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  1. NorthernAlex

    How do realtors get their property information?

    Must be a member of OREA to receive this info, AFAIK, member means Realtor and/or Going-to-be Realtor. Try to find a good realtor. When I am interested in a property I email mine the MLS No or the address (if not listed) and he will give me all old and current infos out of the system (owner...
  2. NorthernAlex

    Ontario 2010 Rent Increase is 2.1%

    Hi all. While browsing a bit in the internet I accidentally stopped at http://www.ltb.gov.on.ca/en/Key_Information/274235.html, which shows the Onario Rent Increase for 2010. It will be 2.1%. FYI!
  3. NorthernAlex

    Yes I am still around and I still have a lot of opinions

    Yes, I really like to read your posts, too! Good to see you around. Which literature would you recommend to start working with supportive puts and calls? So far I just buy a stock ...... and wait and hope!
  4. NorthernAlex

    Income/Rent Ratio

    100% ACK, Neil, if you can get rent directly from Service Canda. I am referring to a 21 year old, who will move to my town to start a new job. I am just thinking that she is getting desperate (very hard to find an apartment at all right now, students are invading the city...) and willing...
  5. NorthernAlex

    Cashflow is Possible!

    It comes down how the $50k will be spend. 15k per door is quite something if you spend it wisely. Anandam: Like Greg mentioned: Getting the low rent tenant is quite an issue and could cost you really money, so from this you should try to buy it vacant. Think of using these 50k for separate...
  6. NorthernAlex

    Cashflow is Possible!

    I would consider it and run detailed numbers. Would the value of the house increase after the upgrade to have a potential higher sell price later on? Download the 30 day trial version of REMA and you can use the Property Analyzer, which is a great tool. Increasing rent with existing tenants...
  7. NorthernAlex

    Cashflow is Possible!

    QUOTE (anandam @ Jul 16 2009, 04:37 PM) Enlightening. Thank you for the discourse! A small case ... If you`d paid, say 400K to purchase a property that was bringing a rent of 3K per month; and (other things remaining constant) lets say that and by spending another 50K, you could get the rent to...
  8. NorthernAlex

    Income/Rent Ratio

    Thank you all. I will let her know that I picked someone else (and I did). BTW: Greg, what happened you your scary clown avatar?
  9. NorthernAlex

    new to investing

    Buy the book of Don Campbell and read here in the forum for the fundamentals. Go to open houses where you want to invest, do research as mentioned in the book. Gather a network (Realtor, lawyer, appraiser, General Contractor aso) and wait for a good catch. Meanwhile attract money (own and...
  10. NorthernAlex

    Any contact to assist in converting a 5 plex to condo units ?

    Thomas mentioned once to me that you can roughly calculate 30k per door for expenses. That might give you a ball park. Surveys, Security deposit, new roof, individual mortgage aso.
  11. NorthernAlex

    Income/Rent Ratio

    Hello world. I just received a Rental Application for an August vacancy and was thinking that she is earning not enough to pay rent AND to live. She says that she makes 22.000/annually and the rent would be 750$. So, even if this the annual income AFTER tax (which I doubt), the monthly payment...
  12. NorthernAlex

    First JV Purchase - 4-plex or 8-plex?

    Since being in Northern Ontario I haven`t seen a 12+ plex in my area listed in ICX. Are these bigger units sold differently or just not available?
  13. NorthernAlex

    Rate my deal!

    Nice buy and hold- property! If you see a mid term growth thru local Ripple effect or rising curb appeal- go for it! I would take it. Numbers seem to be right and good. The 292$/month ... and if you can add the 10% management thru self management, great! Make sure that it really is a legal...
  14. NorthernAlex

    First JV Purchase - 4-plex or 8-plex?

    As I learned here (and experienced by myself) will a bank rate a real estate deal with 5+ units as a commercial deal. They will focus more on the deal and not at the buyer/lender like they do with residential. My first property I bought was a commercial deal (5plex)- it was easier for me as a...
  15. NorthernAlex

    First JV Purchase - 4-plex or 8-plex?

    Hey Neil. IF your Money partner is willing to JV in a 8plex or 4plex with you.... and the numbers are making sense in both: Why not going for the 8plex. I also think that financing might be easier (commercial, because bigger than 6 units). "knock knock!" "Whos there?" "Opportunity." I would...
  16. NorthernAlex

    Accredited Investors as JV Partners

    I am curious: Why does someone need to be "an accredited investor"? Which benefit does he have expect that we know that he has min. $200k/annually or 1Mil$ in liquid assets and which benefit does the JV partner have?
  17. NorthernAlex

    Interest on late rent payment

    Charge late payment fee, not interest. Tenant called me on the 28th and said that his Boss (he is a painter) had a stroke and his girl friend won`t be paid until the 5th. I issued the N4 and will charge 25$ for late payment. I also added this in my rental agreement, that I will charge on late...
  18. NorthernAlex

    Tenant screening tips (?)

    QUOTE (kreezo @ May 1 2009, 09:55 AM) I was just wondering how would you drop by their place to drop off something or inspect the astray of their car without coming off as being too invasive of personal space? Or if they give you any excuse for that you just reject their application? Kreezo...
  19. NorthernAlex

    Tenant screening tips (?)

    Great idea with the autoresponder! I will do that too. Thanks CLW!
  20. NorthernAlex

    Tenant screening tips (?)

    I set up appointments always if I have min. 2-3 interesting parties. I always ask when they want to see it. If they say 2 p.m. or 10 a.m., I always ask if they are off today and what they do, but set the time always at 5 p.m. ... 2nd party at 5.10 p.m.... 2rd party at 5.20 p.m. During their...
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