All Forum Posts by: Roy Cleeves

You are correct.  Best to be patient at this time or buy a duplex so that you double your income.  

I am in the Kitchener Waterloo Market and my clients here with Airbnb are almost full of time.  And I believe they receive nightly rates of $150 or higher depending upon the unit/home size.

I am not sure about confirming the boyfriend received a copy.  If you have a mailing address for him then best to send it by registered mail.

Our paralegal mentioned that he felt it would need to be late 8 times to be considered a reason to evict.  Yet it will take you some time to get the hearing so you might as well start now and by the time you get the hearing you will have your 8 times probably.

Best Wishes.

 Hi Sam:  It is difficult to get a refinance.  There are companies that will do it that are not banks yet they charge a lot.  You might be better to just keep the cashflow going on it and invest it as it comes in.

I believe that taking a full time job will help you finance that first property. 
and yes you should incorporate real estate design into you graphics business. 
man’s finding properties can definitely be done on evenings and weekends. 
mid you would like help searching in Guelph then I can recommend an investment Realtor there for you.  
we can connect on that and more through the colleague request and direct messaging. 

I like the idea of using your Mom's equity, yet she would have to agree.  And you would want to pay her an appropriate rate of return or cut her in as a partner in your investment.

And make sure that you get something that will cash flow as this would be key to ensure that you and Mom are happy with the investment.  It is also important to be clear on the exit plan for you and your Mom with the property.  This can be something like when the mortgage comes up for renewal in 5 years we will look at the options of 1.  Selling.  2.  Refinance and continue.  3.  Refinance and pay out Mom. 4. Anything else.

Best wishes.

 Mine were all cash purchases. 

Hi Fadi - Welcome to Bigger Pockets.

Great Analysis. I wish you well with it if you decide to go ahead. At this time the prices are falling and we are not sure where they will end. So $800,000 plus ARV now might be $700,000 plus ARV when the renovation is done.

The key is to renovate as quickly as possible and get it onto the market as soon as possible.  

Best Wishes

@Gurjot Grewal

I bought three homes in the USA - one each year of 2009, 2010 and 2011.  Each was approximately $80,000.  I sold one of them last year for $200,000.   It was good for cash flow while I owned it yet the price did not go nearly as high as what I owned here in Kitchener, Ontario.

These homes are in Davenport, Florida - 10 minutes to Disney World.   The Government in the USA keeps a percentage of any sale and any rent - the accountant will verify the exact amounts for you.

Best Wishes

None that I know of.