For today's calcs, I used 3% as our personal loan rate and
4.5% as the commercial loan rate

Version 1

So if the Valuation comes back at 2.1M and the (a $560,000 discount is applied) then Sale of the property is transacted at 1.54M then the bank will loan our Corporation a maximum of (70% of 1.54M) 1.078 M. In this case we will have to come up with $462,000 to purchase the property. Each of us will have to come up with $115,000 to purchase the warehouse. The bank loan to the New corporation / our mortgage will be 1.078M

Version 2

If the Valuation comes back at 2.1M and the Sale of the property is transacted at 2.1M then ($560,000 is somehow held in trust); then the bank will loan our corporation (70% of 2.1M) 1.47M and we will in the end have to come up with $70,000 to purchase the property. Each of us will still have to come up with (temporarily $140,000, then we will get the $ $140,000 back and have to pay $17,500 to purchase the warehouse.) The bank loan to the New corporation / our mortgage will be 1.47M

There are also Property Transfer Tax considerations and Capital Gains considerations as well.

Version 3

If the Valuation comes back at 2.1M and the Sale of the property is transacted at 1.54M or 2.1M then:
The corporation does not take any commercial loan at 4.5%
Each of the 4 investors will have to come up with approximately $385,000. (possibly $525,000 temporarily) (supposedly at a better personal rate say 3% to by 1/4 share in the new corporation.
With the 1.54M in initial shareholder's loans, the corporation purchases the warehouse directly.

Are there any other versions, (No vendor takebacks as the Seller needs cash desparately) I can give more details re: current tenant , cash flow etc if anyone needs to do some math.

My guess is that we will do some combination. One of the investors may have a problem coming up with 385K, and we will likely want to purchase the property at the actual amount, not a discounted amount because of Capital Gains taxes. My preference is that each investor do exactly the same thing so that the corporation will treat each investor exactly the same.

Please tell me what I am missing and how to improve on this idea.

Whats the square footage of the warehouse.

Current tenant rent payment and lease length and expenses? Hard to know what to do with a deal if we don't have the math behind it.

Well we know the value, only thing that matters imo. Unless you can run it a lot better and get a better NOI.

Obviously you always want to put down as little cash as possible, so doing the 2nd version is best, as long as you notify the real sale price to the tax man. We have ways to do this here but in the west I have no clue. Example : we tell the bank sales price was 2.1m. We tell the tax man the warehouse has 500k of repairs that need to be done (even it doesn't, you dont even have the list the repairs). Bank finances 70% of 2.1m. Seller gives you a check after closing of the 500k of "repairs" via hidden contract (that you both only send to the tax man).

Not sure if legal in the west, happens very often here, so the price of deeds is often inflated the bigger the deals are the more people who what they are doing.

This or buy cash, refinance the same day. I'm sure he could come up with the cash for a few days. Unless refinancing cannot be done on the same day there. I wonder if SCHL (CMHQ i think in english?) Does loan for warehouses. If they do you could probably leverage it higher than 70% and get all of your cash back, but they check EVERYTHING and it takes 2 months right now with them.

4656 sq ft of 19' high Warehouse Space and built out office spaces. 3 washrooms, 6 parking spots, 2 grade level loading bays. Location is well situated in South West Marine Drive area... easy access to Downtown, Richmond, Burnaby, Airport and the US Border. Investor opportunity with Excellent Long Term Tenant and Escalating NNN Lease in place at 3.55% cap rate or Owner / User potential opportunity.

That is the advertising on the property. I never trust the SQF as there is sometimes unauthorized mezzanine. i think the actual footprint is 4200SQF.
ie 30x70 x 2 lots side by side or 60x70.

Current tenant pays 4869.58 /month base rent and 1679.17 extra rents (covers strata fees and property taxes)
Rent is set to increase to 5373.33 in May 1, 2020 and 5877.08 in May 1, 2021.

If it comes up, I used 3% for personal loans and 4.5% for the commercial loan and 25y for the term when doing my original calcs.

This is what I wrote to the other partners who were asking questions about the Warehouse.... The one who as asking also owns RE in Detroit.


In a more general sense, Real Estate increases your wealth in Three primary ways.
A) Cash flow
B) Gains in Principal (every time you make a mortgage payment, you are forced to save)
C) Gains in Asset Appreciation.

