How to set the rents right

How to set the rents right What is the right rents to be set for a residential rental property? There are many ways to do it. In this article, I will share what are the common ways to set rents that might limit the true potential of your investment, what are the best way based on the sound principles and years of practice, and how to do it step by step. Firstly, below are the most common ways to set up the rents by manyPick a number…

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Case Study – How Garage door repair job went bad

Case study - How "a garage door repair job went bad... What have been learned from it Brief backgroundThe garage door came with the original house (built in Year 2002?). Was being hit once by a drunk old handy-man, not in best shape. The tenant's father did fix a few months ago The lady (tenant) called in May 2020, was not working again Quick note: the lady has habits of over-exaggerating/being dramaticThe time consequences and key notesIssued the work order to Mark door works on May 14. Received note from Mark…

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How to connect with your tenants truly

How to connect with your tenants truly To be a true winner as residential real estate investor, one will need to master how to to connect with the tenants truly. In this article, I have shared the 11 steps from beginning to the end of this exciting journey. Enjoy!It took me many years to realize the true title of "landlord", like any other professionals, need to be earned. One of the most important traits to set the awesome landlords from the rest is how he/she connects…

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What does “20/80 Rule” truly mean in Real Estate?

What does "20/80 Rule" truly mean in Real Estate? We all hear "20/80 Rule"often. It loosely means a small portion among a defined group (~20%)  contribute (or take) the total results that the rest of 80% can do combined. I often wonder if this rule also applies to the residential real estate field. After many years in it, my answer is a resounding "YES"! In this post, I will share with you the why, what, and how. Firstly, the"Why" - there are many ways to invest…

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How to communicate effectively with Condo board/Property managers?

Where was the $378.00 invoice from? How to communicate with the condo board/property manager effectively? To work with a condo board/property manger, one needs to be extremely clear and keep good record to avoid any confusion. Here is an experience we have to demonstrate what could happen if one does not. A few months ago, one tenant called in to report that there was no hot water in his unit. He is living in a condo building. As a precaution, we called the property manager who was…

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Q107, When should I receive the 24-hr advanced notice and how does it work?

How do home visits and advanced notices work? There are two scenarios when we need to access the properties. non-emergency and emergency. No emergency cases include, not limited to, the following: 01). various inspections to ensure our clients enjoy the home safe and sound. the examples of such inspections are: 1. The first home visit within the first week after you move in, 2. 1-3 times of annual safety inspections 1-3 time safety inspection 3. Maintenance-related access (with the exceptions when you choose to stay at…

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Condo Investement – A Dare Prediction to 2037

Let's mark the date - March 20, 2019, is the date this record happened. For more about this article on CBC "Don't have a hope - Edmonton Condo Sales Slump Drags on" - Click here for the article I happened to work on my newly developed model to guide my personal investment. To test it out, I plugged all the numbers as close as I can, and what I concluded that in around 2037, this property should be back to the break-even status if the owner…

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Run as fast as you can

Run as fast as you can For the post in mandarin, click here. For the talk on you-tube, click here) For many investors, especially the ones who are just getting started. Condo style rentals are normally the top choice on the selection list. The advantages are many. To name a few Cheap - easy to get one without breaking your bank.  Hassle-free - once condo fee paid, no worry about the grass cutting, snow removal, etc.  Great location - most of the condos are snazzy looking…

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跑得越远越好

跑得越远越好 (click here for English version, Click here for the talk on you-tube) 为什么投资人应该谨慎投资公寓(condo rental) 有很多刚开始做民用住宅房地产投资的投资人来讲, 投资公寓单元 (condo unit) 看起来是个不错的选择. 有很多显而易见的好处可以信手拈来 价格便宜 - 上手比较容易,不需要很多启动资金投入。 麻烦少 - 交完管理费后,割草除雪都不用操心 黄金地段周围的设施很吸引人,交通方便 管理容易 - 出租房客入住简单,维修含量很少 正如每一个陷阱, 从表面上看他很吸引人,甚至是完美无缺。公寓楼单元投资,也并不例外。从表面上看似简单时髦,省劲儿, 一旦你深陷其中,再想脱身恐怕为时已晚 这里就跟大家分享一下为什么,你应该尽量远离公寓投资的三个主要原因 极有可能非常差的长期增值空间 命中注定, 少或者是负的现金流 快速让你美梦变噩梦-时间越长,结果越惨 下面就跟大家简单解释一下 - 为什么会这样? 首先判断一个民用房产投资是否值得的三个重要因素是 第一, 未来的增值空间。 第二, 现金流的强度。 第三, 长期持有的指数增值 首先能够让房产长久增值的真正关键原因实际上是土地. 从这一点你就能看出来为什么公寓楼投资先天不足的一个重要原因 - 缺乏土地的含金量。导致了将来任何可能的增长空间缺乏强有力的支撑 第2个重要的投资关键因素是现金流,很多了解我的朋友都知道,我喜欢用母鸡下蛋来做比喻下的鸡蛋,就是现金流,这个母鸡胖一点瘦一点,其实没有太大的关系,只要能够保证每天的鸡蛋,就会有细水长流的收入。对于公寓出租房来讲,一般有两个严重的问题会影响你的正常现金流的收入。 (01). 第1个问题就是供大于求,由于公寓房极易建造,大规模增投入进市场,你随时和成千上万的不同公寓房在竞争,这样竞争下来的结果就是房租下降租客得利,而你就是受损的一方。 (02). 第2个问题就是永远在增长的管理费。这其实又是一个公寓楼的致命问题,这是他的机制所决定的,无法避免。这有一点儿像共产主义的概念一样,从理论上讲听起来非常好,但在实际操作中问题很多,甚至根本无法实现. 永远捉襟见肘的房租,永远增长的管理费,你就可以想象你的现金流将会是多么的惨淡 最后简单提一下,长期持有的指数增长力度 对于一个好的房地产,持有的时间越长你的时间叠加,指数增长力度就会越强劲; 反过来如果这个投资产品先天不足,时间越长你输的越惨。 公寓投资有一个一开始你看不见的隐形杀手,三五年以后他就会露出他的狰狞面部,这个杀手的名字叫特殊筹款基金 (Special assessment). 不是想吓唬谁,它到了一定的程度,你真会感觉到那种叫天天不应叫地地不灵的悲惨境状... 简单的总结一下。公寓投资表面上看起来很光鲜,我劝投资人尽量远离,原因有三个: 长久增值乏力, 现金流捉襟见肘, 隐形杀手,暗处在等你... 所以我建议跑的越远越快越好,别怪我没提醒你哦

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