All Forum Posts by: Account Closed

I place much higher value in work references. Many landlords and most pm’s are essentially negligent and not clued in. That said, provide false address and false duration when confirming.

Most beautiful location I’ve ever been to. 5hrs of extreme turbulence on he way back just about broke me though. I woke up early every day just to browse listings before we started our touring.

If your profit was dependent on minimizing time spent on a particular unit, you’d do it too. Vast majority of pm companies aren’t looking out for you as much as you’d hope they are.

Require a key to the new lock be provided also, if I understand correctly the male tenant changed it? And insert a fee for lease requested amendments. Including ending lease early. I charge $125 to reprogram locks and $500 if they end early.

Bad idea. If you’re worried about tenants breaking little things just don’t renew them & work on your screening process. This clause roughly guarantees all small items will get neglected

You need to price it as a duplex. If it cash flows and makes sense as a duplex, no issues moving forward. You run it as is and bank the extra cash for the conversion when it gets reported. Price it as a duplex and budget for the conversion (including any downtime for renovations).

Don’t stall, be upfront. Karma is a bugger. Unless your market is “hot”, you’ll get more than your allotment of applicants who say “yes I’ll take it”, then are busy the next 4-5 days until they can sign a lease... and hit the wind like a fart only to disappear.

Do folks with above 650 credit usually rent in your area?

I’m not intending to get into a measuring match here... but .8%? Cmon. Nobody with any skill level is getting that in “Canadian real estate”. I could perform a self lobotomy and at least double that. The market I invest in is down noticeably (& I own a condo that is down substantially in my market due to nearly a decade of overbuilding) and I’m still well into double digits.

Get specific on your goals and timeline. Honestly, all things considered, I believe there are better provinces to invest in. General rule: never get married on a sinking ship, the honeymoon will be awful. No, ONT is not the titanic, but it’s certainly dragging one heck of an anchor