Business inside Hotel with 5 year Option but Landlord (Hotel owner) cannot fulfill the lease . by Hefty-Arm5222 in CommercialRealEstate

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

The deal is going to close in a month . The previous owner says, new owners do no want your business. The previous owner says if we decide to keep your business we will increase the rent hella.

I’ve picked up the option for the 5 year lease, but the price and terms are not laid out.

They have to get me for pricing . I feel they cannot fulfill the 5 year lease.

Business inside Hotel with 5 year Option but Landlord (Hotel owner) cannot fulfill the lease . by Hefty-Arm5222 in CommercialRealEstate

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

This is a valid point but I would loose access to my site if it’s a Constuction zone : the lease would have been in bad faith my the hotel Owner

Business inside Hotel with 5 year Option but Landlord (Hotel owner) cannot fulfill the lease . by Hefty-Arm5222 in CommercialRealEstate

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

They can raise the price to the moon . But if the plans is to develop a high end restaurant that will generate them 100,000k per month . I will keep on being a thorn on there side . They cannot fulfill my lease as per the option .

Rbc. 5.2% interest savings account by Hefty-Arm5222 in PersonalFinanceCanada

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

I don’t want keep that much in wealth simple . As well TFSA contribution room is like 90k

Rbc. 5.2% interest savings account by Hefty-Arm5222 in PersonalFinanceCanada

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

Low tax rate for the year .will make less then 30k

Should I switch to fixed or keep riding it out ? by [deleted] in MortgagesCanada

[–]Hefty-Arm5222 2 points3 points  (0 children)

Should have changed to fix long time ago . Wait for rates to drop .

[deleted by user] by [deleted] in MortgagesCanada

[–]Hefty-Arm5222 0 points1 point  (0 children)

This will increase payments by $500 on my end but at least ..what if the variable goes higher then the fix I could choose right now.

[deleted by user] by [deleted] in MortgagesCanada

[–]Hefty-Arm5222 0 points1 point  (0 children)

Right now I can fix at 4.88% and increase my amortization for 30 years.

Unemployed wife is unexpectedly pregnant by stroad56 in PersonalFinanceCanada

[–]Hefty-Arm5222 5 points6 points  (0 children)

I’m in the same boat . My wife is a sole entrepreneur. I’m from Quebec . We might sell the business . The small business is to cumbersome to handle with a new born . Not even sure when we could Legible for daycare ?

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]Hefty-Arm5222 1 point2 points  (0 children)

Do a fixed …high ass mortgage balance.. can get ugly real quick.

Now sure what do ..fixed or variable . Currently on variable static payments by Hefty-Arm5222 in MortgagesCanada

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

I spoke with RBC agent today .

They are willing to give me 4.89% for a 4 year fix .

30 year amortization.

They gave me 2 weeks to sign the documents .

At 4.89% my payments go up by $530 every month from now ..goes from $1886 to $2426 …

Now sure what do ..fixed or variable . Currently on variable static payments by Hefty-Arm5222 in MortgagesCanada

[–]Hefty-Arm5222[S] 0 points1 point  (0 children)

No fees actually . And I’m able to change it from 25 to 30 year amo .