All Forum Posts by: Samuel Sedore

@ OP: BP is pretty anti-fortune builders. I joined Mastery in March. I've been to a few live events since then and my business is growing much quicker than a friend that also attended the 3 day event but didn't join Mastery. My friend decided to go the internet research route. Some people on this site don't understand what FB Mastery is all about. They tell you that you can find all the information that FB Mastery teaches on the internet, which is probably true. But then you have to consider what your time is worth and how many hours you'll spend researching different opinions, veting the sources, etc. To me time is precious since it's the one thing that we can never get more of. I spent my money on my education to learn proven systems from Fortune Builders Mastery. As a results I now spend my time doing deals instead of spending my time trying to learn the basics and chasing internet "experts". I'm sure I'll get bashed for this post from the anti-FB crowd but if you'd like more real info feel free to message me.

***All statements based on my personal experience. I do not receive any recognition or compensation for any of my statements nor is there any referral program offered by the company. I post because of how much FB changed my life and want others to have the same opportunity to change theirs if they choose. Your mileage may vary.***

@Samuel Sedore

How is the cash flow in Kitchener these days?I analyzed some properties back in the beginning of this year.Duplexes were selling close to 350k with estimated rent close 2k per month. That was coming close to 0.5% rule.

I would love to hear if you come across some good opportunity in terms of long term rentalike

Send me an email I can give you some examples, I don't send out anything with less than a 8-10% gross rental of purchase price. I generally don't look at anything more than 150 per unit and the market  does not support  cash flow at those rates. 

Statistically both rooming house and C-D tenant base are much higher management intense. Usually the rooming house and C-D tenant go hand in hand. The rooming house scenario is usually operated with a minimum of maintenance, only bare minimum in maintenance and repairs. This is part of why it has a higher return. Students would be your safest option in Barrie as opposed to welfare which is the most common other option for rooming houses. Barrie has a large student rental opportunity but it would be best to rent the entire building to a group of students as opposed to renting by the room. Still more work but much safer investment for the landlord. I personally will not rent to welfare tenants for many reasons not the least of which being the government has deemed them "untouchable" in regards to collections.

The absolute best scenario in Ontario for a investor to operate a rent by room situation is for the owner to live in and share the facilities with other tenants. In this scenario the "tenants" do not fall under the jurisdiction of our Provincial landlord tenant regulations. As such the owner can actually put the tenants on the street without any notice. In effect the tenants of a rooming house shared with the owner have zero tenant rights.

Geoff:

We've been incorporating energy efficiency measures into our retrofits for a few years now.  Most notably we have begun bringing EnerPHit measures into our retrofits.

While we often have a property evaluated pre and post retrofit (Canada uses EnerGuide testing/rating which is similar to a HERS rating) we do so to quantify our implemented efficiency measures and track their payback.

Lenders here have been slow to provide products either focused on or that reward the undertaking of significant energy efficiency measures.   Likewise, truly energy efficient buildings are sufficiently rare {our building codes, like yours are weak in this area} that there is a poor understanding of them in the market and, at least in our area, they do not  necessarily fetch a higher resale value.

Similarly, as  buy and hold investors (landlords), greater energy efficiency does not automatically lead to greater rents, but we are seeing evidence it lowers tenant turnover.