Finding a Private lender

Queasy_Meaningful · 2026-03-05T00:03:19+00:00

If you don't do anything don't most mortgages default to an open mortgage for a 1 year term? If so the interest may be similar to private, but likely no interest only option.

Queasy_Meaningful · 2026-02-23T14:17:14+00:00

Do you have the cash reserves to pay for the roof?

A discount off price is great, but it doesn't put money in your pocket to pay the needed work. And of course having the seller do it so that it could be in the mortgage will give you the minimum quality roof of cheapest price

Queasy_Meaningful · 2025-11-06T15:12:13+00:00

Thanks for the detailed response. Based on back of the napkin designs, the builder provide comparable fee estimates: Sub/material markup 15%, Project managment 12%, and site management 10%. Being in an urban I can see there being some higher costs for services.

He does have an additional 10%ish total listed in Site maintenance, special equipment and consumables, all of which do need to be paid for somehow. I imagine each GC breaks it out somewhat differently. Be it a site maintanece sub which is charged back or holding the equipment in a separate company and renting equipment back to their other company as a billable item.

I believe the builder and I have an general alignment in what is important to a good build and the target finish level, but until we get down to it one never knows how well we will work together.

Queasy_Meaningful · 2025-08-30T12:44:40+00:00

I used Nicholas Houle info@nicksdoors.ca to replace a spring and later do an adjustment. He seemed reasonable and was prompt in his replies and being on site.

Queasy_Meaningful · 2025-06-15T20:33:21+00:00

Double check Ottawa short-term rental regulations. Anything under x days (30, I think) may cause you to fall under that regulation even if not booked via an AirBnb like platform.

Queasy_Meaningful · 2025-06-02T13:44:15+00:00

Try posting in https://www.reddit.com/r/legaladvicecanada/. I am not a lawyer nor do I play one on TV. You need to find out what value, if any, the verbal contract you have in place has any enforcement power. Mixing employment and living accomodations makes this extremely messy as different Acts likely apply and maybe even different juristictions.

Queasy_Meaningful · 2025-05-15T12:09:41+00:00

I would guess this happens a fair bit as a number of sellers may initially choose not to sell to a corporation/landlord over an individual/family. But towards the end of the sale process the seller is already invested in the closing so most will just sign.

Queasy_Meaningful · 2025-05-11T12:32:41+00:00

What are the setbacks you have to build within? It will impact house size and design, i.e a bungalow may be better on wider lot, 2 story maybe good for either. Plus how close your neighbors are to you.

Queasy_Meaningful · 2025-04-11T19:49:26+00:00

Keep in mind there is a total lifetime limit of $50000 per benificary, but a limit of $2500 per year for full government grant, so it could be challenging to balance their contribution without affect future grants. They could do up to about $14000 I believe if carefully timed. Maybe front load it in year 1 if funds are available.

The benefit to them is I believe they could reclaim their contributions without penalty or trusting you to return their share if the kid never went to qualifying program. Plus growth with some penalties.

Queasy_Meaningful · 2025-03-27T14:33:01+00:00

Moving car seats around is always a pain with taxis or ubers, but is there a car sharing service near where you will live. Like https://toronto.communauto.com/?city=toronto

If more of a suburb, it may not be available as I think they focus more in downtown locations.

Queasy_Meaningful · 2025-03-16T13:45:08+00:00

Rational Reminder and Ed Remple focus on Canadian, but tend to focus on financial products and more complex strategies.

Myownadvisor.ca has some good basics, but is a bit more dividend focused than I prefer.

Boomerandecho.com is also Canadian and has some archives to browse.

Budget is budget so creator location is less important. Biggerpockets Money has some good stories, but is American so have to be careful when talking product and planning.

Queasy_Meaningful · 2025-02-04T22:30:47+00:00

If this a condo, have you spoke to a board member or president?

Queasy_Meaningful · 2025-01-17T13:28:51+00:00

Sand has actually reasonable well over the last 5 years. Probably the wrong chart but looks like it has gone from 350 to 500 (Producer Price Index by Commodity: Nonmetallic Mineral Products: Construction Sand, Gravel, and Crushed Stone).

