All Forum Posts by: Tyler Stiller

Where is the property located?  Are there any duplex or triplexes in the area? 

Have you talked to a realtor in the area? 

For example, are you allowed to get a pay stub, letter of employment? 

For the application, does anyone know what you can and cannot ask for, to supplement the income? 

This really worries me. Personally on my properties, I hire someone to take care of snow and ice on a contract. 

I also carry umbrella insurance policy. It is so cheap and covers a lot of liability incase someone sues you. 

I use STESSA. It is pretty good, you can scan receipts with your phone, have pretty reports, hold tenant documents, mortgage documents etc. in it. AND IT IS FREE. 

It was built for landlors and property management. 

Hey Cameron. So Tfsa is always great. RRSP will give you tax savings, but will give you access to the RRSP first time home buyer! But you have to pay back over the year. 

If it were me, for simplicity sake I’d do TFSA savings in the mean time. One less thing to do after buying your first place. But If you make good money, it would give you tax savings this year. 

And to your point yes 5% on first $500,000, 10% on the remainder amount is minimum down payment as per cmhc guidelines 

The one I bought in London, it was in rough shape. Some water damage, old nasty carpets and kitchen. 

It was same process to working on a house. The condo Corp didn’t put up a fuss about anything. 

I picked one up this year and love it, it’s Been a great investment so far. I don’t mind the condo fees. It is a townhouse condo.  The fees cover snow removal, lawn/garden maintenance, parking lot repairs, fence, doors, windows, roof. So I figure I’m paying for those one way or another. 

I think most people don’t like condos because your condo fees could double next year, but you can’t double your rent next year. 

@Amy Z

There are definitely lenders that allow more than 5 doors.

@Amy Z

I’d be happy to talk with you I am a mortgage broker and have access to a ton of lenders and am sure I can find you a lender that meets your needs. Feel free to PM