What part of the country is the property located ? Do you have other rentals or is this your first? What are your goals? How many bed rooms per unit? Have you compared rents? I personally don't like single family homes. The more units under one roof the more money generated. You need to get...

Ah to be 27 again ...... any way, Congratulations on your first purchase. As a contractor & on my 2cd marriage listen to the info being provided. Please don't you or your girl friend take offense to the info. Your partners, talk openly about your goals & the what if's. Have a lawyer set up an...

Thanks for the info Jim! I ordered the book.Look forward to the read. Doug

I've enjoyed reading these posts so far. Just out of curiosity , Jim or anyone else, have you sold any of your US properties? If so, what have you encountered good or bad that may be of help or interest to the rest of us ? Thanks! Doug

Great storey! I've always believed it's the journey not the destination. Glad to see that you treat yourself & family. Makes the journey that much more fun! Cheers! Doug

Way to go Nick! Enjoy the journey. Time to celebrate. Doug

In addition to the great suggestions already given , let me add my 2 cents. Talk to mortgage brokers & lawyers who can direct you to those needing to un load their homes.( Mortgage arears, divorce, mould, etc. ) If you wait till their listed with the real estate your paying more for the...

If this is going to be an easy flip, why hasn't the present owner done it? The problem is in the tenant. Purchase the place free of the tenant. Clean, paint & stage for maximum return. Just my 2 cents. Doug

That's funny !! :>) Doug

Check to see if all the proper permits were pulled. Plumbing,electrical,etc. The fire/building dept should also have inspection reports. Sometimes they may even have photo's of the damage. You may have to have the owner request the photo's from the Insurance Co or the restoration contractor. Doug

Having some experience in flipping the odd home, a word of caution. Don't be fooled by the American house flipping shows. I have found that I need to purchase at 40-50 cents on the dollar or it's just not worth it considering ALL costs. Buy & hold is the way to long term wealth. Flip the odd...

As others have responded tenants pay own utilities. As I own a grounds maintenance company I include grass & snow as part of their lease. I have found having my guys on site they are my eyes & ears , property always looks nice, at least on the outside & I've attracted an older stable clientele ...

Thomas has given you the best advise & I cannot add anything except to say don't give up! Talk with a good mortgage broker. A deal can always be put together. You have to decide if the terms/rate make sense to you. Best of luck! Doug

Convert to gas or close it up. I agree with previous comments with respects Insurance. Tenants & wood burning just don't mix. I 'm in Ontario so I don't know if these prices will help you. The steel chimey liner was about $1,000.00 plus the insert $3,000. Insert prices will vary according to...

Cut your losses & send him packing. Not worth the agravation. Unless you want to be a nice guy & give him a free place to live for the next 2 months & consider that your good will gesture to start the New Year.What ever decision you make you'll have to live with it with out complaining. Doug

If your handy, you might try buying a fixer upper & flipping it . Do this a couple of times (or more) to generate some capitial to get your real estate investing off the ground. Doug

I had some cabinets refaced approx. $75.00 per door. Painting & new hardware is less expensive. Doug

Your hallway & stairs will recieve the highest concentration of traffic. If you need to change the carpet in this area use something durable. I wouldn't change the bedroom carpets unless they are really bad/wore/stained. If you have to change them I'd use something inexpensive. Sometimes a good...

Who is incurring the NSF charge the PM or the Owner? Doug

Site is looking real nice. Keep up the good work! Doug