QUOTE (terri @ Sep 19 2008, 09:45 PM) I asked my mortgage broker if any of his clients were having problems with loc`s being reduced and he said no, he`s not heard about this from his cleints (based in Ontario) wonder if this problem if banks recalling LOC`s is more predominant in the west than...

QUOTE (GarthChapman @ Sep 17 2008, 10:29 PM) This is Garth - not Thomas, but here is my take on this- The bank can call your loan if it is a line of credit, as it is an open `due-on-demand` credit facility. When banks get nervous, and when there is a scarcity of capital, they have been known...

QUOTE (thomasbeyer2000 @ Sep 17 2008, 08:24 PM) absolutely .. especially UNsecured ones ! If you need the cash .. access the LOC NOW .. and invest in a money market fund @ 3.5% .. so a prime - 3.5% = 1.25% cost !! Thank you Thomas for your very helpful advices as always. I still have a...

QUOTE (LeighF @ Sep 17 2008, 07:14 PM) Could they touch unsecured LOC's that are already in place? I have the same question. I have secured and unsecured lines of credit, as some of them are fully some partially and some not used at all. What could I expect, since that's my remaining buffer...

Not doing properly my DUE DILIGENCE had cost me a LOT! Great point!

QUOTE (onomeomene @ Aug 22 2008, 10:02 AM) Hello, I must start off by saying this is a wonderful forum and I can`t wait to become a REIN member. Actually one of the main reasons I am moving to AB is so that I can attend REIN meeting regularly. Alright, I need some help. Due to some actions...

Thanks Kevin!

Hi everybody! I need some help if anyone could explain to me how "rent-to-own" option actually works. I`ve heard for term but I don`t know how it functions. I know somebody might be surprised at this basic terms that I don`t know, but for me as a novice investor and having it hard to sell "dog...

Hi there, As someone mentioned here I am affraid your expenses haven`t been calculated to the full extent, for positive cash flow. Beware of maintanance, vacancies esp., property management, or ads (if you manage yourself), etc. I found myself in lots of trouble when I had few vacancies and it...

Thanks

Hello everyone! I have recently came across bump when I tried to get insurance for to be purchased VACANT property in Regina, so I can close the deal. Main obstacle is that I am out of province, so not having supporting business, and that property is vacant at the moment. Seems that no one is...

Fortunately for me, I did sell my condo through Comfree last September when slowdown in Edmoton`s market already happened. Out of total 9 visits, 2 were competing with offers. I think if you make proper presentation, RIGHT price and give your best, esp. in first few weeks, you are on the right...

Hello, everyone! There`s been lots of talk about investing in the U.S., and how good market is now and probably will be better for Canadians. Does anyone know by personal experience if ownership of the property there gives you additional status in the States but visitor? I know that you are...

QUOTE (thomasbeyer2000 @ Jan 21 2008, 06:17 PM) We are contemplating buying a multi-family asset in Sudbury Ontario. Is this a happenin` place ? Is the nickel mine productive and growing ? Is there anything of concern here ? Any other comments .. pro`s .. con`s .. in-migration .. job growth ...

Obviously with great appreciations going through Western Canada in recent years and cap rates going down, there was no option for me but to look more towards eastern Canada, since I was ready not to give much for downpayments. That`s if you look for good cash flows and not ready to put much in...

QUOTE (samcansam @ Jan 8 2008, 09:13 PM) Another angle you may want to look at it: The LOC would appear on your credit report, hence it will lower your credit score and may impact your ability to get other loans. I`m telling this from a practical experience as I had to switch from LOC to...

QUOTE (invst4profit @ Dec 21 2007, 08:44 AM) Not a direct response to your question but I am curious. Would you not view this appraisal as an opportunity to go back to the seller and attempt to renegotiate the deal. Assuming you have the "conditional on financing" clause in your offer. Or you...

In my conversation with Equifax, I was told that if there was multiple inquiries for "mortgage shopping", for example, within 2 weeks that is accounted as one inquiry. However, only THEY know what they are doing I guess.

Thank you both, I appreciate. Dejan