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Southgate MHP Regulations

South Gate Mobile Home Park (SGMHP)

1226 Lawlor Road, Nanaimo, B.C. V9R 6L6

Regulations

These regulations are established for the benefit of all. Failure to comply with these regulations may result in eviction from SGMHP. We ask your cooperation and assistance in complying with the following:

1.    CHANGES - The management reserves the exclusive right to relax, amend or waive any of these regulations as it from time to time deems necessary and these changes shall be posted in the common areas.

2.    COMPLAINTS - Any complaints barring a violation of the regulations must be presented to the management in writing and must be signed before they will be acted upon.

3.   CONDUCT - Tenants are responsible for the actions, conduct and safety of themselves, their families, guest and pets, and will be held liable for any and all damages caused by themselves, their servants or others and the tenant assumes all such responsibility.  The Landlord shall not be liable for any death or injury or damage to property of the Tenant or of other located in the Park nor for the loss of or damage to any property of the Tenant of others by theft or otherwise, for any cause whatsoever, whether or not any such damaged, loss or injury result from the negligence of the Landlord, its agents, servants, or employees, or their persons for whom it may be responsible.  Without limiting the generality of the foregoing, the Landlord shall not be liable for any injury and damage to persons or property resulting from fire, explosions, gas, electricity, water main or snow or leaks from any services provided by the Landlord.  The Landlord shall not be liable for any such damages caused by other tenant or persons or common areas of the park.  The tenant acknowledges that no supervision whatsoever will be provided by the Park in these common areas, and that these areas are used entirely at the Tenant's own risk.

4.   DOGS - No new dogs may be brought into the park without permission of the management. Pets must be controlled at all times, and will not be allowed to create a nuisance or a hazard to other tenants and when on common property shall be on a leash not exceeding 6 feet in length.  Tenants are responsible for removal and disposal of all feces from their pets.

5.      GUESTS - The permission of management must be obtained for any guests that stay in excess of thirty (30) days.

6.      HANGING LAUNDRY - Outdoor clotheslines are not permitted within the park.

7.  INDEMNITY - The Tenant will indemnify and save harmless the Landlord from and against all fines, liens, suits, claims, demands and actions of any kind or nature to which the Landlord shall or may become liable for or suffer by reason of any breach, violation or non-performance by the Tenant of any covenant terms or conditions hereof or by reason of any injury occasioned to or suffered by any person or persons or any property, by means of any wrongful act, neglect of default on the part of the Tenant, his employees, invitees or licensees.

8.   INSURANCE - All occupants must have insurance on their own mobile home and its contents, as well as third party liability insurance.

9.   MODIFICATIONS TO UNITS - If additions or porches are to be added, the management must approve the plan before work commences.

10. NO NUISANCE - The Tenant will not use or occupy the demised premises or permit or allow the same to be used or occupied other than as a private dwelling accommodation for himself and his family and further the Tenant will not cause, maintain or permit the occurrence or maintenance of any nuisance or illegal or immoral activity within the said manufactured home or upon the demised premises.

11. NO SOLICITING - is permitted within the park and no commercial business of any nature is allowed within the park.

12. NOISE - No music or loud noises likely to disturb other tenants shall occur after 10:00 p.m. or before 8:00 a.m.

13. NOTICE – 1 month written notice of intention to move from the park must be tendered to the management prior to the first day of the month in which the move is planned.  Normal rental will be payable up to the end of the month during which the move takes place.

14. OUTDOOR FIRES - No open fires are permitted within the park boundaries, unless permission is obtained from the management.

15. PARKING - Parking is permitted on designated paved areas only.  Parking on the grass is not permitted and will be towed at owner’s expense.

16. PAYMENT - Twelve (12) postdated cheques are to be provided for payment of rent in each year.  A twenty-five dollar ($25) charge will be levied for late payment or NSF cheques.

17. SALE AND RENTAL - Tenants wishing to sell or rent their manufacture home must obtain the approval of the management as to the prospective purchaser(s) or tenant(s), such approval not to be unreasonably withheld.