If you took a simple example from Detroit 40k property $800 rent, No mortgage
A) cash flow +$800/month .
B) no mortgage; 0 gain as you do not make mortgage payments
C) Very little gain in Asset Appreciation. a 40K property 5 years ago is still worth 40k. (based on cash flow mostly)

If you took our example from Vancouver (from the point of one shareholder) for Version 3
A) Negative cash flow -$605/ month (your interest payment on $385K is $1822; your rental income is $1217.
B) Principal/Equity gain $877/month (After 25 years, the forced savings = $385,000) and you have no more mortgage to pay.
C) Asset Appreciation; this is the big unknown and does not get realized until you sell the property.
I do not have a long term average for warehouses for Vancouver but in Delta the sale price PSF went from say $150/sf to $250/sf in 10 years.
That is approximately 5% per year for the entire value of the warehouse. So the gain on RE value could be $100k in one year on a 2M property.
This is a $25k gain per shareholder per year. if the 5% increase continued for another 10 years, the value of the warehouse would be around 3.2M.
Please note that C) Asset appreciation is all up in the air as far as the economy and future cost per square foot of warehouse.
In this version A+B=+$272/month

To make this better for Cash flow A), we can reduce our gains in Principal B) by extending the mortgage to 30 years.
in this case the interest payment is $1614; Tenant monthly income still $1217
now
A) Cash flow A) is now -$397/month
B) Principal gains is $671 per month
C) Asset Appreciation same as before. , unknown but estimating +$25K/year.

This version may look just as good as the combination of A) and B) are pretty much the same A+B= +$274/month. They are not.
The real difference is that after 25 years, one version is still making mortgage payments from rents, the other collects rents as income and makes no payments.

Lastly, Please note that there is a risk factor during the end of a lease.
If a tenant leaves, it may take up to six months of no rental income to place a new commercial tenant.
Commercial agents also charge on average two months of rent on a 3y lease.

Well this is interesting. I always considered that you had positive cashflow. I would never consider negative cashflow play longterm.

Banks will actually finance negative cashflow properties? Why... why would you buy this high risk shitty returns building...? It's a sinking ship. Sinking ship needs upside, you need to figure out how to get an upside, or if its really worth 2.1 and you pay 1.5, sell it instantly.

Your rent will increase next year, will your expenses follow at the same rate? The more leverage the better, as long as you still cashflow.

Edit: it's actually insane to me that you have a 25% discount on market value and do not cashflow. RUN from this market.

The upside is Asset appreciation C). I have enough Real Estate in that Asset Appreciation category, so this is not my first choice in a place to invest $385k It is likely the only clean way to remove myself from a messy KC property the sellers and investors are both linked to.

We can sell the property right away if necessary, but after talking to the other partners it is very unlikely that we would sell until close to then end of the current tenant's lease. It would also be unlikely that we sell it at all if the rent continues to rise and the tenant signs a new 3y lease. The property at that point Y3 2022 would be cash flow neutral and + in Y4.

The Expenses for the landlord do not increase over the lease, the "Extra expenses" that I listed cover taxes, and strata fees. The Tenant pays his own utilities.

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what I did yesterday to further my goal.
Completed Assignment #16 of the rental licence.

What I did today to further my goal.

Completed assignment #17 of the Rental Licence.
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Started looking at new RE in Toronto around the UoT.
I have a son attending business School and we are trying to figure out where he will be staying next year. He is currently on campus in a dorm, one block away from his main study building. He pays (I pay) about $1500/m. This does include the meal plan.
Next year he is not guaranteed a room so I am looking into if it is feasable to buy a place for him and his room mate. (or possibly more students)

The places I am looking at are not totally bonkers yet. The high end stuff goes for around $1000 per square foot. (two bedroom 2 bath 850 sqf is 850k.

What I did in the last few days.

Work is keeping me really busy but outside of work: What I did to further my goals.

Warehouse #1 forwarded documents to tenant re: exercising their option to lease some office space.

KC apartment swap: Got General Partner to sign an Undertaking re: sale.
Instructed the appraiser to go ahead and do the Valuation. Expect the valuation to be complete by Feb 28 or sooner.

Family Property: Fired a new lawyer for being too inexperienced and slow. He also made a typo and got flustered when i assumed (his mistake was correct) and grilled him on it. Afterwards he said he made a typo. (was not a typo, was a mix up in his mind.... i gave him a deadline and he typed in a response that he would be able to complete by March 4 which was way over the deadline. On the phone I grilled him why it would take so long, asked him if he was totally booked up in court. he later replied it was supposed to be Feb 4.) Meeting a new lawyer on Tuesday. High hopes on this one as he gave me the correct answer after 20 minutes of discussion. The first lawyer's answer was.. i need to research that and it will take about 5h.

