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  1. Dan Golby

    Renovation cost vs increased rent

    It is definitely a long-term plan LOL Sent from my iPhone using myREINspace
  2. Dan Golby

    Renovation cost vs increased rent

    Maybe I am getting carried away, I was planning to do a lot of things that can likely be deferred. Things like all new furnaces which would add $10000. Hot water tanks, mostly because I want to move them all closer to the furnace anyway and frame out the basement adds another $5000. I haven't...
  3. Dan Golby

    Renovation cost vs increased rent

    I appreciate that offer. I will text you to set up a time to talk. Sent from my iPhone using myREINspace
  4. Dan Golby

    Renovation cost vs increased rent

    I'm in the process of buying a 4-plex. I take possession on the 30th. It is a 1978 build and could use a substantial amount of work. Windows are horrible, 2X4 build so needs a wrap, aside from fresh coats of white paint there has been little to no upgrades and the ones that were done scream...
  5. Dan Golby

    4 plex investment

    And financing is secured! Thanks to the bank of my rich aunt [emoji12]
  6. Dan Golby

    4 plex investment

    My quick answer is, my investment is much different than yours! There is no doubt this is a low end rental and I will have to learn the landlord tenant act better than ever and manage it impeccably! However all my friends that have rentals are able to find tenants, and simple stuff like new car...
  7. Dan Golby

    4 plex investment

    Thanks!! I think I have a plan that should work
  8. Dan Golby

    4 plex investment

    Got the deal!!! $90k below list price. 24 hours later they want to back out due to the fact that they have someone who wants to view it.....not make an offer, just view it......so now I have to make sure and get financing on time!
  9. Dan Golby

    4 plex investment

    Well I should find out today what the owners decision is. I've teamed up with a local builder and we agree that the place does need a TON of money spent on renovations if it will compete with the newer properties in town......but I still have the option to keep it cheap and old and be a slumlord...
  10. Dan Golby

    Dating in 2017

    Ok so this might get flagged by admin and that's ok but I've had some beer and I think it is time to spice up the general discussion forum! I've been separated 9 months, my wife refused to attend a REIN event, she was too busy throwing magic energy balls and becoming a psychic. We grew apart, it...
  11. Dan Golby

    Affordable Insurance for 4 plexes

    Awesome glad to hear! I was an online member when I had 3 properties and I found the insurance savings paid my membership dues easily.....so that made joining REIN a no brainer if it wasn't already.
  12. Dan Golby

    Affordable Insurance for 4 plexes

    How did you make out with the quote? Cheaper or more expensive? Better coverage? Thanks in advance
  13. Dan Golby

    Looking to invest

    Invest in my business. Seeking $80k investment with some possibilities of a return
  14. Dan Golby

    4 plex investment

    Lol it is a meth house and nobody pays the rent!!! Deleting this thread now [emoji12][emoji106][emoji41]
  15. Dan Golby

    4 plex investment

    Thanks Courtney! I got a little excited and posted a bit early. Obviously there is a lot of due diligence that needs to happen before I pull the trigger, but so far I like what I see. Can't wait to view it.
  16. Dan Golby

    4 plex investment

    The last number I heard for vacancy was 24%, highest in the province, however since then it has turned around and of the landlords I know, nobody has a vacancy. The number of for rent ads is less than half of what it was a year ago, and I truly believe that pro-active landlords with great...
  17. Dan Golby

    4 plex investment

    Wow, thanks for the detailed reply. I should clarify a bit and say I was trying to compare this investment to something in Edmonton or other areas. My gut says it is a pretty damn good investment and I can't keep a thought in my head I'm so excited about it [emoji4] I am a tradesman so I will do...
  18. Dan Golby

    4 plex investment

    I work for Cenovus so I really need this rental property to work well for when the company goes bankrupt (kidding!) I believe that Cold Lake likely won't see another crazy boom for several years but I also think the worst has past. People up here are starting to get some confidence and although...
  19. Dan Golby

    4 plex investment

    So do you think it is a good investment or not? Not sure I follow you completely, dumb it down please
  20. Dan Golby

    4 plex investment

    Thanks for the feedback. This is in Cold Lake Alberta. I agree about doing quality renovations, I'm an electrician so the lights and outlets would be the first things that get done. The utilities are paid by the tenant so it sounds like it isn't that bad of a deal. I will have to see it in...
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