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  1. Thomas Beyer

    Real Estate Question

    If your brother is on title with you then he is protected. You may wish to define though what happens if A) you decide to move out B) he wants to sell but you don’t C) you want to sell but he doesn’t D) you fail to pay rent E) you move out and it is re-rented and tenant doesn’t pay rent, or...
  2. Thomas Beyer

    Real Estate Question

    The owner will claim any gains or losses. Who will be the owner? Both ? 50/50? Are you American as the term “deed” is not Canadian ? Would you pay rent? What happens if you stop paying rent? Do you envision getting a first mortgage? If your brothers money is not equity but a loan then you...
  3. Thomas Beyer

    List Property Online

    Yes you can do that but you must pay commissions to showing realtors (otherwise they will avoid yours) AND you need to be able to accommodate showings AND you need to know basic legal process incl offer process. Or you can use a low commission 1% brokerage. Sent from my iPhone using myREINspace
  4. Thomas Beyer

    VTB Contract Sample

    VTB terms can be as flexible as seller allows but always have to be seen in light of the asset class, purchase price, length, cash down, first mortgage and overall market sentiment. They are quite common in raw to be developed land sales as first mortgages are usually far lower but not that...
  5. Thomas Beyer

    VTB Contract Sample

    You don’t need a VTB contract. You need a simple sentence in a normal offer, such as Seller will grant a mortgage in second position for _________ at ___ interest, payable monthly (or annually or accrued) until ______ or earlier in the buyer’s discretion. Lawyer will do the test once seller...
  6. Thomas Beyer

    Finding ACRE System Demographics

    Don’t confuse a vacation property with an investment property. US is huge. Pick a state and then a city that has upside and that you can go to repeatedly .. then go VERY DEEP. How to get started ? https://myreinspace.com/index.php?threads/How-to-get-started-%3F.4363/ Thomas Beyer, Asset...
  7. Thomas Beyer

    Everyone Still Choosing Variable?

    Still better than a fixed 4% for a 5 yr mortgage for at least 18 month AND smaller prepayment penalty if you exit early. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
  8. Thomas Beyer

    Finding ACRE System Demographics

    Almost any US city is a good buy. Most Canadian cities outside AB or SK is a hold right now I’d say. Values in most BC and ON cities in decline this year AND tough to cash-flow with 70%+ leverage AND rent controlled. I’d say this year and next buy in AB or SK. Wait for bottom to form in BC...
  9. Thomas Beyer

    Everyone Still Choosing Variable?

    Assume variable rates are 1.25% higher by mid to late 2023. Variable rates of P-0.7-0.9% are common today. I’d get that esp if you want to sell before mortgage expiry date. Variable rates are always cheaper than fixed rates, on average. Thomas Beyer, Asset Manager & Improver, Hard Asset...
  10. Thomas Beyer

    Home or mortgage loan while having bad credit score

    Access to cheap credit is vital for real estate investors. If you have bad credit it’s a sign of bad past behaviour that has to be cleaned up first. Focus on that - such as those steps listed by Tina - then buy real estate. Of course you can get private money but they will also check your...
  11. Thomas Beyer

    Nesto and True North Advice?

    Money is fungible. Understand the mortgage penalties, usually three month on a variable but not by law but by custom. Maybe Nesto charges more? Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
  12. Thomas Beyer

    Capital gains exemption?

    Income from flipping properties is taxed 100% indeed, but holding, or even intending to hold, then selling for a gain, qualifies for the 50% exemption. Flipping is not defined. Use broad discretion. If it’s a year or less one could argue it’s flipping but if your intention was to hold and you...
  13. Thomas Beyer

    Advice for Parents with LOC

    If .. being the keyword. Leverage has its own pros and cons but like a pen, tank, canon or knife can indeed be very impactful. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
  14. Thomas Beyer

    Need a place to vent about my cheap tenants

    What province is this? Do you have the original lease ? Keep the security deposit in lieu once they have left. Your purchase contract should state what belongs to house (ie chattels such as W/D, dishwasher, etc) as it is usually listed. So, once they have left I’d summarize the item that...
  15. Thomas Beyer

    Advice for Parents with LOC

    Yes it’s certainly an option worth exploring. Reverse mortgage rates in the 4.5% range these days though ie about 1-1.25% higher than regular mortgage rates. Benefit of LOC is you pay interest only on what you took out, and rates usually 0.5-1% above prime. Cheapest money is a regular...
  16. Thomas Beyer

    Advice for Parents with LOC

    I live on the Sunshine Coast (aka Costa del Sol aka BC’s Riviera) north of Vancouver now but I am in Alberta frequently as many assets are there to be managed, inspected or assessed ! Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor...
  17. Thomas Beyer

    CMHC small town multi-family gold

    AB or SK still cheap with ample upside. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
  18. Thomas Beyer

    CMHC small town multi-family gold

    1.5% annual rent caps. Tough to evict. Very tenant friendly. High prices to buy old product with huge deficiencies. BC = Bring Cash !! Lots of it. Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
  19. Thomas Beyer

    Advice for Parents with LOC

    I guess no lunch .. Sent from my iPhone using myREINspace
  20. Thomas Beyer

    Off Market Deal advice -Agreement for sale deal

    Assuming the mortgage is easy. Just switch title. Seller is technically still on the hook and you are now in default of the mortgage terms but banks rarely enforce it. However in July the bank wants their money and now YOU the new owner must refi ! AfS works best if there’s a bit more time left...
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