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  1. moparcanuck

    What is better: cash-flow ... or higher ROI ?

    While I am normally a fan of getting some cash flow, I have to agree with Sherilynn on this one. Assuming one can rely on the numbers as presented, I would go for scenario 1. Why? Because in order to consider it a true apples to apples situation, you have to assume that you have the same cash...
  2. moparcanuck

    Thinking about a tax shelter? Think again!

    Just remember that donating something from a commercial venture (ie, your retail store) counts as a sale. While you might get the receipt for $100, you also have to record $100 in revenue (and may even have GST/HST implications, not sure off the top of my head). Might work out in your favor...
  3. moparcanuck

    Thinking about a tax shelter? Think again!

    And GLGI is another one that has been being challenged by CRA. Looks like all the donations have been denied at the moment. GLGI is challenging this in court, still waiting for results, but CRA has a pretty winning track record on these things.
  4. moparcanuck

    Thinking about a tax shelter? Think again!

    Please please please listen to Barrie on this one. While we all hate paying taxes, and the apparent opportunity to 'stick it to the man' seems very tempting, these scams always eventually get caught. Sometimes it takes a while to happen, and you think you've found a winner, but they get caught...
  5. moparcanuck

    Repairs and Maintenance

    Actually, if you do eventually decide to capitalize them (see my first post), there is no specific period to amortize them over. Capital Cost Allowance (the CRA official name for 'amortization') does not depreciate over a specific amount of time, but rather just takes a specified percentage...
  6. moparcanuck

    Repairs and Maintenance

    As with all such questions, the only true simple answer is 'it depends'. Firstly, if you've owned the property for a while and are just repairing out of normal wear and tear, you can likely expense it. If you've just purchased a fixer-upper and need to do these items to get it ready, it's...
  7. moparcanuck

    Realtors and Property Management in Red Deer

    I would also recommend Debbie at Hearthstone. I live in Red Deer, and have her looking after some of my properties.
  8. moparcanuck

    Borrow to invest against your RRSPs

    I would be cautious. Using an RRSP as collateral for a loan can cause the RRSP to be included in your taxable income for the year (same as if you had withdrawn it). RRSPs can not be used for collateral, but TFSAs can.
  9. moparcanuck

    Tax question

    Using your example, you would show $400 as income. Your mortgage payment is not deductible, but the interest portion is (the principal paydown is just the payback of a debt, not an expense). PS - I assume you mean to say that there's $4100 in interest, not $4600, since having $4600 in...
  10. moparcanuck

    Has any one used Manulife One or National Banks All in One Mortgages?

    My own experience with rates isn't too bad. I got seperate rates on the mortgage vs. LOC portions (not unusual). My mortgage is P-0.4, while the LOC is P+0.6. Seen better, seen worse. I do agree with the comment on the Manulife One product. Not sure if it's still P+1, but it was when I was...
  11. moparcanuck

    Has any one used Manulife One or National Banks All in One Mortgages?

    I have the National Bank All in One on my primary residence. Quite like it. Very handy to have the LOC automatically increased as the mortgage is paid down. Only down side for me is there's no National Bank in my city. I'm able to use HSBC bank machines for day to day stuff, but the one time...
  12. moparcanuck

    Closed today on my latest property.......already rented!

    Officially closed today on my latest rental property (number 6, woo hoo!). Property was vacant, and vendor was happy to give me a key ahead of time to do showings, etc, since it needed basically nothing to get it ready. I had been showing it (and the phone was ringing off the hook), and found...
  13. moparcanuck

    I too need advice

    I have to agree with the mobile home park idea. You will find that entry and exit is not as easy as single family homes (need more cash to get in, only really going to sell to another investor on the way out), but they can be great properties. My best property is a mobile home park I pretty...
  14. moparcanuck

    New Investor – Appreciate advice on options

    Always remember the two most important rules when it comes to investing in properties: 1. Cash flow is king. 2. Don't forget rule #1
  15. moparcanuck

    Closed on property #1!!!!!!!!!!

    Congrats! You've taken the first big step (lots of little steps to get here already) towards your Personal Belize.
  16. moparcanuck

    One bad apple......

    In case anyone was wondering why real estate investors (aka landlords) get a bad reputation, and also why it's getting harder and harder to get financing as an investor, this was in this weekend's Red Deer Advocate: A Mountie formerly posted in Innisfail has been convicted of tormenting his...
  17. moparcanuck

    How important is a dishwasher?

    Sounds like what I figured. I guess if I can actually get a deal on the place (going to make an offer today) I will have to start looking for a portable dishwasher. Quick glance, they're not terribly expensive (500-700).
  18. moparcanuck

    How important is a dishwasher?

    Question for those who have experience with this. How much difference does a dishwasher make to the rentability (and I guess the rental rate) on your properties. I'm looking at a duplex that seems to be in great shape (built in 1980, but most of the interior was redone a couple years ago)...
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