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Tax Write Offs for Rental Properties

January 30th, 2012
  • For all my clients with rental properties:

    Tax Write-offs - Allowable expenses include:
    - Advertising
    - Mortgage interest (not payments)
    ... - Property taxes
    - Repairs and maintenance
    - Utilities
    - Office supplies (receipt books, etc)
    - Travel (for you to do or supervise repairs at the unit but these are limited to airfare and rental car - no hotel)
    - Insurance
    - Management fees ...

BC Resort Foreclosures

January 27th, 2012

 

Tower Ranch Golf Resort in Kelowna - 18 holes, designed by Thomas McBroom, zoned for 580 residential units. In receivership for over a year now. Originally listed for $21.5M. Reduced to $14.5M which works out to around $25,000 per door for the existing lots.

 

108 Resort in the Cariboo - 548 acres, 18 hole golf course, tennis courts and a 42 unit lodge. Listed for $3.8M.

 

Tobiano ...

Aviawest Resorts under court protection

January 27th, 2012

Aviawest resorts is facing $97 million in debts on five B.C. resort projects and is under court protection until March 29. Aviawest owns the flagship Parkside Resort and Spa property in Victoria. Pinnacle Lodge at Sun Peaks Ski Resort near Kamloops; the Water's Edge Resort in Ucluelet; the Pacific Shores Resort and Spa at Parksville, and condominiums in downtown Vancouver.

 

--

Alexa ...

Tofino Waterfront Resorts in Foreclosure.

January 27th, 2012

Two Tofino waterfront resorts in foreclosure: Cayoquot Orca Resort near Chesterman beach is a 40 unit building listed for $2.95M and Duffin Cover Resort is a 13 unit building listed for $2.35M.

--

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Manning Park Resort in Receivership.

January 27th, 2012

Manning Park Resort near Hope, BC is in receivership. Property includes nordic and downhill skiing facilities, a lodge and chalets and a pub/bistro. The resort owes $700,000 in taxes and more than $1M to providers.

 

--

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Court-ordered sale: Saratoga Beach Golf Course

January 27th, 2012

Court-ordered sale: Saratoga Beach Golf Course on Vancouver Island - 9-hole executive course with 37 acres of development land close to the beach. Listed for $1,490,000.

 

--

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Alex@LakeOkanaganRealty.com

Tobiano Golf Resort in trouble!

January 27th, 2012
The 18-hole, high-end troubled Tobiano Golf Resort, at Kamloops has been on the market since last September. Receiver Bowra Group said the developers owe the Bank of Montreal about $26 million, and there is also money owing to suppliers. Lot prices were slashed in half in 2010, but only three lots sold all of the last year.

--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870 ...

108 Resort in the Cariboo for sale.

January 27th, 2012
The 108 Resort in the Cariboo. It includes 548 acres and an 18-hole golf course, tennis courts and a 42-unit lodge. The asking price is $3.8 million 

--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Alex@LakeOkanaganRealty.com 

Town Ranch Kelowna in Receivership

January 27th, 2012
Tower Ranch Golf Resort in Kelowna (18 hole golf course). Opened in 2008. It is zoned for 580 residential units overlooking Kelowna. Tower Ranch went into receivership last year. The original list price has been slashed from $21.5 million to $14.5 million. This works out to about $25,000 per door for the existing lots. 


--
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.279 ...

Only 3 Townhomes available at Waterscapes!

January 25th, 2012
There are only three townhomes available at Waterscapes in Kelowna. 4 were built, but the developering is keeping one for himself thus only 3 will be put up for sale. They are not on the market yet. Price put is just under $700,000. They are STUNNING! Large, 1800 sq. ft. , 3 bedrooms, 2 levels, laundry room, fabulous kitchen/opening living room. Direct access to pool. Love them! 

--
Alexandra R ...
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