First time investor in need of some input, first deal going bad?

[Randall Priebe]

So I finally did it. I bought got the money together and bought my first renal property.

Sadly so far it has been a struggle. Even with all the math there are things you can not know.

Quick back story. I live in Vancouver Canada area so could not afford to buy in my local area as a down payment would be over $100,000 for even a condo.

I ended up buying in Winnipeg. Much cheaper prices and still good rents. Low vacancy and a population for 700,000.

Duplex price $127,000

Now that issues started. Had to pay to get electrical work done that was not foresee. That cost $8,000. Other repairs were another $3,000 that I new would be coming.

After 2 months one unit rents out for $650. So that’s good.

The second unit is a 3 bedroom that should rent for $925. It’s been six months still not rented. Determined it’s prob bc it does not have laundry in it. So I’ve now put in laundry. Ended up costing $6,000 to get plumbing, electrical and new machines put in.

Now the issues. I’m stressed haha. I’ve put tons of money into the house and still don’t have it fully rented out.

Since I’m 5000 km always from the property is all being run by a pm company. They seem like a good company but hard to tell as I’m this is my first go. How do I pressure them more to get a person renting the unit.

Has anyone been here before. What did you do. Do you sometimes just have to wait it out. At the moment with the one renter I’m loosing $150 a month. So once the second renter comes this will be nice. But if I don’t get one in a few months I’m going to be pretty stressed.

Thanks for reading my vent needed to type my thoughts out. Any thoughts, ideas or encouragement is very helpful.