All Forum Posts by: Roy Cleeves

 @sean 

@Sean Ross is correct.  You can get tenant acknowledgement form which confirms what the current rents are as understood and agreed by the tenants since the tenants fill out the form. 

Good luck with the purchase. 

You would be taking a risk if you went to the other unit since the rule of staying there for one year is unit specific. 

Good luck

Yes, it will add value.  Homes with more bedrooms sell for more than homes with offices and fewer bedrooms.  Best to confirm this with your preferred Realtor for your area.

I know it would for my area.

Cheers!

Thanks for sharing and being a Realtor, I agree, sometimes don't tell your Realtor everything of your plans as they might not be able to bluff the seller as good as you can if they know that you might offer again.  So great plan and well done!  Cheers!

Sure - just email me and I will share it

I have found that it all depends upon what rate you are getting for financing and what the other expenses are for the property. 

It can cash flow even as low as half a percent of the purchase price.  One percent would be much better. 

Best wishes with the numbers. 

You could always do a GREPA if you want to have it just in one person's name.  Grepa stand for General Real Estate Partnership Agreement.  It sets out in writing the ownership and plans.

I have a copy if you want however, know that I am not a lawyer and provide is just for use at your own risk.

Hello Hayden:  The minimum first time home buyer down payment for a home that you will live in as a single family home is 5% of the purchase price.

You can also try to find a lender that would do a cashback mortgage that may cover most of that 5%.  Best to connect with Mortgage Brokers to get all of the options.

Best Wishes.