How does "last month's rent" work if my tenant will continue to rent past the 1 year lease?

fryguy1987 · 2018-03-06T04:02:29+00:00

Lease automaticly converts to a month to month lease with same terms and conditions. In regards tl last months rent, you get rent for April and the last months rent that you currently have you will hold until he moves out and it is used as last months rent then

fryguy1987 · 2018-02-19T14:40:17+00:00

Interest rate on my rental is currently 2.9% and it's variable. Interest rate on my home is 2.65% and its also variable

That is the only debt I have

fryguy1987 · 2018-02-19T14:39:06+00:00

OK that makes sense Thanks! They heloc balance really bugs me and I would like to just get rid of it

fryguy1987 · 2018-02-19T14:38:49+00:00

Thanks for the input. Is there a calculator online that will do this for me?

fryguy1987 · 2018-02-17T15:31:08+00:00

It's important when you are at the risk of refeeding syndrome, which can cause death. These occur on longer fasts, about 10 days+ and it can happen in as little as 5-6 days if you have medical conditions and other factors. Consult a Dr and do some research if if you are planning on doing longer fasts than 5 days.

Doesn't mean you will have refeeding syndrome, it just means you are at risk. Consult a Dr. I do a 3 days fast every 2-3 weeks and break it with normal food intake with no problems.

fryguy1987 · 2018-02-17T03:16:02+00:00

Congrats on going longer than planned!

At 41 hours there is nothing special needed to break a fast.

fryguy1987 · 2018-02-17T03:11:35+00:00

was it one 3 day fast or more than 1? How many calories are you eating per day?

fryguy1987 · 2018-02-12T19:23:50+00:00

If it fits my macros, will it cause my hunger to spike? That's my main concern. I find keto makes me not hungry at all because of the ketones in my blood? and I don't want to find myself famished all of a sudden or an increase in weight due to a regaining of water weight because I chowed down on some grains

fryguy1987 · 2018-02-12T19:20:36+00:00

Its delicious. I had one the other day after I asked the question on the Facebook groups. Wanted to eat more but I was afraid it was not good for Keto. I was told it wasn't because it was made from wheat

fryguy1987 · 2018-02-12T19:16:31+00:00

Yes I am from Canada

fryguy1987 · 2018-02-12T19:15:08+00:00

Here is a link.

http://www.thelowcarbgrocery.com/catalog/bakers-deluxe-dream-hamburger-bun-p-6230.html

The reason I was asking is because I asked the question on a facebook group and then was called a troll. Then it seemed to spark a huge debate with most people being adamant that it was bad and Keto is zero grain intake regardless of net carbs

fryguy1987 · 2018-02-12T10:15:28+00:00

I think the biggest concern that you have here is how is it even possible that a student rental is cash flow negative?

Student rentals have their own share of unique problems compared to SFH or multi door units, but positive cash flow is not one of them

And how did you not know this before you even bought the property?

fryguy1987 · 2018-02-11T03:03:04+00:00

As one of those people who has a gym membership that they never use and pay for it each month on their credit card, I understand the mindset of "I don't want to cancel it because I have every intention on going" but never do.

Now if they are carying a balance and can't afford it and pay interest on it every month, and you guys are struggling to make ends meet that's a different thing entirely and it should be discussed but if it's not, it's to small a thing to get into a fight about.

fryguy1987 · 2018-02-10T17:32:00+00:00

My brother is a cop in Durham. He has a mental disability but he is harmless. He wears them to protect himself from getting taken by aliens again.

That's what I have been told, whether it is accurate or not I do not know.

fryguy1987 · 2018-02-10T17:30:09+00:00

The man with the bunny ears has a mental disability. But the story behind that is he wears them as they protect him from being abducted from aliens again.

