QUOTE (MikeMcCrae @ Nov 9 2009, 12:21 PM) yes you will have to re-qualify. Thanks Mike!

If I have an existing $160,000 mortgage on a property and I sell that proeprty and turn around to buy anew $160,000 proeprty, and assuming I have a portable mortgage - can I port that mortgage without having to re-qualify, or do I have to go through the re-qualification process?

Hi everyone, A few quick questions... I am considering selling my revenue property (30 yr. old SFD) just outside of Edmonton next spring to take advantage of what is generally an annual upswing in activity and prices. First, the house is currently rented with tenants who signed a new 1-yr...

Hi Jessa, I live in BC and own a rental property in Alberta - I use RBC (Royal Bank) as my insurance provider for that property. I would assume they could do the same for you as an Ontraio resident... as far as I`m aware it would only be problematic if you either lived in or owned the proeprty...

I live in BC but my rental property is in Alberta. I have been using RBC for the past 2.5 years but not entirely satified. Anyone have suggestions on who to use given my situation (not all insurers can insure outside of their province of operation - ie my vehiclke is insured through BCAA but...

I moved from Edmonton to Nanaimo last summer. These guys were great, and affordable. I was already out on the Island so they did the pick up from a storage unit and delivered on time. Nice husband and wife team with 2 teenage helpers (their son and a friend I believe). My golf bag ended up...

Nanaimo Airport is currently being extended and upgraded and will be able to accomodate 767`s, and thus will be able to compete with Comox and Victoria for air service. The only reason Comox has Westjet is they have the air force base, thus had a facility to acomodate The Nanaimo Regional...

QUOTE (seanverret @ Apr 21 2009, 09:46 AM) When you get your answer could you post it here, because we have some major trees in our front yard as well that we`d like to get rid of. Thanks I do not believe that Edmonton has a tree removal bylaw. We didn`t have one when I lived in Fort...

QUOTE (MatzoB @ Apr 20 2009, 10:59 PM) You can appreciate the fact that it is your responsibility to remove the tree and relieve us of your nuisance. That`s just hilarious. Previous poster likely offers the best solution - tell them you will agree to have the tree removed at their cost and pay...

Yet another question from the novice.... The mortgage on my rental property is up for renewal in September, 2010 (17 months from now). It is a 5-year fixed at 4.4% with 18 years remaining on amortization. I understand that I will not need to re-qualify in order to renew this mortgage, that RBC...

QUOTE (thomasbeyer2000 @ Mar 24 2009, 02:02 PM) take the $1400 (or $1250 even) .. assuming tenants are good .. as rental and housing market in that area is QUITE SOFT .. many layoffs .. and upgrader alley may take a few more years or decades to develop than originally planned .. Thomas, Thank...

Hello, currently renting out my 3+1 bedroom updated bungalow with fenced yard and double garage in Fort Saskatchewan, rent has been stable for nearly 2 years at $1700/month + utilities. Current lease expires at the end of June. My property management company advises that the current tenants...

QUOTE (mortgageman @ Feb 27 2009, 02:34 PM) It seems 1/2 duplexes in Fort Sask are around $1500 to $1550. We have tenants who we are renegotiating with and have suggested $1600 because they have a dog. Interesting - Thanks Jason. It seems to me that based on the 2 scenarios identified that...

QUOTE (PaulPoulsen @ Feb 27 2009, 03:36 PM) I don`t find this to be the case at all. All our rents are holding steady and we`re even anticipating minor increases when our leases come due. Do you mind if I ask where you`re getting those numbers from? Paul, this was from my property management...

QUOTE (ChrisDavies @ Feb 27 2009, 12:55 PM) That`s a cost/benefit question. If you bail, what`s the total financial picture? Will the gain from selling be more than that from holding out for a year, eating the $2700 and being back up in a year when the market is stronger (for sales and rentals)...

Elizabeth and Ed, THANK YOU both very much for your responses. I now have a better understanding of where I stand. Okay, so I will include both P&I on the mortgage - I understand where you are coming from. None of the LOC funds are being used to finance this property so I will not attirbute...

QUOTE (dannielsen @ Feb 25 2009, 01:56 PM) I own a condo in Ft Sask, it is a 1 year old 2 bedroom, 2 bath with an underground parking stall. I just reduced the rent from 1650 to 1465 + Power. But to off set the decreased rent, I have rented the additional above parking stall for 85 a month...

Here is the other way to look at it: TOTAL REVENUE: $1700 TOTAL EXPENSES: $2250 Mortgage Interest: $ 650 **Mortgage Principal: $ 450 Income Tax: $200 Property Taxes: $ 150 Insurance: $ 80 Property Management: $ 200 **LOC Interest: $320 (BUT, the LOC funds are being used for alternative...

QUOTE (Phantomtib @ Feb 26 2009, 10:05 PM) From what I understand: I would include principal and interest as part of my expenses for a rental property just so that you know you are paying down the mortgage as fast as possible. The only reason not to pay principal is if you took out a HELOC. A...

2 quick questions about cashflow..... 1. Should I be including mortgage principle in my calculation to determine if a property will cash-flow, or do I include only expenses such as mortgage interest, property tax, property management, income tax and maintenance. 2. Along the same lines, if I...