Was talking to another peer about what I was doing lately. Got my fourth invitation to present my pitch when i'm ready to invest in a new property.
ie. "I/we have money to invest, let me hear about it when your ready."

Reached out to a very old friend. Have not spoken to her in 25y. She does Air BNB in Toronto and so I have some questions for her.

Passed 200 contacts in Linkedin.

What I did today to further my goals.

Completed assignment #18 of the Rental Licence Program.

Warehouse #1 Tenant is exercising their option to lease some office space.
Start working on new lease.

KC apartment swap: Reminder to General Partner to confirm access with current tenant for valuation.

Family Property: Sent list of documents to new Lawyer in preparation for Tuesday afternoon meeting.

Looked into Property in Ontario.

Purpose built apartment in 2010. 10 minute walk to the University of Waterloo.
Very interesting dorm like layout. 6 units , 5 bedrooms per unit, with a common area living room and kitchen. Thirty bedrooms total.

#12
https://www.point2homes.com/CA/Multi.../78977413.html

Interesting thread... If you don't mind answering, do you think investing in BC real estate right now still a good idea as far as residential goes?? Live on Vancouver island and just bought first house in Nanaimo last year, at about 50% higher price than 2016 value, but looking for more now possibly. In another thread I had you mentioned definitely not lower mainland BC, but even at like 30% average cost in Nanaimo its still pretty high.

If you are investing the general answer would be no. There are many factors that may move you towards investing in BC, but I don't think any of them apply to you.
A typical reason is that you have seven figures to invest and want to put it out of your country (which is not Canada) and into a save location where you have relatives. This is the typical scenario for overseas investors.
Very specifically you may have reasons to invest here, such as local knowledge; an in with the seller; other half of the duplex you are living in
If you are looking to invest.
Going back to basic RE investing, you want to get income from

a) positive cash flow (that is simply not possible in greater Vancouver and most of Vancouver Island)
b) forced savings/principle gains when you make a mortgage payment
c) capital appreciation. (this accounts for all your gains in BC)
The only problem is do you have enough cash flow from other properties to make your mortgage payments on that RE. If you lost your job for 6-12 months, could you cover the payments? If you lost the tenant AND lost your job for 6 months, what then?

On a side note, I have received several emails from a Vancouver Island developer to invest in Langford Gateway. I will not be investing there. If you are still interested in Van Island, do some research into Langford itself. When Victoria rejected Walmart, Langford's Mayor told them to build in in Langford.

thanks for the advice. we will buy a second house one day, most likely wait a couple years and see what the market does and reassess in a couple years. I did grow up 10 minutes away from Langford and the town has really improved over the years (I think they had like 25% unemployment in the early 90s and wasn't very nice) and is still relatively affordable compared to the capital city. All of my friends who managed to buy a house within Victoria bought around Langford.

What I did today to further my goals.

Finished homework assignment #19 of the Rental Licence Course.

Registered for Builex in Vancouver. There are several companies sponsoring atendees from my office, but I do not want to listen to their lecture. I am going for a lecture on how to keep your B and C class tenants.

I have a super busy week. Today was a 13h day.
this week is Meeting, Meeting, Meeting, (3 different properties), Buildex convention on Thrusday, Warehouse appraisal on Friday, Investment Seminar on Saturday.
somewhere in there I have to notify my office tenant I will not be renewing his lease. After that I need to get the lease and deposit from the new Tenant.

Almost finished Robert Greene's book the Laws of Human Nature.
The most important concept in the book is P466.

"As early in life as possible, you train yourself to disconnect from the emotions roiling the group. You force yourself to raise your vision, to imagine the larger picture. you strain to see events in themselves, uncolored by people's partisan opinions. You entertain the perspectives of the enemy; you listen to the ideas of outsiders; you open your mind to various possibilities. In this way, you gain a feel for the gestalt, or overall shape of the situation. you game out the possible trends, how thing might play out in the future, and in particular how things could go wrong. you have infinite patience for this exercise. The more deeply you go into it, the more you can acquire the power to discern the future in some form. "

That is why i am here posting, hoping one of you will tell me where my plan is wrong and how to improve it.

Why do you think something somewhere in your plan is wrong? Keep it simple stupid. I will read that book.

