What have been reading and what's in your emails?

Our economy is one steaming pile of debt. I already posted the links to the evidence. Please don't think there isn't a snowball of corruption and greed happening at CMHC, BANKS and GOVERNMENT levels.

Our Canadian Politicians are being recless and irresponsible by allowing this to get to this point and perhaps beyond to satisfy the banks greed to sustain their lending. To cool things off, Canadian banks need to take a breather from their profits and aggressive lending...

No Worries Maxim..... I am with you. Rickson professes to be an know it all internet keyboard warrior. Supply and Demand is only relative to the market at a given time. This absolutely does not give any indications whether a commodity is overpriced or in a bubble. over the long...

The cap rates on the newlyconverted illegal plexes is 60% better. They yield caps as high as 8-9%. The property taxes are less too since they are taxed as a single family home. This is why It's big business. What's the incentive to buy a legal plex and pay a high price for a lower return to...

Wow! You are not really looking then. Just look at the MLS! Downtown Torionto is full of illegal 3 & 4 plexes. I would say 99% of what is listed and sold are illegal. If it does nor say it's legal, it is because illegal! I spent a year looking for a legal one and know foe a fact the majority...

I will never agree with Thomas and his likes on this. I was investing and selling commercial/investment real estate when interest rates were 13% and quite the opposite occurs. Rents do not go up they go down. It's astonishing for one to believe that rising rates ONLY affects the few who are...

I am shocked at how few people actually complain. I can't imagine owning a $700,000 dollar home in downtown Toronto and some investor buys next door and chops the house up into an illegal 4 plex contradicting the bylaws. Yet, this must be exactly what's going on all the time. Canadians are...

Their belief is they cannot be shut down (at least in downtown Toronto) because of the shortage in rental accommodations. I tend to agree as I don't see a way out of the rental shortage situation. These chopped up houses are one step up from illegal rooming houses.

JohnS; if your favorite party can provide all these entitlements and balance the budget while not increasing taxes an preferably lowering taxes I am all for it. They have enough to work with would you not agree? Trim the fat, cut out the corruption and there will be enough to satisfy your...

Liberal MP  Glen Pearson admits that his party has no plan to get Canada out of deficit and balance its budget. Again the liberal show their true colors as tax and spenders who rather transfer money from your pocket to the government coffers...

It's not that it's easier, it's that it happens to be accurate. Just like you did silly or stupid things like vote NDP they are doing the same thing. Money does not fall from the NDP or the LIBERAL sky. Canadians for the most part, are well taken care of and overly taxed by our governments...

I feel Canadians are socialist suckers who continuously want the guvmt to take care of them. Yes very low IQs.

I have friends and clients who are adamant that the City of T.O. Cannot and will not shut them down.

Landlord licensing may be a good idea in Ontario to curb the illegal suite epidemic. Rewarding the good and legal landlords. It's only $1.50 per month per suite.

Illegal suites are an interesting topic. In Downtown Toronto, over 90% of the 3 and 4 family homes are simply houses converted to 3 and 4 apartments, one apartment for each floor and because they still qualify for residential rate mortgages they are very attractive investments. The returns are...

Why sell a cash cow? Especially if it's a good one and you worked so hard to acquire it and pay it off? Unless you are trading it for a better cow! A very wealthy 70 year old concrete laborer who personally owned multiple properties of land, multi family income properties made this statement...

Micheal, obviously my post was not geared towards the few 25 year olds in this thread. So, no, I am not missing something here. I commend you for starting so young. Keep it up and I wish you luck.

What am I missing here. How is a tiny reserve fund of 3% of purchase price going help as a reserve fund for a 5 year hold?

I think 2 things are happening here. Posters are assuming that price appreciation is a given/guaranteed for the next 10-20 years of their lifetime and they are underestimating how difficult it is to paydown debt should they need to. Our government has repeatedly warned that Canadians should not...