Hi Matt, All good advise above by seasoned veterans. I believe strongly in the refinance scenario but you have to consider all the costs as outlined above. Usually I refinance around the 70% mark. This gives me a cushion with regards to positive cash flow and DCR. Either way you must...

Hi Ken, I am not an accountant but I believe you can also carry forward losses to future years if you do not have any gains at this time. Not sure if you can transfer backwards. Best to contact an accountant for these matters. Regards...Randy REIN Silver Member REIA Level II

Hi, As a property manager out here in Ontario I must say that all my leases are between the tenant and the respective property owners. I am but an agent signing the lease on their behalf. Upon tenanting we put together a tenancy package for the owner and mail it out to them including the...

Hi Tudor, Always fairly priced let me know if I can help.

Hi David, I have done it for my clients in the past. However not through the purchase. Rather they owned the property at the time. I have placed offers to purchase before based on obtaining vacant possession, all legal and above board with respect to the LTB and offers of purchase...

Hi, What area town/city are you looking at buying into? I know here in Hamilton of a couple of realtors that are very good at finding these types of properties. Maybe the city/town you are looking for has similar experts? Worth asking around. Regards..Randy D.

Hi Jose, If they have vacated the property and you are totally sure of that then your best bet is to move on and count your blessings that they are gone. Clean up the property, perform due diligence on the next tenant or hire a property manager to do likewise, and get your next tenant moved...

Hi Greg, Just wondering if your comment about the seller not being able to evict on behalf of the purchaser is from personal experience as the LTB website provides the following forms for eviction; One of the following people wants to move into the rental unit: myself or my spouse, my...

Sounds like you are well on your way. Congrats! You may also want to consider an RTO option. Even though the rents are lower in this area it does expand your potential customer base. Regards...Randy D.

Hi David, Congratulations on doing your due diligence. It sounds like a great investment. Only things to consider are; 1) In Ontario you must give 90 days notice to the end of the rental period. Thus if you give notice on March 2 say, with the tenant going month to month and paying...

I can't agree more with Wade. Best thing would be to start researching Provinces and Towns now. Make decisions about where you want to invest. Then start researching Real Estate Investors who are experts in that town. Choose an investor based on a JV relationship that brings value to the...

Hi Thomas, Love that phrase, return of your money. If only we could put some number to it. Say 90% ROfI means there is a 90% chance you will get all your money back. Associated with this is a 7% ROI. Certainly would allow us to make much more educated decisions on our investments. What...

Hi Peter, Gary Vandervelde is an excellent realtor and has been working with sophisticated investors in Hamilton for many years. His number is 905-518-5223. Erwin from rockstar realty is also excellent and a REIN member. For Mortgage Broker I would give Kevin Boughen a call. He can be...

Hi Adam, I agree with the posts above and would add those two questions. 1) Obtain at least three references from clients with similar properties, locales, and requirements as my own. 2) Will I have the final say in who is granted tenancy. My company also has an Interior Decorator...

Hi, I agree with much of the posts thus far. Although I disagree that Ontario is a bad place to invest. But that is another story. Big question is whether this property is in Ontario? Certainly 50K below market value is nothing to sneeze at. How much do you stand to lose though in...