Thepropertyinvestor

Thepropertyinvestor Helping clients build security and income through rental properties.

When people don't understand the difference between investing and gambling!
08/10/2020

When people don't understand the difference between investing and gambling!

Good advice for anyone planning theme park visits.
07/29/2020

Good advice for anyone planning theme park visits.

True story!
07/15/2020

True story!

06/12/2020

Office, Prices and Gambling

05/20/2020

All of these properties with DUPLEX potential are on the market today from $375k to 499k. Message for the full list

05/07/2020

All of these Hamilton properties are for sale for less than $350k. Message me using the button below for a GENUINE list of possible investment properties in your area.

05/07/2020

I'm getting a little fed up of seeing ads offering me lists of propeties below $5, alongside photos of million dollar homes.

A thank you from an absolutely terrific investor client. The deals are still out there. Stay safe everyone.
05/07/2020

A thank you from an absolutely terrific investor client. The deals are still out there. Stay safe everyone.

04/26/2020

NOT ON MLS - I have a possible lead on 7 unit property in TO, just off Queen St and the Gardiner, 5 mins from Lakeshore. Midway through renovation and the owner needs a quick sale. I have no way of verifying the information. but the owner says he has a appraisal for $3.7m when completed, and he needs to sell for a minimum of $2.65m. If you have any interest please get in touch with me directly. Only buyers please, no agents, and you will need to sign a buyer rep agreement (covering that one property only) to get the property details. Thanks, Stuart.

03/23/2020

Okay, I've had quite a few questions on the topic, so I'll try to do a brief outline here.

If you are a landlord right now, you are likely to take losses on your rental income. You still have the same legal rights, but no practical way of enforcing them. The sooner you accept that the better.

The best route for landlords at the moment is to talk to your tenants. Try to understand what position they are in and what they can reasonably afford to pay right now. Banks have publically stated they will consider mortgage deferral but no confirmation if that will apply to rental properties. Get in touch with your bank ASAP.

It's worth making sure your tenant understands that as a landlord there is currently no support for you, the bill's have to be paid and any mortgage deferral has to be paid back with interest.

Some people are currently in a position where they cannot make rent, but they will be able to apply for EI and other support for the government. That means their ability to pay will change. Again, keep talking to your tenants to understand what is reasonable for them.

If your tenants are not willing to work with you and do not pay rent, you may need to consider documenting this and writing to them (registered) requesting they get in touch. Absolute last resort would be to send an eviction notice, bearing in mind this cannot be enforced so it's really just to set up a paper trail for future action.

Keep track of any unpaid rent, there may be future government support that you could claim against.

Finally, I fully and completely understand that it's going to be a tough time financially to be a small landlord. Please, please remember that the majority of tenants who strugle to pay are good people, going through a very tough time. We're all on the same side here. Act accordingly.

Feel free to DM me or post any other questions.

Stuart

A little more evidence of how crazy the market is this year. Excellent investment opportunity in downtown Hamilton with ...
03/10/2020

A little more evidence of how crazy the market is this year. Excellent investment opportunity in downtown Hamilton with good comps. Listed for $279k with an offer date - sold 9 days later for $420k.

The price was a surprise, I was looking at mid to upper 300's, but the main takeaway is that the price investment houses are listed at is NOT the price they will sell at.

Anyone looking to compete in this market needs to have financing in place, the ability to quickly and accurately estimate renovation budgets and most importantly, works out their offer price by finding the likely selling price and working backward without taking into account the listing price at all.

It takes a while to get your head round, and if you want some help, message me and I'll be happy to set up a time to walk you through your options.

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