Thomas, I was trying to find out why there would be no annual filing required in my case? Is it only because there is no cash payment? Thank you!

Thank you Thomas! It looks like having a Canadian corp is the way to go and if there is no annual filing, the cost will be minimal.

Hi, I am interested in investing in a JV with 2 other family members. Both of them are from France. What would be the best way to do it? Through a Canadian corporation? Since I am a Canadian resident, what percentage of down payment would we need? Thank you ! Eric

Thank you so much for your answers Thomas. I was really on the fence wether or not I should keep the company or dissolve it, but I guess it makes more sense to use it for R.E investments! Now it is just a matter to change the name and the articles to go from restaurant industry to real estate! Eric

Thanks for the quick response Thomas! As it is a BC corporation, would I be allowed to use it to buy real estate in AB for example? Thx!

Hi, I guess I have a pretty strange question: I own a corporation (Ltd) in BC that used to own a restaurant and after selling all of my assets, I have now a pretty big loss of $150K with this company. I am planning on buying real estate investment within the next 6 months (used to be a REIN...

Hi everybody, Just wondering if any of you in the Vancouver area are thinking of listing your rental for the olympics. I am torn right now as I have a great location, 1 bedroom in Yaletown, 2 blocks away from BC Place but I would have to furnish the place and it is not for certain that I will...

Hi everybody, I have a condo in downtown Vancouver (Yaletown area) with a very good tenant (not a single problem so far) but the 1 year lease comes to an end soon. I was wondering, under the BC regulation, what the max rental increase percentage could be ? and if for the one who are familiar...

Hi, I have been a REIN member since february and currently own 1 rental in Vancouver. I might be moving back to France for a few years as I am french and I have been in Canada for over 4 years. I would love to keep investing in real estate in Canada while in France but as I am not gonna be a...

Hi, For BC Lease Agreement, do you usually use the one available in the member ressources as it seems to be more specific to AB? or do you have an online website to recommend? Thank you Eric

Hi, I have a quick question. I have to meet 2 potential tenants for my condo in Vancouver in a couple hours. I will do a credit check and criminal record check through Rentcheck, but they are still processing my application. Do I absolutely need a form from Rentcheck for the tenants to fill...

QUOTE (C2Ventures @ Apr 19 2008, 09:49 PM) Yes a "reserve fund" is VERY important to incorporate into every purchase. I would suggest 1 month`s rent as a minimum. In some markets we are putting 2-3 months rent in a bank account as a reserve fund just to make sure. I would also suggest putting...

Hi, Does any one of you put a certain amount in the bank account for each property as a safety net in case you need extra money for repairs or suite not rented...? Would it be 1 month of rent or more?? Thanks, Eric

QUOTE (bluerockgroup @ Apr 6 2008, 06:24 PM) Eric, As that bottom drawer gets too full, here`s what I`ve done. For each property where there isn`t enough space in the drawer, take and create a new empty folder and label it with the address PLUS the words OVERFLOW. In this file, make a table...

QUOTE (DonCampbell @ Apr 6 2008, 05:28 PM) These go in the "Permanent File", bottom drawer. Thanks Don, so it goes in the blue file. but after a few years, there is a huge stack of strata minutes. might need a few blue files! Eric

Hi, I have a question regarding the power paperwork system and the 4 colors folders. Where would you keep your strata minutes (quite a few to store), mortgage docs, property tax, property assessment.... It doesn`t seem there is a file for these, and that might take some space. Thanks, Eric

QUOTE (NVenter @ Feb 18 2008, 12:48 AM) Hi Eric, I attended the REIN workshop in Vancouver this past week end and met up with the law team that works with REIN members - Welwood.Wiens.Warkentin 604.850.6640 Vancouver Direct: 604.657.1833 Fax: 604.850.6616 #305-2692 Clearbrook Rd. Abbotsford...

Hi There, Could anyone recomend me a good lawyer/notary specialized in R.E in the lower mainland? (preferably a REIN member) It is for the purchase of my personal residence in Port Moody, but I could then have him work with me for my R.E investments. Thanks, Eric

QUOTE (thomasbeyer2000 @ Jan 26 2008, 11:25 PM) most RE investments provide LITTLE income in the early years .. but decent equity upside ! a business often provides decent income (i.e. you buy yourself a job) .. but little equity upside ... i.e. hard to sell ! ==> WHAT DO YOU WANT ? Equity...

Hi everybody, I would love to have some comments regarding my situation. I have always had small businesses (retail, food...) and I just sold my last business a few months ago. I have a small amount of money from the sale of the business. I could buy a new business but in this case this would...