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  1. kennyb

    Tax specific question

    A friend of mine is in a situation where they are required to pay $60k for their portion of the rain screening cost on their apartment building, in which they own a rental unit. Big hit to them as owners but I was wondering if this amount could be used as a tax deduction on a go forward...
  2. kennyb

    My first purchase

    Thanks for your comment Thomas, and the link. As part of my plan is access the equity available when I refinance I will be trying to increase this equity as fast as possible, therefore accelerate weekly payments will allow me to get more of the mortgage paid down in 2/3 years when compared...
  3. kennyb

    My first purchase

    I thought it would be a good time to post my next update seeing as it's been a few month since the "machine" has been up and running smoothly. I took possesion of my place mid March and found a tenant with my property manager for April 1st and signed a 1 year lease. The tenant had a working...
  4. kennyb

    My first purchase

    First property purchased! After researching areas, gathering team members, and performing due diligence I finally closed on my first investment property. A townhome in southeast Edmonton. Here's the quick story. So I'm in my late 20's, I live in Vancouver, I have some capital and I'm...
  5. kennyb

    Property #1- JV with a focus on learning

    I agree with your post Thomas, and there are no guarantees that the area will grow as some of the more significant developments are contingent on touchy legal issues. From my preliminary research I notice that Kitimat currently has pretty good cap rates (around 7/8%), even when using very...
  6. kennyb

    Property #1- JV with a focus on learning

    Thanks a lot for your response Thomas. Edmonton is an area we have been considering as well as northern BC locations such as Kitimat, which has active economic growth and good purhase prices. cheers.
  7. kennyb

    Property #1- JV with a focus on learning

    My JV partner and I are recent CA's and are looking to get started within the RE market. We have both done a lot of homework and are ready to "lace up our skates." We have a modest $50k investment (+conservative amounts for admin costs & asset repairs/improvements) and are looking at getting...
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