All Forum Posts by: Justin H.

Jeff,

Feel free to IM me. You won't make money with 3 bedrooms. Go for 4-5.

One of mine are 6, the other is 7 beds

Congrats BRad - thats amazing! 

PS - you already own your first income property!

Had a friend buy one in Niagara Region.

$66K walked into what he thought was GOLD.

It was a duplex that had wires exposed, was beside a bar that had 2 stabbing deaths in 2 years and was a duplex ...... with a HOLE cut in the drywall to accommodate the family of 8  into both sides of the unit. Swear on my life.

Be careful lol

'Im from Ontario, went to an Ontario university and tell everyone that was 4 years of fun/wasted time.

That being said, I wouldn't have my corporate job without a degree, which has allowed me to start qualifying for mortgages thanks to this income that would not have been there, had I neglected to go to school.

Unless you plan on working in a trade or hands on, go get a college diploma locally. What aspect of real estate are you into? Rehabs? Sourcing Money? Managing?Until you decide this you cannot decide on a program.

Justin from Holland Landing, ON

Awesome, congrats Joe!!!

100% I would go 5% downpayment and put the other $45K into another home in the area (one of the $200K rentals)

@Rob Murphy - Both homes have separ

Separate kitchens and baths up & down. Up/down access is locked so it appears as 2 different units, and not 1 complete gongshow lol.

@Dea Chu - Thanks for the recommendation – Rob I have 2 student rentals in Southern Ontario (St Catharines).

Maybe something that would make sense for you to start is buy a current student rental?

If you want to start on your own:

• A)Need zoning confirmation

• B)Need to do a good job of seeing what others offer

• C)For a student rental, all Income/expenditures need to be done per unit/bed – 5/6/7 beds nets you different results

• Google "Student rentals st johns for rent" and see what you could get as if you were a student. Rather than bottom up research, start from the top as "what a student wants/pays gets in the area", and then work your way down to what as a REI would make sense.

For example, I paid $195/$209 for my 2 homes here, and have one 6, one 7 bedroom, both 2 bath homes.

The $195K needed $15K in rehab and $209, about $1K in paint. so call it S210K each.

House #1 Gross Rent – 6 rooms $425/piece - $2,550/mo

House #2 Gross Rent – 7 bedrooms 400 basement – 425 up - $2,875

We offer unlimited wifi and clean and bright homes (even though one home is 90 yrs old, the other is 30 the interiors and offerings are the same).

I say aim to be the best and you will get the best.

sounds like she is an idiot lol

Welcome from Holland Landing ontario ;)!