I’m not a big fan of REITs. Many people think that investing in REITs is the same as buying properties without the headaches of having to deal with tenants, banks, etc. The returns seem to be pretty good, when compared to stocks, or GICs but, in reality, the owners of the REITs are making a …
Category Archive: Real Estate
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May 02
New way to pay — INTERAC e-Transfer
There are many ways you can have your tenants pay rent. In my book, I covered many of the basics but, over the past few years, I’ve developed my new favourite method of payment the INTERAc e-Transfer. The INTERAC e-Transfer is basically an electronic money order that comes right to your email account for deposit. …
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Apr 19
Document Everything
I realize it’s been a while since my last posting, but life has a way of getting in your way. Hopefully, I’ll get back to a more regular posting schedule soon, but then again I may run out of things to say… Recently, I once again had to go through the eviction process. This was one …
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Mar 05
Investing professionally
I was having lunch the other day with a friend. We got to talking about our kids and his son, who is about to enter university is contemplating careers. One of the things his son was thinking about was becoming a professional real estate investor. Ultimately, it sounds like the dream career…not a lot of …
Permanent link to this article: http://www.easysafemoney.com/investing-professionally/
Feb 14
Tax Time Tips for Real Estate Investors
Well, we’re getting close to that time of year again where taxes need to be filed and paid. If you own any business or real estate, you don’t really get to keep any more money than if you earned a paycheque. Money doesn’t seem to work that way. There is one difference though between being an …
Permanent link to this article: http://www.easysafemoney.com/tax-time-tips-for-real-estate-investors/
Jan 23
Low end investing
I was having lunch the other day with a friend and we were discussing real estate. He knew a guy who had a high-end place which he rented (furnished) for around $4000/month, I believe he paid somewhere around $500,000 for the place. It turned out, that this guy has, shockingly, the same problem with tenants that …
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Jan 22
You’re not your tenant’s mother
The secret to a good relationship is not trying to change someone. People don’t change. Many a marriage have ended because people thought they could change their partner. The same thing goes for the landlord/tenant relationship. Once you’ve don’t your tenant screening, you have to accept them for who they are. If they are messy, …
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Jan 15
Dealing with death
One thing you need to consider when you become a landlord, is the inevitability that one of your tenants is going to die. This isn’t something that you’ll read about in any book, heck I forgot to mention it in my own book, but with more and more properties, the odds of it happening will increase. …
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Jan 10
Keep a log
When dealing with renters, it may be tedious, but keep a log. Go pick up a hardcover, spiral bound notebook, one for each property. Organize a shelf for easy access. Whenever you correspond with a tenant, for whatever reason, note the entry in the log with the date. Then note what action you took. If you …
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Jan 08
The Appeal of taxes revisited
Last year, I wrote about how you undergo appealing the tax assessment of your properties in The Appeal of Taxes. This year, I got my assessment for the two units, and the city raised their values by a staggering 80%. Well, as you can imagine, I was on the phone to the city right away (especially as …
Permanent link to this article: http://www.easysafemoney.com/the-appeal-of-taxes-revisited/
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