As a student rooming house, your vacancy is going to be above average. Even though you will be self-managing, your time and effort will also be above average, Put a $$$ figure on that. I suggest at least 15%, and maybe 20% of gross rent. I agree with the comments above. There are probably...

There is no difference. However, as I said above, CRA taxes an inactive company at a higher rate than an active company. That tax rate is about the same rate as the highest personal marginal tax rate... thus no tax savings available. Unless you have 4 or more employees, a real estate company...

They are loaning you the money for you to buy your property. Yes, that interest is deductible by you. However, your parents should also report that interest as income, while off setting it with the interest they pay to the bank. It adds an extra step in their tax returns, but it eliminates...

This topic has been discussed numerous times, but may be in the members` section.It is believed by many that owning in a corporation makes the owner of a property free of liability. That is true to SOME degree. However, lenders will ask for personal guarantees. Whoosh! Away goes that...

It also depending on what "subject to certain conditions" means. If it is subject to the sale of an existing property, that is a common clause. If it is the seller hoping to get a better offer for some unknown reason, then don`t accept that. Either walk away, or delete that clause. You want...

IRR and NPV are more often used by the "big boys", such as Thomas, who invest in much larger properties. It is a sophisticated calculation, that unless you understand what IRR means, is useless. For smaller investors, calculating the average annual rate of return is sufficient. What we are...

A holding company is a corporation that, by CRA`s definition, does not carry out active business activities. In order to have an active business the company needs to have at least 4, I think, employees. Unless you have four or more employees, holding real estate in a corporation is not...

I am going to wait for them to pay me to take their money. The way things are going, that will be a few weeks from now as part of the Stimulus Package.

Another way to put it is: Paralysis by Analysis. The best way is to get in there and start doing the grunt work on your own. If you are too nervous about making a mistake, find a mentor who will give you help and guidance for the first few deals.

"Frustration" is the legal term for "impossibility of performance". A contract is frustrated when an unexpected event occurs that prevents the completion of the contract. I assume you have had conversations with your lawyer around this matter. Their advice, knowing the contract and your...

The developers in the Lower Mainland are suing purchasers who are electing not to close, regardless of the circumstances of the buyer. The developer has several options... from personal experience. They can sue for breach of contract and for "specific performance", meaning you will be ordered...

You can also extend the term to allow the Tenant-Buyer to build up more equity, or hold a VTB to cover the difference.

Hi Michel; To be blunt... membership has its privledges. All of that information is free in the members` section. I suppose you could convert all those pdf documents if you really want them. However, none of the documents you mention are .xls formatted in any case. Here is the REMA website...

Here is the correct link: http://www.brentdavies.com/advertising-ren...rental-websites

As I was reading your post, two thoughts came to my mind:1) Do you have to move to Toronto to get the education you are seeking? Can you stay in your current hometown and get your education via correspondence? Remember that a move adds more stress and expense. And, the cost of living in your...

Neil, I asked this question in another thread recently. What does your logic tell you? You know much better than I do what your concerns are. I`m guessing it is a structural issue, based on my current understanding. A Mike Holmes might give you the definitive answer. But, what if your...

Still not knowing what the problem is, I would hire a professional to give me an opinion about the cause and long term possibilities.

When I first got into this industry I worked for one of Halifax`s biggest appraisal firms. The owner and I went out to appraise a vacant home, which I thought was lovely. Were were just about finished when my boss spotted something odd. I no longer remember what caught his eye. He went into...

What is your true ultimate intention? You say you MAY live in it, but only for a few months, and then rent it. What would you say if you were in the lender`s shoes? If I were a lender I would say that you intend to use it as a rental property.

As I was looking through the previous replies, my thought was, "It is time to get a new Realtor and mortgage broker." Their advice could lead you to incredibly difficult legal problems. As one who has had legal difficulties (not real estate related) of my own, trust me, you DO NOT want to go...