Quotes of the Day

If you are buying an older condominium, you should check to see what percentage of the monthly payment is being allocated toward Contingency Reserve Fund, as there is a higher risk of needing to use the fund in older buildings than in new developments. In older buildings, the fund should likely be 25% or more, depending on the circumstances. In most cases you are not entitled to a refund of your contribution to the reserve fund when you sell your unit, or have it calculated on the purchase and sale statement of adjustments. [2006] - Douglas Gray

Keep your headline short. Don't use abbreviations unless you are sure that people will understand them. [1998] - Jay Conrad Levinson

The boom phase is the most exciting phase of the real estate cycle for inexperienced real estate investors. It is less exciting for strategic investors, who will capitalize on the momentum of the boom, with its higher values and rents, but who also know that the late slump and early recovery phase offer better opportunities in terms of new investment purchases. The longer and stronger the boom, the greater the likelihood of a more severe downturn during the inevitable slump. [2011] - Don R. Campbell

Your landlord can't change the locks because you haven't paid the rent. [2015] - Kris Anderson

Commercial buildings are generally valued on the basis of their rental income. Typically, banks will lend 50 percent of the appraised value of a commercial property. It is generally much easier to instantly increase the value of a commercial property from the low purchase price you paid to the new appraised value after you have owned the property for a few weeks. The reason is simply that an empty residential property still appraises for close to what its value would be if it were occupied. However, an empty commercial building is not worth much at all. [2001] - Dolf de Roos