18. VEHICLES - The park speed limit is 10 kilometer per hour (or 5 miles per hour).  The operation of snowmobiles or motorcycles in the park is prohibited. No overnight parking or storage of boats, campers, trucks or manufactured homes is permitted without approval of the management.  Such vehicles may be subject to a storage fee. Unless unavoidable, no automobile repairs will be permitted within the park. Minor maintenance, such as changing a tire, may take place at the discretion of the management.  No inoperable or uninsured vehicles will be stored within the park. Such vehicles will be towed at owner’s expense.

19.   WATER BILLS - Water bills must be paid on receipt.  A twenty-five dollar ($25) charge will be levied for late payment.

20. YARD LANDSCAPING AND APPEARANCE - Approved vinyl skirting must be installed within thirty (30) days of occupancy.  Skirting must provide opening doors of a minimum width of four (4) feet to provide access to service connections under the home and must be ventilated to allow a cross flow under the home.  Weather permitting, landscaping to be completed as soon as reasonably possible, in any event not later than 60 days after occupancy.

21.   YARD MAINTENANCE - Yards must be kept clean and free of unsightly debris.  Lawns must be cut.  Failure to keep yards clean will result in the management cutting the lawn or removing debris.  A minimum fee of $25 will be levied for this service.

Shaya Magrath, Nanaimo

I Chris J. Slater of Nanaimo, B.C., Canada have been a net millionaire in Real Estate Investments (R.E.I.) in Victoria, B.C., Canada in the past and I wouldn't have been able to do that but for my TENANTS, so I love them and do all I can to accommodate them.

Here is a link to a book, partly about me and some of my friends called The Best Real Estate Deal I Ever Did. In here I tell how a trailer I bought for $50 started my real estate fortune.

At the Empire Days Parade in May, 2014 I met Shaya Magrath of Nanaimo, B.C. and became aware how she needed accommodation for herself, her husband Robert and a cat as they were living in a motel and needed help.Over lunch at the New Hope Center it was decided that my friend Karen and I would show Shaya my trailer at #4, 1226 Lawlor Road, Nanaimo (Southgate Mobile Home Park - SGMHP)

I had been forced to relocate there after Residential Tenancy Arbitrator, Ms. Mannerin had foolishly found for Margaret McCarthy of Myles Lake which led to my having strokes and a heart attack.

Shaya Magrath, Robert Hogan and I entered into a rental agreement after they faraudulently obtained the keys and they moved in.

Because of damages to my trailer and SGMHP I had to give Shaya and Robert Notice to Vacate.

During and after their tenancy they fraudulently obtained services from me and the Nanaimo RCMP.

Finally I got a Writ of Possession, they were forced out but here are some of the damages they did:

MOST IMPORTANT MOVIE ON AMERICA EVER. PERIOD. - Agenda: Grinding America...

Roommate Wanted

http://www.kijiji.ca/v-room-rental-roommate/nanaimo/across-from-the-hospital/577888781

Date Listed	22-May-14
Price	$375.00 all inclusive; Disabled female, welcome.
Address	1681 Boundary Avenue #213, Nanaimo, BC V9S 5N1, Canada View map
Furnished	No
Pet Friendly	No

Single Female; Intent to Rent forms available. Fixed Address so you can get your shelter allowance; this is one lockable bedroom 9x13' in a large 2 bedroom suite for $375 / month, everything including utilities. No pets. (as there is already an older cat in residence). This is an elevator and controlled entrance equipped apartment at the Waverly Manor, 1681 Boundary Avenue, Nanaimo, B.C., across from the Nanaimo Regional General Hospital (they are always looking for professional, skilled and volunteer workers, walk to work!) #3 bus line to Woodgrove or downtown, then # 4 to Vancouver Island University. Share furnished living - dining room, fridge, stove, kitchen, 4 piece, disabled, hydrojet equipped bathroom, storage and balcony. Coin-op laundry, all services a short walk. rent includes heat, lights, in room high speed wi-fi internet, local land-line telephone (long dist. extra) w/ answering machine, and basic in room cable T.V.. To obtain application to rent, viewing and deposit requirements, please contact Chris at 250 591-3845 or email as above.

