All Forum Posts by: Dylan Earl

Property Manager here to help:
-Depends on what the lender/whoever is asking wants. Usually it's for the pertaining year. But the lease start and end date will help them fill in the blanks for historic or future years. 

Commercial Property
Column 1: Unit
Column 2: Tenant
Column 3: SQF
Column 4: Base Rent/Mo
Column 5: TMI/CAM Rent/Mo
Column 6: Total Rent/Sqf
Column 7: Total Rent/Year
Column 8: Total Rent/Mo
Column 9: Cheque Total /mo
Column 10: Next Increase Date
Column 11: Increase Cheque Total
Column 12: Lease Type (ie. Gross, Semi-Gross, Triple Net, Overhold/MTM)
Column 13: Lease Start Date
Column 14: Lease End Date

Residential... is pretty straight forward
Column 1: Unit
Column 2: Tenant
Column 3: Rent/Year
Column 4: Rent/Month
Column 5: Lease Type (ie. 12 Month, MTM)
Column 6: Lease Start Date
Column 7: Lease End Date

Hope that helps!!

I can relate 100%!

I have a close family member that has BD and a tenant that speaks as if she does too. They are living a different life, unaware of how much is involved and how much we actually deal with on a day to day basis. Don't let it get under your skin. Help when you can but sometimes not responding is just as effective. OR call them instead of texting/emailing and ask them what you can do to help. If they rant and keep babbling on just assure them you can help in any way... sometimes they just eventually hang up and then a week or two or three goes by and everything carries on. 

Best of luck!

 Here in Ontario, Canada - we have a standard lease. Use it as a guide... it is very TENANT focused. If you do NOT have a standard lease in your local area, use this one as a template:

http://www.forms.ssb.gov.on.ca...

Absolutely - no brainer!
Why would I purchase a house and pay the mortgage/costs myself when I can rent out and have someone help out?

Only case it doesn't work is if you cannot manage tenants, don't deal with noise/others living above/below you well or have a family that causes noise/needs the space. 

Best of luck!

Great Thread OP!
1. Discovered I had a curiosity for how housing worked, behind the scenes... after working on construction

2. Worked in Restoration as a Project Manager for 4+ years and got an understanding for costs, order of construction, permitting etc. 

3. Attended University to get a better handle on financing, business, debt/equity markets and networking

4. Got a job as a Property Manager, learned a great deal of skills through experience - now working my way into Development Project Management

5. Purchased a principle residence with my wife, converted it into 4+2 (we live in the basement atm) tenants pay for the mortgage+util, we contribute for difference left for insurance/property taxes (still less than what rent would be elsewhere)

...now just saving up for the next one!

You can save up, secondary lender or low interest rate borrowing, partner with someone who pays the down and gets the CF while you do the running around/managing until their down is paid off + some interest most likely. 

Best is always to save up or get it gifted or partner in my opinion!
Easier and better to own 10% of a portfolio worth 10 Million built by 10 people THAN own 100% of a portfolio worth 1 million built by yourself. 

I'd say carpet runner for sure! 
3rd Floor = Existing Carpet
2nd Floor = New carpet

Therefore stairs should be new carpet colour. 

You are a landlord, you deal with housing related issues - not criminal or personal issues. 
If a vehicle drove through your house and accidentally killed a tenant's pet in the process, the only thing you should be focused on is working with insurance to get your house built back to what it was pre-accident. Let insurance and police and lawyers do their jobs with all the other stuff. 

If their dogs get attacked (whether it be by a neighbouring pitbull or a hawk or a car through the house) it is not your responsibility to find a resolution. The onus is on the owner for their pets, children, belongings etc. 

@Jason Padgett I work for some developers that pickup Vacant Land and develop multi-use buildings, multi family, commercial, etc. I work from the developer's side providing financial lenders, appraisers and city grant program specialists with development pro-formas, floor plans, etc. I hire GC's to build what we design and ensure that we are on track to hitting our ROI targets. I'd be happy to share information, baseline knowledge - send me a DM!

My experience and exposure is limited but I would imagine, like anything, Real estate is cyclical. I believe I've overheard 8 years is the typical cycle time... but there are always pros and cons for each stage of the real estate cycle and investing process. Low interest rates = time to borrow and spend. Rising interest rates = hold, lend and maintain. I also think that the bank requirements would change if interest rates were higher too, it's always a trade off