Thank you for your input Peter. Believe it or not, in my recent purchase, the seller`s agent actually requested to EXTEND condition removal date! They gave me a total of 20 days to removal all conditions!! Talking about professionalism. She couldn`t provide me all the condo document that I...

QUOTE (smack123 @ Sep 26 2008, 10:25 PM) Apologies - I live in Nanaimo, BC, and my revenue property is located in Fort Saskatchewan, AB It depends on the type of contract that the current tenants signed. Usually the tenants need 3 months notice. But it really depends on what your market...

QUOTE (JohnS @ Sep 26 2008, 01:11 PM) I think the problem here, patbb, is that most of us on here (at least the REIN members) do have experience/knowledge about investing in stocks and mutual funds, and we realize why real estate is generally a better investment. Not only does it have the...

QUOTE (DonCampbell @ Sep 24 2008, 12:18 PM) Thanks for the insights. YES, properly negotiating, and legalizing a VTB has a number of clear steps. We presented this a couple of years ago, I guess it is time to freshen it up and bring it out again. Keep the Suggestions Coming! This would be...

QUOTE (C2Ventures @ Sep 24 2008, 02:11 PM) Hi Lucas, Yes it is generally harder to rent properties in the cold of winter. People tend to "hunker down" and their desire to move/relocate decreases when it`s minus 30 outside. On another note, winter provides a great time for rental increases do to...

QUOTE (GarthChapman @ Sep 22 2008, 07:31 AM) Many governments are already selling off US Dollars, and are holding other currencies in their reserves instead of USD. Read The Trillion Dollar Meltdown, by Charles R. Morris and you will understand more of the `rest of the story`. I will check it...

QUOTE (GarthChapman @ Sep 21 2008, 07:48 PM) 1932 — The Hoover administration creates the Reconstruction Finance Corp. to facilitate economic activity by lending money in the Great Depression.1933 — The Roosevelt administration creates the Home Owners` Loan Corp. to buy $3-billion (U.S.) in bad...

Amazing achievement! Now I need to go check out MLS. LOL Need to work on my 3rd deal! Congratz! Tommy

Congratulations Donna! I am getting closed to get my 2nd property. I am now looking at my 3rd one and with help of my brother who can assist me in qualifying a mortgage! Great to hear success stories! Tommy

QUOTE (dwb @ Sep 19 2008, 08:26 AM) When the stock market crashes and the stock market is volatile, the appeal/demand for real estate investing increases! For at least a couple of reasons:1) Volatility Scares Investors: A dollar invested in the stock market is a dollar not invested in real...

QUOTE (EdmInvestor @ Sep 16 2008, 07:56 AM) Hello fellow investors, A partner and I tied up a 4 suite building in Edmonton. We are working with a good investor minded mortgage broker for financing. We originally wanted to do 5% down, however, the lender is requesting 10%. We currently have...

It is interesting you brought this up Thomas. I have a personal "unsecured" LOC that I set up in 2006. The limit is $30K at prime + 2%. I just recently received a letter from TD Bank that they are increasing the interest to prime + 3%!! There`s definitely some tightening and increasing...

QUOTE (housingrental @ Sep 15 2008, 08:55 AM) Generally good for graduate students - Their likely to leave after 1 year of renting - You`re likely to collect rent. Mmmmm... I get the feeling too especially all 3 of them are from out of town. They probably won`t stay long.. would like someone...

Hi fellow REIN members! As some of you know, I am soon to be the first time landlord. Very excited, indeed! I am already getting some inquiries for my investment townhouse in Edmonton. My question is I am getting an inquiry of 3 graduate students who are coming from Vancouver to Edmonton...

Thank you Garth. I will look into the condo and get the PM to give me a copy of insurance details.

Hi fellow REIN members! I am getting close to get my first investment townhouse. I want to plan ahead so I can have an accurate picture of my true cash flow. Since this is a condo purchaser, the condo fee includes exterior/fire insurance. I have been told that I should get "rental loss"...

QUOTE (CanadianMortgageTeam @ Sep 9 2008, 12:42 PM) Its a standard lender policy for obvious reasons - appraisers apply a calculation based on the age and type of the property to determine the remaining economic life - the lenders amoritization will be 5 years less the life. Since the 35 year is...

Hi fellow REIN, I just spoke to my TD broker and she told me that the max amortization that is allowed on the rental property is based on the appraisal. Say I am looking at 30-year-old townhouses. If the appraiser only estimates 20 year life-span of the building, then I can only get 20 year...

Thank you Thomas and Manj! I will check out Alberta`s rental form. Another question: The property class I am going after is townhouse. The exterior maintenance is covered by condo fees. Do I still need to get insurance to cover interior? I heard there`s rental loss insurance and content...

Awesome. REIN rocks! I am definitely going to check credit to make sure they are financially responsible. I truly believe that those who don`t pay their bills will repeat that in the future (ie: delaying rent payment!). Another question: what rental contract do you use? One that is for...