For better pictures please go to:http://www.kijiji.ca/v-room-rental-roommate/nanaimo/across-from-the-hospital/577888781

 










http://www.kijiji.ca/v-map-view.html?adId=577888781&enableSearchNavigationFlag=false

Chris J. Slater or YOU, R.E.I.

Short Course on Becoming a REI, R.E.I. or Rei

Hello, I am Chris J. Slater, R.E.I.  or Chris J. Slater REI or Chris J. Slater, Rei and I am a Real Estate Investor. .

Why?

Because I say so!

Would you like to become one too?, (for instance) Sally B. Quick, R. E. I. or whatever your name (fill in the blanks) _ _ _ _ _  _  _ _ _ _ _ _ _, R. E. I. ?

Now you are!

I much prefer to be a  R.E.I. or REI and open the door to real estate MILLIONS than an MBA, CPM, PSYCH, M.D., Eng or whatever quack others think to become!

But WHAT are you?   

As a person thinketh, so are they! 

If you think you can or if you think you can't, you are absolutely right!

So let's look at Wikipedia for a short course in becoming an REI, or rei and once you do, please let me know of this under comments of your life changing decision?

This is not for the lazy, BE SURE TO READ TO THE END, OK?

Real estate investing

From Wikipedia, the free encyclopedia

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2009)

Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. Real Estate has traditionally outperformed the Wall Street equity market. A street by street knowledge of the market make it perfect for small savvy investors. Large institutions lag behind trends. Improvement of realty property as part of a real estate investment strategy is generally considered to be a sub-specialty of real estate investing called real estate development. Real estate is an asset form with limited liquidity relative to other investments, it is also capital intensive (although capital may be gained through mortgage leverage) and is highly cash flow dependent. If these factors are not well understood and managed by the investor, real estate becomes a risky investment. The primary cause of investment failure for real estate is that the investor goes into negative cash flow for a period of time that is not sustainable, often forcing them to resell the property at a loss or go into insolvency. A similar practice known as flipping is another reason for failure as the nature of the investment is often associated with short term profit with less effort.

Contents

• 1 Sources and acquisition of investment property
• 2 Sources of investment capital and leverage
• 3 Sources and management of cash flows
• 4 Risk management
• 5 Foreclosure investment
  • 5.1 Foreclosure statistics
• 6 See also
• 7 References
• 8 External links

Sources and acquisition of investment property

Real estate markets in most countries are not as organized or efficient as markets for other, more liquid investment instruments. Individual properties are unique to themselves and not directly interchangeable, which presents a major challenge to an investor seeking to evaluate prices and investment opportunities. For this reason, locating properties in which to invest can involve substantial work and competition among investors to purchase individual properties may be highly variable depending on knowledge of availability. Information asymmetries are commonplace in real estate markets. This increases transactional risk, but also provides many opportunities for investors to obtain properties at bargain prices. Real estate entrepreneurs typically use a variety of appraisal techniques to determine the value of properties prior to purchase.
Typical sources of investment properties include:

• Market listings (through a Multiple Listing Service or Commercial Information Exchange)
• Real estate agents and Real estate brokers
• Banks (such as bank real estate owned departments for REO's and short sales)
• Government entities (such as Fannie Mae, Freddie Mac and other government agencies)
• Public auction (foreclosure sales, estate sales, etc.)
• Private sales (off-market transactions for sale by owner For sale by owner)
• Real estate wholesalers and investors (flipping)

Once an investment property has been located, and preliminary due diligence (investigation and verification of the condition and status of the property) completed, the investor will have to negotiate a sale price and sale terms with the seller, then execute a contract for sale. Most investors employ real estate agents and real estate attorneys to assist with the acquisition process, as it can be quite complex and improperly executed transactions can be very costly. During the acquisition of a property, an investor will typically make a formal offer to buy including payment of "earnest money" to the seller at the start of negotiation to reserve the investor's rights to complete the transaction if price and terms can be satisfactorily negotiated. This earnest money may or may not be refundable, and is considered to be a signal of the seriousness of the investor's intent to purchase. The terms of the offer will also usually include a number of contingencies which allow the investor time to complete due diligence, inspect the property and obtain financing among other requirements prior to final purchase. Within the contingency period, the investor usually has the right to rescind the offer with no penalty and obtain a refund of earnest money deposits. Once contingencies have expired, rescinding the offer will usually require forfeiture of the earnest money deposits and may involve other penalties as well.

