Recent content by Alvaro Sanchez

  1. Alvaro Sanchez

    Buying home with illegal suite and live in the basement

    Buy purpose built properties.
  2. Alvaro Sanchez

    Court ruling requires sold Toronto home prices to be made public!

    You must realize that the system has been setup up to maximize profits (for agents, brokers, mls, etc - Not consumers -) and have worked that way for many years. This is no secret to anyone and whoever says the opposite is living on la-la land. This is very similar to the banking / mutual fund...
  3. Alvaro Sanchez

    Joint Venture vs Finders Fee and PM

    If you been doing it for 10 years, why do you need others?, do you want to expand your PM business or own more property?
  4. Alvaro Sanchez

    Rent increase

    What's the difference in rent a month? 100,200,500?
  5. Alvaro Sanchez

    Reserve Fund for Condo

    Budget for it as there will be a special assessment to catch up with lack of reserves.
  6. Alvaro Sanchez

    Basement suite in Ottawa

    You would probably get a better quality tenants on a 2BR vs 3BR (for basement setup). Also note that if unit does not have a separate meters for utilities a 3BR unit will cost more. The more people in the unit translates more cost to maintain and increase wear and tear (Noise, parking, etc) with...
  7. Alvaro Sanchez

    young beginner real estate investor looking for advise

    Good for you, I wish I had the resources that you have now back when I was your age. Keep following your gut but make sure to find a mentor (no need to be a paid mentor, find a win-win arrangement). For a rookie your Rule 1 - ONLY listen to people who are doing it or have done it. In real state...
  8. Alvaro Sanchez

    Townhome rentals allowed

    I assume that town-home is in a condominium structure and yes, rules can change. It would depend of how friendly the board members of the corp is which rentals. Best to attend all meetings (and vote), become a member or not to buy at all.
  9. Alvaro Sanchez

    Using my RRSPs for Real Estate Investment

    As far as I am aware, you can only lend it (arms-length) on 1st/2nd positions or become your own bank on your principal residence with the added conditions for a mortgage (such CMHC insured).
  10. Alvaro Sanchez

    Tenant won't move out by end of April as agreed.

    In the future, get it in writing instead of texts. Some people will be more prone to act when a document is signed and prefer to do it in person. If any of them hesitate on signing (giving you excuses) then you know where you stand. I would have one agreement as everyone will be responsible for...
  11. Alvaro Sanchez

    "I Want To Buy Your House" Letter

    I must disagree with your comments... Beside walking the neighborhood and calling (not looking at signs) you should also send letters (several people have contact me based on my letters - not intermediately but they do call - old folks and SPECIALLY for multifamily properties, I will write...
  12. Alvaro Sanchez

    "I Want To Buy Your House" Letter

    Stress out that you are looking to buy and not an agent trying to list their property.
  13. Alvaro Sanchez

    Suggested strategies to access the equity in my commercial building

    If building supports, get a 2nd from private investor.
  14. Alvaro Sanchez

    Tenant leaving the property messy and leaving most of the contents behind

    Budget cleaning for turn-overs. As others suggested, invoice them.
  15. Alvaro Sanchez

    Tenants might be smoking pot in suite -- what can you do?

    Just send a written notice/email indicating that as per lease, the unit is non-smoking. If this continue, you will take proper steps to correct the situation and pass cost to tenant in case smoke damaged to the unit.