All Forum Posts by: Peter Davies

Great thanks for your reply!

I have a house that I live in the lower level (rent upstairs) which has a carport.  I'm looking at having this converted to a additional bedroom/bathroom.  I'd like to recapture the expenses for the project.  What's the best approach, get a pre-appraisal, build bedroom, and then do a post appraisal so that I can pull the cash out on a refinance?

Appreciate insight

@Julie Hi Julie, thanks I have been in touch with an accountant I'm hoping to see in a few weeks. Cheers Peter

Thanks guys for your replies!

I was reading awhile back (cannot remember the source) where there was a government program that would lend you up to 40k towards upgrading your investment property. You would pay that from your pocket first then they would pay you back and then add that amount on top of the existing mortgage. Does that sound familiar to anyone??

I was wondering if anyone knows of an accountant (Ideally based in Vancouver) who you'd recommend with expertise in Investment Properties?

Marcos, Susan and Edison!

Thanks

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $414,000
Sale price: $420,000

5 bedroom, 2 bathroom clean & well maintained home. 3 bedrooms up, with 2 bedroom suite below. Large fenced yard (.22 acre).

What made you interested in investing in this type of deal?

Good price, place was well maintained and some cashflow.

How did you find this deal and how did you negotiate it?

Vantage Real Estate in Kelowna helped me find this place. They are investor focused realtor which is a bonus!

How did you finance this deal?

Bank

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

AJ Hazzi, Vantage Real Estate, Kelowna.

@julie- that's good to hear.  I'll PM you.  /cheers peter