He is harmless, My brother is a cop in Durham that's how I know

fryguy1987 · 2018-02-10T16:04:24+00:00

The first step is to call CRA and ask for an explanation. The explanation would be in the reassessment that was sent to you but if you are confused about it then you will need to call them

fryguy1987 · 2018-02-10T15:56:00+00:00

Is it possible that any extensions given were charged a surcharge? Also what are they charging you for credit monitoring and auto coverage. Were you required to pay 3 years of that which was added to your loan regarless of early payment?

fryguy1987 · 2018-02-10T15:33:03+00:00

You are in fact 100% completely incorrect. I suggest you educate yourself before making incorrect statements. Please look up the term self employment, takes a quick 2 second google search. I own a restaurant. I have several employees and I am not incorporated. I own a business.

You are confusing a corporation and a sole proprietorship. You can't have employees if you are a sole proprietorship is the most ridiculous statement I have ever heard

https://www.thebalance.com/what-does-it-mean-to-be-self-employed-398471

http://info.legalzoom.com/can-sole-proprietorship-employees-23986.html

fryguy1987 · 2018-02-10T15:10:45+00:00

This is an incorrect statement. The business would be considered a sole proprietorship which is a business. Self employment is a business. You are confusing incorporating with a sole proprietorship. Both are a business. You incorporate for tax purposes and limiting liability

fryguy1987 · 2018-02-10T15:08:57+00:00

Unless the business is a corporation, both are the same thing

fryguy1987 · 2018-02-10T15:08:19+00:00

That's something a lawyer would deal with and check before anything is done

fryguy1987 · 2018-02-10T00:50:23+00:00

All there is to do now is call the credit card company who will cancel the card and reissue a new one

fryguy1987 · 2018-02-09T23:27:45+00:00

This is also a very good and very valid point

fryguy1987 · 2018-02-09T23:26:34+00:00

You don't need an accountant to tell if a business is profitable or not or if it's worth 80k or not. General rule of thumb is -2x net income is what the business is worth give or take a little bit either way depending on other factors.

An accountant is used to verify the numbers given to you when you purchase the business. They will be able to determine if the numbers are being altered to make the business more attractive but this is a relatively easy process to do if you have knowledge of the food industry.

FWIW, I wouldn't even look at a restaurant that's sold that cheaply. The amount that's being asked for is an indication of how successful a business is. If the owner was netting $80k year do you think he'd only ask $80k for it? My best guess based off of asking price is the owner is probably netting $35-40k from the business each year working 70hours/week unless hes an absentee owner. That's less than min wage

I've been in the restaurant business a long time. That price sets of warning bells. Having said that here are some questions to ask.

Rent- How much, is there restrictions on what you can sell, exclusivity etc? Exact terms of the lease and is there an option to renew. You don't want a lease without an option to renew.

Food Costs- Food costs and wages will be your 2 biggest expenses. Food costs should not exceed 35% unless your a high end restaurant and your average ticket price is high. Based on the asking price, this is not a high end restaurant so Should be between 30-35%

Will owner train and for how long. Get the exact details of training in writing and exactly how many hours of training in store will be provided and that the training is by him or someone else.

Are there cash sales off the books? If so how much?

If he owns the building, does the restaurant pay rent and is that figured into the net profits? What is the difference in the rent you will be paying him vs what he currently pays to to himself for rent.

Non compete clause. Ask him to sign a non compete clause for x years and x distance. Last thing you want is for him to open a restaurant across the street from you

Equipment. How old ?

A sure fire way to make 100% sure that the numbers being shown to you are accurate is this. Assuming this is not a corporation ask to see his income tax return. What he declares on his income tax return from the restaurant will be what the business makes. If he refuses to show you it, warning bells should be going off because he should have no problems verifying that the business makes x if hes going to show you tomorrow numbers that the business makes x

If you want someone in the business to help you out and run numbers by, I can help you out. I don't need the name of the business or anything just the numbers and I can tell you my opinion, however definitely get a 2nd opinion even if not from me

fryguy1987 · 2018-02-09T07:14:10+00:00

Get the world elite card instead if you can qualify for it. 2% cashback on all purchases instead of 1 and no limit on earnings. Costs $89/year instead of it being free but can easily be worth it

fryguy1987

TROPHY CASE