I would suggest that you work out of your home as to not incur any unnecessary overhead, acquire your first property(s) and see where it takes you.

I am working with a partner and we have a possible deal to purchase @ 2 acres of land with a relatively new double wide manufactured home in one corner of lot.Our idea is to purchase this, if the numbers work out for the right price and get a tenant into home for cash flow.

Hi all,

Im seeing everywhere on BP about the 70% ARV but mostly in the US.

Wanted to know if that really works out in the GTA?

Thanks.

Figured it would work out with the original contractor.

Easier access to houses, a nice office to work out of, MLS access, earn commissions (or save on commissions), networking with other Realtors.

If you have any problems, just follow the lease and landlord tenant laws and everything should work out.

If your holding period was a cycle and a half or longer (in the US cycles typically last 7 - 12 years) and you could hold on through the down cycle things would probably work out fine.On the other hand if your holding period has to be shorter then it may not work out.

It may be a problem for those that are used to going to the office to pay, and if that's the issue, you could probably work out something to make it just as convenient for them as it was before.

I agree with Andy.Filing money with the court shows PROOF that you are not taking partial rents or doing a workout with the tenant and that you want full payment and nothing else.Here in GA if you take a partial payment the judge's sometimes see that as doing a workout with the tenant.

It did not work out.