Hey - I don't know if this is just the norm but where are all the halfway decent property managers in Kelowna BC? If anyone has a contact I would greatly appreciate it. Been through two now and starting to get frustrated! Thanks

Thanks a lot - you are exactly right. My insurance company said that I needed to speak with the city to see what happens if the unit does burn down. Can an 8plex be rebuilt or will it have to be a 4P? Hoping to get an answer from them today!

Hey everyone - I have a lead on an 8 plex and it is listed as a legal/non conforming. From what I am being told, at one point, the zoning supported the 8 plex but now it doesn't. I am contacting the city to see if they would grandfather the 8 plex. I am new to anything over a duplex so...

I was under the impression that ALL fixed terms leases were going to end - with the exception of short term rentals that are your primary residence. That means that all fixed terms leases will be rolled into month to month and the tenant cannot be evicted at anytime, unless they breach the...

Thanks for the info. I have heard conflicting info - some others have mentioned that the score change happened within days of the bank sending in the required docs. Maybe it was just really good timing for them - we will just have to wait and see! Fingers crossed!!

@Martin1968 - yes I have already gotten confirmation from my A lender that as soon as the score jumps 20 points its a done deal and they will take it over. I had a heated meeting earlier this month with the manager from the bank that made the mistake - and all the proper documentation has now...

I am not sure if this applies to this situation - but what if their friend had paid a PM to get the unit rented? And now has to pay again to get it re-rented? Would that financial loss not be the responsibility of the tenant?

Thanks for the info - yes this is a very short term thing - 2 months max at the 8.5% rate then back into a traditional rate of 2.6%.

Due to a recent bank error which saw my credit take a dip - I am possibly being forced into looking for private money to fund my latest deal. I have never been down this road before, so had a few questions for the experts out there. First - is a 3% fee/8.5% interest generally the going rate on...

I spent 32 years in Kingston and just recently sold my last condo there a a few weeks ago. I have been living in BC for 8 years now so my knowledge of the market is limited, but I have heard that it is picking up. Kingston has always had very slow and steady growth. So many public service...

Thanks Cory!

Yes I feel quite comfortable investing here in Kelowna. For sure there are better opportunities out there, but for my plan and vision, this definitely fits the bill. Your numbers are bang on. Just shy of $1000/mo as of now but $1400 as I handle the management side of it. As for the bottom...

I did not know this until today! Thanks guys

Hey Matt - this post really threw me for a loop - so I did some digging. When I said NOI - I am including the borrowing costs in there as well. The $1400 net for me was all of my borrowing costs + taxes + others less my total rent. I just noticed that NOI in the real estate world excludes the...

Good to know thanks for the info! The $1400 net does include taxes/insurance etc. I do my own PM so that would be included as well. It doesn't need any repairs as it stands but yes those if and when they arise will knock that number down. That's with 20% down.