Junking the fence and looking at my first rental property

[Kevin Potvin]

It’s up here in Canada in a small town, steady but slow growth. Buy and hold. Trying to think of everything  before I make the leap into purchasing my first rental property. Excuse my “terms” as I’m a newbie to this and always searching for info. I’ve followed Bigger Pockets for a few months now, absorbing as much as I can. The unit is on the second floor of a 12 unit complex which has 4 buildings for a total of 44 units.

According to the numbers, (4 square method) its a $40/month for Cash flow, However, the cash on cash return is .019 % not high at all. I’m learning and figured this may be a good place to start as it’s $125,000 purchase price (maybe $120,000). Small enough to learn.


Any comments or thoughts/advice what to remember or really look at when taking the leap of faith for a rental property?


Thank you to all.

Cheers, 

Kevin