All Forum Posts by: Roy Cleeves

As long as the numbers work then it would be a great use of your equity.

And the best way to take it out would be another numbers review. If you do LOC then you only pay back interest and may have a lower monthly payment for this to create more cashflow from the student housing investment. These are always variable interest rate.

If you do a mortgage, then you could do a fixed interest rate for a set term of say 3 or 5 years so that you always know what your payment with be and this would also pay down some of the principal at the same time.

So work the numbers and Good Luck!

I believe there are only fees if you join a home inspection organization. 

@Itay Heled

I recommend you consider hiring Ian Hocking - a Realtor - in Barrie.  Look up Hocking Homes.  He is a long-time Property Manager that can help increase the odds of getting an excellent tenant.  The one-month fee plus HST that you will pay will be well worth it.

I have found that international students seem to be a better risk over all as well.  Sometimes they will pay months in advance rather than a guarantor since their guarantor is usually their parents in another country.

I hope this is helpful.  Best Wishes.

Hello Pallavi

I had a similar situation where I was the listing agent and I put the wrong square footage on the house.  

The buyers brought it to my attention with the same feelings that you had.  They were first-time buyers and relied upon the listing to justify the price that they paid.

I remeasured the house and found that I was incorrect.  I met with the buyers directly and offered to pay them thousands since my info was wrong.  They agreed and we all signed a release and I paid them by cheque.

So I recommend that you call the listing agent for the property and point out the error and ask them for some compensation.

Best Wishes

 Hi Gregory - I don't get up there a lot yet when I am there next I will see about connecting with you.  cheers

Hi Jake 

I have both STR and LTR as well in Kitchener and Barrie and in Halifax.

I am happy to connect up with you and chat about strategies.

Cheers,

Roy

 I am happy to chat anytime 

I would not tell of the difference in what you pay.

And find a nice sublease template to use.

Good luck

If you have done a home inspection and it shows that everything is to code and that there’s no issues with electrical or plumbing then I would go ahead and buy the property