It is really unfortunate due to his business activities he was sued for lots of dough and declared personal bankruptcy and was able to save his house. After negotiating that minefield he gets the notice that the mortgage company is not renewing because they are leaving the country. Apparently...

I have a friend who bought a house in Ajax a few years ago. Yesterday he came over and was telling me about his woes. He is self employed and got a mortgage at about 5%. He got a letter saying that his mortgage is not being renewed. The lender is from the States and they are no longer going to...

Thanks for all who commented. Even though I have seen a lot of people who neglect their property, this one even boggled my mind. Great flip property. It`s truly amazing how they built to last. The structure still seems good. They wouldn`t let us in one unit and there was an area of concern...

QUOTE (investmart @ May 1 2010, 06:42 PM) Thank you very much Greg and Carrie! I actually heard about April from another PM that she is the best in the area as you mentioned. What in general is a reasonable and most common paralegal service fee structure - by hour/case/day? For example, is the...

Here`s a few more tricks. In some properties/areas it will be next to impossible to get people with great credit to rent your place within the timeframe in which you are prepared to accept vacancy loss. The optimum would be to have great credit. Here`s what I look for.... Look at the...

QUOTE (invst4profit @ May 1 2010, 04:53 AM) Working with municipal governments, as we all know, can be slow, tedious, frustrating and expensive. The most likely reason the two lots were combined was because the city would not permit construction on the vacant portion. It is unlikely you have...

QUOTE (Sherilynn @ Apr 30 2010, 08:38 AM) Personally, I wouldn`t buy anything that "might" cashflow. You are considering a property that requires a huge down payment, and then another huge chunk of change to fix it. After repairs, you should see an increase in value, but that only helps you...

Real estate is not a registered charity. It is a business and to keep your business healthy you have to prune the deadwood. By getting rid of tenants that don`t pay you continue to provide housing and services to the good tenants. If you allowed all the people who can`t pay rent to live in...

So I went to see a property yesterday as a potential investment. It is in the Toronto area. It has been very badly maintained. The area is very good. The more interesting thing about it is that it already has 2 addresses as well as a lot beside the building. I was told that it was merged by...

QUOTE (dianab @ Apr 28 2010, 10:00 AM) Thanks. I`ll take a look into this for sure. It can`t hurt. Free www.craigslist.org

I seriously doubt your realtor`s conjecture of 20% property appreciation. When you start getting into properties like this 4 plex people care about the ROI so increases on the value will be based on increases in income. IMHO no one will buy your 4 plex for 20%more than you paid if it isn`t...

I`m not surprised.... haven`t you known people who break up and get back together on a regular basis? QUOTE (TonyMiller @ Apr 28 2010, 04:52 PM) Yes, I collected the deposit. I was floored today when they told me they will move in and stay until they find someone acceptable to replace them...

As someone who has worked in property management for a while, I can tell you this. Generally I try to avoid evicting anyone. It`s unpleasant and I don`t know anyone who thinks evicting people is fun. It is however a necessary part of the landlord business just like arresting shoplifters is...

Didn`t you collect first and last before the lease signing? Or at least a deposit of some kind? The period of time before the tenants move in is a grey area. The Landlord and Tenant Board has no jurisdiction over tenants before they move in and after they move out. You could potentially try...

QUOTE (sandisoz8 @ Apr 25 2010, 04:46 PM) Do most landlords allow tenants to hang things on the walls? And if you do, what are the rules that they have to follow when leaving etc.? In Ontario this would be considered normal wear and tear. When they leave the holes stay there. If you are really...