Renting your home out in Canada. - mortgage interest

QUESTION:
We plan on moving in the near future.  We want to keep our present home and
rent it out.  Is this a good investment?
=================================
david ingram replies:
It would have been a great idea anytime in the last 4 years, but it was not
a good idea from 81 to 86.
I happen to be a person who thinks that our real estate bubble has run its
course for a while and that all the inflation of the 2010 Olympics, etc. has
already been built in.
That does NOT mean that it is a bad or good idea now.
The worse that will happen with NO inflation is that a tenant will pay 90%
of your investment over the next 20 or 25 years.
Go ahead but do it wisely.  Since your email address identifies you as a
"local" take advantage of Fred Snyder's Free Thursday night Seminars.
Listen to his program every Sunday Morning at 9 AM on 600AM Radio.
Think up a question to ask and get a free invitation to his seminars which
for the next two and a half months are geared to income tax and making your
mortgage and other interest tax deductible.
Goto www.centa.com and read the November 2001 Newsletter in the top left
hand box.  First published in November 1976, this newsletter gets downloaded
30 to 300 times a day and was the first published item I know of on how to
make Canadian mortgage interest deductible.
---------------
Answers to this and other similar  questions can be obtained free on Air by
david ingram on the last Sunday of each month.
On the last Sunday at 9:00 AM on 600AM in Vancouver, I, david ingram will be
a guest on Fred Snyder of Dundee Wealth Managers' LIVE talk show called "ITS
YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
Call (604) 280-0600 to have your question answered.  BC listeners can also
call 1-866-778-0600.
Callers to the show and questioners on this board can also attend the
Thursday Night seminars on finance and making your Canadian Mortgage
Interest deductible.
I will be at the seminar following the last Sunday of the month.
------------------------------
 David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
Home office at:
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
Calls welcomed from 10 AM to 10 PM 7 days a week (please do not fax or phone
outside of those hours as this is a home office)
email to taxman at centa.com <mailto:taxman at centa.com>
www.centa.com <http://www.centa.com/>  www.david-ingram.com
<http://www.david-ingram.com/>
Disclaimer:  This question has been answered without detailed information or
consultation and is to be regarded only as general comment.   Nothing in
this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader and the author and any
and all non-contractual duties are expressly denied. All readers should
obtain formal advice from a competent and appropriately qualified legal
practitioner or tax specialist for expert help, assistance, preparation, or
consultation  in connection with personal or business affairs such as at
www.centa.com <http://www.centa.com> . If you forward this message, this
disclaimer must be included."
Be ALERT,  the world needs more "lerts"
David Ingram specializes in giving expert income tax and immigration help to
American and Canadian citizens living out of their home countries from
Zimbabwe to Saudi Arabia to Mexico to China or Chile - Cross border,
Non-resident - dual citizen - out of country investments are all handled
with competence and authority.
This from "ask an income tax and immigration expert" from www.centa.com
<http://www.centa.com/>  or www.jurock.com <http://www.jurock.com/>  or
www.featureweb.com <http://www.featureweb.com/> . David Ingram deals on a
daily basis with expatriate tax returns with:
multi jurisdictional cross and trans border expatriate problems  for the
United States, Canada, Mexico, Great Britain, United Kingdom, Kuwait, Dubai,
Saudi Arabia, Thailand, Indonesia, Japan, China, New Zealand, France,
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India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba,
Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK,
GB, and any of the 43 states with state tax returns, etc. Rockwall, Dallas,
San Antonio Houston
Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and Immigration
Tips, Income Tax  Immigration Wizard Antarctica Rwanda Guru  Consultant
Specialist Section 216(4) 216(1) NR6 NR-6 NR 6 Non-Resident Real Estate tax
specialist expert preparer expatriate anti money laundering money seasoning
FINTRAC E677 E667 105 106 TDF-90 Reporting $10,000 cross border transactions
Grand Cayman Aruba Zimbabwe South Africa Namibia help USA US
Alaska,  Alabama,  Arkansas,  Arizona,
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