RE is mindset and networking, knowledge is necessary but only a small % of it leads to "success". My partner and I are going on a weeklong "vacation" trip in ste lucia in the caribbean with 199 other investors next week. My weakness is networking and this is nothing but networking, we'll see how that goes Today we had breakfast with an architect who has a conception firm in multi-residential/commercial buildings to talk gross numbers about our big project. We finally came to a verbal agreement with the seller at the start of this week, after discussion with that architect (I think calling him an architect is almost like dissing him, dude's an investor genius) we will re-do our offer and it will be beneficial to both parties.

Wish we'd of closed our big deal before going on this trip but it's fine. Here's a quick followup. We have to talk to lawyers before presenting this new offer. The major challenge of this transaction is one of the brother of the seller, who happens to be an accountant and is monitoring the transaction. He's a major problem because he's way out of his league and has zero creativity. Our construction cost for the total project will be over 80 millions... and the sellers are taking advice from this potato because he's the brother and they trust him blindly.

The plan is we'll all be meeting in a few weeks, our expert in business transaction will be on call with us at 400$/hour. That's cheap as hell. He should be able to convince everyone (including that little accountant) about the best way to do this transaction.

Someone else is obviously eyeing up this land. Hopefully it's not too late.. that "investors" bought 10000m2 of land right next to this for 4m250

Sellers asking price is 4m... for 25000m2
The land will need a lot of investment before it's ready to build, can't be calculated right now too many factors. Easily over 2m will need to be reinvested.

Land's value when ready to build 300 units = 7m500
We think we can build 400 units, so optimal value is 10m

We're buying that 12 units that is basically a dumpster. It doesn't even register in my brain compared to the land tho! Final price = 800k, plus we receive a 36.9k check at closing (real price 765k). Plus 100k seller financing, 3% interest, seller takes collateral equity on our other buildings and not this one, because we can't refi to maximal leverage if he took equity on this deal. We will be able to refi everything out and will still have his 100k to play with for a few years!

So basically real downpayment for this 12units is around 70k, we will re-inject 200k in renovation after closing. Should be able to refi all of it next year or this summer at best, worse case scenario is 3 years.

That should be it for a while. Really starting to figure out what to do with land right now, I think land is the future. We'll keep buying badly managed properties but will be focusing a lot of our energy on land. Very stimulating

Not to derail the thread, but why do you want to work your ass off to make 100k/month? Does your lifestyle need that type of money? Are you out to prove something to people? To each his own, but that seems like a bit of overkill. How can dealing with a million headaches be better then traveling the world, or just doing whatever the hell you want to do everyday?

If 50k/month isn't enough to make you happy/satisfied, 100k won't either.

I feel really bad. I missed the free investment seminar for a project in TX. This was all networking but I totally forgot. I did 5 days 12h days in a row and I forgot I had a Saturday morning seminar.

Thanks for this Kekeeke. I always like to hear out of the box solutions to any type of problem. Your financing solution seems to be a combination of other solutions used on previous projects.

Thanks for the question onemoretimes.
I was satisfied at 5k/month and retired at 47.
ok here goes as to why I think I am doing this.
So if you have ever heard of Maslow's hierarchy of needs, at the top two spots are Esteem and Self Actualization. The basic premise is that you cannot move up the pyramid until you fulfill all the blocks of the pyramid below. At the bottom are physical needs such as food/shelter/clothing etc.
I think I was at the Esteem level, trying to go for Self Actualization. I tried doing volunteer work and whatever came to mind that interested me. I was on the council at my Church and did other volunteer work etc.
Although I found it interesting, It did not move me towards being any more self fulfilled/actualized (best that you can be, whatever you want to call this.) What I did find was that when I talked to others, they seemed to have all the same problem.
"Not enough funds to do what they wanted. "

The thought crossed my mind that I am pretty good at making money, and I had always shirked the responsibility of managing other peoples money. I have several parties at my home every year with 30-40 people who show up and essentially see each other only once per year in a large group setting. They always asked me in the past what was going on, and after hearing me talk about my RE investments, some have asked to invest with me. I always turned them down. Now I have made it my mission to gain the skills to confidently take investors money and buy RE.

Many of the top poker players here moved into either RE or stock investing (post poker). I picked RE because I can solve problems and actually affect the result of the returns on the property. I have zero ability to do this in stocks. It is just do research / invest.
So I am where I am now.
i randomly picked a huge number that I never expect to get to, but hell, if I say 100k and end up at 50k per month net income that is not bad!

