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Old 2011-03-24, 10:24 AM
mj3tots mj3tots is offline
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Hubby and I have been thinking for years about dabbling into real estate investment for various reasons including tax planning. We have heard about horror tenant stories as well as relatively problem free properties.
Does anyone have any experience/advice about this as far as what area to buy (we've heard to look for properties in areas with lots of universities eg Waterloo/ Kitchener area) and also what kind of property(condo/townhouse/detached). Generally, we need advice as to what to do and what to absolutely not do.

Thanks all.
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Old 2011-03-25, 10:29 PM
Toukolou Toukolou is offline
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Quote:
Originally Posted by mj3tots View Post
Hubby and I have been thinking for years about dabbling into real estate investment for various reasons including tax planning. We have heard about horror tenant stories as well as relatively problem free properties.
Does anyone have any experience/advice about this as far as what area to buy (we've heard to look for properties in areas with lots of universities eg Waterloo/ Kitchener area) and also what kind of property(condo/townhouse/detached). Generally, we need advice as to what to do and what to absolutely not do.

Thanks all.
This is definitely NOT the way to go. Unless you like damaged property, calls from neighbours/police etc...KW is not bad, but I wouldn't be targeting the uni crowds.
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Old 2011-03-28, 07:23 PM
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good2know good2know is offline
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Our approach is to get smaller properties in great condition and market to couples starting out, seniors downsizing, roommates (all on lease)

Two bedroom 2 ensuite properties work great for this, and so do small towns

If you have a high tech, military, govt sector then singles with 2 or 3 year tenancies work well.

Biggest roi is on furnished places - easily twice the rent for small incremental cost.

I wouldn't touch a student res - too many risks plus high turnover.

Run your numbers carefully - house values have gone up much faster than rental rates in Ottawa market conditions, and rental rate increases are tightly controlled.
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Old 2011-05-01, 09:52 AM
thisischris thisischris is offline
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Definitely no students. You will have frequent turnovers. When I moved I rented my first home. It is 1700sqft townhouse. It is rented to single mother with a few kids. They pay utilities. For the past year and a half pretty much all I've had to do is cash post dated cheques. I would look for a small family for sure. Try to get a sense if they are looking for a place to stay for a long time. I had a 1 year lease and signed up for a second.
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