Sources of investment capital and leverage

Real estate assets are typically very expensive in comparison to other widely available investment instruments (such as stocks or bonds). Only rarely will real estate investors pay the entire amount of the purchase price of a property in cash. Usually, a large portion of the purchase price will be financed using some sort of financial instrument or debt, such as a mortgage loan collateralized by the property itself. The amount of the purchase price financed by debt is referred to as leverage. The amount financed by the investor's own capital, through cash or other asset transfers, is referred to as equity. The ratio of leverage to total appraised value (often referred to as "LTV", or loan to value for a conventional mortgage) is one mathematical measure of the risk an investor is taking by using leverage to finance the purchase of a property. Investors usually seek to decrease their equity requirements and increase their leverage, so that their return on investment (ROI) is maximized. Lenders and other financial institutions usually have minimum equity requirements for real estate investments they are being asked to finance, typically on the order of 20% of appraised value. Investors seeking low equity requirements may explore alternate financing arrangements as part of the purchase of a property (for instance, seller financing, seller subordination, private equity sources, etc.)
If the property requires substantial repair, traditional lenders like banks will often not lend on a property and the investor may be required to borrow from a private lender utilizing a short term bridge loan like a Hard money loan from a Hard money lender. Hard money loans are usually short term loans where the lender charges a much higher interest rate because of the higher risk nature of the loan. Hard money loans are typically at a much lower Loan-to-value ratio than conventional mortgages.
Some real estate investment organizations, such as real estate investment trusts (REITs) and some pension funds and Hedge funds, have large enough capital reserves and investment strategies to allow 100% equity in the properties that they purchase. This minimizes the risk which comes from leverage, but also limits potential ROI.
By leveraging the purchase of an investment property, the required periodic payments to service the debt create an ongoing (and sometimes large) negative cash flow beginning from the time of purchase. This is sometimes referred to as the carry cost or "carry" of the investment. To be successful, real estate investors must manage their cash flows to create enough positive income from the property to at least offset the carry costs.
With the signing of the JOBS Act in April of 2012 by President Obama there has been an easing on investment solicitations. A newer method of raising equity in smaller amounts is through real estate crowdfunding which pools accredited investors together in a special purpose vehicle for all or part of the equity capital needed for the acquisition.

Sources and management of cash flows

A typical investment property generates cash flows to an investor in four general ways:

• net operating income (NOI)
• tax shelter offsets
• equity build-up
• capital appreciation

Net operating income, or NOI, is the sum of all positive cash flows from rents and other sources of ordinary income generated by a property, minus the sum of ongoing expenses, such as maintenance, utilities, fees, taxes, and other items of that nature (debt service is not factored into the NOI). The ratio of NOI to the asset purchase price, expressed as a percentage, is called the capitalization rate, or CAP rate, and is a common measure of the performance of an investment property.
Tax shelter offsets occur in one of three ways: depreciation (which may sometimes be accelerated), tax credits, and carryover losses which reduce tax liability charged against income from other sources. Some tax shelter benefits can be transferable, depending on the laws governing tax liability in the jurisdiction where the property is located. These can be sold to others for a cash return or other benefit.
Equity build-up is the increase in the investor's equity ratio as the portion of debt service payments devoted to principal accrue over time. Equity build-up counts as a positive cash flow from the asset where the debt service payment is made out of income from the property, rather than from independent income sources.
Capital appreciation is the increase in market value of the asset over time, realized as a cash flow when the property is sold. Capital appreciation can be very unpredictable unless it is part of a development and improvement strategy. Purchase of a property for which the majority of the projected cash flows are expected from capital appreciation (prices going up) rather than other sources is considered speculation rather than investment.

Risk management

Management and evaluation of risk is a major part of any successful real estate investment strategy. Risks occur in many different ways at every stage of the investment process. Below is a tabulation of some common risks and typical risk mitigation strategies used by real estate investors.

