All Forum Posts by: Frederic Babeux

If they are paying market rent and are taking care of the unit, I see no issues.

Some people don't like section 8 because you hear about all the bad tenants mostly (I had one myself that had drug, violence and hoarding issues, swat team even knocked down two of my building's doors cause of said tenant)

But I think there is also a difference with regards to the region where your building is. Section 8 tenant in SF Bay area is probably much different than the Rochester, NY section 8 I had.

I think demographics play a big role in this and we should not jump to conclusions nor discriminate on the fact that a tenant is section 8.

Best of luck to you!

@Ronald Rohde

It is located in California

@Ronald Rohde

No it is in the US.

@Kim Hopkins

What does the current lease say about subletting? That could be your leverage on your current tenant.

Also, you mention a penalty of 35k if tenant doesn't leave, does that mean that they would reduce their purchase price by 35k and accept the building with current tenant until the end of his lease?

Hello all,

I am doing some research on a potential purchase and I was wondering what kind of interest rates are offered on owner occupied cold storage warehouses?

Also, what kind of LTV can you get?

Building value is about 5m$.

Thank you!

Very interesting story, will follow as I was looking into citrus farms in belize not long ago out of curiosity.

Can't wait to see your progress and experiences as you go forward!

If the tenant has been living there for more than 2 years, the notice is 90 days. Happened to me in Rochester. Had my pm give him notice.

Thankfully the tenant left by himself at the end of the 90 days. If he didn't, I believe that is when you start the eviction process.

@Erik Ped

Look into the following book : owning u.s property the Canadian way by David a altro.

I read it before buying in NY in my personal name, I'm ''only'' a Canadian citizen but the book was of great help!

Best of luck!

@Eric Martin

Why not just go straight for the 12 units? I'd rather have one building to maintain than two and it's probably cheaper on a per unit basis to go straight for the 12 units.

@Ryan Bilak

Yes, after all reserves and fees I was at about 200 per door per month