GST is not paid on residential rent. But, that raises an interesting questions, ones that I do not know the answer to. Does GST get paid on the Option Fee and on the monthly credit? If the answer is, "Yes", what happens if the Tenant-Buyer fails to complete at the end of the deal? Probably...

I am on Thomas` side on this one. I congratulate you on your success. But from reading your post, Rainman, it looks as if it took you several years to build to that level. We have just come out of one of the highest real estate price increase periods in history. It was easy to flip any...

I do not mean to sound crass, but how do you want to calculate your ROI? As I understand it, you have NONE of your own money in the deal. Why are you worrying about your ROI? It is infinite. What you need to do is concentrate on optimizing your property management to ensure your cash flow...

Greatful, if you joined REIN, you would find this subject covered over and over. As the previous two posters said, it depends upon your intent going in. If your intent is to live in the property for a relatively short period of time in order to get better financing, you are running the risk of...

As you can see, Jason. There are two ways to look at the ROI. If you use a LOC, certainly the money you are using is secured by your assets somewhere. But, where does the money come from? Not out of your pocket. Therefore, IMHO, it is acceptable to work out you ROI based on the interest...

While it is true banks will loan 80% LVR, some, if not most, will allow HELOC to make up the difference. If you use an HELOC to purchase a property, with none of "your own money" in it, your ROI would be infinite. However, you will be paying interest on that money... interest that is tax...

First of all... Nick, with the exception of August, there are monthly meetings in Vancouver (actually in Coquitlam). However, you need to be a member to attend them. Secondly... Rick, the others have said it very well. I would put that money as an investment in your future by joining REIN...

The Canadian Real Estate Association produced a pamphlet on Grow Ops several years ago. I have just posted a copy of it our website for anyone who is interested. CREA Grow Op pamphlet

For some reason, small producers of electricity in Canada have a LOT of difficulty selling their surplus power back to the grid. It sounds logical in principle, but is rare in practice. The regulating agencies make them jump through hoops, and then simplyn drag their feet in issuing approvals...

This is a thread with perfect timing for me. I had the conversation about social network sites last evening with my web designer. There are excellent points and suggestions here. Thanks for starting it, Keith.

As Ramon says, you own the land through a "fee simple" interest in the land. The Crown has the power of "Eminent Domain", meaning it has the right to revoke your ownership (expropriate) of it, or determine its uses (zoning), to tax you, etc. That applies in every province in Canada, except...

My blank statement, "do not buy a grow-op". was more a warning than a statement of fact. IF you know for certain that remediation has been carried out in a manner similar to that done by Doug, there should be no problem. My cautionary words come because a buyer cannot know how in depth the...

I agree with the above recommendations. Do not use a form you found online, unless it is the Manitoba Standard Contract. It will cost you more to have your lawyer go through each clause in order to understand what it is you have signed. There is another similar thread here today in which I...

The reason that you are having difficulty obtaining financing is the possible long term health risk to the occupants, and possible structural damage to the home following its use as a grow op. Unless you know for certain how the bldg was remediated, run from the deal as fast as you can. A...

You are the rarity if this deal does come together. If you know nothing about selling, then I suggest you take Thomas` advice and get a lawyer. You will need to address the following: * Purchase price * Down payment ($2,000 sounds low, but is legal) * Closing date (called completion date in...

One advantage that being a REIN member has, which I completely forgot about in my earlier post, is the Group Insurance policy we have. If you have a multiple unit portfolio, say more than 6 doors, that will pay your REIN dues, and then some. There is rumour of more group benefits coming down...

Have you ever considered renting to own? It is a program that is perfectly suited to your situation. Take a look at our website, a link to which appears in my sig file below. If you have any questions, feel free to contact me.

Hi Darlene; What a great opportunity you have in front of you, to rub shoulders with 3,000 other like minded real estate investors across Canada. Greg has posted a terrific link that will probably answer every one of your questions. But, let me add one comment, because I do not recall...

Greatful, you may be grateful for this advice. If you were a REIN member, you would already know what I am about to say.If you are even moderately thinking about moving in temporarily, don`t give it another thought. What you are considering is FRAUD... in as big and as bold letters as this...

What is your long term goal... to own for the long term? or to hold for short term before moving? If your plan is a short term hold, don`t buy AT ALL. IMO, the increase in value over the next few years will be minimal, and your gain will be less than the expenses incurred by buying and...