All Forum Posts by: Darren Horrocks

 The examples would be REPAIRS, not Cap Expenses unless there were upgrates include.  Eg:  A casement window replaced with a double pane, eGlass.

IMO, it's hard to upgrade a roof, so that too is a repair, but the CPA will amortize it as capital expense.

Perform due diligence and claim necessary repairs to be performed by seller.

Think I need to read up on distinguishing the two better. Any suggestions?

Hah yea it really isn't that terrible tbh! 400S to black creek drive, and about 1hr 20 i'm at work! 

The market is pretty competitive in Barrie, inventory is really low. Anything that comes up with investment potential typically has 10 offers on it that very same day. And the prices people are paying makes me wonder how they can be profitable. 

I have an off market deal that is reasonably undervalued, and with great opportunity to add value (register as legal triplex, update units, etc).

However, I just found out that the latest updates were completed in 2003 and that the property will be in need of major CapEx improvements in the near future (roof, furnace, Windows).

assuming it will cashflow even after including the CapEx costs into the cost to purchase. Just more money up front, and I am a buy and hold investor.

What would would you do? 

Note: the seller is not motivated to sell unless they get around their asking price, so pushing back to ask for a reduction in price is not an option.

Hey! Welcome :)

I live in Barrie but work in T.O, definitely understand your gripe with Toronto being too hot. 

Curious how you settled on Alabama, and why you decided to invest so far from home?

 Do you also acquire 50% of the equity/property? 

And how do you go about getting 100% afterwards? And what's the timeline that might happen? Or is this A-typical for JV, and more short/mid term private lenders?

 Ah this makes sense, good to know and keep in mind! Thanks :)

 Out of curiosity, what would cause the extra scrutiny?

I am curious what ppls thoughts are on Estate Planning, and how often you update your Will after purchasing more and more property?

Any insights welcome!

Haha two Darren's responses. Perfect! (And he spells it correctly! :P )

I am considering this at the moment as well, however I have decided that I will take the courses purely for the education. The courses themselves are relatively cheap, and I think the knowledge is going to be extremely valuable for my future.

Whether I choose to get licensed or not has yet to be seen.

Goodluck with your decision!

How can you buy that game!? hah I would love to get my hands on it, but the prices on Amazon are insane.

Suggestions?