All Forum Posts by: Mike Singh

@Sriram Kumar Bikkina , thanks for providing more info . I haven't  heard of any specific  issues with a home without a basement due to crawl space . Maybe someone in this forum with some more reno experience might be able to help lol 

Your deal sounds good otherwise !!

Hi Ram , 

Sorry , can you elaborate a bit more on what you're asking ? 

From an investment perspective , there is nothing wrong with a house that has no basement as long as it aligns with your investment strategy . Personally , I would have preferred something with a basement that I can convert to a legal unit . This would allow me to increase the rental income and cashflow . 

Mike

Does anyone know if utilities are excluded from the rent control ?

 I recently closed on a property where the tenants were paying all inclusive rent , but there are separate meters so hoping I can kick back the utilities to them to increase cashflow . 

Thanks for this @Chris Baxter , I just closed on another property there and was planning for rent increases . Looks like I will have to reconsider my strategy . 

At least that property tax decrease is pretty nice !!

Make sure the property has strong cash flow so you can hold till things get better :) 

Hi Adrian , 

Welcome to bigger pockets !! @Cameron Brioux is an investor friendly realtor based in Moncton and a wealth of knowledge for investing in that area. 

I have a few investments out there , feel free to dm if you would like to ask any questions etc. 

Michael

The best time to plant a tree was 20 years ago , the second best time is now . The same thing applies to real estate , find a market where the numbers make sense for your budget . I live in Ontario and most of my investments are out of the province . I've been looking for offmarket deals with strong cashflow , so in case there is a crash I would still be in a safe spot . Feel free to dm me  if you have any questions or would like to hear about my out of province investments. 

I have a few properties in Moncton and I believe there is a strong case for long term growth , but I don't expect to see the hot appreciation that we've seen within the past couple years . It's also getting much harder to find good deals as out of province money bid up the prices . 

We have a few options here like zolo and  housesigma 

Hi Joneil , 

I also live in Toronto and this isn't true , I'm not really sure what your friend's logic was . Your first property can be a rental property. 

Michael