All Forum Posts by: Alex Burrows

Thank you everyone for the quick responses. 

Hey everyone, I just purchased a triplex in Toronto.  Two of the units are tenanted and I am going to live in the other.  Its a detached home with a detached garage in the rear with a descent sized backyard.  Im a brand new investor and do not have any experience with being a landlord.  I am taking possession of the property this coming up Thursday.  

When I met my tenants last week, one of them asked if they could bring their dog from Ottawa to Toronto and keep it at the home.  Their current lease states "No Pets" however their lease ends in September.  She had asked me if she could bring her dog in September and I told her that I would get back to her with an answer once I am living there next week.  I am not 100% sure how I feel about it.  I think the only hesitation is that I don't want the dog to be noisy, wreck anything or have dog poop all over my lawn.  The tenant said that the dog is well trained, 4 year old mixed lab and doesn't bark.  What should I do?  I was thinking of implementing a $25 monthly pet fee and/ or a security deposit?  Is there any terms I can put in the new lease incase the dog is a big problem? i.e. -Noisy, loads of poop, etc.

Thanks for your advice in advanced. 

Alex 

Hey BP users, especially those from Hog Town - Toronto! 

I am currently in the market for a property.  I have looked at several different options.  I've looked at duplex's across the GTA but also single family dwellings with an "in-law-suite" or separate entrance for the basement apartment.  (1 or 2 bedroom basement apt).  I've focused my search to parts of Etobicoke, Scarborough, East York/ Leslieville and Danforth area.  I would prefer detached as opposed to semi.  Are these good area to look in if my price point is 500-600 k?  My plan is to get out of my condo downtown, buy one of these 2 or 3 unit properties and live in the basement, renting the upstairs out.  In a few years, move out and throw a tenant downstairs, etc.  I would love to hear what some seasoned investors have to say about this scenario. 

Cheers, 

Alex 

Thanks everyone for the welcome!

Thanks @Gary McGowan sounds very cool. I won't be able to make it out this week as Thursaday is already booked up for me. I would love to come out next time!

Hey everyone!

I have stumbled across Bigger Pockets many times while researching various real estate topics over the last few months. I happen to stay on the site the last time and decided to create an account as there is lots of valuable information. Especially for a new real estate investor such as myself. I look forward to learning from other investors here on BP, including those living in the GTA.

I have been working as a private investigator for about 5 years. Over the last year and a half I have been running my own business on the side, which has sparked my interest in entrepreneurialism - especially real estate investing. After reading Rich Dad, Poor Dad, other books from Robert Kiyosaki as well as several other real estate investing books, I feel I am ready to take the next step.

I currently own a condo in downtown Toronto which I had purchased 3 years ago. I am in the process of putting the condo on the market. My plan is to buy a property in the GTA to live in but also rent part of it out. Either a multi-plex or a detached with an in-law suite/ finished basement apartment. My goal is to buy another property a year after the initial property purchase - another multi family, preferably a duplex.

Thanks BP for the great resources! Looking forward to learning and networking.

Cheers.

Alex