All Forum Posts by: Account Closed

@Zayne Ruth

Unless markets within reasonable driving distance (you decide what that is) are absolute garbage I would do the first one near home. The problem with that is that you’ll be spending 100’s of hours analyzing neighbourhoods and streets and property types and building a local team etc then may pick up shop and do deal #2 elsewhere ... meaning you’re doing the same work twice. I guess I’m just more conservative than some folks. I don’t believe in over leveraging, or writing cheque’s for crap I’ve never seen, or jumping on the latest band wagon.

@Kristopher Toribio

Keep in mind I’m in Canada. Once leveraged fully, since I usually do 2-3 year variable rate mortgages with automatically readvancing revolving (heloc) portions I simply renew the mortgage to the full balance. The revolving portion is usually ~.5-.7 % higher rate so it makes sense to convert it to a principle & interest payment as opposed to an interest only.

$12,500 probably includes new boiler, circulating pump, and all zone control

Valves. Likely all new baseboard rads too. That or else they’re allowing lots of man hours for chasing breaks if you’re in a cold climate. Likely the first. There’s always a tag/ sticker on the boiler showing model and serial, snap a pic in the future and you’ll have all the details you need to price one out.

If you leverage it, make sure whatever you buy covers interest AND extra to pay the heloc down in a reasonable timeframe.. and on top of the the new place you buy still needs to cashflow.

@Anil Bajnath

I’d likely go:

Heloc —> find good income property—> leverage heloc for down payment on income property—> convert heloc into P&I mortgage —> repeat.

@Pedro Jean

Ask for verification of the amount she is receiving, sometimes with categories like this people misrepresent the total $ recirved.

@Guy Gimenez

So I believe what you’re saying is if max liability was say $2M then this would be used to cover both parties (owner and “additionally insured” pm) as opposed to just the owner ... meaning the owner could get the shaft if a judgement came for $1.1M against owner and $1.1M against pm. Is this correct?

@Maxine Kunimura

Sounds shady to me. However one thing I didn’t see listed in the original post was.. did your child’s daycare speak to this person? Because they certainly shouldn’t be if they did.

@Charlie Moore

Never ever start the tenancy this way. After a year or two,... I’d likely consider it. But day 1, no way.

Agree w above mentioned about ordering vs in stock. Here in Canada for whatever reason the big box stores get stock from Quebec... I’ve never had an order miss delivery date by less than 14 days. After the third time (2 HD, 1 Lowes) I started buying local where if you see it they have it in stock. If you get to know a long term person at those kind of places you can even call ahead. For dishwashers I have standardized so I give them a call and ask for the usual when I’m putting an offer in and they’ll set it aside for a couple weeks with the understanding that they’ll have no trouble putting it back on the floor and selling it for some reason I don’t need it. Even if it was $30 more... I’ll pay $30 to avoid the endless “press this for that” menu that nobody answers anyway at the big stores!