I was informed by a rather bureaucratic city of Calgary Bylaw Officer a couple of years ago that the Calgary has a Bylaw requiring that a garage on a residential property can only be rented to the tenants of the house. Yes, bizarre. But that`s Calgary`s style in this area. I wouldn`t respond to...

15) Not doing every aspect of Property Management yourself in the early going, and thereby not learning what is truly important, how to deal with problems, and how to treat your tenants to develop positve relationships.

The issue- each person or their corporate marginal tax rate is different, depending on income and province, not to mention previous years` income or capital tax losses that can come into the equation. My suggestion- take the returns generated by whatever method or software you use, and simply...

It largely means that they are expected to be sophisticated enough to make investment decisions. Perhaps less obligation for you...

QUOTE (C2Ventures @ May 21 2009, 07:59 PM) Make sure you dig into these types of investments very closely. Some will purchase the land for "X", then "lift" the value sometimes as much as 200-300% and sell it to investors for "Y", so they make all of their money upfront regardless of the final...

QUOTE (Goodstuff @ May 21 2009, 08:05 PM) By the way, he is the tenant. I know that for sure. Good stuff, Goodstuff Sorry, had to do it

They performed well for many years during times of rapid growth in the cities they were active in. Land banking is a play on growth of cities in the perimeters. It is important for you to do your due diligence - find out how their model works. How do they pay for the land purchased - who funds...

Methinks now is not the best time to be in land banking or land development. I`d want some time to pass and for the market to soak up the existing product first.

Some random thoughts - In Alberta tenants have the right to the peaceful enjoyment of their property. You can act here to evict a tenant who deprives another tenant or the landlord of same. I wonder how that might apply in this case? Don`t know what province you are in... You need to find...

QUOTE (felicia0079 @ May 21 2009, 01:18 AM) "Bang on our forehead" Totally makes sense to me. I`ve been searching for a way to systematically value a property but none of my realtors ever told me things like this. This view echoes an article that I believe I read on Money magazine: stocks...

QUOTE (eastender @ May 20 2009, 07:26 PM) Hmmm...ok. Let me add more info to the equation... 12 units - 11 1bdrm 1 bach. Offering price: $631250 Annual revenue: $82434 (includes rent, coin-op laundry,parking and vacancy) Annual operating expenses: $44012 (including city taxes $18275 and...

QUOTE (Thembi @ May 7 2009, 02:00 AM) I would like to thank everyone for their support and encouragement from the time i joined REIN(august 2008) until now.I had no idea how i was going to buy a rental property and i just felt like joining rein was just a waste of time then.However with the...

Good plan. I used the same many times over several years to good results. Remember that some lenders are once again (as they were until a few years ago) not financing equity take-out mortgages on properties that you have held for less than 1 year - so not to close the door but be aware that your...

Have all the conditions been removed by the Buyer - and on time? If they have then you have a firm sale and are obligated to close the sale. If not then get to your lawyer to ensure you act to void the deal as may be required, depending on your Province and on the contract wording.

QUOTE (RedlineBrett @ May 20 2009, 01:41 PM) Garth if you don`t mind my asking - what are your thoughts regarding the value of the US dollar going ahead say 12 months? Anyone else care to toss out their theories? Given what the experts are saying and how much money they are printing, and the...

Indeed... All the money being printed, particularly in the USA, ought to create high inflation, which in the longer run will be beneficial to investment property owners.

Beware reading too much into this statistic as gasoline prices were at a peak last year. Take gasoline out of the equation and we still have a small (and healthy) underlying inflation rate.

Title insurance does not protect against known defects. You should always get a RPR (Survey) with a Compliance Stamp from the municipality. Always. You can also buy Title Insurance as it protects against other issues that the Survey will not cover you for.

QUOTE (Architectus @ May 1 2009, 10:46 PM) Do you know any good private lenders in Calgary? Thanks! I do, and have money invested with them. Send me an email with some details on what you are seeking.

If handled personally you are taxed at your marginal rate (next dollar of income).