Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Canadian Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago,

User Stats

44
Posts
43
Votes
Jami Kloet
  • Investor
  • Sarnia, Ontario
43
Votes |
44
Posts

When the bones are good but the tenants are not...

Jami Kloet
  • Investor
  • Sarnia, Ontario
Posted

We looked at a place today that was interesting. It's in an area we are looking to get into, the price is right, and it's a side by side duplex, each 3 bed/2 bath. It's an older character home, semi-detached style, and a lot of great features - high ceilings, crown moulding, and a lot of upgrades (roof, both furnaces, all wiring, and insulation under the energy rebate a few year ago). 

Anyway, we walked through one unit and it was disgusting. Bongs on the table, clothes, food, garbage everywhere. I couldn't take a full look because I was just so uncomfortable in the space. I know I need to get over this part to find those diamond in the rough properties, and I see it in this one. 

I have two questions: 

1) For the experienced real estate investors, how do you detach from the emotion of walking into a space like that. I can see beyond the mess, I loved the bones and features of the house and I can see the potential. But the emotional part of me felt so uncomfortable in the space, and wondering how people can live like that. We've never had tenants at this level (lucky I assume?) but I know if I want to take our REI to the next level, I need to get over this. Any tips?

2) If we buy a property with a tenant like this, how do we get rid of them? In this case, we'd like to get rid of this tenant, upgrade one side, rent it for more, and then do the other side when the other tenant eventually moves out (our plan is to BRRR this one). Is there a way in Ontario to do this?

Would love any more suggestions from those who have BTDT. 

Loading replies...