QUOTE (dwb @ Mar 10 2010, 12:14 PM) Does anyone have any experience with hiring contractors to lower the basement floor (via jackhammers) to allow the basement of a rental building to be renovated (and thus rented for extra income)? Any feedback would be appreciated, just trying to get an idea...

Any Ft Mac investors?

Well my wife and I have received offers to move to Ft Mac which would be difficult to say no too. So now I have a few questions for you guys. 1, Is the market in Ft Mac stable enough to buy a house? 2, Would you recommend buying a house as a PR and renting the basement ($550K $1800 rent) vs...

QUOTE (RCrein @ Feb 28 2010, 11:40 AM) You can always screw a bracket or block in to keep the door closed or you could use the same solution to allow the door to be opened less than 4 inches to allow breeze. Most building codes set the distance between railing ballasters to prevent kids getting...

QUOTE (CaesarPua @ Mar 2 2010, 08:52 AM) I`m in the process of doing the same...On a related note, how much would it approximately cost to have a 10` x 10` kitchen installed by professional installers? On the IKEA website, $2580 is the cabinet price "based on a typical 10`x10` kitchen."...

I tried this in the General Section but maybe I can get a response. Has anyone on here used Ikea Cabinets? Would they be good for a rental property? How about using them in your PR?

Has anyone on here used Ikea Cabinets? Would they be good for a rental property? How about using them in your PR?

QUOTE (MikeMcC874 @ Feb 25 2010, 02:51 PM) You can write off 30% of the interest expense. Period. The attribution of value to land vs. building only comes into play for CCA (depreciation for the elderly ). Simplified Example: Purchase a duplex for 225,000, 25,000 down, 200,000...

QUOTE (Tootse @ Feb 25 2010, 01:52 PM) Comments posted so far are great. I am in the same situation. My suite takes 30% of my floor space. Therefore 30% of my mortgage interest is tax deductible, as well as 30% of my house insurance and 30% of my property taxes. I claim the full rent amount...

QUOTE (ThomasBeyer @ Feb 25 2010, 11:33 AM) Congratulations ! You made 20K tax free (until sold) by improving your networth ! Where is the problem ? You also usually depreciate the asset by 4% annually (excl. land) so usually you pay no taxes while you hold either, unless you are very lowly...

QUOTE (HeatherBrandt @ Feb 25 2010, 11:18 AM) The tenant has to receive a benefit from any expenses claimed. You must also decide if the expense is maintenance or an upgrade (ie current expense or capital). Your best best to start is to go to a tax office or online and get the booklet from...

QUOTE (HeatherBrandt @ Feb 25 2010, 10:25 AM) Figure out the percentage of floor space of the suite and the common area (ie-laundry, storage) that the tenant has access to as compared to the total floor space of your house. This is the percentage of mortgage interest you can write off. Don't...

I was wondering when you rent out the basement suite in your primary residence how do you calculate how much money you should be paying taxes on? Can you use 1/2 your mortgage payment as a write off? I want to become a LL so I am sorry if my question seems elementary. Any help would be appreciated.

QUOTE (RedlineBrett @ Feb 9 2010, 12:31 PM) How much are you putting down? I would like to put down 5%

QUOTE (Gen1GT @ Feb 9 2010, 06:55 AM) If you`re having a hard time finding a rental property, why not create a rental property? i.e., find a big, old house with lots of space, then create a duplex or triplex out of it? Perhaps more cost up front, but could net stellar cash flow. Does anyone have...

QUOTE (gwasser @ Feb 8 2010, 06:29 PM) Although Wade's rents are quite amazing, I think you're a bit on the conservative side with your numbers. Why don't you e-mail me including the type of property you are looking for. Maybe I can find something that approaches your needs. Did you notice Jim...

QUOTE (wgraham @ Feb 8 2010, 03:42 PM) $1350 up $950 down $275 for the garage is what we have for current leases Wow that is better than I would have ever though for a garage. Is it legal or illegal? Very jealous of your deal .

QUOTE (wgraham @ Feb 8 2010, 03:04 PM) Have a look our current opportunities to see what we have been finding in SW/NW Calgary and how we run our numbers. These properties are not easy to find but they are out there. your vacancy rate is way too high for practical purposes in my scenarios...

QUOTE (wgraham @ Feb 8 2010, 03:04 PM) Have a look our current opportunities to see what we have been finding in SW/NW Calgary and how we run our numbers. These properties are not easy to find but they are out there. your vacancy rate is way too high for practical purposes in my scenarios...

QUOTE (Gen1GT @ Feb 8 2010, 01:31 PM) Isn`t the vacancy rate a little high for your calculations, or is it that bad in Calgary right now? Ya it is a little high but it is more of a stress test for properties. I think Vac Rate in Calgary should be 4-6% depending on the area (my guess).