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All Forum Posts by: David Laplante

David Laplante has started 1 posts and replied 9 times.

Post: French investors in BP ?

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

I'm a french canadian too!  Not sure how many generations though... probably like 100th :)

I'm also in Montreal (South shore actually - Brossard)

Displays very nice on my windows phone too! Don't forget us ????

Also please, when you make the app, make it for windows/windowsphone too. Please !

Post: Tenant wants to sublet, how do we do this?

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

I would definitely do that, let her did someone and you approve them. Then let her out of her lease.

I usually also place an ad myself in a free place. I prefer prescreening myself over the phone first than letting someone who as no incentive to prescreen do it.

Post: Prospective tenant wants reason for declining them.

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

if the report said that the provided address did not match, couldn't you just use that as an excuse? In Quebec, doing so constitutes a legal violation of information disclosure...

Post: Vinyl Plank (Allure) Flooring

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

I've installed a "click together" type with wood patern in a kitchen and they are very easy to install.  Although that is the only time (yet) I've installed this, while shopping around for them, I came to realize that there are different qualities in them.  Some are quite sturdy while others are very soft.  I found that on the soft ones, the railing used to click together would break easily so I opted for the more sturdy ones.

As for the stick-on types, I woould be afraid that they would peel off if the floor wasn't clean enough when installing them.  On the other hand, if one does peel off or needs to be replace, the stick-on type would be much easier to replace.  With the click-together ones, you would have to undo the flooring until you reach the one you need to replace.

Considering it is for kitchens... I prefer vinyl tiles like this.  they don't look quite as good but they hold water from my "water accident prone" tenants

Just my thoughts :)

Post: Responding to Lazy Applicants

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

I use exactly your approach with exacgtly your reasonning.  And quite honestly, I may be missing out on a great tennant but I feel that I'm pre-screening so much potentially bad tennants that it's worth it. 

And with so little effort on your/my part, I wouldn't change my way in a million years. 

Post: Setting up your real estate business

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

thanks dor the share! I've been looking around for canada specific info/blogs.

I can't really give you my opinion yet though as I'm still very new at all this.

If you have other Canada related sites (especially for quebec province) please share :)

Post: Newbie from Montreal, Canada

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

Thanks everyone for the warm welcome!

It's reassuring to see that there are a few quebec based members because of the particularity here where the government is imposing all these restrictions on us. So yeah, count on me to ask questions about tenant/landlord relations advice and tips and also about regulations here in Quebec.

@Paul Timmins, I'm investing in Canada for the foreseable future. I wouldn't feel confortable investing in another country before I get confortable investing in my own country and town :)

David

update: how do you guys insert that username mention ?

Post: Newbie from Montreal, Canada

David LaplantePosted
  • Investor
  • Brossard, Quebec
  • Posts 9
  • Votes 4

Hello BP Community!

I am from Montreal, Canada. More precisely in Brossard. I am 38 and working as an IT consultant.

My wife and I bought our first triplex 2.5 years ago after realizing that we would not get very far by just saving our money for retirement. We had to do something. My brother had already bought a triplex a few years back and when I was young my father had bought a 16 appartment complex but only kept it for 2 years.

After talking to both and reading my books on the subject, we thought we should give it at least a try and if we don't like it, we could always sell the property and move on.

2 years after buying our first, we decided it was well worth it and started looking for a second one. This time, our research took us to a 5 appartment building about 2 minutes walking distance from the first one! We ran our numbers and decided to jump in.

When I realized how the previous owner had set things up, I quickly realized that, even though my first one was not such a pain, things could be WAAAAY better than I thought! We've had this 2nd one for 7 months now and we never got any phone calls for anything and we even get paid in advance!

That is when I realized that I should maybe seek to get better informed and I started to look for a forum where to post questions to other investors like me.

So here I am! I looked for similar forums in my area but although there are groups and associations, none seem to have forums like this one.

My current job is IT consultant in the Business Intelligence domain. We build complex analysis applications for businesses so that they can take better and faster decisions by brigning to light their information in a easy to play with model. (of course, I use this know-how to build my self the same thing for my investments :) )

Recently, the though has been in my mind that maybe, just maybe, if I keep at it, either me or my wife (or both!) could retire early. After reading quite a bit of posts here and elsewhere and reading many books, that though keeps growing!

I always had a feel for being my own boss but am lacking knowledge in area necessary to have a full blown company so I resorted to being an IT consultant (half way to being my own boss). Taking care of the 2 properties I already have, I like it! I like it a lot and I find I am suprised by structure and the help I can get in areas I am not confortable with (mainly accounting).

My hopes, then are to, non-aggresively for now, start buying more properties and educate myself that way through hand-ons practice. Then, when I get to renew my first lease (due in 2.5 years) to refinance that building and buy another one.

I am very glad to have found this site and am looking forward to connecting with the most people I can especially if in my area!

David