We added value by re-doing the whole house, installed vinyl floorings, rebuilt 2 and a half bathrooms, re-painted the whole house, replaced all the hardware in the house, installed new lighting, ceiling fans, re-painted the kitchen, and completely remodeled the upstairs.

Their taxes are paid up through 2023.

If you're not working with a local agent to help you screen tenants...I would say the best way to get as many eyes on the property is create marketing material - add to local FB groups and host 2 consecutive open house weekends showing a model unit and amenities.If you're close to any University Campuses - I would also suggest to partner with the university for housing opportunities for upperclass students.Good luck with filling those up!

Growing up around mismanaged rentals is always a good formula for shenanigans!

Hopefully we can meet up if we take on this portfolio All the best and thanks for reaching out

Are you based here in Ottawa or in Nova Scotia?

Hey BP community,I recently purchased a SFR property in the Piedmont Triad area of North Carolina where I plan to replace the first-floor chimney with a bathroom (toilet, sink, vanity, stand-up shower).

Yes, there are a lot of people who spend less than they make and have a surplus.There are others who are inheriting wealth from othersBut there is another subset that we often forget: those who have equity in their homes.Much of the equity has built up due to a runup in home values since 2020, which allows these people to use a HELOC to purchase a home for cash.When rates were low there was a group of people who were using Hard money to purchase and rehab buildings and then refinancing at the end this was the BRRR strategy.Hard Money is not an option these days since the cost of refinancing at the end of the project is too expensive.So when we see people paying cash, it is often pent-up savings and HELOC money that people use, and not as often Hard Money.

But read up on fair housing laws, (don’t say no kids allowed) or something like that.

Even with the equity built up on my current property it would not be enough to put 20% down on something comparable.