All Forum Posts by: Justin Daoust

And The regie du logement allows us to raise by appr .6-.8%..... The next year.

@Roy N.

The Tenant upstairs is more like 150$ below market. I end up paying 55$ out of pocket each month. And yes, I'm on a 5 year fixed. Had no choice. But looking at all this today. I might try and clean my credit real fast and try refinancing by putting that 7-8 000$ hit on my new mortgage. I don't know if I'm just dreaming or if it's possible... But I'll check next week with a mortgage broker to see the possibilities.

Thanks! 

And thank you @Doug McLeod

@Doug McLeod

I would end up putting the penalty in my mortgage if possible, or else it wouldn't be worth it. Up here in Quebec...the laws are better for the tenants than landlords. I can't hike up rents as i wish. 

Hi everyone. I'm in Montrel, Quebec, Canada. And the question is more of an opinion that i need. I bought my duplex around 3 years ago. I was living in it for the 1st year and my upstairs tenant was and still is paying below value. I'm still losing approximately 55$ a month which is not alot but still not ideal. All renos are done by me and out of pocket. I still have 2 years and 2 months left on my mortgage before i should refinance and have a 7-8K penality if i go that route.

Now i know things are very different up here in Canada so i'll try and explain as best I can! 

Rent coming in 1513$ month   18156$ year

Mortgage           1179.49         14153.88

insurance             114,20           1370.40

Taxes                   270.37           3244.44

+18 156$- 18 768.72= -612.72$

I may be able to refinance and pay the penality and have a cashflowing property but have no money extra. I think it should be cashflowing between 150 to 250 a month. I just have to check my credit to see if it took a hit with my personal mishaps. 

What would you do in this situation.

Thanks for your help!

@William Johnson

Merci! Ça serais avec plaisir pour le café! Vers la fin de la semaine je vais être moins occupé ou quand t'auras le temps. 

@Dmitriy Fomichenko

Thank you very much and looking forward to exchanging views with all of you! Have a great day

@Patrick H.

 You'll be living the dream! With the experience you now have, you'll find pleasure in doing what you love. Hope you find a mentor to help guide the way when things get a little foggy. And hope to hear how things go frome here. Have a great day

@Walker Hinshaw

Thank you for the welcome and the links!

@Roy N Merci! Thank you sir. I'll be happy to help anyone with questions for Québec related real estate. And I know i'll have many questions on other parts of Canada and the U.S.

Hi everyone... WOW. So much information here it's unbelievable. I found this site out of blind luck and jumped at the chance at a free webinar and i liked it so much decided to go pro. I invested in a duplex about 3 years ago and i made a few mistakes which slowed me down too much to my liking. But with the info and hopefully with all your help, I won't be making the same mistakes! Have a good night