All Forum Posts by: Davinder Hans

@Chris Baxter thanks, I see some of them have resistance of more then 30 minutes.

Do you know if they typically require the metal frame to be changed as well?

I’m looking to purchase my first multi family property. It’s a 2 story 6 unit building.

There is currently an inspection order on the building that states the drop ceiling tiles should be replaced so that there is a fire separation with a fire resistance rating of not less then 30 minutes.

Is this achievable by just replacing the dropped ceiling tiles with newer higher rated tiles? Or does it have to all come down and be dry walled?

@Jordan Gillespie I have a property in London, which is about an hour drive from me. If you want great cash flow and don’t mind traveling a bit it’s worth it. At the same time Windsor is approximately 3-4 Hour Drive. I’d suggest a property management company. You sacrifice a bit of cash flow but in my opinion it’s definitely worth it for a property that far!

Anyone know the legal bedroom limit for student rentals near university of Windsor?

Thank you everyone for your input!

@Will Gaston From my experience, when management is involved the cash flow decreases a fair amount. Would you recommend managing them on my own?

@Jacob Perez I had no idea RBC still financed them, Does RBC finance them at the going rate? or do they charge a higher rate like other banks because they are considered more "risky" by some banks. 

I know student rentals usually have a higher cash flow, but I have had trouble arranging mortgages for them.

I want to get a feel for what investors on here prefer and why?

Anybody know the implications of getting a mortgage when it comes to being paid on a commission basis. I am looking into buying my first property. I know banks want two years NOA's, Would I be able to get a mortgage with only one year's NOA's?