Risk	Mitigation Strategy
Fraudulent sale	Verify ownership, purchase title insurance
Adverse possession	Obtain a boundary survey from a licensed surveyor
Environmental contamination	Obtain environmental survey, test for contaminants (lead paint, asbestos, soil contaminants, etc.)
Building component or system failure	Complete full inspection prior to purchase, perform regular maintenance
Overpayment at purchase	Obtain third-party appraisals and perform discounted cash flow analysis as part of the investment pro forma, do not rely on capital appreciation as the primary source of gain for the investment
Cash shortfall	Maintain sufficient liquid or cash reserves to cover costs and debt service for a period of time,
Economic downturn	Purchase properties with distinctive features in desirable locations to stand out from competition, control cost structure, have tenants sign long term leases
Tenant destruction of property	Screen potential tenants carefully, hire experienced property managers
Underestimation of risk	Carefully analyze financial performance using conservative assumptions, ensure that the property can generate enough cash flow to support itself
Market Decline	Purchase properties based on a conservative approach that the market might decline and rental income may also decrease
Fire, flood, personal injury	Insurance policy on the property
Tax Planning	Plan purchases and sales around an exit strategy to save taxes.

Foreclosure investment

Main article: Foreclosure investment
Some individuals and companies are engaged in the business of purchasing properties that are in Foreclosure. A property is considered in foreclosure when the homeowner has not made a mortgage payment for at least 90 days. These properties can be purchased before the foreclosure auction (pre-foreclosure) or at the foreclosure auction which is a public sale. If no one purchases the property at the foreclosure auction then the property will be returned to the lender that owns the mortgage on the property.^[1]
Once a property is sold at the foreclosure auction and the foreclosure process is completed, the lender may keep the proceeds to satisfy their mortgage and any legal costs that they incurred. The foreclosing bank has the right to continue to honor the tenants lease (if there is a tenant in the property), but usually as a rule the bank wants the property vacant, in order to sell it more easily.^[2] Thus distressed assets (such as foreclosed property or equipment) are considered by some to be worthwhile investments because the bank or mortgage company is not motivated to sell the property for more than is pledged against it.

Foreclosure statistics

U.S. foreclosure activity dropped to a 74-month low in April 2013, with 144,790 properties with foreclosure filings. Although still about twice as high as the average 75,000 per month in 2005, it was 60 percent below the monthly peak of more than 367,000 in March 2010. - See more at: http://www.inman.com/2013/07/09/the-foreclosure-crisis-is-over/#sthash.eNrqJEjm.dpuf, with about one of every 100 U.S. households at some stage of the foreclosure process, according to the latest numbers from data aggregator RealtyTrac.^[3]

See also

• Capitalization rate
• Cash on cash return
• Creative Real Estate Investing
• Flipping
• Internal rate of return
• Investment Rating for Real Estate
• Real estate appraisal
• Real-estate developer
• Real estate investor
• Off plan property
• Wholesaling
• Depreciation Recapture

References

1. Levinrad, Lex (2010-12-17). "Investing in Foreclosures For Beginners". Distressed Real Estate Institute. Retrieved 2012-12-31.
2. Portman, Janet (2008-02-07). "Foreclosure causes heartache for renters". Inman News. Retrieved 2008-02-24.
3. "The foreclosure crisis is over". Inman News. 2013-07-13. Retrieved 2008-07-22.

External links

• Analysis and Investing In Real Estate
• Business dictionary: Real estate definition

[show] v t e Real estate

Categories:

• Real estate
• Investment
• Income
• Real estate investment trusts
• Congratulations for reading this far, now in order to truly be an R.E.I. PROFESSIONAL (means makes money, no longer an AMATEUR) you need to take some actions:
• 1. bookmark and continue to follow this blog. COMMIT to YOUR Success.
  
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• 2. Comment and let Chris J. Slater REI know of your decision to join our exclusive group!
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• 3. Coming soon: PROFESSIONAL REI: setting up your office, what equipment and forms you need INCOME TAX: Revenue Canada, IRS, etc.