All Forum Posts by: Dan Veld

My first thought is,  would Biden even have the power to due this or is it just a campaign promise that would have to be put to the house and then senate and then likely changed or shot down along the way.  As real estate investors,  we know the tax man will come for us at some point.  Hope to have another 5 to 10 years of similar laws and no drastic changes.

My thoughts is try and negotiate with the tenant,  be in contact and friendly,  maybe they can pay half rent or even give them a months free rent,   It might save you a messy eviction and months lost in rent and rehab costs to the property. 

I’m looking at buying a condo that I want to live in one day but rent currently, the price is 80k,  I could likely put 20% down if needed.  Any tips for raising money maybe in the 5 to 6% interest range?  I have a primary mortgage and other investment properties but traditional bank mortgages won’t work as I’m not currently working (by choice). 

Have 80 to 100k to invest,  thinking where and what people would buy in Canada.

I wrote it out in the description,  now don’t see it,  getting used to this site

See description 

Trevor Gaal,  also interested in your thoughts on Moncton,  as I’m looking at properties in that area,  I’ve ran into some of the problems you have listed but do feel positive about long term buy and holds there, but I guess time will tell 

Roy,  lowering operating costs is not likely,  they will likely go up as I’m planning on using property management on this property.  Raising rents on the other hand,  from my research looks very likely over time,  each unit has been rented for the same amount as far as 3 years ago.  One great thing is tenants pay there own utilities,  so expenses for me are mortgage, prop tax,  insurance,  snow, grass,  prop management.   After expenses, I’ll be sitting at about 600/month cash flow.  But that’s being conservative with cash flow as the mortgage is tied to a couple properties so true number will Be a little higher.  

Off course there will be vacancies, repairs etc as I go,  but I feel with added rent over time it should perform quite nice.  Any appreciation would be a bonus.  Looking at a 5 to 10 year hold on this.  

Inspection came back today,  roof will need some attention soon,  other than that the deck will need a bit of work and some small stuff,  overall pretty happy with the inspection (other than roof) 

What are your thoughts?  Thursday is decision day 

Example of a 200k multi family in New Brunswick.   Rents for 2625 total (before expenses) but rents are lower than they could be,  I think with some tenants moving on, could be 3000 to 3500.  

Does 1 % rule account rent after all bills are paid or before? 

Ok I see,  it’s just what I was told by a realtor there,  no problem,  still working out whether to buy downtown or in the suburbs