All Forum Posts by: Louie E.

Good day.  When does it make sense to make tenants pay utilities.  I have this 4-plex on contract and the current tenants have the utilities included in their monthly rent.  2 are paying 650 and the other 2 paying 550.  Which in this case is not cashflow positive.  The quickest way is to increase rent by $50 on the new lease or the tenants pay utilities, divided equally of the 4 of them.  Only 1 tenant live in each unit.

Thank you.

Hello.  I am inheriting a couple of tenants on welfare in this 4-plex I have under contract.  Any advice on how to deal with them.  I suppose if they have been paying rent to the previous owner then they should be ok.  Don’t you think so?  Thanks!

Good day.  
Needing some advice in calculating the viability of building a mini storage facility on a commercial vacant land.  Much appreciated.

Louie

Finally put my first property under contract!  Yay!  Financing should be good by next week.  Fingers crossed.

It is a 4-plex and I will be inheriting the tenants already in all units.  

An issue is that one tenant smokes in the unit that he is in.  What would be the best way to handle this if I do not want him to smoke in the unit?  I will have to stipulate this in the new lease contract.  But there would be no guarantee that he would abide.

Thanks

Hello.  I’ve always been discouraged by real estate agents in considering mobile homes for the reason that financing would not normally be available.  Is that really the case? Where does one normally go to get financing to buy mobile homes if ever?

Thank you!

Is it good to invest in a market driven by the agriculture/farming industry?

What is the best equivalent of Furnished Finder in Canada?

2 hrs SE.  Bassano.  I could but I work up north at the moment and not at home all the time.  Do you know anyone?

I have a good prospect for my first real estate investment.  It is 2 hours away from my primary residence. The agent says I will not have any issue with getting a tenant in that town.  It has some room for increasing its value and financing is all set up and pre approved. The only thing that is preventing me from buying is that there are NO PMs on-site nor others around willing to look after it.  I’ve asked the agent and professional companies found on-line in the nearest city.  Are there other options I could pursue alternatively?

Thanks for the input.

Louie

Hello.  Just wondering if for properties that are in livable condition and just need TLC and updating/modernizing, that the rehab work could be done later?  Like if I start to rent it out and rehab only when I see interest rates start to go down to ensure a better rate at refinance.  Would that be a viable strategy?

Note: my apologies as I am not able to change the title of this post any longer relevant to the content.