All Forum Posts by: Jay Cho

 Hi my name is Jay Cho. Running rental properties in St John's metro area, NL 

love to have a meet up with like minded investors in the town 

[email protected] 

Hi Kyle and Brandon my name is Jay. I am a local investor based in St John's. Running 5 rental properties. Love to get connected 

[email protected] 

thanks

 Hi all my name is Jay. I am a local investor in st johns NL.  Running 5 rental properties in the town. Love to share and connect. My email is [email protected] 

 Thanks I heard that I can claim 100% of the leasing car for my rental property if it is used as a business purpose. What do you think about it? 

Hi

I have 5 properties with my wife.

our debt service ratio is about 43% 44% With the car payment and about 41% 39% without the car payment.

We currently have a vehicle But it is old, unreliable, and high consumption. In payment wise, we will end up spending $500 more per month but what we are worried about the most is the Debt service ratio to work on further investments. 

we are certain that the new vihacle will make us happier and comfortable but still debating. 

whats your opinion?

thank you

Hello all

What are your best credit cards as a landlord?

Hello all

I have 5 rental properties(12 doors)

and I have been using spread sheets and an account book app but it's getting a huge mess and I would like to get prepared for upcoming tax filing. 

I  have 5 different bank accounts for each property and one credit card that I use for all my rental business for repairs, services.

When I get rents from tenants, I auto deposit all rent into one account and distribute to each for mortgages, property taxes and insurance etc. Any cash flow or left over is sent to another account to pay back the credit card or futher investment.

 Since I use one credit card for all my properties and all the money is mixed together, it is hard for me to keep tract of the ins and outs of the income and expenses. 

I have been manually adding all the transactions to the account book which is really time consuming. 

do you have any good suggestion?

any course , youtube video, books you recommend?

Thanks you

Hello all

when I recently visited my rental property I fount a lot of mold and very high humidity level. I could feel it and found sweating walls and windows.

My rental property has water circulated heating system heated electronically.

My tanents didn't open the windows for circulation often.

I added more insulation to the attic and changed the tyvek, sidings and windows recently.

there is no leaks from the roof or water line. No leaks thru windows.

do you think the mold is caused by the heating system? Do you think if I change the heating system to electric baseboard system, will this problem be solved? 

Or should I install an air exchanger or heat recovery unit? 

Thank you for your help

Hello All

a house on sale now has done a lot of renovation including 3 new bathrooms and two new bedrooms, new kitchens, new electrical panel, new electrical baseboards and removed old oil radiators.

The thing is he didn't ever pull a permit for the job.

Got an house inspection report nothing much saying about plumbing and electrical.

would you buy this house? this will definitely cash flow

 Thank you for your reply.