Thanks for clearing that up. I agree about the cash flow. I just didn`t realize that changing the payments would affect that significantly. Enough said. We will stick with the monthly payments. On a side note, has anyone made the switch from a fixed rate to a variable as Dan Heon suggested...

Thanks. I didn`t think that it would affect cash flow that much, but if it does, then if wouldn`t be a good idea.

We are buying an apartment condo. Do we need our own insurance in addition to the condo board and the tenant insurance? If so, what kind? Should it include liability, loss of rent, appliances, etc? We bought another appartment earlier this year, and we were told by the PM company that we...

We were wondering if it wouldn`t be a good idea to pay our mortgages either bi-weekly or weekly for a more significant mortgage pay down. Is anyone doing that with your properties? We have done that with our principal residence and it has made a huge difference. Why not do it for our revenue...

I think that I`m missing something. What would be the problem with renting out an insured property?

We are buying a two bedroom apartment in Riverbend. It has in-suite laundry and a balconey. What kind of rents are some of you getting these days? I checked online and saw that rents have gone up considerably, but I wanted to check with those of you who own in that area.

I see. I guess it might be valuable in that respect, if you have the time to investigate.

Can someone recommend a good PM for SW Edmonton apartments? We want to begin investing in Edmonton and need a good PM for our team. We would appreciate a referral based on customer satisfaction. Thanks!

Thanks, Brett. Your advice is much appreciated, as usual!

Why? I find that I have to keep moving just to keep up with all the information and leads that I get from my REIN membership. More is not necessarily better.

There still remains the question about the upcoming special assessment. Do we write that into the price or split it later? Even if we add the amount to the asking price, it will be a good deal, but we weren`t planning on putting cash into a purchase at this time. That`s why we`re working with...

Thanks, Brett. We thought of that as well. I have another question regarding this matter. If the seller takes the listing off the market, does he have to wait to sell it? Is there something in the realtor contract that limits him from selling it privately?

We own a condo and we are on the Board. Another Board member approached us about doing a JV deal. There has been a lot of trouble in this complex this past year due to poor management by the previous Board and there has been much fear mongering about a huge special assessment. Now that we are...

Thanks for all of your comments regarding this matter. You were all correct and we have quickly discovered that the man who approached us is a crook of major proportions. It now appears that he was trying to scam as many people as he could in a short amount of time so that he could skip the...

QUOTE (invst4profit @ Jul 11 2008, 12:54 PM) The banker in my opinion is suspect. The buyer paying the banker for information is grey. Does the banker have the permission of the sellers to pass on there names to the buyer? Obviously offering to assist someone with a financial problem is not...

We met a person who has been buying and selling Real Estate for four years. He has a close friend who is a banker. The banker gives this person names of people who need to sell their houses fast and who have mortgages that can be assumed. The banker also provides a list of people who are...

QUOTE (Sarnia @ Jul 10 2008, 10:14 AM) Dianne, I don`t know if this helps any, but the condo we are in the process of buying in Calgary is taken cae of by Condominium First Management Services Ltd - this is a building in Rocky Ridge - 3 buildings 262 units. I can tell you they have been great...

QUOTE (housingrental @ Jul 10 2008, 09:33 AM) I`m not familiar with UoA but from having a number of 9 bedroom houses in Waterloo: 1) Student housing can be very management intensive. The larger the group size the worse it is. 2) Large group numbers in a unit (ie 9 especially) can present a...

We own a property in Riverbend and I am on the condo association board. We are looking for a new PM company. The complex consists of three buildings and 63 units. Does anyone know of a good PM company that manages this type of complex. I`m responsible for getting quotes. Thanks, Dianne...

We are considering a property near the U of A. We are going to see it today--a large house with 9 bedrooms. Can someone tell us what it is like renting a place like this? What about utilities? Should we do the PM ourselves? Is it a major headache? Does someone know of a good PM company to handle...