All Forum Posts by: Account Closed

Hi Gloria, welcome to BP. I have to agree with Matt it's really hard here in ontario to wholesale. If you are starting out in real estate investing and you are possibly short on capital would be to partner up with an experienced investor or possibly try a house hacking strategy by buying multi family, living in one unit and renting the remainder out that way you can get away from the typical 20% down needed to buy investment properties. You also mentioned flipping. I have to say it's harder here in ontario to do as margins for profit are tighter. You could possibly look at buying undervalued property fixing it up, get it appraised and pull your money back out then rent that property out. repeat the process! Anyway best of luck.

Hi Kristina, welcome to BP. Congratulations with the purchase of your Duplex. Do your due diligence when screening tenants. Good luck and If you have any questions or concerns please feel free to ask!

Hey Matt,  would like to go but have to work. Maybe can try a weekend some time.

Thanks again for everyone's input!!

Hey Giuseppe,  what you are saying is very true about the value of my time can 20 to 30 dollars really be worth it especially since having great tenants who pretty well make my small portfolio run on auto pilot. Someone in the comments above asked me if I factored in my maintenance into my rents and the answer is yes. This for me has always kind of been at the forefront of conversation. I think I should increase the rent but also keep the core values intact to keep the great tenants I currently have and create a larger portfolio which I intend to do.

Thanks for all the feedback. Here in ontario there are set annual increases only. I was leaning on the side of raising the rents..thanks again.

Just wanted to ask a question regarding rent increases. I have 2 buy and hold properties. My wife and I bought our 1st rental in 2010 and 2nd in 2014. We have always been of the mindset of keeping the property up to date by making upgrades through the coarse of the year for each property as we want to keep our tenants happy and show them that we do care for the property and to keep the property value increasing. Since we have stared renting our properties we have built a great tenant/landlord relationship. That being said we have never increased the rents, just curious to see what other investors would do. Increase rents? Or keep on going the way we have? I forgot to mention that each property has great cash flow.  Thanks in advance for your comments.

Hi all, all really great answers mentioned above. If I may I would like to ask a question since we are touching on this topic. Is it possible to refinance a property and pull straight equity out instead on just increasing a HELOC and barrowing against that? In my current portfolio I have always used HELOC for my initial down payments on my properties and then paid them off.

Yes I bought for 184 4 years ago and had it appraised last Oct at 239900 so was pretty happy.

Hi Brent, I want to first of all congratulate you on the situation. You are I'm a favorable position. My advice would be to analyze your portfolio and see what your long term goals are and then decide. Now that being said if it was in my portfolio I would have it appraised and say like you said worth 400k, would refinance using a HELOC and purchase 1 to 2 more multi plex units. Cost of barrowing is still extremely low, use it to your advantage. Good luck!