What do I need to be aware of if I choose to resell property early (in Alberta)?
You will have no problem doing this for one home and living in it for one or two years.  There's a recent court case with around six homes bought and sold by the same person in that time frame.  That's what you've probably heard about.  There's no hard and fast rule about when it becomes a business but here are some highlights from that court case. Among the criteria developed by the case law, the following are of   note: Constantin v. The Queen, 2014 TCC 327 (CanLII)
Although it seems almost no one here understands that you're advocating for personal liberty rather than discrimination, I just want to say that you're not alone in feeling the way you do.  I personally would choose not to patronize a business that carried out its affairs in such a way, but I would also fight to protect their right to be able to operate their private property (lol like that exists anymore) in the way they choose and see fit.  I disagree with the civil rights act protections applying to private businesses and property. Depending on your bank you may receive an ACH discount for doing automatic withdrawals from a deposit account at that bank. Now, this depends on your bank and you need to do independent research on that topic. As far as dictating what your extra money goes towards each month (early payments, principal payments, interest payments) you need to discuss that with your bank. I'm sure it's not too difficult to find. In my experience most banks, so long as you didn't sign a contract on your mortgage where you're penalized for sending additional money, will apply extra money toward early payments, and not principal. I would suggest calling them. I know for my student loans I have to send a detailed list of my loans and in what order I want my extra payments toward each, otherwise it will be considered an early payment, or it will be spread evenly among them all. "I purchased a portable A/C unit from Amazon from a third party reseller, when it died after 18 months the seller had vanished and I had no evidence/proof/contact to make a claim. Manufacturer warranty was only 12 months so no luck there either.  Resellers need to bake returns into their profit margin. The example in the article of electronic devices being ""too complicated"" is a good example. A non tech savvy person wants an intuitive device instead of reading a bunch of instructions, big box stores and Amazon itself realize it's a legitimate return. Someone born in the 90s trying to make a quick buck reselling imports can be like ""it's easy, just do steps A, B, F, Q, Z"" when a non tech person may only remember A+B" Instead of going to the dealership and not knowing if you will be able to get a loan or what the interest rate might be, go to a local credit union or bank first, before you go car shopping, and talk to them about what you would need for your loan.  If you can get approval for a loan first, then you will know how much you can spend, and when it comes time for negotiation with the dealer, he won't be able to confuse you by changing the loan terms during the process.  As far as the dealer is concerned, it would be a cash transaction. That having been said, I can't recommend taking a car loan.  I, of course, don't know you or your situation, but there are lots of good reasons for buying a less expensive car and doing what you can to pay cash for it.  Should you choose to go ahead with the loan, I would suggest that you get the shortest loan length that you can afford, and aim to pay it off early. There are many basic services that the business should be offering but are not. This can easily increase sales by 100k per year. Due to old age of the owner, he refrains from doing so. I just want to make sure the business is in good standing on the books. "Leverage means you can make more investments with the same amount of money.  In the case of rental properties, it means you can own more properties and generate more rents.  You exchange a higher cost of doing business (higher interest fees) and a higher risk of total failure, for a larger number of rents and thus higher potential earnings. As with any investment advice, whenever someone tells you ""Do X and you are guaranteed to make more money"", unless you are a printer of money that is not entirely true. In this case, taking more leverage exposes you to more risk, while giving you more potential gain.  That risk is not only on the selling front; in fact, for most small property owners, the risk is primarily that you will have periods of time of higher expense or lower income.  These can come in several ways: If you weather these and similar problems, then you will stand to make more money using higher leverage, assuming you make more money from each property than your additional interest costs.  As long as you're making any money on your properties this is likely (as interest rates are very low right now), but making any money at all (above and beyond the sale value) may be challenging early on.   These sorts of risks are magnified for your first few years, until you've built up a significant reserve to keep your business afloat in downturns.  And of course, any money in a reserve is money you're not leveraging for new property acquisition - the very same trade-off.  And while you may be able to sell one or more properties if you did end up in a temporarily bad situation, you also may run into 2008 again and be unable to do so." Don't over analyze it - check with some local landlords that are willing to share some information and resources  Then analyze the Worst Case Scenarios and the likelihood of them happening and if you could deal with it if it did happen Then Dive In - Real Estate is a long term investment so you have plenty of time to learn everything..... Most people fail.... because they fail to take the first leap of faith !!! If the company that owns the lot is selling them it is doing so because it feels it will make more money doing so.  You need to read carefully what it is you are getting and what the guarantees are from the owner of the property and the parking structure.  I have heard from friends in Chicago that said there are people who will sell spaces they do not own as a scam.  There are also companies that declare bankruptcy and go out of business after signing long term leases for their spots.  They sell the lot to another company(which they have an interest in) and all the leases that they sold are now void so they can resell the spots.  Because of this if I were going to invest in a parking space, I would make sure: The company making the offer is reputable and solvent Check for plans for major construction/demolition nearby that would impact your short and long term prospects for rent. Full time Rental would Recoup my investment in less than 5 years.  Preferably 3 years.  The risk on this is too high for me with out that kind of return.