PRO tip eh!

Hi Mike, do you know what are the fees when going above 4plex?

My answers in blue. QUOTE (ThomasBeyer @ Oct 7 2010, 10:14 PM) How does the property look like ? Nice ? Yes, but not like built in 2010, it is a 1960 renovated building, so it shows really well for its age. How many vacancies ? Unknown, to me it looks almost fully occupied by looking at the...

QUOTE (bizaro86 @ Oct 8 2010, 09:10 AM) Do you expect interest rates to remain at there current levels for the duration of that holding period? I would consider running the numbers with a more conservative interest rate, to ensure that even if rates rise you`ll still be ok. Good thinking, thanks!

Thanks everybody for pitching in your opinions. Based on all your input, I offered $104k, they countered $130k, and gave me a day to answer. I will go again tomorrow to spend a couple of hours in and outside. I am not to sure how much to counter offer, or if I should at all? The history is that...

There is no immediate exit strategy on purpose, maybe I will consider selling by 2030 or later to retire to a warmer place. I just want to hold them long term, pay-off mortgage and keep the cash from rents coming in indefinately. Which only seems achivable at the price point you mentioned of...

QUOTE (ThomasBeyer @ Oct 5 2010, 09:04 PM) They are VERY hard to resell ! needs to be priced 30% below a similar upgraded upstairs unit ! pay maybe 100 times rent tops .. so if it rents for $900 do not pay more than 90,000 ! Bank`s lawyer said they cannot do less than $130k for the small...

QUOTE (bizaro86 @ Oct 5 2010, 04:19 PM) All in all, I`d be extremely unlikely to pay more than 90-100k per door in that area for a 1 bedroom, and only if both the building and the condo corp were in good repair. I definitely wouldn`t buy a unit below grade. Michael Shoot! We are in the slowdown...

QUOTE (DaveRhydderch @ Oct 5 2010, 04:38 PM) However, a great deal would bend that requirement. I am hoping to attract those tenants!

QUOTE (moparcanuck @ Oct 5 2010, 06:34 PM) A lot of it is perception (and perception becomes reality when you`re trying to show the unit to a potential renter). I`ve always refused to live in a below grade unit because any problems seem to hit there first. Water problems? Gravity works and...

QUOTE (bizaro86 @ Oct 5 2010, 04:19 PM) I definitely wouldn`t buy a unit below grade. Coincidentally, two units I am considering are below grade. One with 630sqft faces the lawn/street and the other one with 510sqft to a parking lot both facing south. I have never lived in a below grade unit...

I have seen lately an increasing number of condos on the MLS that are good opportunities to add to my portfolio. But I am trying to set a price range for 1BDRM condos as rental properties in the Calgary inner city area, such as connaught, victoria park, kensington, lower mount royal, etc...

QUOTE (ThomasBeyer @ Mar 26 2010, 08:38 AM) yes .. thus: get a recent (high) appraisal ! I am looking for an appraiser to perform his analisys on my condo where I lived for the past 3 years in Calgary. Now this unit is on the market for rent, any ideas who would be able to perform a high appraisal?

Hey Matt, I see your dilemma because I am on the exact same boat. And 25 years is a lot of time, I will be 60 y/o by then. But there is a way to simulate how you will come out of this one. I have no idea how to paste images or upload files here, but send me a pm and I will send you back a...

I have been traveling most of this 2009 and unfortunately I have not been able to attend any of the monthly meetings. If it was not for the great technology that MYREINSPACE provides to its users, I would totally have missed this amazing presentation from B. Tal. Kudos to the REIN Team for...