In Canada, the 5 Big Banks have the most outstanding mortgages and foreclosures.If the banks dumped all the foreclosures on the market at once, they would destroy the collateral on their remaining good mortgages.For that reason, the banks Control the (slow) Flow of Foreclosures into the Calgary Real Estate Market.One thing to remember about Foreclosures - Foreclosures are not a property type, it is a Seller Type.Better to find MOTIVATED SELLERS than chase foreclosure sellers in Calgary.

If you run background checks on the existing tenants you would likely find outstanding warrants and felons and maybe even sex offenders (depending on the location).

*100% occupancy Revenue would be $64,800, but with unpaid rents, evictions, etc. he collected $35,962.50*Expenses: $24,053.07 (Insur $4,830; Maint $6,745.03; Tax $12,069.70; Util $408.34)*NOI: $11,909.53There are outstanding rents owed on 6 of the 8 units...but I don't know the story yet (a $7,105.12 eviction; b $1,350; c $675; d $4,450 vacated; e $7,545.38 eviction; f $8,152.50 eviction)Current rents are $675/unit and should be around $800-850.CAP Rate appears to be 7.00 based on other properties listed in the area.

Both options 1 and 2 sound horrific. 7-8 points is highway robbery. 

If so, I'd reach out to their HR and ask if they have any employees looking for a new rental.Rental Signs:  It appears to be located off a highway, I would post a For Rent sign to help attract drivers

I invest off highway 58 near Webb and have been happy in that area.

He has been outstanding and I have no reason to look elsewhere.He's not licensed in GA however so I'm still looking.

@Sam Bates outstanding, good resource.

It's at least 1.5 hours to any major city and there are no major highways- depressed local demographicPros:- Great opportunity for vacation rentals or sales- low market pricing (rising)- growing population (new commercial and residential construction throughout the town)It is a bit difficult to do research in this area from afar since it's so isolated and small.

I have some questions about qualifying for another mortgage when I have outstanding mortgages on investment properties.So here's the scenario:I am purchasing a Quadplex on 6/28/2024 and it's new construction.