asks you when you install if you want to do that, but you were probably still seeing stars...
  9. GarthChapman

    Our Biggest Mistake

    Well done Joey! You demonstrate a tenacious nature and that is an important key to success in this business.
  10. GarthChapman

    Help I`ve lost my cursor

    Cursor works fine in Explorer but is invisible in Firefox. There for it is really tough to reply by including the quote from another poster that you are reply to or referring to. REIN tech guys - help!
  11. GarthChapman

    Alberta Oil and Gas Land Sale March 10

    http://www.theglobeandmail.com/report-on-b...article1497017/ NATHAN VANDERKLIPPE CALGARY — From Thursday`s Globe and Mail Published on Thursday, Mar. 11, 2010 12:00AM EST Last updated on Thursday, Mar. 11, 2010 3:34AM EST Alberta has raised $168-million in its biggest oil and gas land...
  12. GarthChapman

    Olympia Trust - what is your experience with this company?

    Vic, they are a trustee, not a financial advisor. You use them to act as your Trustee for your registered funds (RRSP`s). They are one of the best. Legislation protects you regarding how they behave, but you must make your own investment decisions. If an investment goes sideways, Olympia will...
  13. GarthChapman

    Interest Rate Anticipation

    It would be better to have a Variable Rate Mortgage (VRM) at a rate more like Prime less 0.3%, which is what is widely available. It sounds like you might have an open VRM instead of a closed VRM, and unless it is a short term hold I don`t recommend that product to my clients. The closed VRM...
  14. GarthChapman

    2nd residence rules

    Ben, mortgage fraud is when you say you will do one thing and you really intend to do another. So if you say it is your 2nd home and it is financed as such, and you really use it as a rental property, that is mortgage fraud. The changes due to be effective April 19 include this - "the CMHC...
  15. GarthChapman

    Mountains, Rivers and C-Sections

    Congratulations Wade & Tammy! SO glad to hear all is well. Life is such a gift - your story takes me back in such a nice way...
  16. GarthChapman

    Anyone know a Good Scotiabank mortgage specialist/banker?

    Matthew, at Jencor we do a lot of business with Scotia, and as a result have an excellent and senior Underwriter handling our business. Call or email if I can help.
  17. GarthChapman

    Rent To Own question

    QUOTE (BrianPersaud @ Mar 1 2010, 05:57 PM) I know some that are keeping it as cash, otherwise their properties would not cashflow with the down payments they put on the property. Rental properties must cashflow to make sense unless there are other very significant upsides (like huge equity...
  18. GarthChapman

    How soon can you Refinance a Purchase?

    Michael, I built a good mid-sized Alberta portfolio of rentals using a 2-stage financing model that fits into what you describe. The rules have changed over time but it is still possible if handled properly. Normally I purchased with private money or a LOC, completed renovations and then...
  19. GarthChapman

    Dumb question - commercial property mortgage insurance

    QUOTE (investmart @ Feb 18 2010, 07:30 AM) Thanks Garth. I think about a third of the apartment buildings are sold with a VTB option. that`s a huge number so even if it`s just MacQuarie and M-CAP they must be Big. However, the question is will Flaherty new rule not allow MacQuarie and M-CAP to...
  20. GarthChapman

    Dumb question - commercial property mortgage insurance

    Last time I checked only MacQuarie and M-CAP were allowing VTB`s on rental property purchases. Very rare these days. Hope that helps,
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