All Forum Posts by: Account Closed

@Scott Galloway

No particular additional risks up here, and you’re in a phenomenal city with respect to the real estate cycle too. Pretty rad city overall actually, I miss it. Pay attention to expected cashflow using realistic rents after you move. Lots of folks look at this as a way to skirt the 20% down rule, I look at that as unwise. Make sure you’ll be 5 year cashflow positive on the way out. Meaning, include all expected capex and opex.

@Jimmy Wen

Required? No.

Recommended? Absolutely.

You book keeping becomes your bank statement. Makes life a lot easier. Get a credit card that you will ONLY use for rental property stuff too. Everything that can be expended, on that card. Nothing unrelated should go on it.

@Sacha LaCoss

Around here a red seal carpenter makes $28-$32/hr, and a plumber makes $30-35/hr. I don’t go over $20/hr. And if it’s weed whacking or lawn mowing or something I may go less. Having great neighbours in great B+ areas means I always know a teenager or two who wants beer/weed/girlfriend money.

@Tyler Eastman

Etransfer or auto debit only. If you use etransfer, use the address of the house as the password. Never, I mean never, let them use a password that is too easy to guess. Banks won’t stand behind it for liability if their password is easily guessed. To be safer, I have them set security Q as just “address” and have them double the house number for answer. Ex: 13541354 for a house number of 1354.

@Jacques Herve

The fine print on any HELOC I've ever seen states it can be recalled at any time at the sole discretion of the lender. And they don't say "you've got 120 days" when they recall it. So having room on a secured line is not the same as having cash that cannot be recalled in my opinion.

@Jay Hinrichs

Finally starting to see ads for charging stations up here actually. 8*F is about -12*C unless my brain is currently on pause. Good rule of thumb is -35C &-35F are equal (they aren’t, but they’re reasonably close).

@Jay Hinrichs

Yep, around town cool stuff. Norway ain’t like Canadian prairies in the winter. More like maybe Oregon or Washington ish. Example, it’s -5*C right now and -20 with windchill. Not a darn tree in site and my 1500 Chevy is downshifting to drive 65mph.

For someone with a 2nd vehicle for long trips, probably fits just fine. I’d rather run one vehicle I can do everything with... although running a Jeep Wrangler I shouldn’t pretend like I’m 100% satisfied in that category.

With legit battery life and auto drive option it’s $100k CAN for me. That’s a pass. Not sure what battery life is like at -30*C. Don’t see many Tesla vehicles on the prairies yet, especially in the winter. That said, a new 3/4 ton Duramax Denali is also $100k.

For $100k, I can burn 10 more lifetimes of gas in my old 2006 Jeep Wrangler and it’ll still only be $8 to replace a headlight on it. Thing barely has doors but it’s almost as indestructible the bulletproof windows on that Tesla.

Boilers are so close to bulletproof. Get a second opinion. Even if the burner control module is acting up they’re all serviceable. Efficiency might be garbage if it’s old but it should all be fixable.

Money in account. Right now. Today. And I would add to that from experience that it not be instantly recallable funds.