All Forum Posts by: Account Closed

@Nam Trang

Market dependant. I get $100-150 monthly for a dog, $50 for a cat. And cats suck.

@Danny Keating

Responsible leverage. That first word is the key. If you’re leveraging over 80% at the start your chances of legitimate long term cash flow are very slim. Cautious & responsible.

The opposite approach can be found daily here in all the “help, I can’t refi and my hard money loan is 16% interest, what do I do?!?!” threads.

@Tashina Taylor

This is why the BP branded pamphlet on brrrr is a dangerous document. Ingredients aren’t the only thing that makes the bread, sometimes it’s the way you massage the dough.

@Conner Daniel

Figure out what you’re willing to pay, write that offer. Expect it will be declined and when it is, move on. End. Every property has an investment value, sometimes that value is zero or even negative. Just work the numbers and if it’s a “no” find another.

@Jaz McWilson

What you can do is a much longer list than what you should do. Fix your credit. Continue to save while you do. Reading is free with a library card.

@Scott Kunz

You could manage this sort of thing easily enough inside of Asana. Free.

I would likely approach it as “when a task is assigned to you please reply within 1 business day if you CANNOT complete this. Otherwise I will assume you can”

@Ryan Martin

You’re welcome. Here’s hoping it brings you all the funding you desire

@Ryan Martin

At an absolute minimum you should include the following.. and this is off the top of my head based off what I did I February 2020.

-Personal intro

-3 x full tax returns (newest to oldest)

-Employment letter

-90 days pay stubs

-3x NOA’s

-3x T4’s

-Tfsa statement up to date

-Rrsp statement up to date

-Credit card statements 90 days

- All accounts, 90 days statements

-DCR worksheet pre filled for them

-Annual mortgage statements for all properties

-Monthly revolving statements (90 days) if heloc applicable

-property tax docs

- all leases divided by property

potential property info:

- accepted offer to purchase

- agent view of listing

- city zoning map, highlight property

- city address map, highlight property

- monthly cashflow analysis

- 3x renovation quotes

- ARV comparables

- recent title

- PCDS

- all current leases with acknowledgments of values

- latest cmhc rental market report for the area

Keep things in a 3-4” binder, keep it organized with a table of contents and labelled dividers. Keep documents in the same order throughout, meaning, 99- 5th avenue comes first in each section and 22- 9th street comes second in each etc etc. The table of contents is important, don’t throw down 250 pages of docs without one. Pull your own credit and include if you’ve got a transunion or equifax membership but they will pull it also.

Good luck!

@Russell Butler

Standard GC upcharge out west here is 20-25%. That said, you’re standard half capable human won’t save nearly that much the first time. There’s a learning curve. And depending on you’re background it may be a steep one.

@Russell Butler

0% chance they hit this target. Especially with 2021 being a medical write off.

Aside from that, with recent legislation in Quebec, I would expect a downward shift in % that settle there.