All Forum Posts by: Ben Le Fort

Thanks, everyone. Seems like I should strike the thought of renting it from my mind lol. 

Rent as of today would be appprox $2,200- $2,400 

All costs (excluding repairs) would top out at approx $1,900

So it would likely cashflow pretty good. Most of all I think our neighbourhood/market has a very positive long term outlook. In 10 years this thing could be worth quite a bit so my instinct is to hold onto it.

Hi All,

Quick summary, my wife and I are considering the possibility of moving in the next few years and are trying to figure out if our house would make a decent rental or if we should just sell and invest the profits.

Our house, 3 bedrooms 1100 St ft (plus finished basement) raised bungalow, with a giant backyard. In a very established neighborhood that has both similar houses to ours, much bigger houses on one end and multi-family rentals on the other end. 

House is worth anywhere between $500-$520 we owe $330 and would be down to about $290 on the mortgage by the time we would consider moving. 

My wife is concerned that our finishes on the inside of the house are "too nice" to be a rental. I'm split between that making it hard to rent or that being a good thing to price us in a range with higher quality tenants.

Would love to hear from you all on what you would do?

Thanks,

Ben

Thanks, Andrew. Yeah I guess a big factor will be where the stock market is in 3 years. The Real Estate market where the house is located pretty much just increases by 2-3% per year. Even in 2008 prices did not drop too, too much. 

in 3 years time, I project we will owe about $185 and the house will be worth anywhere in the $285-$300 range (if prices continue to edge upwards). If there is a crash in the stock market it might be looking quite attractive to take the equity and invest it in tax-preferred accounts.

Lots of variables! But a good problem to have.  

Hi All,

I have been pondering a question lately and thought I would get everyone's thoughts on the subject.

My wife and I live in Ontario, Canada and we rent a house in Nova Scotia to my parents. My parents are considering moving out here in 3 years when my mom hits retirement age.  At which point we will be faced with a decision: Sell the house in Nova Scotia, or Rent it out?

We bought this house this January and really got an awesome deal. We paid $220K put 5% down and will put in another $5-$10K in improvements over the next few years. 1/2 a year later and our neighbor's houses are selling between $260k-$280k. 

When my parents move here in 3 years we will put 5% down on a house here in Ontario  and do the same thing. Prices are a lot higher here but we would not need any of the equity to get the 3rd house locally. I am not super stoked about the idea of owning an out of province rental (to a non family member) but am not ruling it out. 

My question: What should we do in 3 years, take the equity and reinvest elsewhere or keep renting and building equity with decent cashflow?

Thanks,

Ben 

Hi All,

I'm living in Kitchener-Waterloo, Ontario Canada. The real estate market has been very hot here the past few years. we moved into our detached house in 2016 and paid $375K and it is currently appraised at around $500K. 

My wife and I recently bought our first income property in Halifax Nova Scotia (a less expensive market and my hometown). 

I want to accelerate my real estate investing and have been thinking of ways to tap the equity in our primary residence which has fallen into our laps (currently about $160K in equity in less than 2 years). 

We are playing with the idea of selling the house, realizing our increase in equity (in Canada gains on a primary residence are tax-free). Downsizing into a townhouse and investing the $150k (or whatever we walk away with after fees and closing costs) and reinvesting that capital into more cash flowing income properties out East. 

What do you think is this an Insane idea or brilliant?  

Thanks,

Ben 

Hi, 

Thinking of buying a new house and renting out my current house within the next few years. The neighborhood has really shot up in value over the past few years and houses are selling for $500k+.  

My question is there a formula you use to determine rent in high-value areas (maybe 0.5% of value?) or should I really only be going off-market/rent reports for my area? 

Thanks,

Ben 

Hi, I just bought my first rental property, I am looking to acquire more single and or multi family rentals as soon as possible. I am wondering if I should hold these rentals in a corporation/LLC or in my personal name? My main concern is liability/being sued, i've been lead to believe incorporating will reduce my personal liability.

Thanks,

 Ben