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Any real estate investors here? Flippers or landlords? Index funders?

Hey. I have a rental condo in Toronto. Property value went up by 120k but there is a bad side to it to.

I only charge my tenant 1200 bucks a month in rent.
Rent in the area skyrocketed up to about 1700 for fair market rent in the past 4 years.

By Ontario law I’m only allowed to raise the rent by 2 percent or less per year.

If I evict her to get more rent it’s illegal and punishable by up to a 25000 dollar fine.

I gained over 100k in property value but I lose in monthly cash flow. I could sell the place though. I’d rather hold on until she leaves on her own.
 
Steven_Universe said:
Hey. I have a rental condo in Toronto. Property value went up by 120k but there is a bad side to it to.

I only charge my tenant 1200 bucks a month in rent.
Rent in the area skyrocketed up to about 1700 for fair market rent in the past 4 years.

By Ontario law I’m only allowed to raise the rent by 2 percent or less per year.

If I evict her to get more rent it’s illegal and punishable by up to a 25000 dollar fine.

I gained over 100k in property value but I lose in monthly cash flow. I could sell the place though. I’d rather hold on until she leaves on her own.
Click to expand...


Bro that sucks. I bought one of my places just over 100k and rents out to nearly 1600/month. Your tenancy laws favor more the tenants in there. What i would do is offer cash for keys. Give them a months free rent, pluse 1000 bucks. Rehab the place a bit and either refinance to roll into another property and up the rent.
 
babyjay said:
I posted this question 2 years ago

http://forums.sherdog.com/threads/rental-property-vs-stock-market.3403111/

Basically asking index funds vs rental properties

I do both now. Index funds, rental properties and flipping. Anybody else in this space? My take is real estate KILLS index funds, but im still parking in index funds.
Click to expand...

RE has been the best asset class for a long long time now. Plus it is a real tangible asset instead of some made-up notion of ownership written on a piece of paper.
 
Steven_Universe said:
Hey. I have a rental condo in Toronto. Property value went up by 120k but there is a bad side to it to.

I only charge my tenant 1200 bucks a month in rent.
Rent in the area skyrocketed up to about 1700 for fair market rent in the past 4 years.

By Ontario law I’m only allowed to raise the rent by 2 percent or less per year.

If I evict her to get more rent it’s illegal and punishable by up to a 25000 dollar fine.

I gained over 100k in property value but I lose in monthly cash flow. I could sell the place though. I’d rather hold on until she leaves on her own.
Click to expand...

You guys have some kind of rent stabilization laws there too. In NYC we have similar law. But there are ways to get around. First every vacancy you get 20% vacancy allowance. And then if you do certain dollar amount of renovation, you can increase by certain percentage proportionally to the amount. Once you get the rent up to certain amount, you no longer need to follow guidelines for increase. You can jack it up 1000% if you want.
 
Steven_Universe said:
Hey. I have a rental condo in Toronto. Property value went up by 120k but there is a bad side to it to.

I only charge my tenant 1200 bucks a month in rent.
Rent in the area skyrocketed up to about 1700 for fair market rent in the past 4 years.

By Ontario law I’m only allowed to raise the rent by 2 percent or less per year.

If I evict her to get more rent it’s illegal and punishable by up to a 25000 dollar fine.

I gained over 100k in property value but I lose in monthly cash flow. I could sell the place though. I’d rather hold on until she leaves on her own.
Click to expand...

Ya ontario laws are so fcked when it comes to tenancy. Had heard so many stories of ppl getting fcked over.

At least you're not a dick landlord tho. And she lucked out.
 
Steven_Universe said:
Hey. I have a rental condo in Toronto. Property value went up by 120k but there is a bad side to it to.

I only charge my tenant 1200 bucks a month in rent.
Rent in the area skyrocketed up to about 1700 for fair market rent in the past 4 years.

By Ontario law I’m only allowed to raise the rent by 2 percent or less per year.

If I evict her to get more rent it’s illegal and punishable by up to a 25000 dollar fine.

