Last Thursday, we deposited a $17K bank draft (issued by another chartered bank) from my in-law's RRSP account plus a $10,500 0% credit card cheque to cover the $10,000 we would use to hold the property.

. $15K seems small enough to where you could purchase it with a 0% intro credit card.

Welcome, There is a good size group from SA.Get some business cards that say you buy houses.

A few of the cards have been returned as undeliverable.

I would like to send out post cards instead of yellow letters.

In order to get your total "net worth" you would add up ALL of your assets  (real estate, stocks, bonds, cash, etc,) and subtract out the debt (credit cards, mortgage, student loans, car note, etc.) in order to get your overall net worth position.

I am on a budget and I've been building my credit back up (old college credit cards had been dragging it down).

There are a bunch of companies out there who will print 1000 business cards for around $40.

Like us, we needed time to set up our rental to show on the books that it paid for itself and took that time to pay off some cards and get our finances looking just right.

The benefits of using a HELOC over a conventional loan:- No or VERY low closing fees- Fast time to funding (I closed a HELOC with a community bank in two weeks), - It's re-usable without applying for a new loan (think of it like a giant credit card)- Interest only payments are available during the draw period- Low interest rates (although they are variable and can change)Having an 80K HELOC is exactly what you want to do your one deal per month, and every deal will be 100% financed by someone else (the bank) at super low rates.If you go this route, you will not only have access to that line of credit, but you also have the income from the rental to cover the monthly cost of the line of credit.