All Forum Posts by: Darren Horrocks

you mentioned what the property options could rent for, but didn't mention cash flow or NOI, so I guess I would suggest looking at your goals and which one will set you up best for getting your next and next!

I'd assume after 8 years of ownership you have equity in this home. 

I'd rent your current home, move out into a multi to live/rent and then snowball the cashflow and ur savings into your next downpayment. 

Moving isn't a big deal. Goodluck!

i don't see why having a proper/enthusiast photographer take quality pictures of your units would put a strain on your partners relationship with his realtor... ?

If I was a realtor ID be thankful that someone was willing to take that on for me, especially if the pictures I took were as poor as the example you showed.

Seems logical to want to have a professional product be displayed in a professional way.

Thats awesome, thanks @Debbie Gilbert - I don't plan on using property management atm, but I just want to start planning for the future, so thank you for the referral.

Hi,

I was wondering if anyone can recommend a property management company operating in Barrie and Orillia, or exclusive to Barrie or Orillia? For small multi-family properties, 2-4 units each.

Preferably you have used their services, and highly recommend them.

On the other side of that, any PM companies to avoid in these areas?

Thanks!

ya, I completely agree /w the post above. 

Leaving that offer on the table for when a seller comes to their senses is a good idea. And if someone else is willing to overpay for it, let them. It has to fit your criteria, don't bend to make it fit.

 Can we discuss the Private capital or credit partners a bit more? 

Assuming I want to hold the equity 100% in my portfolio:

- How would you structure the agreement?

- What terms or type of return would you offer the private investor to still make it attractive to them? (period of time, % interest, etc)

- How long would you tie up their money before refinancing the property for the ARV?

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Assuming I want to share the equity /w my investor:

(Same questions as above)

 This is really solid advice, thank you. Would you mind if I send you a colleague invite and contact you through PM? My closing date is fast approaching, so I would love to have someone to bounce ideas off, and get feedback and advice.

This is fantastic! Congratulations! 

This is exactly what I hope to do in my area. I just wish my prices were similar to yours! 

 These are fantastic! Thank you! And if you think of any more, please add them.

What would you say is the one system that has contributed the most to your success?

I am pretty new to REI and I am closing on my first properties within a month! I would like to be as prepared as possible for that time, so things go super smooth.

I constantly hear ppl saying to breakdown everything into systems, and create a 'one pager' for them. This is what I would like to do! Can you help me flesh out this list?

• Move-In & Move-Out checklist
• Tenant maintenance request/complaint
• Collecting rent/Deposit
• Bookkeeping income/expenses
• Tenant Screening
• Unit Cleaning
• Unit Advertising
• Tenant Application Process
• Routine Maitenance dates and contractors
• Potential Property Walkthrough/Inspection Checklist
• List of common replaced materials (location/cost/sku)
• List of updated Refi documents

What else can you think of!?!