All Forum Posts by: Roy Cleeves

It all depends upon how long you can wait.   I think it would be better if you waited as long as you believe the market will improve in the future. 

 Ok - so yeah no help there.  Maybe the Agent's Broker/Owner could assist.  Best Wishes

Excellent.  I could recommend a great agent in London if you wish.

Maybe that same Broker will redo it for no fee.

Hi Joanne

I think you are best to speak to a Realtor to get the numbers that you need.

I can connect you with a Great Realtor if you let me know what City the property is in.

Cheers,

Roy

Hi Jonas

That is a challenge in most of Ontario Markets.  You might find that Windsor if that is not too far.

Or you could go Northern Ontario yet that might be getting too far as well.

 Yes - you can go to the land titles office and pay for each search.  I am not sure what the fee is now.

Hi Brandon.  Is this in St. Thomas?

If so rents may go up with the VW battery plant coming and creating 3000 new jobs.

It seems like a great way to get started.  You will still be making money because of the mortgage pay down each month and the appreciation in value over time.

It may not save you on your taxes as the income gets added to you unless you put it in a company name rather than you personally (which I would recommend).  You see, even though it is negative cashflow - you don't get to write off the principal pay down each month which is probably have of the monthly payment.  So in the end you are adding to your income rather than subtracting.  

If you set it up in a business name then you pay less taxes on it and you can write off many of your expenses that apply to your real estate investment business and that will help you personally.

Best wishes

Congrats!!  Great investment.  I agree with what you expect in the coming year in Eastern Passage. 

Yes - those two items are the factors to consider.

And maybe get some advice from your accountant.  See what they recommend.

Good luck