QUOTE (JimWhitelaw @ Apr 2 2010, 12:56 AM) User CP --> Edit Signature I looked in user CP again and figured it out. thanks

How do I add a link to my Twitter and Facebook page? I can`t seem to find it in My Controls... -- Chung

QUOTE (JimWhitelaw @ Feb 12 2010, 05:30 PM) My buyers come from three sources: 1) An ad I placed in Kijiji - "Handyman Special". Got responses right away and continues to get me interested buyers. 2) People already in my network that are interested. 3) Another investor I know that has...

QUOTE (JimWhitelaw @ Feb 8 2010, 02:01 PM) I`ve had some good success finding rehabbers looking for fixer-uppers to work on. My problem is now they`re bugging me every other day for more houses and I don`t have any. If you`re locating "ugly" properties that need some work, please contact me and...

QUOTE (jhoper @ Jan 18 2010, 05:05 PM) Taking on existing tenants can forsure be a battle. I have bought many properties in Edmonton and in Grande Prairie where there have been tenants in place and for the most part they have turned out okay. I always go into the deal wondering why the owner is...

QUOTE (AndyLuchies @ Jan 23 2010, 02:38 PM) Are you serious! The mortgage lady at Scotia (where I have my principle residence mortgage) told me they don`t do rental properties!!! When did you get your mortgage with them? My realtor has 2 rentals with Scotiabank (got 2 years ago) and is in the...

QUOTE (AndyLuchies @ Jan 23 2010, 02:32 PM) And your other point is just as important: How quickly will the banks start saying no if you only put 5% or 10% down on each property. This strategy is fine if you want to stop at 2 but good luck getting financing after you've maxed out CMHC's high...

QUOTE (fumbrunner @ Jan 22 2010, 11:17 AM) 1-4 suiteshttp://www.cmhc-schl.gc.ca/en/hoficlincl/m...se-03-27-09.pdf 5+ suites http://www.cmhc-schl.gc.ca/en/hoficlincl/m...uideDec2009.pdf Thanks for the docs, I`m referring to 1-4 units. I checked both docs and there`s no chart showing CMHC...

Jason, I tried finding those rates on the CMHC websites but couldn`t find anything for rentals. Is there a link or do you know what it is right now for 10% to 15% down over 35 years amort. Thanks in advance, Chung

QUOTE (fumbrunner @ Jan 20 2010, 04:22 PM) With those details, I suspect it will be virtually impossible for your broker to find an institution that will finance your purchase. your length of employment is an issue. your income level would likely lead to high debt servicing ratios. I suspect...

I appreciate that. As long as I`m honest and tell them where the money came from, and provide them whatever document they want, it should be no problem. And to keep you guys informed... Removal of my conditions is tomorrow and Still no financing..I am having my realtor extend the condition...

QUOTE (NiagaraInvestor @ Jan 18 2010, 10:23 PM) Also watch out for the bank holding up the cash and reporting it to the CRA.. Anything over 10K coming from overseas and they have to account for it.. This may hold things up. How would they account for it? make me pay taxes? QUOTE...

Closing is Feb 24...delaying it for another 2 months probably won`t work.. My parents don`t have good credit..but I do...any other way it`ll work? What is they were just someone who provided the downpayment as a JV partner? Would that work with CMHC? Is there any way this could work...

QUOTE (RobMacdonald @ Jan 18 2010, 03:51 PM) There are not really any options for a gifted downpayment under the CMHC program. All lenders are going to ask for a 90 day history to show that the funds have been in your possession in order to determine that the down payment is not a gift. The...

Godfriend, Thanks for sharing your experience. How come you weren`t able to evict those tenants as soon as you found out how bad they had damaged the place? You said, you tried to inspect the place with proper notice but still couldn`t get in, is there a way around that? get the sheriff to...

QUOTE (MikeMcC874 @ Jan 17 2010, 06:14 PM) If the closing is on the 4th of the month and the month has 30 day, you are the owner for 90% of the month and the old owner 10%. With a $3000 monthly gross rent, you would get a $2700 adjustment for the rents the previous owner was to collect on the...

Hi, all Trying to get Financing by condition date: Jan. 22, 2010 for my first rental property (4 plex in Halifax, NS) and my mortgage broker just told me that CMHC will not accept a gift as a down payment. Sale price 408k I`m putting 10% (most I can put down), amort 35 years. The down payment...

Thanks to all`s helpful hints and suggestions. QUOTE (thejules @ Jan 17 2010, 10:49 AM) The amount of cash required to close is lowered by the amount of cash there is on file that the seller has collected for last month`s rent, & the amount of collected rent for the month in which you are...

Hello, I`ll be closing on (my first property) 4-plex at the end of next week and it`s fully occupied and 3/4 tenants have a dog and cats. Since tenants are the assets, I want to make sure I have the right ones. Their lease is not up till June and August 2010. As much as I want to have the...

QUOTE (aaronmoore @ Dec 9 2009, 05:18 PM) Hi Chung, If the property is listed on MLS and there are already 2 offers, then the seller (the bank) will want a buyer who closes fast, has financing already available, and gives a big deposit. If it`s truly a great deal, then one of the competing...