All Forum Posts by: Paul Day

I'd be very interested in an update if you have a minute Alex.

I'm curious how your plans changed after receiving feedback on the forum and what you've been doing the last 3 years.

Thanks for sharing this. I learned a lot from this thread!

One thing that hasn't been mentioned is discrimination. I've heard a few horror stories of landlords being accommodating with one tenant and getting sued by a different tenant when they failed to offer the same accommodations to the second tenant.

For example if you gave tenant 1 (the tenant who wants to leave) a discount to have them stay and the tenant 2 found out about the discount, they could also ask for a discount and if the landlord said no it could open the landlord up to a discrimination lawsuit.

I could be wrong I'm not a legal professional and I'm a rookie investor at best but these may be things to consider.

I'm in Niagara Ontario

I'd be interested in hearing from other Canadians whether you're in my area or not.

It would be nice to have a specific canadian forum where we can talk about asset protection and tax and other country specific REI topics.

Thanks to everyone who replied this was a very encouraging experience!

I appreciate the advice it's given me more things to consider.

I think I'm going to have to go across the river and take a look at some of these houses in person!

This is my first post so I'm sorry if I break any rules!

I'm looking at investing in Buffalo, New York for my first REI to get my foot in the market.

Buffalo isn't short on distressed homes. The city was selling them for a 1$ for a while.

I'm a skilled handyman so renovations don't scare me. I have experience roofing and doing major structural repairs which makes me feel these distressed properties are right up my alley.

I'm hesitant to pull the trigger on one of these "deals" for because most of them have been on the market for 200+ days.

If anybody has anything to share about distressed homes or the Buffalo market in general.

I've wanted to buy distressed homes in "bad" areas for years but I'm always talked out of it by somebody "smarter" then me. I've seen too many distressed buildings turned into high end homes. I don't want to keep missing the boat. On the other hand I don't want to rush into something that's obviously a terrible idea in hindsight. I've been running numbers like crazy and I can't find a reason not to buy these houses.

Thanks!

Thanks @Eric Winstanley I have an alert set for forum posts mentioning Buffalo.

Hope to see you in November!

I wasn't able to make it last night. Does anybody have anything noteworthy to share? Thanks!