First off the previous posters are correct. Is this a legal Duplex now? Could you turn it into a legal triplex? If you can the advantages would out weigh the disadvantages in my mind. I know you are looking at your positive cash flow on the property but you are missing out on 2 other...

My Favorite app is the mortgage calculator. I use it all the time to analyze properties on the fly.

I am looking for a realtor in the Moncton area. It would be helpful if they had investing experience but it is not required. Thanks

This all depends on your agreements and how you set expectations before the rental term. All of our tenants are responsible for all maintenance. So the roof or furnace or other big ticket item they are responsible. We try to make sure there are no major repairs during the rental term if...

Hi Chris, I can help your friends find a rental or buy. Let me know. Regards,

Howard, Drop me an email we have bought some cash flowing smaller properties lately and we can certainly have a chat to see if there is something we can do together. [email protected] Regards,

Hi Hanna, Typically it would be your tenant. If there are major deficiencies you should have the seller rectify them or have it reflected in your purchase price. I would still obtain an inspection on the property to help disclose any possible headaches. You would be responsible for...

Brett the key is to ensure your tenant qualifies for the future price. We use a 6% interest rate with a 25 year amm to qualify them at the higher price. If the question is if the appraisal does not come in typically we hold a small 2nd mortgage. Regards,

Hi Andy, What type of return are you looking for? Are you using a tenant first model or a property first where you are upgrading the property before the tenant buyers come in? Price appreciation is hit and miss and a lot of people have their opinions on it. We are using 5 - 6% per year...

Could you send it to me in an email as well? mark at theversatileinvestor dot com

Ahh lawyers Have you spoken to your lawyer and shown them the paperwork? I will dig up a name of a person I have in Barrie for you as well. Regards,

Carrie, I have emailed you forms that you can use as a template. Congrats on the sandwich lease option let me know if you need anything other than the forms. Regards,

I know a number of REIN members are using John Poletes. John Poletes Direct: 416-482-1902 ext. 221 Email: [email protected]

Brent, Take it easy on the poor toner salesmen. Once upon a time I was in the consumable business. Regards,

Hi Tristan, Give Phil Jarvie a call he works with a lot of REIN members and if not the REIN program I am sure he can still offer you good service for your insurance Direct Line: 905-582-7086 email: [email protected] Regards,

Who is your tenant profile? Are they looking to have that back yard space? Have you looked at other single family home rentals in the area what do they offer? Can you get your price without it? I know people who happily live with out a back yard for the convenience of being in the right...

I turned RE investing into my full time job.

Lenders typically look for 2 years in the same field before looking at contract work. Your mortgage broker should be able to direct you through the best options in this scenario. Regards,

Hi Alan, We have done some of these in the past. The one thing I would caution is the buyer should qualify for the full amount and any cash derived from the rental unit is a bonus. This income cannot be used to qualify unless the property is legal. What if they have a vacancy or a bad tenant...

I guess it all depends on your goals and what you want the property to do for you. But when I look at this scenario I look opportunity cost. You have a $120k making you not much money a month after expenses. You are probably putting time and effort in on the property by managing it yourself...