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Apr 24th, 2022 3:03 pm
Planning to buy an investment property (townhome-2000 sqft) near Barrie south GO. After 20% down payment, the estimated monthly mortgage will be $3500. Closing will be Jan. 2024. Based on previous lease data research, the monthly rent ...
Mar 22nd, 2022 11:51 pm
I've been approached by an associate to be listed on the mortgage application + title for a rental investment property they have already signed to purchase. I'm simplifying here but basically they want no money from me in any capacity. They just need me (and another associate) ...
Feb 24th, 2022 3:38 pm
I know no one has the crystal ball, but just wanted to get some opinions/suggestions. I'm thinking of buying my 3rd rental property (~ $500K). I currently have 2 townhouse condo rentals. Basically I have 2 questions. Should I buy now or wait till later this year? Where should I buy it? I'm open to a...
Feb 5th, 2022 10:21 pm
been awhile since last looked at tax rules concerning buying secondary property..in the market to buy a condo...already have paid off home..but just googled When investors sell a capital property for more than they paid for it, the Canada Revenue Agency (CRA) applies a tax on half (50%) of the capit...
Feb 3rd, 2022 6:35 pm
... I thought that taking out a HELOC count as debt, which hurts the TDS. It is also "borrowed" funds which I think cannot be used for investment property. Also, I read somewhere that I can borrow against RRSP since this is secured by an asset. Is this true and how much can I do?
Dec 19th, 2021 11:55 pm
Hello All We are in unprecedented times with continuous lockdowns in ontario. If you have any investment property/condo and you have an applicant infront of you that wants sign your lease but they work in the service industry (cooks, waiter, etc.) would you be hesitant ...
Oct 29th, 2021 1:45 pm
... have a couple basic questions regarding purchasing a 2nd property for investment (rental) purposes. 1. Do you always need 20% for down payment for investment property or can you ever do less? 2. Are you required to show proof of income (T4) to real estate agent or can you obtain mortgage your self ...
Oct 9th, 2021 4:06 pm
*What are the potential headwinds for real-estate market in the next few years? I am targeting areas in GTA with high immigrants rates. I am targeting new town houses only.
Sep 20th, 2021 11:54 pm
Hi, We are considering buying a house in Barrie, ON, renting it and selling it in 15-20 years. Any tips and advice please? Our realtor and friends gave us a little advice but I would not mind hearing a second opinion. - Is the city of Barrie lenient to illegal basements? We do not focus our search s...
Sep 20th, 2021 10:25 am
... is offering 60 months zero interest loan so I am thinking whether to pay this 25K now or take the loan. This needs to tie to my wish to buy an investment property in next one year.I will again go 20% down on that as well and have that money already( even if I buy the 25000 equipment right now ...
Aug 21st, 2021 11:56 am
Anyone here own any investment properties in Sault Ste Marie? How is the rental market out there? Any good property management companies/realtors you can recommend?Thanks in advance!
Jul 23rd, 2021 1:28 pm
Hi guys,Sorry guys if this has been posted before but I'm looking for more information to use a HELOC to buy an investment property.If I use a HELOC for the down payment, how would that affect my ability for a mortgage. Would the lender take my HELOC downpayment as debt?Thanks
Jul 15th, 2021 7:15 pm
Hi,I know the appliances should not be expensed but depreciated.How about the protection plan? Is it allowed to expense its cost if I decide to purchase it with new appliances?Thank you!
Jul 11th, 2021 8:24 pm
I know with Covid and rising inflation this may not be the best time, however have any of you considered purchasing an investment property in the US given the rising cdn dollar especially if it reaches par. They are still much more affordable then most Canadian urban centres. It seems ...
Jun 5th, 2021 10:01 am
I have an investment property (Property A) that is rented and I deduct mortgage interest at tax time. Given the increase in value in the last year, I am considering taking out a second mortgage and use the funds as down payment ...
May 24th, 2021 8:12 am
Hi, I'm looking to buy a pre-built house in Ontario as an investment. Other than the rebate offered by the government for HST, is there any other way for me to save on the HST? My spouse is not on the title of our current home. She would be able to move in to the house part time as she's going back ...
May 4th, 2021 7:06 pm
Hi Rfd peeps, I am about to sign an agreement for a condo roughly 620 sq ft in Waterloo. Price is $475k with parking included. 10 minutes walk from University of Waterloo. 1 bed + 1 den. The closing is in 2023. Maintenance 0.35 per sq ft and similar 20% by closing deposit structure. Apparently build...
Apr 17th, 2021 7:08 pm
Hello All, Here's my situation. 1. Closed on an investment property with a partner (50% joint) a year ago. Mortgage & Deed are under both of our names. 2. Mortgage renewal time, we can get a much much better rate if I get the mortgage alone w/o ...
Apr 17th, 2021 11:08 am
I have purchase new home. Our existing home is nicely upgraded. I have to make a decision of keeping it vs selling it. Because of low interest rates I am very much inclined to keep it. I have 1.59% fixed 5 year or 1.25% variable rate for refinance. I am very confused reading all horror stories for r...
Apr 11th, 2021 10:40 pm