Tag Archive
Pushing the Private Money Buttons
by Julie Broad
We just received the LONG OVERDUE quote on the cost to excavate that pesky tree that has grown up through our basement and out the window of our Toronto tri-plex and I have to say that I am crapping my pants (And not in a good way Ms. Steph Davis). The quote came in at $20,000. This does not, as far as we can tell, include the cost of a new window or the other important things like a new wall and fixed flooring that would once again make that room habitable for our tenants. 
Yes … the words that come to mind are not for this family show.
So … let’s not dwell on that … instead let’s move on to talking about how we’ll probably pay for this mess … I’d love to tell you that we have a giant bank account full of cash that we’ll just use to cover the cost but the reality is that every time we end up with a big chunk of change we invest it in a new property. We like to send our money out into the world to make more money. It’s why all our tenants have larger TV’s than we do … but that is a topic for another day.
Real Estate Financing Definitions Every Investor Should Know
In our Rev N You with Real Estate newsletters, the last two weeks have been dedicated to the money you need for real estate investing. I talked about how to invest in real estate with no money and how to finance your real estate investments.
Read more on Real Estate Financing Definitions Every Investor Should Know…
5% Down and 35 Year Amortization Now the Max in Canada
The government of Canada is adjusting their policy on government backed mortgages based on what’s happened in the U.S. housing crisis. As of October 15, 2008 you won’t be able to get a 40 year, no money down mortgage, backed by the government anymore. Their new rules and requirements for the 35 year amortization mortgage with a minimum of 5% down will likely be so tight you won’t qualify for it either.
Read more on 5% Down and 35 Year Amortization Now the Max in Canada…
