What's the point of having assault rifles?

What you gonna use em for?

Defense? They aren't called defense rifles for a reason?

Protection vs government? Don't make me laugh. Bringing a gun to a drone fight..

2 good jobs and alot of cash! to buy a 1 bedroom condo aahaha we are approved for about 700k which is more than we are probably comfortable spending. looking at about 600k or less, and as i say it would be for rental.

Based on my projections rent wouldn't quite cover all-in costs, but it would be close enough that the equity gain on the mortgage would be a pretty nice return.

havent had much issues

youll get complaints but i think im pretty lucky with who weve got

basement tenants have been there since early 2016, upstairs moved in when i moved out in december 2017


i guess just make sure you communicate with them and try to fix the real issues when they come up. dropping by once a month doesnt hurt either and ensures that stuff looks good.
gf says to have a lease that has everything and anything you can think of

This post was edited by partank on Mar 20 2018 01:30pm

i got until May to decide if i wanna keep my investment or sell, renting out my 1bedroom apartment and tenants contract end in July.
apartment went from 330k to 525-620k, so im gonna get fuckin taxed heavily in the future when i decide to sell it from capital gains tax,
unless i sell my current home and move back into the apartment in july then sell it to avoid the capital gains tax.

just make sure u give ur renters 2 month notice, not sure if tor laws are samezies as van
interview ur renters too, prolly a given but ye u dont want no sketchy homies. Usually those rich ass asian kidss studying abroad are good candidates, their parents send em $$$$$$$$$$$$$$$$$$$$$$ so it's like np getting paid properly/stable etc.

This post was edited by Secksii on Mar 20 2018 01:32pm

I've been a landlord for like ~2.5 years now. My Tenants are amazing, but it took a lot of showings to find the right people to rent it to. That was the part I found the most exhausting personally, was constantly returning emails, texts, calls in order to set up showings. Lots of people showed up to just look around and get an idea of what they could rent for the price range (this was frustrating to deal with), some would look and then offer $200/month less to rent "long term" which was also annoying to deal with.

If I could offer two pieces of advice, first would be ensure they sign a thorough contract. Dont leave anything out, the biggest concern for me was that I'd end up with some idiot who would try to sub-lease it. Ensure things like this are mentioned in the contract. The other would be dont rent it to anyone unless you feel very comfortable. I personally held out, had people offering to rent it but waited until I found people I trusted. It worked out well for me, they've been in the place for 2.5 years now and I havent had any issues (knock on wood).

E: Also ensure you look up the tenancy and landlord acts in your province, it will outline a lot of the rules. Make sure you know what you can and cannot do.

This post was edited by GSG on Mar 20 2018 01:35pm

my gf also made some backround check thing where it states how much they make, where they work, contacts, etc. she found the upstairs people which are great

our downstairs is friends of friends. so think about that too, always great. our new house were renting out the basement to friends of friends as well. thats always preferable to me imo

Yes, that reminds me -- there's great rental applications and other documents on the RentFaster.ca website. I paid to use the service to list my house, which also got me access to some of the documents I used.

I didnt actually do credit checks on the people I rented to, basically I confirmed employment with their employers and contacted their previous landlord. Made sure to use "main" numbers for the businesses listed so that my renters couldnt give me a friends number.

This post was edited by GSG on Mar 20 2018 01:41pm

Thanks guys glad to hear lots of you are already doing, it Certainly gonna wait for a good tenant, i've already factored a few months of vacany into my projection in order to account for time to find good renters will certainly be targeting young professionals and families over students and couples over individuals, we want tenants that are like us, been in out place 3 years, reached out to the landlord maybe 3-4 times and all for small issues. we love our space so we respect it.


Dad is a lawyer and though he doesnt do landlord shit they have a practice that is specifically for condo boards, so i have access to people who know all the local tenancy laws.

Things i am more concerned with are things like taxes the biggest wrinkle in my projections thus far was realizing i had to pay tax on the income from rent before my net income on the property and realizing that the principal portion of my mortgage is not a tax credit.

I'm also concerned about hidden closing costs. I've thought about the land transfer, and some time with no occupancy, i dont need mortgage insurance as we are going to pay down 20%+ but how much did you pay in legal fees(plz daddy give free) and other closing costs?

I know we are in different markets (except partank and even then a little) but generally have you found being a landlord to be more fiscally rewarding than other investment avenues? How much time does property management activity actually take up once you have a good well vetted tenant?

ill have to check the closing costs but i believe it was around 10K in total possibly a little more, some may not apply since i had land transfer tax and what not for a house, not sure how different it is for a condo. i could probably check later in my files if you want the exact number

i bought back in 2016 just before the housing market exploded so right now the tenants pay for the mortgage plus a little more, and my property value continues to increase. thats the reason why i kept it when i moved to a different house.
not much time at all. i was there once in january to change the furnace filter, once in feb to see issues with a fridge and thats it since december 1st. it is good to check in though just to see theyre not doing something that they shouldnt be.

This post was edited by partank on Mar 20 2018 02:06pm

Senators captain Erik Karlsson and his wife, Melinda, have lost their child, who was due in April, Ottawa announced Tuesday afternoon