All Forum Posts by: Account Closed

I thoroughly enjoy this thread.

I’ll add something slightly contrary but keep in mind I’m not a technician who does this daily, I’ve replaced drain pumps on washing machines as well as dishwashers multiple times in less than an hour. Easy stuff, lots of YouTube vids probably for your exact model. If you’re into that sort of thing, it’s a doable repair.

@Christopher Orr

I like this idea. Probably can’t apply it for my target market but I like your thinking. I’m guessing you’ve thought of this but,... could likely do a year lease with a tenant and then if they are great offer to sign a 2-3yr renewal and throw in the fridge for free?

@Bryan S.

I’m aware of when it was banned. Also aware of when it stopped being used (north of 49th). Have gone through that 3 day training for my day job a total of... 3 times now. Pre 1990, get it tested. It’s worth the $400.

@John Morgan

Asbestos testing is quick. Anything before 1990 could have it. Drywall, texture, siding, pipe insulation, 9x9” tiles (these almost always have asbestos) all could have it, and that’s not even an exhaustive list! I cringe every time i see social media personalities “renovating” their 1945 houses with just a dust mask (or not even that) when you know they didn’t get a test done on that plaster or ceiling texture etc.

I usually approach asbestos as this: what’s it gonna cost for remediation (including replacing with non asbestos), deduct that from value of the house (I estimate remediation costs 20% higher than any quote) and that’s the offer... in your case, unless your inheriting a ton of problems (expenses) I’d say the deduction is more than paid for. And as above, where I’m at with local laws I would leave it, asbestos has excellent thermal retention qualities. If it ain’t airborne it’s actually a pretty useful product.

@Mark Neudorf

Market conditions right now for multi’s in sask are ... interesting. Lots of folks pricing completely average or below buildings at the top of market even though they’re having trouble getting good financing at renewal. Just don’t buy someone else’s problems.

Not sure how it works down south there but here I have them all sign off on a form that allows me to report to credit bureau. I explain to all the young folk how getting a new cell phone works, how they do a soft hit on their credit to check for open collections and payment habits... and how the $1300 iPhone 37xL or whatever we’re currently at will need to be paid out in cash and not financed over 2 years by the phone company if I end up reporting multiple late payments or and granted a collection order against them. I also explain to them that I won’t even send a collection company after them, I’ll just RE-register the order every 5 years at expiry and one day they’ll find me asking to pay.. and how I am the only one who can remove that collection order ...

all this happens before lease signing as prevention.

Probably said already but,... for students, always get a parent co-signer. Always. Get it listed and start trying to mitigate losses while walking the tightrope of Ned Flanders to Tony Soprano to get as much of the deserved payment as you can. Don’t ever mention “lawyer” and once they do you’re basically force to be Tony, not Ned. I’ve never had one person who mentioned “my lawyer” ever follow through, but I’m also not in USA where it seems absolutely everything is grounds for a lawsuit. Never will understand that. Bottom line, mitigate losses and collect what you can without spending an unwarranted timeframe doing it.

And yes, I do buy /hold. Essentially a modified brrr using heloc as DP.

@Hai Loc

Saskatoon: stay away from pleasant hill, Mayfair, meadow green and several others near there. In addition most property types in Stonebridge won’t appreciate terribly well the next 5-7 years.

Edmonton: QMP is junk, along with about 20 more areas, probably 40+ that are good. At ~1.4M ppn fir the greater area you’re asking a large Q!