All Forum Posts by: Mohamed Mahmoud

@Julie Toh I will. Much appreciated!

@Abel Curiel Yes this helps alot. Thank you!

I'm looking to purchase our first property wich will be a rental, as I'm living with family at the moment. I'm thinking of starting small and simple. So a condo apartment close to where I live makes sense. However, it will be probably cash flow negative, as I live in Toronto, Ontario.

Does is it make sense to start this way and get my feet wet as a landlord and go from there?

Thanks!

@Steve Morris thank you for the feedback!

Hey Bigger Pockets nation,

So I'm currently renting a condo apartment, and the landlord is considering selling and approached us as potential buyers.

The neighborhood is growing with a couple of developments coming in. I believe it's a good market for appreciation.

My wife and I are thinking of buying it, moving out (for work related reasons) and renting this unit out.

However, we have been struggling with roaches for a few months now. We tried everything to eradicate the problem, but they still seem to keep coming.

That being said, would it be a good idea to buy, knowing that this might cause a problem to future tenants?

How would this affect rental rates and vacancy rates?

Thanks in advance!

So I started a direct mail campaign and surprisingly got my first response now.

My ideal cashflowing price for the property is 330k, however the market value is around 430k.

Should I begin my offer with 330k? Or would that just scare them off?

Is there a certain technique I could use in negotiating?

Hello fellow investors,

-Just wanted to know what a reasonable cash flow and COC-ROI is for a rental property in the GTA market with this heated market?

-Is 100 dollars +ve cashflow and 1.5% cash on cash ROI reasonable, or is that just too low?

Hello fellow investors,

So I'm analyzing props in my neighborhood and according to my realtor, rents are pretty high and range from 2300-2800/month.

Of course if that were actually the case, I wouldn't be hesitant at all, however the stats he sent me were for advertised rents, yet when I checked the history to see how much they rented for in the last few months, I couldn't find anything more than 2200. Except for a rare case of 2400.

So is it wise to depend on advertised rents? even if a lot of them are advertising that much?

Also, should I except lower rents with Covid going around?

Thanks Marc Winter for the reply. So If I'm using direct mail, It's better I wait a few months for a reply it that's what it takes?

Also, how long should I expect a response from those 88 homeowners before moving on? I wouldn't want to miss out on other deals on the market even if they aren't as great as the ones that I could get from direct mail.