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Thank you everyone. On Monday, we were devastated because we had worked so hard to pull this deal off, and it then became obvious to us, the Vendor didn't want to sell. He was doing everything to delay, so we would default. We had signed up 2 of the new tenants personally, acting as agent...

update We closed on the 4 bedroom house with the 4 mobiles yesterday.As usual, it wasn't without the "scary moments" We thought we had a good working relationship with the vendor, as it was a private deal. Within 23 days of the closing, the vendor reneged on the Vendor Financing of the 10%...

Ozperk, Thank you. What would happen in a wrap, if the the person you are wrapping the property for, cannot make the mortgage payments? With us, as soon as they default, they can be required to leave, or just continue making rent payments.Depending on the time of year, market conditions...

Update on House + 4 mobile property. The owner had to evict the tenant of the house for nonpayment of rent.We are working together to find a new tenant.Actually having an Open House today. I had advertised looking for a handyman tenant who would be willing to do flooring, painting etc if we...

In the livable parts, it can be -40C and then there is the windchill factor. Other parts you drive over the ocean, as it is frozen.

Yes, they do claim that NS has the mildest winters.In the winter it doesn't go below -20C too often. I don't remember it being warmer than 36 C in the summer.

ahhh...but can you handle the -20 cel in the winter, that lasts, for what seems like 9 months of the year? :)

The tenant pays for all utilities. We pay the property taxes and maintain property insurance. They are required to have Tenant Insurance. This is for their liability and personal belongings.

OO, I don't even expect to outlay the 10%. I need to re finance a mortgage, so taking all the equity I can. This is for my downpayments. If a tenant trashes the place, we would take them to Residential Tenancy Board, just like any other tenant. As far as I know, we don't have Landlord...

Not sure either Boomtown.A wrap mst be very similar? We buy a property. We rent it to a tenant at fair market value (in Canada it is required to be CF+) We promise to sell this property to them in 2 yrs at an agreed price.They also pay an monthly Option payment This Option and Downpayment...

We find almost all of our tenants on Kijiji, which is similar to your Gumtree. We just put an ad that stated we are willing to do Rent to Own. I then send them our details of how we do them.

Boomtown, Yes, you are correct. Personally, I'd never do one.

Sunfish, Not sure what writing calls on shares means. I guess everyone invests in areas they feel confident in. I try to explain and encourage my co worker to try a Rent to Own.She looks at me and says honestly, "I have no idea what you are talking about half of the time, with this...

Because a lender pulled out of Canada, when one of our mortgages came up for renewal, we are required to find a new one. We figured we might as borrow all we can from this property's equity.The left over funds are going to finance downpayments on a few more houses. (that's the plan anyways) We...