Congrats on renting your first property, Stuart!

Remodeling homes into something distinctive and desirable, like entertainment-centered properties, can definitely set you apart in the rental or short-term rental market.

I suspect they won't be able to make it and being a new landlord, don't have any experience with this aspect of property management.

Hello BP Community,My name is Patrick Belanger, and my wife and I (both engineers turned entrepreneurs) havebeen investing in Edmonton and the surrounding communities since 2013, buildinga 32 unit local portfolio of single family homes, duplexes, garage suites, andsmall new-build multifamily (6 and 8 unit properties).

I sold my rental property to buy my current condo and am available to help investors build & grow their portfolios.

I got interested in real estate investing last year and since then have read several of the BP published books on real estate.I still have a lot of unanswered questions floating in my head but my goal is to buy my first property and some point next year. 

It can vary based on the neighborhood and the property's condition, though.

---------------------Let’s say I know of an industrial property with a few tenants that is negatively cash flowing due to a combination of mismanagement and below market rents.

So in theory you could take the 80k and then 1031 exchange the 15k into another property and defer part of the gain.

Purchase price: $1,435,000 Cash invested: $3,010,600 Sale price: $8,400,000 We identified multiple lots around the light rail system in WA, where we felt that properties are going toincrease in value significantly, these lots were re-zoned from SFH to multi-family (MUR35mostly), we have developed, permitted and starting to build: 8849 Midvale Ave N, Seattle – Two combined lots, zoned for multifamily where we built 12 townhomes