All Forum Posts by: Roy Cleeves

So true. 
Plan to refinance now!!

If you can figure out a way to make your home into two units with the funds from the bank without making it a legal duplex then you could Airbnb 2 units instead of one and this would probably create a lot more cash flow for you. 

Best wishes and you seem to be on the right track!

You could ask for the tenant to provide a criminal check yet that is not common here.  I don't know if you could order a criminal check on the tenant yet the tenant could order one.

@Elijah Williamson congrats on your first property. I totally agree with @Account Closed.

You definitely want to run background checks before accepting any tenants.

1.  Google their names

2.  Check their current living space - drop by with whatever reason you have to use.

3.  Call their past landlord - not the current one - ask them if they would rent again to these tenants.

4.  Review the application - how does it look?  Is all information there and is it neat and complete or messy and missing info?  Do they make at least 3 times your rental cost to them?  How long have they worked at their jobs?  How old are they?  How many people will be living in the house?  Do they have pets they are bringing?  Why are they moving from their current rental?

5.  Check their work references.  First, verify the phone number as a business number and not a friend's cell number.  Ask them to provide an employment letter from their employer.

6.  Have them provide you with a copy of their full credit report for all people that will be living at the home.  They can get a free report from CreditKarma.ca. Review all sections for any poor credit history.  Also, review the amount of money owed to creditors on this report.  If they owe too much then they may have trouble paying you.  If they have a score of 680 and above and no late payments then they are a better risk for you.

If you have any doubts, then move on to other tenants.  

The difference between enjoying being a landlord and NOT is the tenants that you accept for your property.

Good Luck!

That depends upon your goals.  You need to first determine why you want to do real estate investing and then set some goals to match that.  Then you can discuss what options would work best to meet your goals.  

@Leo Turkes Hi Leo.  Best if you start by watching the different investment videos here on Bigger Pockets.

Have you figured out your investment goals yet?  If so, please share them and that will help those reading.

Best to try different Mortgage Brokers for solutions.

We came up with Fast and Reliable property management as a descriptive name.  

So you could do something like that

@Chris Judd

It definitely is popular.  That builder is doing 24 units and has a list of 87 applicants.  It is most popular as a retirement community.  And the homes are bungalows with help for looking after the grass and the snow.  So a great fit and easy for landlords as most seniors make excellent tenants.

I have a lot of investor clients that have bought in the Meadows project in Falmouth.  By Harvest homes