All Forum Posts by: Sarah Larbi

Thanks Luc! :)

Hi Steven Zahanov , It depends... why are you choosing London? If it's just the price point then I would say no... My advice is that you look at the fundamentals of London. For example, is it bringing people and jobs to the city, new transportation, who will your tenant base be? If it is student rentals do you know if it's saturated? What is the vacancy rate? Average household income in London? What rent will you be able to change (ps it will be lower than toronto so what would tour cash-flow look like?) Being near you and buying a little further away myself as you are looking to do is not a bad thing but lower prices shouldn't be your only factor to consider. Hope this helps!

Hi Alex Friesen and welcome! First I want to congratulate you for thinking about your future in a non JOB perspective. However just keep in mind that if you haven't yet started based on the goals you have of 12 properties in one year that may be far fetched but still possible but most likely it will take a bit more time. You are doing the right thing by joining a network of like minded individuals. Be patient enough not to just jump in blind and educate yourself as this is not a get rich quick game and it does take time. Luc had some great suggestions that I would second,... and start identifying markets you want to become an expert in.

I had a tenant ask me the same thing and being in Ontario I am actually happy they asked for our approval before going ahead. Their doctor has approved them for medical marijuana and the paperwork they have to send to the government is quite detailed and time consuming so they asked for our blessing before going ahead. They were approved for a maximum of 10 plants and have specific guidelines they have to abide by. We called our insurance to see if it would make a difference they said as long as they follow the guidelines and approvals they were fine and our insurance is still fine. Also they sent us the paperwork for our file and the tenant is ok with us doing additional inspections to ensure it is being grown by guidelines etc The house is still fine, 10 plants is not hundreds and no damage has been noted

Hi Patrick Kwan , Dan Tetzlaff is a great broker in Ontario who works with many investors. PM me if you want his contact info.

When you factor in utilities are you referring to hydro, gas etc? You may want to see if it's customary to pass that cost into tenants in your area. Should be the case especially if it's a single family dwelling.

Just to add the condo fee may cover some of that so yes you want to clarify what that covers

Hi Terry Fisher My recommendation is that you use conservative numbers and ensure they are all there. For example if you have a month vacancy per year that's 8%. What about factoring in CAPex (capital expenditures), annual maintenance, management fees ( even if you will self manage maybe one day you won't do you should add those) etc Feel free to PM me if you need more help with this. Good luck :)

Amazing podcast!

Hi Cristiana Pires I believe you got some great feedback above. You may as well keep 100% and just hire and pay someone to do the work. There is not much value for you with this set up and it swings in his favour way too much. Unless he can find you an amazing deal himself why would you want to finance and pay for it all? This is not a deal I would do. I will gladly give you free advice if needed. And I am sure many of us will too. Good luck!