QUOTE (invst4profit @ Jun 2 2009, 02:05 PM) In Ontario a landlord must do everything possible to screen tenants. Never bypass the credit check. Although it is not the be all to end all it is a very valuable document in the hands of someone knowledgeable on how to read it. Be very suspicious...

Thanks for your thoughts, Brian. So you don`t use a third-party service, but rely on the REIN questions and other screening techniques? Moe

I`ve seen recommendations on this forum for a few tenant-screening companies (e.g. RentCheckCorp.com, TenCheck) and checked out the fees for each. There seems to be a big difference in the price that each of these companies charges for their services. RentCheckCorp.com charges $50 per search...

QUOTE (Dan_Eisenhauer @ May 24 2009, 01:28 PM) Hi Moe; In layman`s language... and I certainly fall into that category when it comes to taxes... if you own the properties in your own names, you take the income derived from those properties into your own income, using whatever the form # is to...

The tax implications of investment properties is something I would like to learn more about (my wife and I recently purchased our first property, and are actively looking for our second). We`ve purchased our property as individuals (i.e. not through a corporation). I`m a salaried employee, my...

Good advice - thanks a lot. Moe

My wife and I are looking for the most cost-effective (i.e. cheap) appliances for our first rental. We`re looking for a brand/model that has the best durability for the price. Can anyone suggest a good make of washer/dryer, fridge, and/or stove? Thanks a lot, Moe P.S. The unit we`re...

That`s great - thanks a lot! Moe

QUOTE (invst4profit @ Apr 30 2009, 05:57 PM) It`s good to know your rights but waving them in my face as a threat is not a good way to start a relationship. Ha! Thanks a lot for the tips everyone. CLW, an autoresponder is an awesome idea. Would you mind sharing the 7 questions you ask...

We just placed an ad for a tenant for our first investment property, and I`m wondering if anyone has suggestions for things we absolutely must do to screen applicants. I find that when people reply to the Kijiji/Craigslist ad, they usually just say something like "I`d like to see the apartment...

QUOTE (vandriani @ Apr 30 2009, 08:12 AM) I think it is a great idea but I would do the following: 1. Become an expert within the area 2. Confirm that the area works well within the economic fundamentals you follow. 3. Find and purchase a property 4. Rent out the property to great tenants...

Thanks for your insight, Brett. Good point about the current environment and the behaviour of sellers. Moe

My wife and I are focussing on a particular area of downtown Ottawa to buy properties. I recently took my six-year-old son for a walk-about (as the Aussies call it) down one street to get a feel for the type and quality of properties. What`s interesting about this street is that while most...

QUOTE (EricBurgin @ Apr 27 2009, 11:52 AM) Moe: I may be a bit late to weigh in on this one as you have already made your decision, but I would be pleased to offer you my professional services in your search for duplexes that are geared towards working professionals. I live, work and invest...

QUOTE (thomasbeyer2000 @ Apr 24 2009, 09:26 AM) I think 25 year amortization MUST be your goal as a RE investor !! Why: in 5 years rates WILL BE higher .. (certainly higher than today`s prime - X %) and with a 25 year amortization you pay down 10% of the mortgage in the first 5 years .. buying...

Thanks for the dissenting opinion, Adam. I appreciate your advice. We`ve decided to pass on the deal, regardless. Our concern is potential exit strategies. Due to where it`s located, it`s hard to imagine how we could sell this property to anyone but an investor. The strategy we started out...

Most of what I`ve learned has come from having a friend who`s an experienced investor, and from buying my first rental property. You`ll inevitably make mistakes with your first purchase, but it`s the best way to learn (just make sure to learn as much as you can from this forum before buying, so...

Brutally honest feedback is what I asked for...and that`s what I got! Thanks very much for all of the thoughtful comments. I`ve been feeling uncomfortable all along about the price tag and the amount of maintenance this would require...and everyone has added many more good points to think...

Fortuneinvesting, thanks for correcting my numbers. I also get a similar cash flow estimate. Ken15, good point about confirming zoning - but does a property have to be explicitly zoned for students? I know that getting insurance can be an issue. Greg, answers to your questions: (1) Total cost...

My wife and I are considering putting an offer on a property that is only a few blocks from our home and that I`ve estimated will generate positive cash flow once all expenses are in. But we`re of two minds about the property, and would appreciate some advice. I`ve seen myREINspace members...