Great opportunity for REIN members to lead and bring some perspective to the conversation. Keep your head while others around you are losing theirs. Peter

Actually - this has zero impact on you as a Real Estate investor. These rules are for high-ratio CMHC insured mortgages only. The government disallowed high ratio mortgages on investment properties last year. Having said that - look for Genworth's reaction and how lenders will react on...

The new rules will only have a marginal impact on homebuyers and even less of an impact on real estate investors. The only rule that will impact first time homebuyers is the change in maximum amortization. This will go from 35 years down to 30. The result is that a first time homebuyer will not...

If you are on title with a non-resident, most banks will want 35% down (with a few exceptions where income can be verified). Generally, the maximum loan is 65% LTV and is treated as an 'Off-shore' purchase. These deals are not unusual an can most certainly be done. if you don't want to put 35%...

Hey, just checking to see if you got ahold of Kevin. He's very good and really knows his stuff. Just as an aside though: since April of last year with the new rule changes, the 110% rule or the 1.1% rule as I call it changed and is no longer effective (remember that I was the guy who originally...

QUOTE (terri @ Dec 7 2007, 12:33 AM) I have a very unique 4 plex and it`s difficult to find good comparable sales. One reason being, is that it`s not a legally converted muti unit. Technically it`s a single family with legal non-conforming retrofit status. It`s been grandfathered. (My favorite...

QUOTE (albainstar @ Nov 22 2007, 04:54 PM) I am a self employed business owner and we are incorporated. I could see it made sence for that. I am about to purchase my second investment property and plan on a third before March. I see lots of people on here have thier own investing company...

QUOTE (pamb @ Nov 22 2007, 01:32 PM) I`m a newby. Just finished reading Don`s books. Have my bank package ready to go. Getting relationships established. Looking at economic indicators for various cities etc. Anyways I just finished reading this string and I`m so glad someone asked this question...

QUOTE (ToddStokowski @ Nov 22 2007, 11:12 AM) Check with a broker regarding the size of the house to see if it`s too small to qualify for quality financing. If it`s a house, it my understanding that you want to have something over 700 sq. ft. or there could be trouble in the future with...

QUOTE (chadmielke @ Nov 21 2007, 04:03 PM) Hi, I`m relatively new to the real estate game and have never chanced upon an assumable mortgage until now. I`m wondering if someone could take the time to explain to me the pros and cons of assuming an existing mortgage as well as things to look out...

QUOTE (jlprato @ Nov 21 2007, 01:32 PM) Hello, I`ve been reading a lot about the REIN System and I think I`m ready to start with my first purchase. I`m rented right now and I don`t know exactly what to do, to buy my fist real estate asset (for rent it) or to buy my own home. Please... Help...

QUOTE (Sherwoodparkcondos @ Nov 12 2007, 08:50 PM) Hi Mike, Thanks for the advice, I agree 100%. I had a good mortgage broker but he has recently changed careers, so I`m looking for a new one whos experienced with rental properties. If anyone`s (someone with over 4 properties and not...

QUOTE (jarrettvaughan @ Nov 7 2007, 05:01 PM) Thanks, that is great advice Rebecca. My long term plan is to purchase as many properties as i can use the maximum amount or OPM. This being the case, I understand that I should not be on the mortgage as that will affect my future ratios and credit...

QUOTE (jarrettvaughan @ Nov 7 2007, 11:32 AM) I am about to embark on my first investment property which will be a JV. My partner is able to use all of his credit to get the mortgage and we are spliting the down payment and expenses 50-50. Since he does not need my credit to get the mortgage, is...

QUOTE (gpdu @ Nov 1 2007, 11:53 AM) How much down payment they put down? When saying positive cash flow, I would tend to think 20% down using LOC at prime rate, and 80% mortgage, and the rent covers both mortgage and the interest on the down payment, plus all other expenses. It is hard to do...

QUOTE (martinmeb @ Oct 21 2007, 08:54 PM) Hi all, I bought a house in Edmonton in Jan/07 for $405,000, had it appraised in June/07 for $473,000. I than took out a Secured Personal Line of Credit from the equity for $83,000 and bought a revenue condo in Edmonton for $230,000 using the PLC for...

QUOTE (Torg @ Oct 22 2007, 04:29 PM) I found a property that a motivated vendor is willing to do a VTB. Puchase price approx $200,000 and he is willing to carry $25,000. It seems that most banks and/or realtors are still uneducated about VTB`s and don`t want them as part of the offer. I have...

QUOTE (BMironov @ Oct 19 2007, 10:30 AM) Hi Elisabet, I think it all boils down to your goal. Do you want to pay down mortgage faster or have better cash flow. Or by other words: would you like to put money into bank`s pocket or keep for yourself. Think about "time value of money" as well. Cash...

QUOTE (kennielo @ Sep 20 2007, 02:00 PM) Hi, is anyone know where i can have the " 5 year action plan from"? thanks in advance. You can email [email protected] and she can send you all the details that you require on the 5 year action plan. thanks Rebecca (for Peter Kinch)

QUOTE (DENZAL @ Sep 23 2007, 04:40 PM) Does anyone have any knowledge or experience with a "General Security Agreement" ( GSA ) being placed by a mortgage lender and its impact on the borrower`s future credit rating? We have a second mortgage lender that wants us to sign a GSA along with a...