I have been seeing ideas for investing in a laundromat.

Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

It’s always a good idea to document the conversation too, even if it’s just jotting down the details for your records.If they don’t take the warning seriously, you’ve got options.

Franklin Home Store and Vacasa are 2 local ones I found with a quick google search and I have no idea what they charge.If you want to consider the self-managing route, DM me and I can walk through the details.

If you have questions or simply would like to brainstorm ideas about cohosting, MTRs, or real estate investing from a regulatory standpoint, feel to reach out!

Additionally, when underwriting deals, you need to account for the general idea that repairs and maintenance will be a larger percentage of your rent, the lower your rental is.  

No matter where you settle upon, your idea to build really comes down to your goals.

We think we can break even with a conventional sale but have no idea.

With discounted notes, it will be "Investment to Value" (ITV) rather than LTV, but the idea is similar.

Even if it works, it's a bad idea as I see it.