All Forum Posts by: Account Closed

@Roy N. 10-4 Captain... Advice heeded

@Roy N. Thanks for the response. Yes I think a financial advisor would be helpful at some stage, but based on your post I don't think the extra cost is justified right now. Our resources are capped so our first few purchases (read as steps on the path) are fairly fixed and probably don't benefit from a planners input right now. I think a well versed accountant is the most important right now to ensure the first steps are executed in a manner that maximise our returns, and build a solid foundation.

Thoughts?

Thanks @Thomas S.

Can you elaborate further on why I would benefit from a financial advisor at this stage? Also any advice on best payment terms for an advisor; flat fee or % of, and the pros/cons of each

Hi everyone,

Myself and my girlfriend are starting our REI adventures this year, we've saved some money, and preliminary discussions with the bank manager sound very promising for mortgage approval. Prior to starting the mortgage approval process we want to get some insight into how to best structure our future empire. Canada offers so nice first time home owner incentives (GST waived, interest free loan on 50% of down-payment up to $37500) and we want to individually avail of these in turn.

This year we plan to first purchase a live-in flip until the seasoning period allows us to refinance or sell without penalty. I assume that we would have to have the mortgage under only 1 of our names, but the deed could be under both names in order to only use up 1 persons incentives? 

Looking for advice on the issue above, and also looking for advice on finding a good accountant and lawyer; further explanation on what roles they specifically serve to a investor; and what questions to ask to determine their suitability.

Best Regards, 

Tristan + Karen

Second on this. Also looking in Vancouver, BC

My girlfriend and I are entering REI together, so we will be looking to individually avail of all Government incentives. There is also this, but carries a longer required occupancy term...

http://www.cbc.ca/news/canada/british-columbia/int...

Hi all Islanders. Myself and my girlfriend are gearing up to purchase our first rental on the island in Spring. My girlfriend has family in Nanaimo so that has been where we have been focusing our attention for buy and hold properties. Although the advertised inventory seems low, recent drives to familiarize ourselves with the landscape (we live in Vancouver) show promise for potential unlisted properties. 

Is there an active Investors group on the island? Always keen to meet people and form a community locally as this site is at this stage essentially all American. 

T

I am just reading about this topic right now here, and seemingly a Yes if certain criteria are met.. Hope this helps

Thank's all for the responses. Being in Vancouver @Brandon Upright, I have to cast my net bit further afield to get into my price range

@Brandon Upright. Have you had any luck since your post. I am just starting out in REI and was trying to build an absentee owners list, which from what I understand a difficult task in Canada