There was an inspection carried out. That bathroom was humid, but with dry walls. The only comment made by the inspector was to advise the tenants to keep the bathroom van running after taking a shower. The legal advice I am getting is that I have little cause for legal action. I am trying to...

Thanks for the comments everyone. A number of situations collided at the same time to create a lack of sufficient cash to make the repairs. I feel as if I am in "The Perfect Storm". The intent of my telling this story is to make others realize that perils, sometimes beyond our controls, can...

Am I the only one having problems editing posts? I see some typos, etc in the above post that I cannot correct. Moderators?!?!

Recently I have run into a situation that I feel all of us can learn from. I pass it along FYI. About 18 months ago I bought a 4plex in NE Edmonton, in my own name. (All my current holdings are held personally.) The seller took a sizable VTB. Here is the Coles Notes version of the story. In...

Jim, if your good looks and charming personality are worth just $32,000, I can only guess at my net worth. It boggles my mind. ;-) Congratulations!

There is a long thread in here somewhere on that topic. The title is something like "Who Rocks? It was written around Nov/09. Do a search.

A less expensive way to search title in BC is to use BCOnline It is, however, cumbersome, and not very user friendly, IMHO. (I forget their rates.) HAving said that, you need to "deposit", I think it is, $100, which is charged to your credit card. When the $100 is used up, the card is...

This is a black and white issue, with no grey in it at all. CMHC has required the Purchase Credits to be greater than market rent for as long as I have been in the industry... close to 40 years. (Where did that time go?) There is no firm requirement for the money to be left in a trust...

The games meant a 14 day vacation crusing the Caribbean, eating, drinking, swimming, relaxing, recharging, and spending too much money. What did we miss? We got back in time to see The Game.

Having the employer sign a lease is not THAT unusual. Get a Dun & Bradstreet report on the company, and any other references you can find. See if they will give you fiancial statements. There are no additional concerns or clauses that I think you need to address in the lease. If the company...

Gary nailed this one. A seller is not compelled to accept any offer simply because an offer was made. Nor do they have to counter an offer. The seller is free to accept, OR COUNTER, any offer presented, on any terms the seller sees fit. I think it is normal, for multiple offers to be...

And using Renters as an example. Such a list would become dated very quickly, assuming the question involves finding tenants who are currently looking. One can go to Canada Post and collect the information about Postal Walks that are in primarily rented areas. You can search by residential or...

Another question to ask yourself, if you think the Games had, or will have an impact on pricing: Would you invest hundreds of thousand of dollars in a property because of a two week event? The 86 World`s Fair had no appreciable affect on prices, and it ran all summer. What drove property...

Are you buying or selling A non-board member does not have access to the local MLS system. Most ICI Realtors do not belong to the local RE boards, and they do very well for themselves. Not being a board member does not mean he/she will not do an adequate job for you. However, as a former...

The first thing you have to do is determine whether or not your friend is serious about selling, or just spouting off. Then you need to find out the other things you have identified. I have always said, "You can`t sell flowers from an empty cart." The only thing you have right now is a...

The monthly credit, future purchase price, and every thing related to the Option get covered in the Option Agreement. Do not mention the OA in the lease. When writing your lease, be sure to put all the payments in the rent. I made the mistake recently of putting just the "rent portion" in the...

At the Vancouver meeting last evening I was awarded the Michael Milenaar Leadership Award. During his introduction Don Campbell mentioned that several people nominated me. Since I do not know who my nominators are, I just want to publicly thank those who did put my name forward. It is...

Someone is going to have to pay the GST at some point in time. It, like death, is unavoidable. You need to talk amongst yourselves how the GST is going to be handled. The Buyer can pay it, but watch for it in the Purchase Contract. If it is not covered, you can be certain the sellers will be...

You can ask for the SIN. But, an applicant is not obligated to give it to you. HOWEVER, if you ask for it from everyone, you are allowed to reject an application that is incomplete. It is your money that is riding on that application. Do what needs to be done to protect it. I learned the...

Recently, I have experienced two tenants who have left me with fairly large receivables... significant enough to try to get judgments against them. My experience has taught me things about obtaining a judgment that I feel I should pass on to the community. When taking an application from a...