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Old 08-08-2013, 03:17 PM   #16
daytona
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Sirex there is work for up keep but not for when they dont pay the rent,clog up the toilets every other month,telling them a guest staying overnight a few days is ok but stay a whole month.Landlords arent all rich,some just needs the extra income to take care of other bills.Slum landlords are a rare breed these days since the LT board was created which many professional scum tenants abuses,would I recommend investors to buy a condo and rent out these days I say no,sqft downtown is going for close to $600 and property values aren't increasing fast enough,add in property taxes,condo fees,and capital gains at the end of the year its not worth it anymore,semi detached maybe ...I agree with Sirex do some other investments for better returns with less money upfront and less headaches.
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Old 08-09-2013, 01:50 AM   #17
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Originally Posted by daytona View Post
Sirex there is work for up keep but not for when they dont pay the rent,clog up the toilets every other month,telling them a guest staying overnight a few days is ok but stay a whole month.Landlords arent all rich,some just needs the extra income to take care of other bills.Slum landlords are a rare breed these days since the LT board was created which many professional scum tenants abuses,would I recommend investors to buy a condo and rent out these days I say no,sqft downtown is going for close to $600 and property values aren't increasing fast enough,add in property taxes,condo fees,and capital gains at the end of the year its not worth it anymore,semi detached maybe ...I agree with Sirex do some other investments for better returns with less money upfront and less headaches.
I think I agree with you on this one, but what about buying a cottage and renting it out during the season?
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Old 08-09-2013, 08:10 AM   #18
Bullet Ride
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I think I agree with you on this one, but what about buying a cottage and renting it out during the season?
That's a bit safer of a route because if you can't afford to pay your rent, you definitely can't afford to rent a cottage. Also with a cottage you typically have to pay the full amount up front as well as a damage deposit sometimes, it's not like you can stay at a cottage for a week then dodge paying the owner.
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Old 08-09-2013, 09:25 AM   #19
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I've got a Semi detached that we rent out - luckily had an amazing tenant for the past 3+ years. There isn't a ton of cash flow from it monthly, but someone is paying down a mortgage for you and property values increase, so overall, it's a retirement strategy.

As for the video, I know people who rent to section 8 in the US - the landlord wasn't very smart. 90% of the section 8 rentals that I've seen with these 2 people that I know are NO WHERE NEAR as nice a place as he rented out. Should never have taken section 8 for a nice place...
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Old 08-09-2013, 10:04 AM   #20
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His fault. Why would he ever rent to a person on welfare ?
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