All Forum Posts by: Ben Stevenson

 A good real estate attorney could help you with that. 

You will likely receive the building's status certificate (I believe it's mandatory here, in Ontario, Canada). You can pick through it yourself but there's generally a lot of lawyer-speak in it. 

A building we were looking at was brand new so we didn't think there was any sense of looking at the reserve... however, our lawyer dug up a pending slip and fall lawsuit as well as a 30% increase in maintenance fees the month we were going to close on the condo, then another 10% in the new year. All found in the status certificate.

Ideally the closer the comp, the better... but as long as the houses are within the same school district, you're good. The condition of the neighbouring houses will be a factor too.

Look for an owner-occupied percentage rule in your HOA. You may have to get on a list to be able to rent out your unit.

Also... ensure the reserve is healthy if the building is old.

There's absolutely no way I can make this one, but I'll see you all at the next :) 

As long as you qualify for the loan (if you require one - I don't know your circumstances), it does not matter.

Good luck.

Hi Ervy,

I am in almost the EXACT same position as you - and no co-sign. Please let me know if you figure something out, and I will do the same.

Best regards,

-Ben

Listen to your gut.

As you said, it sounds to me like she’s trying to rent the condo for her daughter, but her daughter has some sort of stain on her record/credit that impedes her ability to be approved for an apartment. 

Always assume the worst case.

A meetup would be a fantastic opportunity to meet some of you. Would definitely be interested.

Well, you're definitely in the right place.

Have you considered starting with the BP Ultimate Beginner's Guide (UBG_2018.pdf)? Lots of great information throughout this site.

Best regards,

-Ben

Joe, 

I really appreciate your quotes/beliefs, they really made me evaluate my current mindset. I wrote a couple of them down, I hope you don't mind.

Good luck with all of your future endeavors and congratulations on the 4169 unit portfolio.