All Forum Posts by: Roy N.

@Steve Babiak

All those Income Property episodes are made special for export to the US market and are part of a larger, elaborate HGTV plot to convince US citizens they should all be living underground. There is no sinister motive here, we're not planning to invade again, we just thought it would be funny. :-P

Salut @Gabriel Caron ,

Bienvenue chez BP!

In which part of MTL are you? Many years ago I lived on Saint-Denis (pas loin de station mont-royal) and, before that, south in St-Jean-sur-Richelieu.

As you have already found, there is lots of useful information here on BP. There are also a few other Canadians and Quebecois here who you can call upon for any questions specific to financing, taxes, regulations.

@Rob K.

There was a story in the paper here a year or so ago about a gentleman who had been renting the same apartment for just shy of 35 years at the time of his passing - the building had been through three different owners during his stay.

I'm looking at a building now where one tenant has been there for 22-years (and two owners), but the current owner has asked her to leave - tentatively because she wants to freshen the unit before the sale. I expressed that I thought it short sighted to ask her to leave as the on-bedroom apartment is small with an exceptionally small bedroom and will be difficult to rent.

@Prakash Amarasooriya

Welcome to BP. You will find ample information, advice, wisdom, and, perhaps, the odd opinion, on real estate investing.

Most of what you find here will be universally applicable, but when it comes to certain areas such as financing, taxes, and regulation, there are differences between the U.S.A and Canadian markets.

Where are you planning to invest? TO is one of the most {over}heated markets on the continent at the moment and finding an affordable rental unit that is not in the wrong part of Jane & Finch will be a true challenge.

@Matt McDougall

A hardy welcome from the East Coast. You will find a cornucopia of invaluable information and wisdom here on BP. Much of it is universally applicable, however there are a few areas, primarily financing, taxes, and regulation, where things differ between Canada and the US.

If you find yourself with Canada specific questions, there are a few other Canucks wandering these halls who would be happy to help where they can.

@Jeanette J.

We have two rental properties with basement 'spaces': One an SFH (student rental) with bedrooms in the basement; the other a SFH with an 4-bedroom main floor and 2-bedroom basement apartment (another student home).

The student house works as the kitchen is on the main floor and the basement has bedrooms and a second bath. The one with a separate basement unit came to us in that configuration and I am contemplating "undoing it".

Since those acquisitions, we have made a point to avoid basement apartments.

In your situation, I would side with your husband and look for a duplex, triplex or quad on which to deposit your 50K.

Down the road, if you look to move out of our house ... sell it ... or, if you are inclined to keep it, rent the entire house (w/ basement laundry & storage) for 1600 - 1800/mth.

What peak? Things are still inching up here - still going in leaps and bounds (or at least large strides) in places like TO, Vancouver, Calgary & Edmonton.

Many markets are long overdue for a good Canadian winter ;)

@Taylor Green

Our experience has been that it really depends on the location and the clientele.

In the business district (downtown), we find our clientele to be young professionals and studio, 1 & 2 bedroom units all rent equally well, but larger (3-bedroom) can be slow to rent.

Around the universities, cost/room is the main driving factor for students, so 3 & 4 bedroom units always rent early and 1-bedroom units seem to rent last.

@Gulfield Jones

Well done! New appliances and no cash out-of-pocket. ... someone call @Ben Leybovich and @Brandon Turner

@Ned Carey

It is situations like this which lead me to seriously doubt whether we humans do have the "biggest brain" on the planet.