All Forum Posts by: Michael Icban

@Jack Orthman thanks for your time reading and responding. I get the point. Income would not be the problem because me and my spouse are both employed full-time and above minimum. Perhaps it is the cashflow and the equity. I guess to do nothing and wait will be one option?! Or do anything to somewhat fix negative cashflow?

Hi there. Mike here, a newbie. I just have some quick questions about increasing my property's value. The scenario is this: I have my first investment property bought 2018 in Winnipeg, Canada. Needless to say, a duplex. Both units are tenanted currently. Issues are, I am having negative cash flow and the property doesn't gain any equity yet. Now, I am making a move toward my second investment property and so I did go ask banks for a loan, I have consulted mortgage brokers and other lenders but none of them seems to give me any loan yet. My plan now is to have some upgrades on my property but I am currently away from it, we just moved out of the province. Also, I wanna do it soon and while it is tenanted. Do you think upgrades on landscaping is a good idea? Or do you have a better one? If ever upgrades or updates was done, how long you think would it take for it to be credited on my property's equity? Thank you for taking time to read it. Cheers!

@Roy Cleeves thanks for the info

@Frederick P wallberg thanks for the info.

@Roy Cleeves thank you so much for this

Hi there. I just have a quick question regarding mortgage. Do you have to go through default mortgage everytime you put less than 20% on the downpayment regardless if you're first time home buyer or it's for your 2nd/3rd/4th etc. property? Thanks.

@Frederick P wallberg thank you

@Maksu Ize I just need advice or suggestions for my next steps

@James Park hi James. How do you manage your property outside BC?

Hi there. I'm Michael, a newbie here. I just wanted know something about Canadian Real Estate. I'm been living in Canada for the past 5 years and a half. I got one property in Manitoba but currently residing in B.C. and renting.