All Forum Posts by: Maksu Ize

If shes looking to move out and rent:

Tell her your going to buy the home from her at current market value. In two years you will actually buy it from her.

In the mean time, she can rent it out, and probably find another property smaller in size thats cheaper to rent.

You can even offer her to pay her current mortgage plus all costs, and you will deal with the new tenants, etc. Once the tenants move in, you can tell her you will pay her the remainder of the income.

Just as some ideas. It all comes down to her preference for her future

They are dragging their feet, be firm on the 48hrs and make your decision if they dont.

If you have a scummy personality, then pretty quickly.

If your a decent human being, then between 1 day and 1 decade.

Nothing wrong with using heloc. Especially if you have savings as insurance.

The bonus of heloc, is that you can write it off.

Go for it

Freedom is boring.

All these people that retire, are bored out of their mind after a month.

The only goal is to never worry about money again.

What are your thoughts:

Multiplex, 4 units.

500k list

45 years old

Red Deer Alberta

100k pop, consistent slow growth.

Low vacancy rates

No renos required

1.5hr flight from my location

925$/per door rent

3700$ total IN

1800 mortgage (20% heloc, 80% loan)

290 utilities

530 taxes

200 insurance

200 Repairs

200 Etc

3200$ total OUT

Net 500/mo

Wheres the downvote button when you need one

Install shiplap over it.

Looks amazing, we did it in one of our condos as a test run.

No removal, no hazard, clean work.

Thanks for the updates!

Stay near your work, buy pure investments in langley / abbotsford etc.

Do NOT move out there, you will be spending minimum 2.5hrs driving each day.

I have a rental in pomo, and vanc, 20% down on both, both cashflow negative. Gvrd is a negative cashflow market, unless you put closer to 30%+ down. The main purpose of buying in GVRD is appreciation.

Abbotsford, nanaimo, mission, langley all have much higher chance of being cashflow positive.

Check rents, do the math, buy, call it a day.