All Forum Posts by: Ryan Martin

Good weekend everyone!

Im just about to close on my second property by months end, and with my first property we rent to colleagues and friends. We try to be the best landlords as possible and work as professional as the job entails. The problem is that with people we know, we are able to do the job without always following the strict guidelines that a normal landlord would have to follow.

My question is, now that I'm getting a second property, renting to people I don't know, I want to go back to being as professional as possible, following the right routes, and doing the right things.

Are there any forum posts that you guys suggest, in relation to my duties, responsibilities of a landlord, or just tips and things you do to come across as the best possible.

Some examples may be;

• -Do I have to provide snow clearing and salt during the winter months?
• -Is it my or the tenants responsibility to cut the grass in the summer?
• -etc.

I would love to hear back as to things you guys do, or stipulate in the leases, that help you out. I am a rookie still even though I've been at this a few years but always love learning more. Im located in Ottawa Valley area in Ontario if that helps any.

Ryan Martin

Hey Bigger Pockets!

Im looking to do a Refinance and apprasial, in the coming months on my Rental property in ontario. Im wondering if there are things I should be expecting? Such as;

- things that are going to bring up/down my inspection and appraisal value,

- prices I should know about prior to having a complete refinance

- anything that comes to mind or,

- experiences you may have had.

Thank you very much, this is my first one and im hoping to go in with as much knowledge as possible, hoping to really get the numbers im looking for this BRRRR to workout.

Cheers :)

thank you very much @Huong Luu I'm taking notes and ill make sure to have a lawyer review it!

@Chris Baxter checking it out now, thank you very much!!

Good evening all, 

I was wondering what it is that you do when you would like to gain investors confidence in a deal? My biggest downfall right now is wondering what you guys use to get an investor under contract? Do you have a written document from a lawyer stating the conditions and terms of what you're borrowing and how long you have to pay an investor back? I want to make investors feel confident and want to be as trusting as possible. 

I have someone who wants to invest with me but I don't want to just say "Give me the money and trust me when I say I'll give you back more" that's very unprofessional. 

How do I go about doing this the right way?

Thank you as always. Ryan Martin.

@Account Closed this is very in-depth and exactly what I was looking for. thank you very much, I appreciate this more than you realize!

Hey everyone!

While on my investment journey I always run into people who talk heavily about a binder or "physical portfolio" on one property or multiple properties. Ive heard of them being used for mortgage brokers, outlining important information on your property. I would love to make one, however Im not fully grasping what exactly is going into this? I understand that maybe bill records such as bills payed on time may be a start, but if anyone has any idea - or has a binder themselves - my question is, what's in it? And what do bankers want to see?

Thank you very much!

Hey everyone! 

While on my investment journey I always run into people who talk heavily about a binder or "physical portfolio" on one property or multiple properties. Ive heard of them being used for mortgage brokers, outlining important information on your property. I would love to make one, however Im not fully grasping what exactly is going into this? I understand that maybe bill records such as bills payed on time may be a start, but if anyone has any idea - or has a binder themselves -  my question is, what's in it? And what do bankers want to see?

Thank you very much!

thank you both very much ill get right on that!

Had an inquiry about the topic of rental lease agreements that I was hoping I could find some answers on.

I have a rental property however for the time being it is occupied by work colleagues, and a lease agreement was never made up as this was my first property and I was trying to get people moved in. Everything (living situation) is fantastic, however I want to move into a more proper way of renting in terms of using an official lease. 

My question is, when forming a lease, is it something that needs to be drafted by a lawyer of governing body (some type of board)? or is this something like a document that I can draft up by outlining all of my terms and conditions and getting them to sign it and handing them a copy?

Some follow u questions may be:

Important information to have on there ? such as ( dates, price amounts, names, etc.) 

Is there anything I can't or shouldn't put on there?

Im going to assume a third party signer might be needed ?

How long should it be?

Thanks again, really appreciate it!