I did networking on Thursday, but it was mostly contractors for different suppliers and trades showing off their goods at Buildex. The one seminar I did go to .. "How to retain your B and C class Tenants" was focussed on medium sized landlords who have multi use, residential/commercial properties. The key takeaway is
if you have the space
1) End of Trip facilities are good, like lockers and showers for bikers etc.
2) do not put in gym facilities unless they are top notch
3) a yearly BBQ funded by the landlord where you meet your neighbors is very good (also get the accountant /management co to set up a booth here.
4) can substitute ice cream days or some other freebee for the tenant as long as they know its from the landlord/mgmt co.
Was not helpful for single residential or smaller multi family single purpose properties.
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The Appraisal of the Warhehouse went ok on Friday. Will get that report by Feb 29. as long as the seller supplies the necessary docs. Form B, Stata minutes, insurance, lease, etc.
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Sent the new office lease to the tenant. The current office tenant was given notice, I am not renewing his lease On March 15, 2020.
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Replied to lawyers letter re : Family commercial property. Added my corrections and comments. This letter will get sent this week.
in short, market rent is 40k, .. other relatives with interest offered 18k for rent. My part of the family (no reply) but have the reply prepared by a commercial RE lawyer.
Will see how this goes. It will probably be very interesting to report on, as there may be a funny twist coming. (and not by me.. but I am predicting one. Ask me what It is and I will give you my prediction.)
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did not work on homework for Rental Licence. Sill have 3 meeting minutes to finish writing up and I have two more coming up; One tomorrow and an AGM on Thursday.

What I did this week to further my goals

Finished reading Laws of Human Nature.
Purchased The way of the Wolf by Jordan Belfort (the wolf of Wall Street)
I have already listened to many of his podcasts. I will need his skills when I start trying to get investors.
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Got all the requested documents to the appraiser. Should have the valuation in 10 days. One partner is asking about how the investors should own the property, in a corp or partnership and whether (if it is a company) should the company have a bigger mortgage or smaller mortgage. No answer from me as every one of the investors has different things to take into account.
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Approved the revised letter from the Lawyer. Recipient has until approx March 2 to respond.
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Things are slowly moving along. I have some time this weekend and will look at more property.

Lots of things done in the last week.
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Half way through The Way of the Wolf. It is an easy read and good book if you do not know sales. Looking for my next "March" book. Will likely be Crime and Punishment.
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Vancouver-Kansas swap. Warehouse was valued at 2.06M. Instructed lawyer to form corporation to hold this property. Nice dip in the interest rate will improve our numbers.
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Family Commercial Real estate. Got reply regarding my lawyers letter saying rent is due and we will be bringing a suit if no resolution...
The response was from two separate parties. One saying that my family does not own the property. The other reply from a relative who is a lawyer. .. saying he will be ordering the company to shut down and sell off all the property. There is such a long back story here but I will not spell it all out.
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Finished my last assignment for the Rental Licence program. The exam is scheduled for April 15.
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Had to sign up (as a Strata Manager) for a mandatory Money Laundering Course that I will take this week.
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Was a very busy February for me 10 meetings for 9 different properties that I manage. Last meeting was today. Now I have a break for 2 1/2 weeks. I will go back and focus on properties to invest in.
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On a side note, I do have cash (dry powder) on the side and will be buying equities over the next 1-6 months. My first buy was a gold mining stock last week.
I also own physical gold which i have set a sell point of $1800 for the first bit.

I'm guessing you have a managing business with employees?

In the introduction of my thread, I revealed that I am a Strata Manager (Community Manager of HOA's if you live in the US).
I work for a large property management company based in Texas. I deal with a wide range of problems. from bylaw infractions, capital repairs, insurance claims, irate owners/tenants, collections and annual maintenance. I took this job as part of my training to own more of my own RE. I oversee about 2M in annual budgets so I approve +150K in invoices every month from a list of maybe 200 trades in about 50 or so categories from Arborists, Alarm monitoring, to Window Cleaning.
This was one of the required training that I set out for myself. If someone says flashing, astragal, moon key, tube vault, sump, catch basin, adjuster, betterments, Make up Air Unit, etc, I can now speak with some knowledge on the topic and it is much harder to put one over on me. (on my own property)
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the next skill set that I have in my plan is the Rental Managers Licence. Most likely I will work for the same company and get transferred to rentals. I have done rental agreements for 25Y for myself but I have never done any evictions or gone to the tenancy board. I also do not know any tricks for getting large numbers of tenants, or how large companies profile tenants, red flag, or give discounts etc. My rental exam is April 15, 2020.
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What I did this last week to further my goal.

