Thanks for your input Godfried, you took the words right out of my mouth. QUOTE (gwasser @ Jan 23 2010, 11:35 PM) If you pay interest or delayed interest, or whatever other form of investment income into an RRSP (and probably also into a TSFA) no tax slips including T5 forms will be required...

Hey Godfried, You are 100% correct! I tried to stay away from purchasing a Blackberry, but I eventually had to give in. QUOTE (gwasser @ Jan 24 2010, 11:25 AM) Hi Tony, are your typing skills back in demand now with the rise of the Blackberry? Just trying to be cute!

Lucas, As you are already aware, there are many different things that will help to create success for a Tenant/Buyer and the Investor in a "Lease To Own" transaction. If certain steps and or procedures are not followed, it is so easy to create failure for all stakeholders involved. To put...

Monte, Like I mentioned earlier, I am not an accountant, but this is what we do. If our investor receives interest within a "calendar" year, we are required by CRA to provide that investor with a T5 at the end of the year, regardless of whether they are a "corporation" or an "individual". If...

Andy, In accordance with CRA you have to submit a T5 for each investor whether they like it or not. I am not an accountant, so please seek advice from your own counsel, but I have utilized tens of millions of dollars of investment capital over the years, and we ALWAYS submit a T5 each year...

Dan, Thanks for giving back! Your extended efforts have obviously not gone unnoticed. CONGRATULATIONS! QUOTE (Dan_Eisenhauer @ Jan 22 2010, 08:42 PM) At the Vancouver meeting last evening I was awarded the Michael Milenaar Leadership Award. During his introduction Don Campbell mentioned...

Thanks Godfried! Congratulations on your recent (realtor exam) accomplishment! QUOTE (gwasser @ Jan 21 2010, 09:13 AM) Hi Tony, I think you`re right on.

Godfried, I agree, the longer you play the game the "home run" odds will only get better! I can personally attest to that, as I have had the good fortune of hitting my share of home runs since venturing down the (real estate investing) path! On the flip side, I have also had my share of...

Harold, There are no "fixed" percentages or formulas. You have probably heard this saying before...Cash is KING! As a real estate investor, this could not be any closer to the truth! The more you can spread your cash around, the more properties you will be able to purchase. My recommendation...

Godfried, Brilliant post! Thank you for sharing your wisdom with us all. QUOTE (gwasser @ Jan 19 2010, 11:01 PM) Lately I have read a lot of postings by many budding real estate investors about how to make a lot of money without having money. How naive (did I spell that right?) How naive...

You`re welcome Ken! QUOTE (KenChu @ Jan 18 2010, 08:35 PM) Thanks Tony

Ken, I am not a big fan of mobile homes or trailers as I view them as "depreciating liabilities", and not "appreciating assets". Now with that said, I have structured a few Lease To Own deals and I have done extremely well. I once had a mobile home that I held for two years in Fort McMurray...

For those of you that know me by now, you have probably become accustomed to me..."telling the brutal honest truth, and telling it just the way it is!"So here goes… If you are a "positive" thinker, and I am sure most of you are, you probably go about your life saying, that doesn`t work, but how...

Congratulations Ed! QUOTE (EdRenkema @ Jan 14 2010, 08:52 PM) So I sold my first property. This was a student rental that I purchased just after joining REIN in November 2007. I paid $178K and at the time it was rented to 5 students for $1950 per month. It fit the system so I bought it...

Godfried, Extremely well put! Thank you for your input! If the forum would like to hear my "personal" opinion of what adjustments are required in order to attract more "positive" and less "negative" attention, I would be happy to provide it. With this in mind, can I have a show of hands...

CONGRATULATIONS Jim! See how easy it is to crank a "PAY CHEQUE" when you do business in an ethical way! I just finished telling another REIN member... "If you keep your marketing machine cranked up, you will be truly amazed at the deals you will transact on. Most of them will be "smaller"...

Jim, I agree with Thomas and Paul. This is a "sketchy" area. Unless you can flip the property "REAL QUICK" I would not touch it! QUOTE (JimWhitelaw @ Jan 11 2010, 02:11 PM) Hi, I`m looking at a potential quick turn opportunity in Edmonton, but I don`t know the neighborhood well. I can`t...

Jim, Is the "cash buyer" an "end-user" (moving in to the property themselves) or are they an investor that is going to renovate and flip? QUOTE (JimWhitelaw @ Jan 13 2010, 07:35 AM) Update: I have a cash buyer for this property; we`re going to write up the paperwork today. For those that have...

Jessa, Great topic! When I came across a REIN advertisement almost 10 years ago, I remember saying this to my wife…"I would like you to attend this (Quick Start) real estate investing event with me because I do not want to go on my own, and have to come back and do a sales pitch on you. If we...

Congratulations Jim! I am happy to hear you were able to structure a Win, Win deal that works for all stakeholders. QUOTE (JimWhitelaw @ Jan 9 2010, 03:55 PM) An update - I got an offer accepted on this house - $215K cash deal. It`s a true UGLY house inside. Needs major renos - kitchen, bath...