All Forum Posts by: Frederic Babeux

Hey Ryan,

Like it's been said, there are plenty of houses that meet the 1% rule in Rochester. I'm currently under contract to sell my duplex in Edgerton and that is around 2%+. 

However, it's not a single family and I think the area is more of a C. 

Best of luck! 

We provide stove & fridge, as it was mentionned before by @Nathan Gesner it is mainly to avoid wall dents and scratches during move in or move out. The tenants like it and it seems to be common in our market here in Rochester NY. We provide stainless appliances because they're only 50$ extra over white or black and give that extra ''luxury'' feel in a freshly remodeled unit.

Best of luck!

To be honest, I wouldn't base my investment decisions on appreciation only. How big is the building? How much will you put down? Can you do some value add? Is the negative cashflow after management, repairs, capex, vacancy etc. ? Those are all questions you should ask yourself. Keep in mind you will also have to deal with the Régie du Logement, which is quite strict on rental increases.

From what I've heard, deals in Montreal are rare and if you manage to find one, you better be the fastest man on the planet to make an offer cause they go fast. Why not look outside Montreal? I think it would be a mistake to limit yourself to Montreal only, considering there are much cheaper properties to be had outside that region.

Best of luck!

I think that stainless is a good buy considering its only about 50$ more compared to white or black in most stores.

Gives your place a more modern look for real cheap!

I wouldn't buy those for a war zone though.

Why not just try to ride it out? I'm sure AirBnb will reopen eventually. Then you can go back to earning some decent money by putting it on AirBNB.

It all depends what your goals are - are you in it for a quick buck or the long haul? Your plan will be different for each.

Why not just take first month payment plus deposit and prorate the 15 days either next month or right now if tenant is financially able to do it?

Just did that with a unit that just came out of reno. Granted it was only prorated rent for about 6 days or so. Still got full first month + deposit + 6 days of rent.

@Elizabeth Harding What area and what kind of price point are you talking about? I invest in Rochester and I've found some interesting properties close to Albany - just wondering if you're talking about 50k houses or 300k.

Congrats on the two sold flips too :)

I'm a financial advisor based in Canada and like most have said, it's mostly for investing in the markets, tax and estate planning etc. 

Wealth construction and preservation is all about having a plan in place. However, I tend to agree that most advisors will not recommend that you invest in real estate (besides reits) because they are not compensated on those assets.

I feel real estate has so much wealth building power but most financial advisors are not real estate investors, which to me is quite weird since you should be aware of all wealth creation tools out there.

I tend to agree with other posters that what you might be looking for is more of a mentor. Once you have a couple properties you could get advice from a financial advisor or a tax expert on tax and estate planning.

Best of luck! 

I looked where the price to rent ratios were better than where I live and also, driving distance from my home. I ended up buying a duplex in Rochester NY last june, so far going well!

How about refinancing it and pulling that extra 30% value out of it? This lets you keep the property and avoid taxes (if you were to sell instead).

Why sell a performing asset?