Posted by CJ on February 19, 2003 at 04:42:29:
Thank you
Help Please - Posted by CJ
Posted by CJ on February 18, 2003 at 11:00:48:
this house is 113 years old needs both bathrooms redone and the house needs to be painted inside and out has aluminim siding by the way needs new windows also it has 5 big rooms and 1 room with 650 square feet for commercial use office space. I would rent the rooms for $300.00 and the office space for $500.00 The seller has had it forsale for 2 years he is a doctor and moved away so it has been for sale for two years and said he will take resonable offer the asking price is $99500.00 I live in canada by the way so that is cdn dollars
On a side note is anyone interested in buying any canadian real estate let me no…
Thanks for you help
Cj
Re: Help Please - Posted by ray@lcorn
Posted by ray@lcorn on February 18, 2003 at 12:31:25:
CJ,
What’s the question?
ray
LOL yes the question - Posted by CJ
Posted by CJ on February 18, 2003 at 14:51:15:
My Question is has anyone ever taken a bigger home and rented rooms and if so how well of an investment was it? What problems… I mean I get $300.00 per room per month thats 5 x $300.00 equals $1500 per month plus office space for $500. per month that equals $2000.00 per month minus mortgage and utilites. What do you think if I bought this would it be a good investment?
Thanks sorry about the first post
CJ
Re: LOL yes the question - Posted by ray@lcorn
Posted by ray@lcorn on February 18, 2003 at 19:38:30:
CJ,
What you describe is to me a high maintenance, high turnover investment. If you’re the hands-on type, handy with tools, good with the public and a strong collector, you can do well with such a property. It will be more like a business than real estate.
If you’re looking for a property that can be absentee owned or fee managed for passive income, this isn’t it.
If you pursue it, I would imagine Canada has zoning, yes?.. better check the permitted uses under the existing zoning before going any further.
ray