Good points Thomas. However, how about dividing the total profit by the hundreds of work hours spent in 10 years? This will tell you the 'per hour profit'. Then maybe compare it to any alternative hourly income you want (lawyer, engineer, etc.). Should really be a 'hybrid perspective' as...

Hi Everyone, A banker I know suggested arranging a home equity line of credit based on the value in one of the properties. Do you need to involve a lawyer if approved in this case where the bank is interested and initiates the process? I understand for a re-finance of a Plex involving a...

Thanks for the feedback Thomas.

Thanks for the feedback! However, if I recall correctly, just as an example the commitment he got says you simply can not transfer mortgage early - no option to even pay penalty! In other words you must stay with them until the end of the 3 years term (only exception is if you sell). Things...

Hi All, My friend has a unique financing situation and was only approved by Home Trust. Their interest is higher but this was expected. The other thing he noticed is they charge more for different items - for example around $500 on renewal (most banks do not charge for that after being...

Do other investors also find there are less seller VTB options available than in the past, in different Ontario cities? if yes, what do you think is the main reason? Cheers.

Good point! Always something to learn from Mr. Beyer.

Hi Adam, can you please elaborate. Thanks.

Thanks Thomas and moparcanuck!

Hi All, Another mortgage question from me. Example: - An investor purchased a property under a corporation of which he owns 100% of the shares. - The corporation is on title and investor's name on mortgage. - The investor gave the corporation a loan in the amount of $100K (for...

When was the property purchased and what is the current mortgage balance? assuming balance is around 0.95 * 275K = ~261K. Depending on your situation, if you rent it out and have employment income, you might be able to re-fi it up to 80% = ~380K * 0.8 = around 304K. so equity take out of...

Hi, Small question: a friend had an appraisal done on a plex recently. His name is on the mortgage and his corp. is on title. The appraiser asked my friend if he wants the cover page of the appraisal to show` For: company name" OR "For: my friend`s name". I guess it doesn`t matter. still...

Hi All, A question for REIN members: when applying to refinance an existing mortgage based on a new increased appraised value, do you provide the bank with your complete Investor`s Binder like when applying for a new mortgage or do you just fill their standard application form since it is the...

Hi All, I'm viewing a Plex and there was a fire at the house 3 years ago. As a result of the fire the top half - 2 apartments, had to be rebuilt and these apartments are completely new now. (the bottom half is around 50 years old) What are the main things to look for/check in a house like...

Hi all, this post reminds me of previous posts where people try to convince others that blue is more beautiful than green. Thomas et al, there is no `right down payment %`. if there is one tell us what it is (20%?) and prove to us that 19% or 21% is just wrong J A more risky investment is not...

just refreshing for Adam et al. :-) :-)

Hi All, What CAP rate is considered good in Brantford, Ontario for a 4-plex and 10-plex in an ok area? 7%, 8% or 9%? THANKS.

Thanks John, so if a corporation (employer) pays an employee say 40K salary, then both the employee and the corporation (employer) pay cpp around $2,000 each? Regards, N.