All Forum Posts by: Alex Kovalenko

@Kyle Fairbarn We are buying in places around 1 hour outside of GTA with good rentals markets - a lot of renters who sold their properties need somewhere to live lol , it's about 5%-6% cash return on investment without including appreciation.

When you are doing background checks - if you get a tenant who is rated C (Top 10%) - do you still rent to them? Thanks

Yeah - sounds like he got a better offer. Happened to us as well - we were selling our condo, and got an offer that we signed, and then got an offer $20k cash offer above asking no contingencies.. Definitely would have preferred to take the other offer but was too late. Lesson in all of this - patience is a virtue ;) 

@Andrew B. - all the ones who refuse background checks are deadbeats? ;) 

@Jason Shackleton - this one? https://www.tenantverification...

Thanks @Landon Bleau- he looks legit but I wonder if many people refuse background check and why? Something must be up. I liked what you said: "extra month of vacancy will cost a lot less than renting out to this person" - makes perfect sense.

Hey guys - we just started renting out a unit and have someone who is interested but refuses to do background checks (says: I am not applying for a job - why should I do a background check). He claims to have sold his house (no landlord references) and divorced his wife and wants a place for himself and his dog. He claims to be retired (no employment letter). 

We have just started advertising - what should we do? Thanks!

We are renting few condos in Ontario Canada and want to know what websites do you use to do background checks in Canada? Thanks!

Thanks Roy - problem with anything outside GTA is that we would need to pay someone 20-30% to manage it. Ideally wanted to have 3-4 properties and managing ourselves before paying someone else to do it. 

Hi guys - what's your take on buying a rental property in a hot real estate market where the real estate prices shot up 35% in some areas of GTA. Seems a bit insane to pay $430k for a tiny condo or $550k for a beatup 1950s falling apart house.. that you can rent out for around $2k

What's the advice here? Go somewhere else where prices have not been as crazy? Wait? Thanks!