All Forum Posts by: Pierre-Luc Allie

No the first is all mine, and the basement is all theirs, outside of the boiler room and a small storage room I'm adding. Funny thing is I called the agent about another property on the street with student rentals already there but the rent was very low since the rooms were tiny. She start to talk to me about this one and it made a lot more sense to me.

I'm going to have to split the baseboard in the kitchen in two since I'm splitting the room. Probably going to relocate the washer/dryer in the kitchen if it's feasible. I'm going to tear apart the old ceiling, replace it with a good suspended one. I'm going to put sound insulation too...

Hi Roy,

            Update: I just bought a place. 5 minutes walk from my town cégep and 5 minutes car ride to the new university campus.  A small campus but according to an article, 35% of student are going to come from out of the region. There`s already a bachelor apartment in the basement, so all I have to do is convert the living room into a bedroom and move washer/dryer out of another room.

This is the place: My new house

The 3 rooms have 180 square foot. The kitchen is pretty standard, but the bath room is small at only 35 foot. The 2 existing rooms have their own vanity, I'm probably going to add one in the third room, so my renters will have no reason to go the bathroom to brush their teeth and etc.

One more thing @Roy N.

What about space in the rooms? Do you eliminate the common area as much as possible to make bigger rooms? Do you put futons, sofa-bed or loft-bed to make small rooms feel bigger?

That's the main reason that makes me consider student housing. In my area it seems like a very unsophisticated market in the way they are maintained and marketed. I wouldn't need to do much to stand out.

I really appreciate your detailed answers. Thanks.

Thanks Roy.

What is your strategy in regards to the amenities? Do you try to keep it low grade or do you invest a little to make your rooms stand from the rest of the market?

So what are you tough on this niche? I'm in Drummondville, and the area around our CEGEP is mostly SFH. A lot of them have put rooms in the basement. It's technically illegal but the town never did anything about it.

My hesitation is mainly due to the summer months. For what I remember from my days, it's 15 weeks + 1 week of break + 2 exams weeks. So 36 weeks of school. You basically start with a 30% vacancy rate. I understand that I could use AirBnb, but it's in a big tourist town... I might get a temporary worker or 2.

The upside, if I get full occupation, during school, a 3 room basement could net 900$/month. There's no way I could make as much with a bachelor apartment.

Anyone thought about that?

Hi guys,

             I'm from a small town between Quebec city and Montreal. My goal is to live entirely from real estate in the next 3 years. I'm currently following a course theorical/practical course in Real estate at Immofacile.ca. It's been great so far. Last month I made an offer on 3 MFH(6,7,8). It's been accepted but since the inspection it's been problematic. We can't get to agree on a compensation for work that needs to be done. At the moment, my calculations of the 21 units, they gave me an average of 54$/m of cashflow.

I've been listening to the podcast for a week, they are fantastic. I hear a lof of things that confirm what i've been hearing in class. Like the 50% rules. My 21 units gave me 49%. Pretty close.

Really looking forward to talk with the community!