All Forum Posts by: Jonathan Leblond

Hi, I looked at many different banks for the managing of our rentals. Is it worth it to have different accounts for each building? Northone offers the option to create unlimited sub-accounts for free with the 10$/month option for the main account. It seems like an interesting option to simplify everything. Anyone here is using them?

Thanks

@Roy Cleeves

It was indeed the easiest way to transfer from one account to another. With my bank they charge a 15$ fee for a SWIFT transfer or 4$ for direct deposit. The first one takes from 0 to 24 hr and the second one from 0 to 48 hr.

Welcome, Calc tools are good and a lot of great info with the pro. If after a while you're not using it, you can cancel your pro account but still worth it (at least for a while and for the calc tools) for us canadian. Especially if your investing in the US.

Thanks, I think they spoke about it in show 64. I'll listen to this one again. Thanks for your time. It makes a lot of sense. It all comes down to a risk tolerance question issue. I'll try to connect with insurance broker in the Albany Ny region to figure it out.

Hi, I need help with different type of insurance. I think I heard on a podcast that you can insure only the value of the mortgage for a rental. For example, 

1. The building is bought for $200 000. 

2. The mortgage is $160 000

3. Reconstruction cost estimated by insurance cie $600 000

Can I get insurance for only $160 000 or $200 000 instead of $600 000? Or can I get something in between? The idea here is to save on insurance cost and if something happens we would just put the money in another deal instead of building it back. On a small scale it might not seam like a good idea but on a big picture a lot of insurance cost could be saved and the risk to lose everything is not that big. I tried to find info on BP but I don't remember on which podcast I heard something like that or where I read it. Insurance cie seems to say there is no other way to set the insurance than the $600 000 value.

Thanks

Thanks all I'll have a look.

Hi, I found a partner in the US to buy some rentals. I want to transfer the money from Canada to USA so he can pay for the cash down and all the fees. Anyone have tried online money transfer cie to send money from Canada to USA ? Which one can be trusted ? Some have really high fees compare to other (especially banks unless negotiated). And how long before the money get accessible in the US? So recap:

1. Bank to bank vs online transfer cie to bank ? Or something else easier to transfer the money quickly ?

2. Reasonable fees for amount between 20 000$ and 100 000$ ?

3. How long to get the money accessible in the US ?

Anyone on BP who does that?

Thanks all for your help

Hi, I know this tread is old but i'm wondering if any other option exist today? Anyone have tried online money transfer cie to send money from Canada to USA? Which one can be trusted? Some have really high fees compare to other (especially banks unless negotiated). And how long before the money get accessible in the US? So recap:

1. Bank to bank   vs  online transfer cie to bank ? Or somehting else

2. Reasonable fees for amount between 20 000$ and 100 000$

3. How long to get the money accessible in the US 

Thanks all for your help