Hello fellow Canadians,Interest rates are obviously still a hot topic.

What rate/terms are you looking for?

You will also need to qualify for a loan, which means you will need a credit rating that qualifies for the loan, and a work history like qualifies for the loan.

Keep in mind that rates are higher than they were 4 years ago.

John, I am managing 3 properties and spend on the following:Hospitable PriceLabsIntellihost (for click rates and pricing optimization)CanvaOpenAIHoufy for direct websites

You shouldn't continue conversations with tenants after they leave.

Financially it's almost always better to leverage but less so in higher interest rate environments when there are good investment alternatives, and not everything in life is or should be done for purely financial reasons. 

Doing all 3 scenarios here would cost about 1M$ to 1.2M.The numbers are:- Purchase price: 1.5M$- Current mortgage: 65% LTV, 2.55% 30y fixed- Property taxes: estimate 25k$/y- Current rental income from two 1bed/1bath units: 2200$/m each- Previous rental income from the 2bed/1bath house: 3600$/m- Property mgmt: 12%- Quote for garage ADU conversion: 500k- Quote for remodel: 400k- Quote for JADU: 300k- Estimated rental income from ADU conversion: 3500-4000$/m.- Estimated rental income from remodeled house: 5000-5500$/m.- Estimated rental income from JADU: 2500$/m.Concerns we have:- There's no comp in the area that sells for more than 2.5M for a setup like this.

Let's dig in to the answers on a few of these that sparked further conversation and discussion between my client and IProof of rent paid & method of paymentWhen the seller provided "proof" of rent paid, as well as the method of payment, we found the seller was collecting significant amounts of rent in CASH every month. 

I got a letter jacking up my rate considerably and it went on to state that I would not be renewed for 2025.