I gained over 100k in property value but I lose in monthly cash flow. I could sell the place though. I’d rather hold on until she leaves on her own.
Click to expand...

Turn off the heat
 
I’ve been wanting to invest in RE for a decade and I’ve been consuming a ton of information about how to do so while stacking money.

I can finally say it’s a real possibility this year. Wife and I have a nice sum of liquid capital and excellent credit.

Funny thing is now that I’m in the position to invest in getting apprehensive. We have a very comfortable, low stress life and we are building wealth and would certainly retire fairly wealthy if we just stayed the course. Investing in rentals would expose us to a lot of risks that we otherwise could avoid. Obviously there are the ny laws that totally favor the tenant so we risk not getting paid or getting sued. But I’ve also seen numerous true crime shows where landlords were killed by their tenants over disputes. Throwing a family out on their asses can cause people to lose their minds....and if they happen to be psychos you could have a vindictive violent element looking for revenge.
 
10 years? What are you waiting for? Ive bought 2 rentals with my own cash, pulled it out and buying a 3rd without any money left. Essentially recycling the same money over and over. You know what stops people from entreprenuership? A good life. Everything is cruising nicely, family is good, job is good. But thats it, just good.

As far as your concern with tenants, screen, screen and screen again. Make them jump through hoops during the application process. Make them meet you at this time, have them fill out papers by this date, have them meet you again at a certain time. Now you know you got responsible tenants.

Make a move
 
MadSquabbles500 said:
RE has been the best asset class for a long long time now. Plus it is a real tangible asset instead of some made-up notion of ownership written on a piece of paper.
Click to expand...
Over the last 30 years the market has far outpaced RE. You can't live in your portfolio so RE definitely has advantages but it is far from the best asset to own from an appreciation standpoint.
 
Liquid Smoke said:
Time for bed grampa. We have metrics for measuring post quality now.
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My hulkhogan leg drop and boston crab trumps any of young whippersnapper jew jizzu. I couldve entered the ufc when i was younger but i stubbed my toe
 
Liquid Smoke said:
Over the last 30 years the market has far outpaced RE. You can't live in your portfolio so RE definitely has advantages but it is far from the best asset to own from an appreciation standpoint.
Click to expand...

From an appreciation standpoint i completely agree. But i dont invest in appreciation. If it happens its icing on the cake. I put my money in forced appreciation and return on investment. I have investors that invested 120k on a flip, my return to them is 10%. Within 3 months i tossed them back $12,600. We're on track to do 5-6 flips with those investors alone.
 
babyjay said:
From an appreciation standpoint i completely agree. But i dont invest in appreciation. If it happens its icing on the cake. I put my money in forced appreciation and return on investment. I have investors that invested 120k on a flip, my return to them is 10%. Within 3 months i tossed them back $12,600. We're on track to do 5-6 flips with those investors alone.
Click to expand...
Flipping is a totally different beast. That's sweat equity. If you got the skills and the knowledge to pull that off, props to you.

babyjay said:
My hulkhogan leg drop and boston crab trumps any of young whippersnapper jew jizzu. I couldve entered the ufc when i was younger but i stubbed my toe
Click to expand...
LMAO! Prime Royce Gracie would have choked that jabroni body builder cold.
 
babyjay said:
10 years? What are you waiting for? Ive bought 2 rentals with my own cash, pulled it out and buying a 3rd without any money left. Essentially recycling the same money over and over. You know what stops people from entreprenuership? A good life. Everything is cruising nicely, family is good, job is good. But thats it, just good.

As far as your concern with tenants, screen, screen and screen again. Make them jump through hoops during the application process. Make them meet you at this time, have them fill out papers by this date, have them meet you again at a certain time. Now you know you got responsible tenants.

Make a move
Click to expand...


Well first five years I was broke. Next two years I was clearing debt, funding wedding and honeymoon, last 3 stacking dough.

I don’t want to be highly leveraged and I want to do it right.
 
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