All Forum Posts by: Abi Carleigh

Thank you@Gary McGowan

I have been shopping for my first residential and rental property the past few weeks, for the context, I am in Canada. My plan is to buy a single-family home, live upstairs and have a mortgage helper in the basement, I would be 100% percent responsible for the purchase. This has since changed since I stumbled on a multi-family (4plex). I can afford 15% of the down payment of the fourplex but my income does not qualify for it. I have crunched the numbers and I am confident that this would cash flow and appreciate over time.

How do I achieve owning this property?

Thank you.

Hi @Cindy H.,

Thank you so much for your detailed post. We are still in the negotiation phase, all fingers crossed, I am just hoping for the best on this or something better.

Take care.

Abi

Hi @Ameen Yarkhan,

I quite agree with you about the opportunities in Calgary, have you decided on the neighborhood? I am happy to connect with you.

Take care.

Hi @Cindy H.

This is house is similar in year as yours, congrats on buying your first house? I hope it is okay to ask you some questions regarding this process that you have been through, did you have to do any renovation to the siding? The seller is requesting for no inspection, what are your long term goals with your house, would you be selling or gutting? How flexible is the interest rate that you got?

Did you have the opportunity to check the foundation? Did you attend an open house for the house or a virtual tour?

What are some immediate and major renovations that you have had to do? any other upgrades that you might be considering in the near future?

I am envisaging replacing/expanding some windows to energy conserving ones, creating some window well/ egress for the basement windows, replacing the aluminum wiring to meet codes, it is an older building and I would want to check the furnace because I am assuming that the furnace has not being properly maintained, I would not want it packing up in the middle of winter, knocking down some walls and putting a bathroom in one of the rooms would these tasks disturb the asbestos? 

Thanks.

@Sean Kollee

Thank you for your reply. For the least most expensive home that you worked on that has asbestos, what was the process like in terms of abatement, in what areas did you have these asbestors? can you speak more on this process pls.

Thanks.

Hey@Sean Kollee

I am new to this asbestos thing, I am wondering what my options are with this property in terms of cost, permits or safety, removal or replacing as infill. Can you advise more on these pls?

Thank you.

Hello @Andrew Syrios,

Thank you for having me.

Hello @Jeremy Heaman,

I have an emergency fund so I am hoping that can take care of contingencies. Now regarding your concerns about the structural foundation, I am aware that this might be the reason why this property is being sold below houses in this area but I am trying not to be attached to this building and still check houses in this neighborhood, but most houses that are built in same years are over $100,000 above what they are asking for. I am hoping we can ask for a walk-in inspection and take it from there. Remember this would eventually be gutted, as long as it does not have mold or asbestos, I think I would be ok. 

Thank you.

Hey @Sean Kollee

Thank you for response. I have seen areas around the neighborhood have commercial areas at the bottom and residential at the top is beyond two floors, this place is almost downtownish and I am hoping long term this is visible for me.