What an inspiration: http://ca.shine.yahoo.com/living-small--lulu-s-shipping-container-home.html

Hi, I have to replace some dry wall in a basement. Is installing a Vapor Barrier in a basement wall, which is in common with one of the apartments (the basement unit), recommended in case of significantly different temperatures between the rooms? I understand its use has become controversial...

Hi All, FYI a new continuous service agreement in some cities allows you to waive "change of occupancy" charge that normally applies when a tenant moves out and your unit is vacant for 1 day or more. Note you may have to sign their agreement to have it waived! Other providers just need you to...

Hi All, I'm helping a friend and wanted to ask if anyone can recommend an appraiser to work with in Toronto. he needs it for a triplex appraisal in Toronto NW of Bathurst & Finch. THANKS.

Hi, There will be a LTB Hearing thanks to a "Request to Re-open an Application" the landlord has filed following an order under section 206 which the tenant failed to meet. The order was based on a non-mediated agreement to follow certain payment schedule, which the tenant signed but failed...

Hi All, A building inspector determined that a 2nd floor balcony of an old Plex is unsafe and it is mandatory that either a repair or a removal of the balcony be completed. Would you prefer to repair or remove the balcony assuming the same cost of say $2,000 for each option? In other...

Hi All, We know that a personal bank statement (say $50K balance) can be used by the buyer as proof of down payment when buying a property under a corporation. Is the opposite true too? meaning is a corporation`s bank statement* (say $50K balance), acceptable by the bank a proof of down...

Hi, When a lawyer represents both the buyer and the bank in a new purchase or refinance, does it double his income more or less? For the buyer, lawyer's fee is around say $1000 for a small property. does the bank pay the lawyer around the same amount or usually more? What are the...

Hi All, A basic question regarding CMHC/Genworth insured mortgages. Example: Property appraised value: 1Million Mortgage principal: 500K CMHC mortgage insurance fee paid when purchased 3 years ago: 30K (to get a 90% LTV) If the above property is refinanced up to 80% today meaning...

Hi, which VTB option is more common - 1 yr term, 3yrs term OR 5 yrs term? term meaning at the end of the term you have to pay full principle back. also, is it common/reasonable to ask to pay interest only at the end of the term together with principle, instead of monthly? THANKS.

I just viewed an MLS listing with the following description: "..TONS OF UPGRADES INCLUDING 2 FURNACES & 30 YR ROOF" Any other hilarious RE ads or stories to share? Cheers :)

Hi Everyone, A banker I know suggested arranging a home equity line of credit based on the value in one of the properties. Do you need to involve a lawyer if approved in this case where the bank is interested and initiates the process? I understand for a re-finance of a Plex involving a...

Hi All, My friend has a unique financing situation and was only approved by Home Trust. Their interest is higher but this was expected. The other thing he noticed is they charge more for different items - for example around $500 on renewal (most banks do not charge for that after being...

Hi All, Another mortgage question from me. Example: - An investor purchased a property under a corporation of which he owns 100% of the shares. - The corporation is on title and investor's name on mortgage. - The investor gave the corporation a loan in the amount of $100K (for...

Hi, Small question: a friend had an appraisal done on a plex recently. His name is on the mortgage and his corp. is on title. The appraiser asked my friend if he wants the cover page of the appraisal to show` For: company name" OR "For: my friend`s name". I guess it doesn`t matter. still...

Hi All, A question for REIN members: when applying to refinance an existing mortgage based on a new increased appraised value, do you provide the bank with your complete Investor`s Binder like when applying for a new mortgage or do you just fill their standard application form since it is the...

Hi All, I'm viewing a Plex and there was a fire at the house 3 years ago. As a result of the fire the top half - 2 apartments, had to be rebuilt and these apartments are completely new now. (the bottom half is around 50 years old) What are the main things to look for/check in a house like...

Hi All, What CAP rate is considered good in Brantford, Ontario for a 4-plex and 10-plex in an ok area? 7%, 8% or 9%? THANKS.

Hello, Any recommended website where you can plug in the salary and it calculates the cpp you have to pay as an employer? no worries, I need it just as an estimate. The final numbers will go through an accountant :) THANKS.

Hi Everyone, How much approximately does it cost to replace electric baseboard heaters with a furnace in a building? Any estimate for the cost to do so in a 4-plex? same question for a long 10-plex with 2 floors? THANKS.