All Forum Posts by: Sarah Larbi

Brantford is where I invest here are my numbers: 129k= $1000 per month 177k = $1300 per month 207k= $1450 per month 165k= $1300 per month

Does anyone have any experience investing in Costa Rica? I would like to buy a future retirement home to get away from the cold winters but in the meantime would love to rent it out as a vacation rental. What are the good areas to consider and where would I get the most vacation renters and cash flow?

@Sterling White Thanks!

@Account Closed ok thanks I'll check I out :) 

The last house we just closed on (Friday) was in response to posting an add on Kijiji (Canadian version of Craigslist) saying I was "looking for our next great tenants that will treat the house like their home, must be non smokers, good references, a rental budget of at least $X etc..)". We get a lot of replies but one that stuck out, the tenants messaged me because they had to move soon as their landlord was selling their house. After speaking to her for a bit and made sure that I would want to work with them, I asked her what the address was in case I was interested in buying it. In fact it was a great house and if they could stay they definitely would want to. So we put in an offer and it took about a month and a half to negotiate it down to what I was willing to pay for it. In the meantime we were getting to know the tenants well and really liked them. Long story short the sellers finally accepted my offer and I resigned a 2 year lease with the tenants who got to stay in their home and I was also able to increase their rent to market value. They were so happy they didn't have to move and are excited about us being their new landlord as it seems the sellers prior were not keen on making any upkeep or simple fixes to the home.

@Account Closed I love your report card idea! Do you have a sample you could post?

@Cailyn Aune where I invest there is very high demand and low supply which is great for us landlords. Most of the time I actually find my tenants first from Craiglist and work with them to find a house we both really love based on them matching my criteria first and buget. For our second rental property we loved 2 homes the same so we offered to get the tenants we had chosen to help pick where they would like to live between those 2 options. No one has done that for them and they have been amazing and loyal and also view this as their long term home.

I have had very good luck with finding a tenant first then making sure we are all on the same page and then searching for the home together.

Being able to offer them the ability to go through this process together has solidified  our relationships and all of them are still in those homes.

Granted all of them were also good deals and the cashflow is awesome especially since it starts day 1-3 as they just move right in. 

I also give them a cake that says welcome home or a small gift basket for the family.

For me, It is about knowing your tenants before they even become your tenants and as you get to know them and work together they will have a whole new view on the process and will want to be the best tenants ever since we gave them an opportunity they would otherwise not get.

I also allow pets as it is not the pets but the tenants that care or don't care for them that will ruin or upkeep the property. I haven't had any issues with pets since the tenants are responsible and take care of them.

@Steve R. haha good point!

I don't pay the water bill nor the water rental

@Tony Ho great question as mine as all SFH I am curious if you get the same with MFH tenants