All Forum Posts by: Roy Cleeves

Thanks Cameron - my Florida Realtor is making some calls and then I will get back to you if he has something and introduce him to you.  Cheers. Roy

Hi Cameron

Do you have a budget in mind?

Does it matter to you what area of Florida the business is in?

Thanks

You may need to find a way to add more units to a home so that you get to the point where you have positive cash flow. 

Best Wishes

Hi Lubica

From your post it seems important that you first decide if you want to move your residence out of BC.  As you said - your employer requires that you remain in that province.

If you plan to stay - then look for places in that province where the numbers can work even if it is more remote from the big cities.  Probably best to find something that can work as a duplex or more units.  That way you can house hack.

If you decide that you will reset your life then you have a lot more research to do.  You have to find out what work you could do in the other provinces that would allow you to move to them and still be gainfully employed.

Good luck!

If the numbers work but some more. 

If the numbers don’t create cash flow then pay them off. 

Hi Alex

Your HLOC is an excellent way to have flexible funds available for opportunities without locking into a long term or a set rate.  It will not affect the cost of your insurance.  If it does then change insurance companies.

This is really an accountant question as to how you can structure to use your RRSP's as an investment with it still being arm's length away so that you do not get taxed on it until it is used for the purchase at the end of the rent to own period.

Best Wishes

Switch to commercial financing if you can and if your Networth supports it.

Then they will approve you based on that instead of your income.

Hi Jim

I have found the PRO membership very helpful.  You will have access to a lot of tools that will help you assess each property.   

Even with the free membership, you will find a lot of great information to read and you can become a PRO member anytime.

I hope that helps!

As long as the numbers work then it would be a great use of your equity.

And the best way to take it out would be another numbers review. If you do LOC then you only pay back interest and may have a lower monthly payment for this to create more cashflow from the student housing investment. These are always variable interest rate.

If you do a mortgage, then you could do a fixed interest rate for a set term of say 3 or 5 years so that you always know what your payment with be and this would also pay down some of the principal at the same time.

So work the numbers and Good Luck!