Quote from @Celine Besson: Hi everyone,We recently moved from Memphis, TN, to Montreal, Quebec.Before leaving, we planned to invest in a small house, renovate it, and rent it out (Ultimate goal would be to BRRRR).

Given the lack of activity / buyers in the market at this time with rates, would you reccomend holding and renting it until the market is better to sell in? 

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

 - recognize you are combining 2 if the highest effory rent models: student rental and rent by room. 

The tenant had until 1/6/25 to pay the back rent or move out and did neither.

Always gonna be a whole bunch of cheap old houses with a whole bunch of people on Section 8 ready to rent them.

Is it better to keep adding equity by doing work on the houses while I'm renting them then refinance to recover the initial down-payment to reinvest into another property or to pay down the heloc?

Hey Nithin, one of my client's closes today on a next gen home that they plan on renting out the separate unit.

Are the units vintage quality with in-place rents $500/mo below current market?  

Cleveland, Baltimore, Toledo, Indy etc....You will see net population decreases in most of these areas but these are the areas where the prices are the lowest in the USA and come with rents that are very high when compared to the sales price.