All Forum Posts by: Nes Canada

4 houses. In the same province but 50kms away from my residence. Canada’s new stress test 2018 has made it tough to acquire more properties using traditional methods and hard money loans will eat up most if not all your margins

Mazin El-Achkar all our properties are in BC and we only use interact for payments

Tenant cloud

Up here in Canada we use e-transfer. The deadline for payments is 12nn of the date they moved in every month, typically 1st or 15th. We have an addendum that is signed that states late payments are $5 a day and the BC tenancy law applies if rent is late which may result to eviction. I heard somewhere that you can create good tenants and it needs to start with discipline with process and system for them and for the landlord a little welcome token or a birthday card or holiday greeting.

@Chris Chang 

Vancouver here

Thank for all the response, I sincerely appreciate it.

Hi I have listings on Airbnb and VRBO, for the past couple of months 2 inquiries were received from VRBO and I was fully booked on AIRBNB.  Speaking for myself VRBOs interface isn't straight forward, sending a request for payment to a customer makes me irk a little.

Hi Guys!

Can I please get some help on a deal that I closed on but haven't removed subjects yet. 

Property Value: 184,000

Down-payment: 35% (2.3%@ 25years) =$282.25/mo

Balance Mortgage: (2.49% @ 30 years) = $471.15/mo

Property Tax: $100/mo

Strata: $200/mo

Total Expense : $1053.4/mo

Market Rent = $1000

Loss = -$53.4/mo

Now here's the question, I'm not sure how other cities/states do it but in BC  Strata, Property Tax, Property management, utilities and interest rate on purchase are tax-write offs, so in my thinking

Annual Expense = $12,640

Annual Rent =$12,000

Tax Write off = $3,600 + (Interest rate pro-rate)

Income after write off= $2,952.2

Please let me know if people actually compute it this way or if I make sense at all.

@Ming Lim

Every person i guess is the center of their own universe :)

@Rob McFarland

Thank you! it's been a great ride, im on my way to getting a second one soon. Im forecasting 3rd will be a bigger bump since I may not be able to get a traditional mortgage for that one.