All Forum Posts by: Bill Haldenby

Hi all, I had been looking for a multiplex residential property, but while searching I have come across a commercial property with a good long term lease store and 2 additional apartments upstairs .  I have two questions.

1. do I need a commercial mortgage for this type of building, what is involved in this ? (Canada)

2. with this virus going around, what is the best way to view the property without putting myself or family at risk. I have some immunity issues at my house, so as much as I want to see this, I am a bit fearful of making too much contact.

Thanks

Bill

a fear I have with Air BnB is that some cities around here are thinking of banning them with absent owners. We have had a few shootings at locations and some cities are considering only allowing owner occupied rental. That would screw me as this location will not allow me to be there based on it's size. I am looking at a number of streams for property investment, this was just one

Guess I am asking what the hassles of them are? beyond their 3% commission 

she is selling because she needed to move some 60 miles away and is doing her own cleaning and checking, finding it to much work. Again I think i have more interest in another more typical property, duplex with two units, but don't want to ignore this one if it made sense. Numbers work, but as i said no experience whatsoever with Air BnB. I'm sure rentals would be summer heavy and again at Christmas with big lull's in spring and fall

Hi all,

I have come across a cute little stone house that is currently set up as an air Bnb rental. present owner is only doing 7 night min`s. making 22K a year. Personally being in a summer tourist town I think cutting that down to 2-3 night min would look more like 32k a year minus cleaning service.  My question is really about air BnB. never used them, never dealt with them. No idea  if you can really profit from them or are they set to win while you lose? I am intrigued by what seems to be a turn key operation but I am more inclined to consider a two unit long term rental in the same area, thinking less day to day activity and work?

Thanks, just hoping for any tricks to have them more acceptable to accept. It could be after this much time there are desperate and whatever i offer will be taken , but just hoping for some ideas to close this.  Yes I do have my numbers and limits and would walk away for anything more. 

Hi All. I have been looking at a duplex for sometime.(I am new to this btw)   Located in a soso market but booms in the summer. House has been on the market for quite sometime, originally at 349,000 now 299,000. old historical mansion, 3 bedrooms, keep up fairly well, with a separate entrance 3 rd for 1 bedroom apartment.  Could use a roof but most is just remove carpet and paint. good hardwood under. They are selling with a terrible agent how does little work and tells you whats wrong with the place, maybe whgy it's been on so long. I have looked at it, and in the construction business, I don't see anything that scares me.  Ok long story just to ask, I've done my numbers and can make a go of this at 250-260,000   How do I set up an offer to not insult but to end up in that range? Any thoughts very welcome.

Thank you all!  I need to find out exactly what her fears are. I also need to sit down with analytical data sheets showing that this road is a good one. She  is a numbers person. I believe her fear is of the unknown, as if we all don't have that. Coming off Cancer has made her want to shed fear and new complications. I guess my job is to show that this is a road to less fear and less complications?   Personally I need to remember there are always deals out there and not get hung up on the two that have passed by because of this.  Stay tuned! 

Thanks, oddly she was on board at the beginning, until there was a real property to investigate. Bank had said yes and that's when she pulled away. Your right though, I am sold on this as my future, I'll have to gently sell her on it. Always easier to sell when you believe in the product right? 

Hi All. I have been looking at properties and possibilities in eastern Ontario Canada A duplex to full time rent and a lovely little stone house that has had great success on air B&B . My wife has had cancer, operation and treatment started last Oct. She is good , back to work and life but lots of emotion going on. Based on this she has no interest in adding new things to her plate. I personally believe its time for huge changes and ready to do so. My question is, what can I do to show this is a better way, a healthier choice and future. Or am i wrong and should wait a year?  Neither of us are crazy for our careers and the continued 9 to 5.