All Forum Posts by: Samuel Sedore

 Fully agree with the comment about hidden gems, the astute investor can make a profit in any market! Have you seen the videos of those 2 brothers who flip houses in Detroit, they pick up a lot of properties under 1k. They do well but it's not for the average person.

I have met flippers who crush it Thunder bay also.

The issue with those areas is that it's much more difficult to turn a profit, in say Hamilton or Kitchener, you could of overpaid for a terrible property 3-4 years ago and with the high appreciation we have seen you now look like a genius. Were in those slow markets you need to really be on top of your game, or you can get burned quick.

no was not aware of this to that detail! 

Send me a link I want to study this.

In regards to smoking there is actually a statute to legally evict tenants for break a no smoking rule. A PM I know from Hamilton has won in court. It's a little complicated but you basically have the building classified as no smoking and the government signs off on it.

I think leases are BS in ontario anyway, they are barely enforceable, and you have little if any legal recourse against the tenant. Minus affecting their future ability to get accepted into a unit.

Which in most cases is not enough for them to care. 

The way the laws operate now a tenant can basically get out at anytime they want, the 60 day notice rule means nothing. You generally get 30 just because they wouldn't want to waste that last month deposit 

If they truly banned showings, I would just happen to be having 20 30 electricians and plumbers inspecting that unit the last month for repairs with 24 hr written notice posted on the door every day at 5.

http://www.ontariotenants.ca/research/rent-increase.phtml

 Not sure if you invest in Ontario mainly but we can only increase rents in accordance with the CPI increase, in most cases your rents will be below market with any long term tenants after about 2-3 years. Specifically in Cambridge market, I rented out my duplex last year and average rents have climbed 50-100 for similar units. I can only increase mine by 28$ legally

it really only makes sense for the news to report doom and gloom right? Anything posted by a major media publication is already designed to sway an opinion in one way or the other.

What would generate more buzz and votes, an article saying rich landlords have life easier or, greedy landlords trying to force evictions on poor unsuspecting tenants.(extreme example)

I don't see how its argument for ACORN that they will make evictions to easy, if the tenants are not paying rent or obeying rules what right do they have to live there? 

Last time I checked the government won't let people smoke in their building without major recourse, or go without paying taxes, so how is it fair tenants can do that to landlords?

 More than anything that record low 9.3% would scare the heck out of me. Technically speaking 1 in 10 people you pass on the street don't have a job. It's not good fundamentals to buy in areas not exceeding or staying par with provincial averages

I love that this a topic of discussion! lol

Don't make your girlfriend sign a lease, unless you want to end a relationship then by all means.

Never bank on students! Missisauga and Brampton are great for appreciation as claude mentioned they are on a tear, IE over 10% year on year appreciation.

Although I grew up near those areas and changed my market as I found cash flow basically impossible, the appreciation is fantastic though if you can stomach the carrying costs

Hmm me and a colleague are actually working on a spreadsheet for such an application. Takes into consideration your income-tax along with the financial breakdown to determine a more realistic IRR along with a lot of other info.

To be honest 99/100 Realtors will not be very familiar with these things so you will have a hard time data mining.

You seem like a sharp guy! We should schedule a coffee, I wouldn't mind picking your brain and offering up any realty advice I can provide.