All Forum Posts by: Jamie Montpellier

I see... Well, keep doing what you are doing as it seems to be working out for you. Maybe he will wake up one day and realize his Apple computer isn't providing him a dime for his future.

Cheers!

@Roy N.

Thanks for the breakdown as I the vacancy rate makes sense 1/12 although looking at the rental board for that area it seems to be around 3%.  I prefer being conservative as well!

The tenant will be responsible for yard maintenance etc... That's how I run my current properties and haven't had major issues thus far.  

As far as lipstick on a pig, I will be dropping by to view the home soon and will make sure the big ticket items are in great shape... Roof, foundation, basement, electrical, plumbing furnace etc...

Thanks for the feedback!

@Travis Beehler

Maybe your friend is secretly envious and would love to tap into your knowledge and skill set.  Spend some time with him or her next time and ask them if they would like to more about this amazing opportunity you've created for yourself.  Call it whatever you want, I think we all know we're on to something here!

Cheers,

Jamie

oops forgot to mention 170k @ 3% for 5yr on 30 year amortization with conventional lender

Mortgage payments 572$ a month

 Hey folks,

Up here in Canada and looking at a SFU

3bed, 2 bath approx 1100 sq ft. About 40 years old

Nicely renovated , electric heat

Market rent 1400$ tenant pays all utilities

Property taxes 2400$ a year

5% vacancy rate

8% maintenance 

10% property management

Final cashflow per month 200$.

Yay or nay?

If no, why and if yes why?

Jamie

@Barbara G.

Right, many factors to consider... I'm not asking if the numbers work as much as I want to know if someone has owned or owns a One bedroom house as a rental.

Thanks for your input. I appreciate it

Hello everyone,

I came across a small home in my local mls listing and at first I though i misread the description but I called to confirm and the listing is a ONE bedroom home.  In all honesty, I've skipped the listing for some time now but I'm just wondering has anyone ever owned such a small home as a rental? Opinions? Ideas?

The asking price is 80k and I figure it would need some tlc and as for rent, a one bed apartment rents for around 700-850 in that locale.

Talk to me.

@Antonio Cordeiro p.s. Townhomes in aurora go for low 400s and on while a single detached home would be low 500s and up... Bloody expensive.

@Roy N. the property is in fact in a smaller city north of where I reside... To be quite honest it's a great rental city.  The price to rent ratio is very good!  Finally, the 30 yr mortgage was confirmed if I put down the 20% down payment.  

Thanks again for your input!

@Antonio Cordeiro this property isn't located in Aurora. That would indeed be like finding a unicorn!

The building is 40+ years old and is electric heat. The lender is with a big six bank as I'm putting down 20%dormth down payment.

Thanks for the advice, I will,definitely have an inspector go over the minute details with me as this would be my 3rd and 4th door adding to my small portfolio...  

Jamie