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All Forum Posts by: Joel Arndt

Joel Arndt has started 8 posts and replied 74 times.

Post: Buying 5 Student Rental Properties at Once

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

Thanks @Jacob Perez. I’ll keep you in mind as the deal progresses.

Post: Buying 5 Student Rental Properties at Once

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36
I have the opportunity to buy 5 Student Rental Properties at once in Hamilton, Ontario.

I want to put them in one deal, at one purchase price, so I can get a "bulk discount." Is this the smartest option? I'll also need partners for this venture, no matter if the purchase is split into 2, 3 or 5 deals (depending on how the seller wants to dispose of the assets for tax purposes).


  1. Is structuring a bulk deal the same as an individual sale, just with all the included properties listed on the purchase agreement?
  2. When bringing partners into a purchase like this, do we just form a corporation specifically for these properties, or would a joint venture agreement suffice

Post: Property management, How much do they REALLY cost?

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

It also depends on where in Canada your properties are. Where are you looking @Joel Senko?

Also, which PMs are charging 20% of monthly rent. I've never seen that before.

Post: Adjacent property questions

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

@Leo Apostol 

I just got back from Hamilton City Hall. I had to talk to them about re-zoning stuff, so I asked about this adjacent property thing as well.

The official answer from Hamilton, Ontario:

If two adjacent lots are under the same name(s), after 1 year, the system will automatically put both lots onto one title. The only way to avoid this is to put each property under a different name at the time of purchase. Otherwise, if you want to sell one lot separate from the other, you have to apply for a severance to divide the lots again.

Post: "Subject To" deals in Canada

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

Sure, @Aaron Moore.

Could you do a bit of a deal deep-dive on one of your AFS deals?

  1. How did you find the deal?
  2. Why did you decide to ask for an AFS?
  3. How did you negotiate the deal?
  4. How did the AFS practically work on this one (how did the numbers play out)?

Thanks Aaron.

Post: Dryer responsibility, tenant or landlord?

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

Here's a clip from the Standard Lease Agreement;

"Section J - Maintenance and Repairs

The landlord must keep the rental unit and property in good repair and comply with all health, safety and maintenance standards.

This includes the maintenance and repair of things that came with the unit, such as appliances, and of common areas, such as

parking lots, elevators, and hallways.

The tenant must pay their rent, even if they have problems with the maintenance and repair of their unit or property. If the tenant

is having a maintenance or repair problem, the tenant should let the landlord know. If needed, the tenant can apply to the

Landlord and Tenant Board.

The tenant is responsible for any damage to the rental property caused by the tenant, the tenant’s guest or another person who

lives in the rental unit. This applies to any damage caused on purpose or by not being careful enough. This does not include

damage that results from normal use of the rental unit over time (“wear and tear”). The landlord can apply to the Landlord and

Tenant Board if the tenant has not repaired such damage.

The tenant is responsible for ordinary cleanliness of the rental unit, except for any cleaning the landlord agreed to do."

Of course, you may not have used the standard lease agreement with this tenant, but this how the LTB wil judge the situation.

A question for any Paralegals reading: I wonder, if you had a different agreement with the tenant, how would the LTB judge that? Would they still lean towards the standard lease agreement's terms, or would they honour your written agreement?

Post: What are my first steps

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

Hi @Alyssa Knox

Welcome!

I started with one of those expensive educational programs. But it was hugely beneficial and lit a fire under my butt to stick with the process. Now I've fallen in love with the process and am obsessed with real estate.

But you absolutely do NOT need to join an expensive program to start. Here are some youtube channels that are loaded with everything you need to get started:

Matt McKeever - https://www.youtube.com/channel/UCdRtqnqBSq4GY7DGi...

Max Maxwell - https://www.youtube.com/channel/UCnkmQCJ4f6rRl1PXC...

Ty the Flipman - https://www.youtube.com/user/TeachMeFlipping

All the best, Alyssa. 

Keep us updated on your progress.

Post: "Subject To" deals in Canada

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36

@Aaron Moore

Excellent! Can you recommend some lawyers who are familiar with AFS, then?

Also, would you be willing to break down a deal you've closed with AFS?

Post: My First SFH - Hamilton, Ontario, Ca

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36
@Hai Loc He bought several years ago before prices went nuts, so he's able to charge today's rent (or close to it) and cashflow on a sfh.

Post: My First SFH - Hamilton, Ontario, Ca

Joel ArndtPosted
  • Hamilton, On
  • Posts 75
  • Votes 36
@Robin Valadares Wow, no kidding. You should be getting decent rent now?