All Forum Posts by: James Feenstra

WI'll definitely look into it, but looking at what's included in their kits, all of their forms are freely available (although they're the OREA versions) online. Once I get to a point where I have to do more regular credit checks it will definitely be useful.

The particular place I'm looking at right now isn't in Toronto. A four unit here is quite pricey and well past my available equity unless I was to sell my current properties (not part of the plan as both my current units are in great locations- they've almost doubled in value since purchase)

We're talking under a half million in terms of asking price.

I like the way that smart move is presented, it appears to be a 'one click' type of operation. Also the price is incredibly lower than any similar Canadian service ($25us vs $60+ cad) which is always appealing.

To be clear, I have only one rental. Two properties total (I live in the other).

While I'm familiar with tenant screening services, I was more looking for the streamlined effectiveness of what smartmove offers.

I'm very familiar with the RTA and how the LTB works. Please note my questions were NOT about finding/screening tenants, as I know these services exist (having used them in the past), I was looking for a better laid out package than what TVS offers, and it's also rather expensive (in comparison to smartmove).

One of the credit unions I deal with is telling me that 4+ units falls into their commercial investments, which is where the main questions start coming up as I haven't dealt with this kind of financing/purchase before (although would like to). While I've been talking with them regarding a new purchase (as well as the mortgage broker I've used for previous purchases), I'm always looking for alternate options and/or things they may not have thought of.

Also, does anyone know if there's a service similar to SmartMove for Canada?

I think it's a brilliant idea, but wish it was useful for those of us north of the border.

If there isn't, I think I found my webdev friend a new potential project....

@Brian Hosier yeah I've read a lot of his articles (they're what lead me here!), but the financial side of things he deals with is entirely US based.

My main question would be if it's still possible to buy real estate in Ontario with 0% down (or something along the lines of a 203k mortgage)? This is what I haven't been able to find much about.

I've talked to a few banks (the ones that hold my current mortgages) and brokers, all whom have told me it's not *usually* possible, even though CMHC's mortgage guidelines are somewhat unclear on it;http://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/mu...

"Purchase — Loan-to-Value ratios up to 85% of the “as is” or“as improved” value."

This, to me, says yes, we'll insure it, but it's really at the discretion of the lender if they want to give it to you. Am I correct in this, or just misreading it?

Heard about this site through a random google search, figured there may be some useful advice for Canadians here as well.

Currently own a couple of condos in Toronto and am looking at buying my first multi-unit property, and have many questions regarding the ins and outs of making this type of purchase (mostly regarding financing/down payment requirements- I plan on living in one of the units and renting the others, while maintaining the other two unis I already have as additional rentals) as I've only done single family purchases in the past.