I completed the mandatory Anti Money Laundering course for Real Estate Professionals. it deals 90% with Traders.
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I am almost finished my February Book Way of the Wolf , but as part of my sales pitch, I am going over the section on Scripts slowly as I want to write out my basic script and looping technique to overcome typical objections.
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Kansas-Vancouver swap. I had a lawyer quote me on the incorporation and partnership docs. $2300-$2500. One of the other investors is a retired (non practicing lawyer) who will likely get one of his friends to do this or write it up himself. My preference is to pay for it. I will send the layer/partner a copy of one used in a property I invested in Ontario.
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Vancouver Commercial Property.
The Lawyer representing my family on this one has written up a Notice of Civil Claim for me to review. Some of the Statement of facts are not correct. They mixed up the landlord and tenant companies names. (the names are similar) This is one of my two main work items this weekend.
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I have considered moving up my next RE investment date because of the Drop in the interest rate by 50 basis points this last week.
I did my research and looked for any new Apartments in Edmonton and Calgary.
https://www.point2homes.com/CA/Multi.../86365308.html
The property does not fall under my guidelines, but I just post it here to show i am still looking. This is really the only new listing in 30 days. There are other "Fake" new listings. Old listings taken down and put up again so that it does not say it was listed +120days ago.
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On a side note I invested another "relatively" small (under 10k) in equities this last week. This will continue every two weeks or so until the covid-19 outbreak is contained and the markets start recovering.

Interesting times. Figured I'd give a small update on my side

Just got our financing for our 12 units. Really happy with it. Also refinanced 2 buildings with massive equity gains. Infinity returns ��

We don't really care about corona, it's gonna be a bumpy ride, nothing we cant get throu. Still talking to sellers, still trying to close that big deal I talked to you about earlier in your thread. We're past 4 months of negotiating back and forth now. Turns out we can make over 450 units on that land, plus 30000 square feet of commercial. Other buyer only wants a part of the land, so they are out. I think we'll get it in a few weeks, very good rapport with the sellers so we're trying to do a transaction where both our risk are mitigated, easier said than done!

Hope you are doing alright business & health & family wise

Aside from the general lifestyle change, everything is going ok for now.
I hope things work out for you as well.

What I did this last week to further my goal.

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I switched books that I had on my reading list and picked up an old book just to review it. The Ultimate TFSA guide.
I have two sons over 19, and started transfering cash to them and instructed them to top up their TFSA and make "riskier" investments. I gave them a talk on EV and Risk. A $1000 investment in a company that has 50/50 of bankrupt or 8x return in 1 year is worth $1750 compared to say an index that has a 100% chance of returning 40% in 1 year which is worth $400. You can tell me if I am wrong here(the assumptions are fairly vague and can easily change), but the idea is what I wanted to get across. My older son made a great investment choice i thought; Air Canada at $11.30. I said Canada only has one real national carrier and the government would not let it go Bankrupt, as opposed to the last time the economy tanked. Canada, let the #2 carrier, "Canadian" go BR. Canada has to have a carrier that will fly to places like Prince George or Ft. McMurray. A flight (pre covid) from Vancouver to PG cost the same or more than a flight from Vancouver to Hong Kong.
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Kansas-Vancouver swap. The ball is in their (my partner's) court to form a corporation and prepare the articles of incorp. I did do a follow up email and asked them if they needed help. No reply from my partners in the last week.
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Vancouver Commercial Property.
I sent my edits on the Notice of Civil Claim to my Lawyer, with some supporting documents.
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One bit of bad news, but not unexpected. My Examination for my Rental Licence has been cancelled. The exam is usually held in a hall with +200 other test takers. No timeline for when the exams will be starting again.
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Vancouver/Delta Warehouse.
I did an inspection last week with the tenant moving out. Only a few lights to fix. I gave the new tenant the keys and told them they could wire me the rent and damage deposit by April 1st and I would email the signed lease. (I will not be going out for an extra trip. Normally I would pick up the cheque, drop the keys and signed lease docs.)
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It is a buyers market now. Cash is king, so i a large part of my day is now taken up by reading investment news. I continue to invest in "Small (10K/week)" amounts over time. I will not be able to call the bottom, but I do think it will bottom out before I run out of funds to invest.