Some lenders take issue with heritage designation...more restrictive.

I live in ON and invest in AB (focus on Edmonton). Your approach should be like to any market you may be interested in: do your research, build your team, focus on a niche and area so your business is efficient. Building it up takes time, there is a learning curve, but as the business evolves...

Actually it is the opposite. Trust companies (but not all) usually are more flexible on qualifications, so you want to reserve them for later, when you have a bigger portfolio and your debt ratio and property count increase. You first want to got to the lenders that have stricter rules on...

I would add also, if getting a new job is the route you want to go, try keeping it in the same industry/profession/field of work. Lenders like to see consistency and experience, if you start in a new field altogether, there is no history. Good luck!

There are a few 35yr amortization lenders left, for 80%LTV conventional, but you would need to see if you can qualify under their other criteria.

National Banks product is the most versatile, in my opinion. If you have large LOC, you can split up to various accounts, and this allows you to split up personal and business for tax purposes. Depends which broker you work with, but you can still get a competitive rate on the LOC. National...

It is good strategy to make your mandatory mortgage payments on a rental as low as possible, in case the unexpected comes up and you need a cashflow buffer. You can always pre-pay more manually if you like. If you see consistently that you have healthy cashflow and rents are good, you can then...

To add to the topic: sometimes lender will want an appraisal after work is done to verify the value of the property and they will then lend (release the holdback) on the lesser of the new appraised value or the cost of work done. Other times they will just send an appraiser to verify the work on...

I am excited to share with you some news! I made into today's article in Money Sense magazine 'How to Buy Income Property'. It discusses how and why I got into real estate and I provide some advice on real estate investing. Don Campbell also shares his insights in the article. This was a...

Applying for mortgage via a corporation does eliminate a number of lenders. Even if the lender accepts, you will most likely have to personally guarantee. So, you must have other reasons why incorporating is important to you. Yes, self-employed applicant is a harder deal, but lenders do...

Re-advanceable mortgages/HELOC products are ever-changing. Now most lenders will not do HELOCs on rental property. Also, there are nuances between the various re-advanceable mortgages/HELOC products, some are more logistical challenges than others - for example, how the money is moved, are...

Great interview, from 'real' real estate investors, keeping it real and not sugar-coating it. Amazing insight and inspiration, I wish there was more of this stuff when I started investing! Thanks Gary and Ian!

I am so glad I invest in Alberta. There are less political shenanigans there, less risk to my business model IMHO :o) The landlord licensing that went down in Ontario cities is unacceptable and unfair.

Since source of money is theirs, they would need to go on title, along with yourself if you choose. Co-applicants. That is the simplest approach, the other suggestions above are good too.

I use myfax and my1voice. No complaints. They are a Canadian company, I believe.

I can`t provide you an answer with volume size, but can advise you to consider the risk of undersized water tank = hot water running out = unhappy tenants = annoying phone calls. Also consider usage intensity of hot water...would there be multiple hot showers, dishwasher, laundry within short...

You indicate you purchased property several months ago. I wonder if seller knew something was up and didn`t tell you? Getting an energy audit done may be a good idea, it is only several hundred dollars, you are overpaying that much in electricity each month it seems anyway, so maybe worth your...

I once inconvenienced a tenant with delayed cable TV hookup (cable was included in the lease). Appropriately, I bought him a Blockbuster card. He was so amazed and grateful for the gift, I guess not many landlords do this kind of stuff.

If you have an older SFH will secondary suite, note that the water pressure and hot water supply may become an issue if you have too many water using appliances used close to the same time. For that you may consider adding second HWT or tankless. If I had to choose between a guaranteed hot...

Would this scenario be legal? * Current owner occupant has mortgage trouble and cannot re-qualify for a mortgage today. Current owner has lived in property many years and has built up equity (let`s say 25% of current value). Current owner would like to keep house and stay. * Investor sets up...