Is it legal to ask for their SIN number? I thought nobody was allowed to ask for this, legally at least. But don`t you need it for the credit check?

Using a HELOC for the down payment worked for me in the past. Secured HELOC`s are now around prime + 1% I believe. A couple years ago you could get them for prime - .90% Lots of bargains out there now. Just make sure it CASH FLOWS!!! You don`t want to get trapped, especially when you don`t...

Much better to be one of those "I`LL BUY YOUR HOUSE" guys who advertise. That way the people desparate to sell come to you, and you`re the good guy for saving them from bankruptcy by buying their property when nobody else will.

Oops. I meant 3.62% not 4.62% QUOTE (Goodstuff @ Apr 23 2009, 11:04 PM) And why 4.39% ? You can easily get 5-yr terms under 4% now. I`ve seen 4.62% for properties over $500 K. Find a better broker.

And why 4.39% ? You can easily get 5-yr terms under 4% now. I`ve seen 4.62% for properties over $500 K. Find a better broker.

This graph shows the present affordability of a Calgary home based on three criteria: House prices Wages Interest rates As you can see, things are very cheap right now. http://calgaryrealestatemarketblog.files.w..._in_calgary.png Don`t buy into the doom and gloom!!!

I`ve had prospective tenants put down on their application that they are non-smokers and then when they come to drop it off I can smell the smoke on them. One reason why it`s good to meet the applicant in person, rather than a property manager - unless you can find a property manager who is...

Here`s something to think about: If mortgage rates are indeed at 11% five years from now, that will mean that inflation is very high, probably around 15% a year. That means that wages will be increasing on average at 15% a year, as well as most other items. Houses may not jump at that rate...

QUOTE (thomasbeyer2000 @ Mar 13 2009, 10:50 AM) You can depreciate the house portion (but not the land portion) for tax purposes up to 4% annually, and 2% in year 1. Estimate the land cost using commercially reasonable assumptions based on facts or evidence, or absent thereof, common sense...

Be careful what charity you donate to. <H1 class=docTitle>News release </H1> The Canada Revenue Agency revokes the charitable status of The Millennium Charitable Foundation Ottawa, Ontario, January 12, 2009... The Canada Revenue Agency (CRA) has revoked the charitable registration of The...

I have three properties. Presently I`m just renting them as the owner. Should I incorporate to protect myself or possibly to save on taxes? With only 3 properties I`m wondering if it`s worth it.

This year I made a profit on my properties (didn`t do enough upgrades/repairs to offset the income) and now want to calculate Capital Cost Allowance to bring my profit to zero. But to calculate CCA I am supposed to separate the cost of the building (a house or a condo) from the cost of the...

Sorry if this is inappropriate to be posting here. I have some properties of my own that I rent, but am now actually looking to rent myself. I live in Edmonton, but have to work in Calgary one or two weeks a month. So I drive to Calgary on Mondays and drive back Fridays once in a while, and I...

The Manulife One mortgage sounds pretty good, at least at first glance. Seems as though you can pay down the mortgage a lot faster than a conventional mortgage, without increasing your monthly payments. Does anyone have experience with this? Does it really work?

Another thing everyone should be aware of with TFSA`s is that different places have different fees for withdrawals from the TFSA. For example, certain brokerage houses / banks charge up to $70 to make a withdrawal. ETrade has told me they don`t charge anything. So check around. Why do you...

QUOTE (invst4profit @ Jan 20 2009, 06:30 AM) Yes to all of the above. They are noisy, they do disturb others if in a multi, and do damage to walls, toilets, floors etc. but often the problem is not so much with the child but with the attitude of young parents that do not have the maturity to...

Why is everyone against renting to people with young children? Are they that bad? I`ve never rented to people with young kids, so don`t know what the fuss is all about. I can`t imagine a young kid kicking in a wall (as teenagers sometimes do). They don`t smoke. Don`t party. I suppose they might...

Hi everyone. I`m looking for a good real estate lawyer in the Calgary / Edmonton area. Someone who knows real estate law and hopefully charges a fair and reasonable price. Any suggestions? Thanks!

If the seller`s contract with his real estate agent expired, and the house was not sold, then he has absolutely no obligation with the agent at that point. The contract has been fulfilled. He agreed to list it with the agent for the specified period of time. The time expired. Whether the...

Hi everyone. I have 3 properties besides my own house. Because I`m pretty much at my limit with the banks - they don`t want to give me any more money, as my income won`t support it - I don`t think I can get a LOC on my own home. The properties pretty much break even. Our house is worth...