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Updated almost 6 years ago on . Most recent reply

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Brady Moxham
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6
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Looking for first rental property

Brady Moxham
Posted

Just starting out in real estate investing (21 years old, just out of college, no student debt, starting first full time teaching job in Canada in January). My brother and I are looking to partner in our first property. I found a local building that has 4 units with a combination of 6 bed and 3 baths, do not know a lot about the property other than its a conditional use rooming house. After factoring all expenses it cash flows around $1000. Not sure if this is something I want to get into for my first property, I have heard stories about rooming houses having tough tenants/evictions. Its within budget $145K with a 20% downpayment, and good cashflow. Anyone have good/bad experiences with rooming houses? 

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