For 5% down you’ll need to make it your primary residence (upstairs or down) or possibly find an extremely investor friendly lender who would allow a vtb up to 95% (I think 90% is max still but I’m not positive). Good news is that suited houses often cash flow quite well. I do 3 up 2 down double...

Canadian Banks are going to want 2 years of Canadian taxes before lending likely. That’s the big banks anyway. If it were me, I may combine the two, buy a great place with a basement suite and live in one part of it and rent the other. This would get you in at 5% down instead of 20% for a...

Personally I wouldn’t use the word “boom” wrt oil anytime in the next decade. Possibly never again. I would expect almost any fed government going forward to be better than current one (for the west i mean). Is any future potential gov going to look at the current policy / performance and say...

This right here is SK and AB in a nutshell going forward to 2021 if you add in value appreciation and say “most” property types. Sent from my iPhone using myREINspace

Nah, all good discussions. We’re off topic by a long shot by now anyway! If we’re ever at par again (once every 40 years so far doesn’t have me hopeful) I’ll make another trip to Vegas and grab a truck, trailer, 6 skidoo’s in Denver on the way back and turn the profits into a condo in a warm...

I’ve set my google alert. Sent from my iPhone using myREINspace

Im not against self managing at all. Full disclosure, I self manage 13 units currently from 4.5 hours away. But I spent a boatload of time setting up the systems to do it so that when I had 9 turnovers last year my time inputs were minimal. I am absolutely opposed to overpaying and making the...

I honestly see SK as very little risk for most property types currently. Very little near term upside too though. Just my thoughts from the flatlands of the green & white. Sent from my iPhone using myREINspace

Very common it seems with sfh’s especially for those who get over eager after drinking the koolAid. Pricing yourself into managing something is generally counter to the goal of investment real estate. Although not always, some people are actually wanting a part time job. Doesn’t help that...

Buy a principle res that requires some reasonable cosmetic upgrades. Complete upgrades while renting out at least one bedroom to offset your costs. Refinance when your equity boost allows and when projected rent will cashflow nicely overall. Then buy your next principle residence and make your...

It’s true, not worth a ton of time. But a strongly worded letter MIGHT get you May rent (if they can afford it). Get it advertised, press as hard as you see fit to get them to waive their dd and/or pay rent for May / June etc. Prevention > solution Sent from my iPhone using myREINspace

Renewed lease = legally binding. Be sure whatever form you had them sign is in line with the local Act. From what you’ve described, you can enforce the lease & they’re on the hook for it until you find a new renter. Get it advertised immediately. Sent from my iPhone using myREINspace

Advertise today. Now. When you’re done reading this. IF you have a fully SIGNED lease agreement extension inform tenant you will do you best and have already listed it on rental sites but that you have a signed and enforceable agreement in place. Let them know you plan to enforce it as the law...

At even up % wise there’s still the benefit of flexibility and much lower discharge penalty for variable. Counter: At even up % wise there’s the added security with fixed. Personally, I still see it as a 2:1 advantage for variable. Cripes at $30B deficit lately this country can’t afford...

Fix the toilet. Replace the flapper while your in there regardless of if it is leaking as they only last a few years before they warp anyway. Personally, where I live, I would give him zero discount. From the sounds of it there’s ~4+ people living there who apparently decided that the running...

If existing leases do exist, clearly put in the offer that you require them within 48hr of accepted offer. Emphasize this with your realtor and theirs. Always use a tight time frame to avoid getting docs required for financing at the last hour (or never).. Sent from my iPhone using myREINspace

If there is an existing lease in place they will ask for it. Always negotiate access to show prospective tenants and contractors after removing conditions. I managed to squeeze through signed acknowledgments of rent and damage deposit in place of leases with a disorganized seller on one...

At what scale approximately would you consider it worth the time Thomas? At what expected roi/ value bump? Sent from my iPhone using myREINspace

Would you ever buy a controlling interest and revert a small condo bld to a multi in either market Cory? I’m talking something like the 9 unit buildings over by Avalon mall. Sent from my iPhone using myREINspace

Interesting thoughts. I try and put it in perspective from the SK market I’m in and it’s similar but not quite the same. Saskatoon has approved and overbuilt so many condos of all kinds that combining that with the conversions from ~2007 and there isn’t really much for replacement multi family...