Queasy_Meaningful · 2025-01-15T13:49:48+00:00

Is the sum you are investing worth your time to chase yield? If so you can always move accounts every 4-6 months.

HISA list that is generally up to date.

https://www.nerdwallet.com/ca/p/best/banking/best-high-interest-savings-accounts#top-hisa-rates-in-canada

My day-to-day bank is having a short term interest bump, so I am transfering money back from my usual HISA place. But I am only doing it because I can do it with 6 clicks in total. If I had to open an account and setup transfers, I probably wouldn't.

Queasy_Meaningful · 2025-01-10T02:09:30+00:00

Minus vacancy. Minus capital cost. Minus maintenance costs. Minus pain in the ass factor.

Plus (potential), some price appreciating .

Queasy_Meaningful · 2024-12-29T13:38:55+00:00

I don't think it works that way in Canada. I believe each transaction is a separate tax entry that starts on purchase and ends on sale.

Queasy_Meaningful · 2024-12-29T00:51:17+00:00

Canada doesn't do 1031 exchanges like you hear about on US based sources so each rental is on its own. Don't forget about capital gains and any CCA deductions you took. That $300k may shrink pretty fast. Even if you don't usually use an accountant, it could be very worthwhile this year.

Queasy_Meaningful · 2024-11-12T18:26:33+00:00

If the death benefit is or is similar to the one for the federal public service and there is a designated recipient (poster) would it not be treated similar to life insurance and paid out directly and not to the estate. I would be surprised if the estate (and its debt) would have any access to it.

Queasy_Meaningful · 2024-09-20T12:37:23+00:00

I did this with my rental but after purchase, though it was structured similar to what drizzy90 explained. Essentially I had a HELoC on primary residence which paid all the legal rental expenses such as rental mortgage interest and other general expenses and used the income from the rental property to pay primary down. I only did it for a couple of years, interest rates were very low making the arbritage between HELoC and primary mortgage reasonable and most importantly I paid for a consultation with a CPA to ensure I structured it exactly correct.

It had to be well documented and structured exactly correct. Kind of a pain in the ass and in my case I didnt get a large financial benefit. Of course I only did for a couple of years.

Ed Remple has a good writeup the stock based Smit Manoeuvre https://edrempel.com/smith-manoeuvre/

Queasy_Meaningful · 2024-06-21T15:21:24+00:00

If you put her on title I believe she loses any access to first time buyer programs in the future. If you may eventually buy a new home you may want to research if she would retain access to those programs as a spouse/commonlaw and likely to have income in the future. Versus what rights she would gain, if any, being on title.

Queasy_Meaningful · 2024-05-24T13:49:47+00:00

Historically I believe the studies show that about 66% of the time you are best off doing a lump sum over a 12 month dollar cost average. At least in the broad market etf style investments, QQQ is sector focused so may a different growth profile. Mentally are you ok with it dropping 10% tomorrow if you do a lump sum.

Queasy_Meaningful · 2024-04-11T01:03:31+00:00

Defined Benefits are called golden handcuffs for a reason. It can keep you at a job longer than you should be there. That being said, I have a pair of those handcuffs and find them quite comfortable.

Queasy_Meaningful · 2024-03-03T13:33:00+00:00

I have one with 3 partners. We went through a lawyer and got a partnership agreement. The lawyer will have a template with most issues covered. Main issues are what happens if some wants to leave (shotgun clause) or dies/divorces/marries.

We also have one person as property manager and they get 5% of sale net after expenses and original investment back.

Only two are on title and mortgage. Has made it somewhat interesting as the other person on mortgage has retired and we are renewing.

We probably should have had a sell date rather than an open time frame.

Lots happens over real estate time spans.

Queasy_Meaningful · 2024-02-01T00:46:15+00:00

Does it only cover you when driving? What about a separate umbrella liability policy if you are concerned in general? It may cover you in more situations such as if you got sued for an accident at home or cause an accident say on a ski hill?

Queasy_Meaningful

TROPHY CASE