Thanks Adam and Larry. I'm assuming your answer would be the same if instead of replacing electric heaters with furnace I asked about installing a boiler as the last is even more expensive to install. Regards, N.

Hello, Any recommended website where you can plug in the salary and it calculates the cpp you have to pay as an employer? no worries, I need it just as an estimate. The final numbers will go through an accountant :) THANKS.

Hi Everyone, How much approximately does it cost to replace electric baseboard heaters with a furnace in a building? Any estimate for the cost to do so in a 4-plex? same question for a long 10-plex with 2 floors? THANKS.

Thank you everyone for the information! Regards, Neil

Hi All, Some basic accounting questions: When a corporation pays its employees income, does the corp. also have to pay the government cpp? also EI? Does it have to be paid by mid January 2011 (if not paid already of course) for any income the corp. has paid in 2010? Are any of the...

QUOTE (NawarNaji @ Dec 16 2010, 06:39 PM) Hello, Collateral is revolving, i.e. you can access the monies continuously. A good example is a line of credit, where you can borrow, pay it down then access up the full limit again. Typically, mortgages are registered as a charge where as you pay...

What is the difference between registering the mortgage as `collateral` and registering the mortgage as `charge`? Thanks.

what is the legal fee for re-fi compared to a new purchase? assuming an average lawyer charges $1000 legal fee per purchase transaction, does the `average` lawyer charges the same for re-fi (around $1000), less (~$500) or more (~1,500)? THANKS.

Wade is 100% correct! ALL the properties I purcahsed, were purchased in the winter.

QUOTE (WadeFenner @ Dec 8 2010, 09:11 PM) Your opinion is well respected but I`m happy to test - set the bar high and see who shows up. I only need one good applicant. Hi Wade, Brett is correct! If you leave it as it is then even if you get one or two resumes what is the chance they will be...

QUOTE (RealtorAssist @ Dec 3 2010, 05:25 PM) I have 4 triplex`s in the ghettos of Winnipeg...The buildings I worked on are all 100 years old +. Hi Robert, Nice work! Considering the age of your plexes (100+), do you plan to sell some of them soon OR are you actually into long term hold (5-10...

Hilarious. In the third millennium mentioning "very demanding boss" might not bring you the number of applicants from which you want to choose. pls try not to use the word boss again for example. cheers.

QUOTE (Berubeland @ Dec 3 2010, 12:15 PM) I was working for an investor who did this with his building in Brampton. This can be very profitable for the patient investor, he has been working this plan for 5 years. The biggest problem is the city. They make it really hard. In Toronto anything 5...

QUOTE (ThomasBeyer @ Dec 3 2010, 03:41 PM) Not neccesarily IF the plan is to sell all assets at once or the mortgage can be partially discharged or if the interest rate is really low !! yes, I guess the option to have it "partially discharged" is key! Thanks! Regarding the plan to sell all...

QUOTE (ThomasBeyer @ Dec 3 2010, 11:42 AM) .. you lose flexibility when selling assets. Thank you Thomas. You mentioned you lose flexibility. More specifically, isn`t there a serious refinancing risk!? this is not just about losing flexibility. I can think of different scenarios where owners...

Hi All, A friend of mine has 4 properties under the same corporation. A mortgage broker offered him a 250K loan or LOC based on the equity he has in his buildings and replacing the mortgages he has with different banks, with one larger loan. The loan is apparently based on some government...

QUOTE (ThomasBeyer @ Nov 29 2010, 06:00 PM) did you count all R&M expenses and property management fees ? of course, I learned it from you Thomas, in case you forgot , and from Don, in addition to other superb time-saving expense guestimates like the 50% rule I also learned from you and...

QUOTE (ThomasBeyer @ Nov 28 2010, 11:13 PM) not my 12 year experience ! How many plexes 4 units or less have you purchased in the last 3 yrs? correct me if I`m wrong, you buy much bigger apartment buildings. Different property types perform differently. Regardless, as explained, a property that...

QUOTE (ThomasBeyer @ Nov 26 2010, 12:45 AM) banks may lend 80% .. 90% is too high a leverage for cash-flow most likely ! Hi Thomas, small math correction: when buying a property under 200K the difference in the monthly mortgage payment between 80% loan and 90% is only around $50!! so as long...

Hi Afshin,It should be "Helping investors find (not finding) their gold mine for the west of Toronto". You`re welcome, N.