All Forum Posts by: Jeff Nishimura

 Hey Linda, I've lived in Thunder Bay for 23 years and own 2 small multi family properties. Let me know if you have any questions about the area.

Just started the free trial of Rentalhero and it looks like it will be able to cover everything I need for my 2 small MF properties. For all the features provided with the current price, I've got my fingers crossed that it will work.

Hey Chris, I've acquired 5 units this year so far and I'm looking to raise capital to move into larger deals. Do you mind me asking what was the most effective selling point? It could be the rates, equity or brand to name a few.

Thanks,

Jeff

What neighborhood is it in?

Thanks for the reply  @Jovon Itwaru I have a private money lender with agreed rates.

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It is a single family home that has been converted to a 4-plex consisting of four self contained one bedroom, one bath units with coin op laundry.  The rents are slightly higher than average but definitely achievable.  The property was built in around 1960 and is in moderate condition.

Hey BP,

I am currently in the process of acquiring a duplex that is occupied by tenants that are paying well-below market rents.  Legally, I can only increase rents by 1.8% under new ownership unless there is a capital expenditure or significant increase in property taxes that justify it.  Does anyone know of a way to evict them under the Residential Tenancy Act in Ontario?

@Sol Kassam Thank you for the advice!  I still live at home so there is no need for roommates but I was curious to see what other investors think of student tenants.   I am still in the research and learning phase but I plan to make my first deal by the end of summer.  I do appreciate you reaching out, hopefully we can work together in the future!

@Tatyana M. Thank you and I've quickly come to realize that! As a stock investor I've always thought real estate investing was high risk and lots of work so I've opted for REIT's in the past but after many hours of listening to podcasts and reading books I've learned that it can be a hassle-free and low risk investment as long as proper planning and expanding education is practiced.

@Jason Bruning I'd like to start with a single family as I've read and heard from multiple sources that it is a good first buy.  Although I would consider as large as a quad-plex for my first buy.  Ideally, I would like to work my way up to multi family within the next 7-10 years.  In terms of my goals, I'd like to be financially free before 35 so I can spend more time doing the things I love as I have already found that with my profession is very time demanding.