Hi, My wife and I are moving to Nova Scotia and we are renting out our townhouse. My current mortgage is a 25 year amortization at Prime minus 0.75% making 26 payments annually. The mortgage matures in Nov 2013. Looking at the option/pros/cons of changing my payments to 24 annually...

I met recently with a REIN member to discuss options on renting out my current principal residence. Based on the numbers anyway you shape it the property would not cash flow and would not fit the REIN model. As of right now it would probably be -$200/month! He stated if he was in my...

I am looking at moving and renting out my current property. Currently we have a 25 year amortization, variable rate of prime minus 0.75%, and are making 26 payments annually. Once the property becomes a rental property are there there any draw backs (are we even able to) change our...

Thanks Thomas, We purchased our townhouse in November 2008 for $315 000. There has been only one unit that has sold in the complex in last 6 months. There are 2 other units on the market right now that are listed from at $309 900 and $319 900.

This was in an initial meeting with our realtor and we didn't get into all the details. They just made it sound like they could look after the property for us if we decided to move and rent it out.

I will be attending ACRE this weekend and one thing I would really like to focus on would be to identify/ find a property management group for my current place when we potentially move. Currently our mortgage+condo fees+property tax = $1522/month. There are 2 other units in my complex...

Thanks Garth. The ship building along with the Shell offshore drilling make it a great time. Since the ship building deal was announced last October things have already appeared to pickup as it will be approaching that 12-18 month time line. As I am very new to this I must learn/study...

Thanks Sherilynn, I appreciate the info. What you suggest also seems to be the theme of everyone else's responses. Understand your area, build your team, and go from there. Thanks. Kim

Thanks for the help Thomas. Right now I live and own a town house in Royal Oak that we have been in for just over three years. Ideally when we move I would like to keep this property as my first rental property. I hope to build my team and have them in place by the time I fly to Halifax...

Thanks for the response Brett. I am not looking to rush into anything until I am ready and comfortable like you mentioned. I currently own a townhouse in Royal Oak in the NW. I think ideally I would like to hold onto this property when we move and have that as my first rental property...

Hi Shantha, My wife and I look forward to meeting you at ACRE. Kim

I am new to REIN. I have read Real Estate Investing in Canada and in the process of reading two more of Don's books. I attended the last REIN monthly meeting in Calgary and will be attending the ACRE Live in Calgary next month. Getting started in this I am looking to gather as much...