All Forum Posts by: Account Closed

Deanna McCormick here in Canada we don't have security deposits, I took ownership of the property a month prior and the 5 day wait on repair is due to lack of availability on repairmen, I know this is a long delay for a repair, she didn't create a police report and my suspicion is that the damage is due to tenant domestic dispute

My tenant called me regarding a broken door, I had scheduled a repair on the door the following Monday (5 days after the call) however when I arrived the day of with a contractor, I found the door to be completely unusable and evident signs of a crow bar being used to force the door open, I had the lock replaced and repaired, now the whole door must be changed, who is liable to pay the repair costs, the tenant is very dodgy about how the door came to this state so I Have to assume this was either a break in or she forcefully broke into the unit, thanks in advance for any replies.

Dean Hulsing sorry I did not elaborate but already had gotten quotes on repairs needed, with largest estimates at 7k I total repair costs would you include this in purchase price or have seller take care of it ?

Hey guys, what is the better financial move when looking at a rental property that requires repairs,negotiating the repair cost into the final deal and dealing with the repairs with your own contractors in the hopes that your repairs cost less than estimated price ? OR having the seller repair by their own means before buying at a higher price? Thanks in advance

Hello BP, I'm currently looking for a real estate agent to do business with in the Greater Montreal area, I'm looking for a buy and hold investment property so would preferably like to work with someone who specializes in this niche. If you think we could do business together, contact me and we can get further into the details as to what I'm looking for. Cheers! 

Haven't seen any Canadian real estate investors on BP as of yet, looking to get more of an understanding of the market up here before my first investment !

Sounds like a convenient way to receive rent, as far as I'm concerned, more tenants should be able to do this!

Sue Kelly the worse off area is generally more gang infested and has a considerably higher crime rate, while the property is located on a street that is somewhat better than the whole area as a whole the area is in more or less a decline, the property itself is still reasonably close to all the services but definitely not the family friendly neighbourhood that property A is located in, would you say this justifies the large price difference ? In this case 80k difference in listing price.

I am currently looking at two triplex properties, both of which are in good conditions, Property A, in the better neighbourhood is significantly more expensive yet has very similarly potential cash flow as property B in a worse off area, what is the best investment in this case? Property A because of appreciation in the coming years ? Or Property B because of the lower cost and similar cash flow, what are some things to consider in this scenario? Vacancy? Repair costs? what are some of your similar experiences with similar investments ?

Chris Eaker that sounds solid, thanks for the advice!