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All Forum Posts by: Roy Cleeves

Roy Cleeves has started 2 posts and replied 668 times.

Post: Sell or rent out?

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

It all depends upon how long you can wait.   I think it would be better if you waited as long as you believe the market will improve in the future. 

Post: Grounds for broker fee refund on rental, Ontario

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369
Quote from @Ali L.:

@Roy Cleeves No chance. She told me contact a paralegal 😢


 Ok - so yeah no help there.  Maybe the Agent's Broker/Owner could assist.  Best Wishes

Post: Ontario Rental Property Investment

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Excellent.  I could recommend a great agent in London if you wish.

Post: Grounds for broker fee refund on rental, Ontario

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Maybe that same Broker will redo it for no fee.

Post: When to sell (Canadian market question )

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Hi Joanne

I think you are best to speak to a Realtor to get the numbers that you need.

I can connect you with a Great Realtor if you let me know what City the property is in.

Cheers,

Roy

Post: Ontario Rental Property Investment

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Hi Jonas

That is a challenge in most of Ontario Markets.  You might find that Windsor if that is not too far.

Or you could go Northern Ontario yet that might be getting too far as well.

Post: Finding a property owner in Canada

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369
Quote from @Sam Chicquen:
Quote from @Roy Cleeves:

Hi again

For property titles you will find that Realtors and Mortgage agents have access to websites that they pay for that give Iwner names.  

Sometimes these names are company names and that may be harder to get to the actual person that can make the decision. 

Best to work with Your Realtor of Choice and or mortgage broker of choice.  


Any chance someone without a license can get this information? I'm currently 21 struggling with the same issue.


 Yes - you can go to the land titles office and pay for each search.  I am not sure what the fee is now.

Post: Newbie Alert! Tax Question / Analysis (FIRST POST Whoohoo!)

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Hi Brandon.  Is this in St. Thomas?

If so rents may go up with the VW battery plant coming and creating 3000 new jobs.

It seems like a great way to get started.  You will still be making money because of the mortgage pay down each month and the appreciation in value over time.

It may not save you on your taxes as the income gets added to you unless you put it in a company name rather than you personally (which I would recommend).  You see, even though it is negative cashflow - you don't get to write off the principal pay down each month which is probably have of the monthly payment.  So in the end you are adding to your income rather than subtracting.  

If you set it up in a business name then you pay less taxes on it and you can write off many of your expenses that apply to your real estate investment business and that will help you personally.

Best wishes

Post: Rental Property in Eastern Passage, Nova Scotia

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Congrats!!  Great investment.  I agree with what you expect in the coming year in Eastern Passage. 

Post: Depreciation (capital cost allowance) on rental property

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

Yes - those two items are the factors to consider.

And maybe get some advice from your accountant.  See what they recommend.

Good luck