The Blog.

Buying, Selling, Investing and everything in between.

11 Things to Consider When Looking for Your Perfect Neighbourhood

The perfect neighbourhood. For some, this phrase might bring up images of white picket fences, children playing on the street and neighbourhood BBQs. For others, the perfect neighbourhood might be alive with diverse sights, sounds, smells and people. Finding the perfect neighbourhood depends on what is important to you. Below, we’ve put together a list of things to consider when making the decision on where to live next. Type of Home First off, what kind of home do you want to live in? Are you looking for a single family detached? A high-end condo? A family-friendly townhouse? Do you want a small yard? A big yard? No yard? A pool? Knowing what type of home

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Maximizing the Cash Flow of your Investment Property

You’ve purchased your first investment property, congrats! Now it’s time to get to work! Beyond the immediate required repairs, your first job is to try to maximize the cash flow. What is cash flow? In laymen’s terms, cash flow is the money you have left after deducting all of your rental expenses including mortgage payment, insurance, property taxes, vacancy, maintenance, management and repairs (don’t forget about HOA/strata fees if you own a condo). It may also include hydro, gas and water if the rent is inclusive of utilities, plus any extras like snow removal, garbage pickup and lawn care. Hopefully you’ve bought a property that is cash flow positive in its current state (we always

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Interview with a Mortgage Broker - everything you need to know about financing

We promised you it was coming and the it is finally here! We sat down with Jennifer Rossides, a local mortgage broker here in Ottawa, and asked her all of your burning financing questions. And man, did she deliver! So without further ado, let’s get to the interview… First and foremost, what is a mortgage broker? A mortgage broker is a licensed professional who provides unbiased advice and compares mortgages from a variety of lenders to find the best option for their clients. A mortgage broker is a kind of middle man between the client and the lender/bank. Why should I work with one? Is it going to cost me more money than just going

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Due Diligence: A Guide for Real Estate Investors

When we talk about due diligence, most people think about a property inspection. And we agree, a property inspection is an absolute must during the conditional period if you have not already completed one prior to putting in your offer. Alternatively, have a qualified General Contractor (GC) complete your inspection so you can also get quotes on the required work. You might also want to book other trades in during your inspection so you can have estimates for all the work needed on the property. Going beyond the home inspection, we need to talk about financial and legal due diligence. If you skip these parts of your due diligence, you may end up with a

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So you’ve analyzed numbers, done your property walkthrough and the property meets your standards. Now it’s time to consider gathering your team and putting in an offer. For this stage, you’ll want to be working closely with your mortgage broker/lender and your real estate agent. Mortgage Broker/Lender First off, you need to make sure your financials are in order. You’ll want to let your mortgage broker/lending agent know you plan on putting in an offer and have your pre-approval in hand. You also need to have your money in order including the cash deposit, 20% down-payment and closing costs (typically 1-2% of house value). We have an interview with a local mortgage broker coming up

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Spring Home Maintenance Tips - Keeping your home in tip-top shape

The sun is shining, the birds are chirping, Spring is here! Well, it may not feel like it yet with all the snow still here, but it is definitely on it’s way. We’re talking about spring maintenance today; what you should be doing, what you should be spending and why maintenance is important. Before we get into the what, let’s talk about why home maintenance is so important. Like anything, preventative action is better than reactive actions. You take your car in for regular oil changes and maintenance. You go to the dentist for regular cleaning and checkups (or at least you should be). Your home is no different. Spending a little time and money

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Michael Murphy, Ottawa Realtor

Hi, I'm Michael

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