Love that you found this deal by taking massive action - Most people wouldn't have taken the time to spark up a conversation with the neighbors to figure out the status of the property.

Looking to my wife’s happiness and what’s best for our future family has been a huge guiding factor in my thought process.Yea I have kind moved away from the idea of being an agent or broker, though I may get my license at some point just to have personal access to the MLS.I do really prefer more personal face to face conversations so I like your advice about looking for local meet-ups.

It's also a bit more difficult to have those tough conversations when he makes mistakes or is taking too long to finish something.Either way, it's been a great learning experience that'll help me make more informed decisions on the next one.

Conversely if I do a cash-out refi, I'd just have 2 loans?

Conversely, I DO NOT have a hard limit for credit scores and income, and I think that is a dumb way to choose people.

My fiance and I are looking into first investment in Ontario.I work in Etobicoke, so I am trying to find our first investment property not too far from work - preferably within 100-150km.Here is the breakdown of what we can afford:Current posesed cash: 200kpre-approved mortgage: 600kI am currently thinking of duplex conversion in Hamilton, so I can BRRRR.

And this is a different conversation entirely.

Hi Everyone, Happy NewYear.Anyone doing single-family conversions in Peterborough?

@Anthony Gayden I'm going to dabble in that.Thanks for the replies everyone, let's keep this conversation rolling. 

Based on my conversations with the agent, it seems he is either using residential property evaluation to come to a purchase price and doesn't understand how commercial properties are valued or he's basing the sale price off the proforma valuation.We've gone back and forth and the agent doesn't think the seller is going go lower than $475K.