QUOTE (RobMacdonald @ Sep 20 2010, 01:00 AM) I hate to say it, but I think you really got some bad direction with your Scotia Experience. I`m guessing that you were dealing with a branch that didn`t have a great relationship with the broker channel. Fact is, what they sell through the broker is...

1) The original 10% rule has been amended by REIN to be an 8% - 10% "cash flow zone" as a first filter or rule of thumb. 2) As the others have stated, finding such properties is extremely difficult - condos and single family homes almost never meet this criteria now - condos usually because of...

QUOTE (MonteDobson @ Sep 19 2010, 11:52 AM) So you are saying that Scotia declined the request to even access the LOC, even though it shows on every statement and online banking how much LOC that you can have access to?? Yes. We were told by a Sr. banker at the branch that in order to access the...

We have a Scotia STEP on one property and in addition to the full-value mortgage registration Garth mentions, we experienced the following: 1) The mortgage contract explicitly forbids registration of any other loans on the property, which put the kibosh on a VTB loan we`d arranged. 2) Accessing...

Hi David, give me a call if you like. I`d be happy to meet you for a coffee and walk you through the RTO process to help you understand how to structure your deal.

I don`t claim to be authoritative on the topic, but I`ve never heard of properties being sold at tax sale auctions in Canada, only the US.

I`ve had positive, easy experience using an assignment of contract. We created a separate contract agreement assigning the original contract to the ultimate buyer AND created an amendment of the original contract changing the name of the buyer to my buyer instead of myself. Both of those...

Regarding your investment property, it will depend on the lender. Most top-tier lenders will renew without doing a new appraisal, etc. if you are current and have a good payment record. Some lower-tier lenders won`t though. When does your investment mortgage term expire? If it`s a few years out...

I created a spreadsheet a while back that does what you want plus creates some useful graphs to illustrate the difference between several rate increase scenarios vs fixed rates. The document is shared publically in Google docs - you can copy it or download as Excel to work on your own. Simply...

@w_chris_davies I`m totally hurt that you follow me on twitter, you see me at REIN meetings and yet you don`t include me on your list. @jimwhitelaw

I have a few backup scenarios, depending on the data. For most personal data - finance, photos, etc, I make daily backups of local data to a network server and that server makes daily offsite backups. So I have two levels of backup and can restore even if our internet service is down. It`s all...

If you`ve checked things out and there doesn`t appear to be a grow-op onsite, perhaps the neighbors have one. It`s very common for grow-op operators to steal power from their neighbors.

Just want to add my support to Peter`s advice - Develop your plan first, then choose the option that fits your plan. It`s easy to make quick comparisons of current rates and options, but real estate investing is a game played slowly and carefully. Think about where you need to be a few years...

QUOTE (RedlineBrett @ Jul 9 2010, 11:15 AM) Meloche monnex doesn`t do rentals. That`s it, full stop. That`s odd. We have three rental properties insured with Meloche Monnex. They are fully aware of the rental status and other than requiring notice and modifying coverage during vacancies...

FWIW, I looked at some tankless systems briefly at a home reno show recently. I don`t recall the brand, but they were starting around $4300 and do require some maintenance that tank type systems don`t. I couldn`t see the ROI for a rental. Note: my research is far from exhaustive, it`s possible...

QUOTE (JimWhitelaw @ Jun 30 2010, 04:04 PM) Got a seller lead in Guelph, ON. Contact me if you`d like to follow up on it. Lead has been sent to someone in SWO. Good luck!

Got a seller lead in Guelph, ON. Contact me if you`d like to follow up on it.

Adam, I`m sorry I have a bad memory. Please remind us again about your experience with the Calgary rental market, the Alberta building codes and the City of Calgary approval process for secondary suites? Part of the problem that Brett points out is that (like in Edmonton) the City of Calgary is...

Good advice so far, as expected. I`ll add only that you should examine your own business objectives and your plans for this property. Does selling this property in 3 yrs or less fit with your long term goals? If so, then set up a properly contracted RTO and go for it. If not, move on to a tenant...

Are you in the phone book? If so, the whole world has your home address anyway. I wouldn`t sweat it too much. Get yourself a po box or local mailbox service if you want, and do it differently in the future. RELAX. If this is your first investment property and that`s the only mistake you`ve made...