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    Hassle Free Tenant Strategy

    We bought a property with a relative. We paid the down payment and legal costs, etc. and have 50% ownership. We are all on title. That was four years ago. He has been living there and paying all fees: mortgage, condo fees, etc. We have equally shared one special assessment and there is one...
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    Milestone of a different sort

    This month we launched our first website, and I am very excited about it. It`s still in the infancy stage, but we have made excellent progress in a few short weeks. It has nothing to do with real estate, but the writing that I am doing for the blog, the articles that I am developing and a plan...
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    Grande Prairie rents and renewing a lease

    I have some 3-bedroom duplexes in Grande Prairie, and my tenants` leases are up for renewal. They are both excellent tenants. One has been there for one year (a company) and one has been there three months. They are both paying $1600. Question: should I be raising my rents? How much are...
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    Charging extra for five adults

    I know that this topic has been addressed before, but I can`t find the thread. We have five adults who want to move into our 3-bedroom duplex (two couples and a single). Should we be charging extra rent in this case? If so, how much and how do we word it on the lease? Thanks.
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    Tenant insurance

    An insurance agent recommended adding a clause to our lease requiring tenants to purchase tenant insurance and indicating that they would cover the $1000 deductible for damage that was caused by them and required us to make a claim. Has anyone done this before?
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    Getting rid of bum tenants

    We have a bad tenant whose rent cheque bounced. Our PM gave him 14 days notice. Then we found out that he had two dogs in the house (against the lease), that the previous PM only collected 2/3 of the security deposit, etc. He said that he will move out at the end of the month and that he will...
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    Bad Grande Prairie PM

    I would like to retract my previous recommendation to GP investors to use Exit Realty for PM. We have had several bad experiences with them and have had to pull our properties. We have lost a good deal of money because of their bad judgment and bad managment. We are still cleaning up the...
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    Finding capital for renos

    We are only a year into our investments and as a result of a bad tenant, we have to spend some money on one of our units. Question: where does the money come from? We have some cash flow reserve building, but we had a few months vacancy, etc., and we are wondering if we take money from our...
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    Bringing family member into business

    We would like to bring our daughter into our real estate business so that she can help us move up to the next level in terms of working with JV partners, promoting and marketing our business, etc. What she has to offer are strong administrative skills. She`s great at doing many things that we...
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    Independent Legal Council

    We are asking another potential JV partner to seek independent legal council. After the last time (our partner was scared out of the deal by the lawyer), we want to be more cautious. Our partner has asked us to recommend lawyers. Barry McGuire is our lawyer, so we can`t use him. Do any of...
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    Looking for a financial advisor

    We`re reading a book by David Bach, and he recommends hiring a financial advisor to help us reach our dreams. He said in order to avoid picking someone who is just another salesperson, pushing his or her pet funds, that we need to ask successful (wealthy) people for their recommendations. He...
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    Don`t miss out on prime Alberta Real Estate!

    We have some great opportunities ready for those of you who want to invest in the Edmonton or Grande Prairie market. We are dealing on four properties right now, three in Southwest Edmonton and one in Grande Prairie. Two of the Edmonton properties are apartment condos and one is a carriage home...
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    Grande Prairie Rents

    Has anyone noticed that rents have dropped in Grande Prairie? What are you getting for 3 bedroom duplexes? We have one available in August, and our PM tells us that rents are dropping. What has your experience been?
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    RRSP`s: good or bad?

    We are investigating ways to maximize our investments, and the topic of RRSP`s has come up again. We are committed to RE investment and are focused on the 17-3 program, etc. and are making great headway. Our properties are paying for themselves and we have begun working with JV partners, so...
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    Rent to Own

    Can someone please explain how a rent-to-own agreement works? We may have a candidate for that type of rental agreement, but we don`t know how to set it up.
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    Investing in New Westminster, B.C.

    We have been asked to JV with someone in New Westminster, B.C. We are unfamiliar with the B.C. market. We are looking into it and would appreciate talking to someone who invests there already.
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    Insurance for apartment condo

    We are buying an apartment condo. Do we need our own insurance in addition to the condo board and the tenant insurance? If so, what kind? Should it include liability, loss of rent, appliances, etc? We bought another appartment earlier this year, and we were told by the PM company that we...
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    Paying mortgage weekly or bi-weekly

    We were wondering if it wouldn`t be a good idea to pay our mortgages either bi-weekly or weekly for a more significant mortgage pay down. Is anyone doing that with your properties? We have done that with our principal residence and it has made a huge difference. Why not do it for our revenue...
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    Two bedroom apartment in SW Edmonton

    We are buying a two bedroom apartment in Riverbend. It has in-suite laundry and a balconey. What kind of rents are some of you getting these days? I checked online and saw that rents have gone up considerably, but I wanted to check with those of you who own in that area.
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    Property Management for SW Edmonton apartment

    Can someone recommend a good PM for SW Edmonton apartments? We want to begin investing in Edmonton and need a good PM for our team. We would appreciate a referral based on customer satisfaction. Thanks!