OLD Duplexs(75+ age)

[Aditya Soma]

Hello Everyone,

I hope everyone is doing great.

I'm planing to buy my first rental property, started to looking at Duplex's in Windsor, ON I see that only OLD Duplex's are at reasonable prices(100,000 - 150,000) where as Newer ones are costing more then 200,000. 

For Older one worried about the Expensive Major Issue due to age. on Newer one I don't see any CASH FLOW. can someone please suggest me what would be the way to kick start my REI journey

Thanks 

Aditya 

[Cassidy Logsdon]

Hi Aditya!

I am an investor from Windsor as well, and I have found the same trend with duplexes in Windsor. However, both in the older and newer duplexes, there is a lot of opportunity for increasing rents if you are able to replace tenants before too long. We have 2 triplexes on Lincoln which are both old and needed a bunch of work. However now we are able to charge high rents and have no problem filling the units. 

My partner and I host a networking meetup for investors in Windsor, you should come check it out! Next one is Tuesday October 4th at 6:30, at the Royal LePage on Provincial. We play Robert Kiyosaki's game Cash Flow and talk about Real Estate. You can also find the details on meetup.com.  I'd love to talk more about possibilities with duplexes and triplexes in the area. 

Hope you can make it!