I like the way you think :) I assume we're all here to buy cash flow positive properties with (hopefully) LONG TERM capital appreciation potential. This task has been nearly impossible in the GTA + surrounding area for a while now (assuming 20% down & a reasonable mortgage rate). I heard a stat...

etransfer! I love having all that cash deposited on the first of the month! I automatically have it transfer to my savings account to start saving for the next property (my goal is to cover utilities, taxes, maintenance, etc., from my day job).

Congrats!

I have been looking at this area so will be following this thread. I have a friend who purchased a few student-focused properties about ten years ago. He told me that the city opened the floodgates for new apartment construction and now there is an over supply situation. He doesn't have any...

I have not found this to be the case. I have had 3 appraisals done in the last few months. Even in the rapidly changing Durham region here in Ontario the appraisals have kept up with market values. After all, the appraisers use recent transactions of similar properties to come up with their...

I'm very new to this (only purchased one property so far) but so far organizational skills have been the most important. Real estate binder and ways to systematize stuff are essential. It's amazing how disorganized most people are! Most of the nuts and bolts of real estate are fairly easy to...

Thank you again!

Thank you Thomas! Yes, have several on the go that I intend to close on. Unfortunate to have to spend money to learn things the agent didn't disclose but that's the cost of doing business I guess.

Hi everyone! I'm potentially facing a situation where I'm not closing due to status certificate issues & home inspection red flags. I paid about $300 for the home inspection and $100 for the status certificate. Can this be claimed come tax time? Thanks!

Yeah, that's the key takeaway here, and such a valuable lesson for me. From now on I will do my best to speak with current tenants. :D

Hi everyone, I took your advice and spoke the tenant. Before I proceed let me tell you what I'm about to say is embarrassing and 100% hilarious. It's not pot. It's a gecko aquarium with fake and real plants. Thankfully I played it cool. I said, "so what's the story with the aquarium in the...

Ok, thanks. I'm going to circle back with the agent.

Thanks for your input. Thomas, I'll stick to the odd beer ;) I am not occupying so asking for vacant possession won't fly. The current owner, who's a developer, will be very reluctant to force the tenant out. This is nothing but a small nuisance for them so the last thing they want to do is...

Hello, After evaluating probably over 100 properties in the Durham region I was excited to go visit the first property that really met all the key metrics (first and foremost being cash flow positive). I arrive at the property and greet the agent. The agent was told the tenant would not be...

Thank you, I'll take a look at these. Well I am a beginner since I haven't even bought my first property yet! The leverage and systematization is what attracts me to real estate. You're 100% right that real estate gives you an unrivaled bang for your buck. A 5% increase on a $200,000 property...

Hi Matt, You can see my post was dated May 18th so I'm not even a month into learning about real estate. I'm certainly not an expert, but I find that many of the people I speak to about real estate have no clue about what you're talking about! One of the criticisms I have about Don's book Real...

Well, I have good news and bad news. I found a property that fit all the criteria of the ACRE system. Bad news: it sold last night. Gives me hope that there are properties out there!

Thanks, I will be reaching out!

Hi everyone, Thanks for all your responses--and apologies for the delayed response! Other markets may present opportunities but I'd be uncomfortable purchasing something I can't see, especially for my first rental property. Later down the road I'd definitely be open to something in another...

Hello! First post! On the weekend I purchased Don's book and I just finished it. After reading the book I was very excited to commence a solid, long-term real estate investment plan! My area of focus is condos in the Pickering-Oshawa corridor in Ontario (as this meshes with my own lifestyle...