1.8% Rent Increase Allowed for Ontario Landlords in 2018
1.8% Rent Increase Allowed for Ontario Landlords in 2018
• multiplex – FOR SALE 1279000 CAD . Income Property
in Downtown London, London
A very solid 12-plex in good condition. All 11-2 bedrooms renovated within the last 3 years including new kitchens, fridges & stoves. Bathrooms have new tub surround, fixtures and vanity.
New vinyl flooring throughout. Building has new windows (all but 2).
Bachelor unit not in use.
Separate meters, security cameras & controlled entry .
Tenants pay own hydro, separate meters, Coin-op laundry (owned).
Ample parking and on direct bus route.
Some Numbers: $120,900 income based on 3 units at $825 and 8 units at $950.00 plus utilities
For the last 12 months, $3763 Heating, $3695 insurance, $6,380 water and hydro, taxes $23,864 = $37,702
Just so you know, if you can’t find London Ontario income properties that you want, have you considered other alternatives in finding the right one for you?
Remember, you may NOT be seeing all properties for sale with the email notifications from the other various search websites you may be registered with. For example:
I have access to properties for sale that are not listed for sale on MLS (Property owners have asked us to help them sell, but there’s few days lag time before they are searchable on MLS or they are doing a few bits of tidying up)
I do not just sit around and wait for properties to become available for sale, I’m a hunter.
Are you spending countless hours searching the MLS, real estate magazines, weekend classified ads and real estate websites looking for the ideal home for a great price and in a great neighbourhood in London Ontario?
If you enjoy doing that, great. Are you aware you may be missing out on some great homes that sell in a day or two or a home that was priced quite so agressively that it sells as soon as it comes on the market or on a specific street?
Do you think you will get a head jump on others by searching daily or weekly? Avoid paying commissions? Avoid a pesky or bothersome real estate person (don’t blame you)?
Or, perhaps you are curious or you are in the ‘just thinking stage’ of real estate. Perhaps to purchase or sell.
Regardless, real estate changes, people change, neighbourhoods change, real estate markets change and the motivation of buyers and sellers change.
So how do I, as a real estate professional, as a Broker of Record and Owner keep you, the curious, the maybe, the must have by the end of the month, the retiree, the downsizer, the upsizer, the DINK’s (double incomes,no kids), the tire kicker, deal maker, bread winner or just plain ready to move informed about real estate in London Ontario?
My asociates and I view a lot of houses and condos every week. We do loads of searches daily for clients, we are constantly researching properties, even For Sale By Owners.
My tastes are different than yours, my taste in neighbourhoods, price affordability, style of home, school district, what side of the tracks, how close certain amenities are and I bet, hundreds more.
As professional house hunters in London we know the jungle, the alleys, the streets, avenues, crescents and can guide you on the right path to ensure your purchase is wise & financially sensible.
“Love it or Leave It” London Ontario’s Only Home Buying Guarantee
If you obtain a home through Sutton Group Envelope Real Estate Brokerage and you are not 100% pleased with it, we will sell your home for you for FREE! We offer this guarantee within the first 24 months after you purchase the home.
We want you to be totally satisfied with your home and will do everything to get you into a home that you will love…Guaranteed!
We are confident that we have the ability to listen to you and to being dedicated in finding the “Perfect Home” for you. We take 100% responsibility; we offer no excuses and no finger pointing.
That’s why we are willing to work for FREE if your home isn’t everything you expected it to be. You have nothing to lose,
There is some fine print and here it is:
This home buying guarantee excludes commercial properties, investors & students.
You won’t have to jump off any cliffs, scale any mountains, wrestle a crocodile, put up with a pushy real estate salesperson, cross-eyed lawyers, impotent mortgage lenders, near sighted home inspectors, all you have to do is put up with me!
I get calls or emails everyday about fixer uppers in London Ontario. It is usually after someone has watched reality shows on TV or read a get rich quick book with no money down or a book about how easy it is.
What if you bought a fixer upper to live in for a few years and then repeat the process?
What about a couple who are handy or even want to be handy and who do not have to keep up with the Jones’s for appearance sake? Instead of buying that $200,000 or $300,000 home with the finished basement, nice schools, close to work, 2 car garage and then busting your butt to ensure all your monthly bills are paid? And, hoping that your home will increase in value in 5-10 years.
What about the couple who buy a small home outside the city for cash or 5-10% down, are prepared to drive a bit to get to work and have a 1-2 year plan to fix the place up and sell it and repeat this 4-5 times in 10 years?
Look at the math. Instead of a $1000 plus going to interest every month, you buy something where that interest goes perhaps $600-$800 goes to fixing your place up. after 1-2 years you sell it, you may earn $10,000 plus but lets say you only net $15,000? That’s low but stay with me here.
You do that 5 times or more? If you compared the couple who has had only one house after 10 years, mortgage poor or to keep up with their friends, go deeper in debt and get a bigger home, or the couple who uses their sweat equity and common sense after 10 years?
I have 14 couples now who followed this plan and let me give you 3 scenarios:
Are the above 3 different than most? Yes. you see, they are willing to pay the price in time, effort and ego to build their financial stability. Now, at the end of the day, 10 years from now, who is living the good life?
Is it easy? Safe? Nope! Is it wise and financially prudent? You bet! So I ask, do you have what it takes or are you going to go through the rest of your life in debt and looking well off or no debt and feeling well?
How to Turn One London Ontario Rental Property Into a 7 Figure Retirement Fund
In my various meetings with different families, I hear many express concern over their retirements. Many are worried that they won’t have enough saved to retire.
This is pretty scary considering how many years we work throughout our career.
To help with this challenge, I just finished a new report detailing how you can turn just one rental property into a 7 figure retirement fund.
You can download this new PDF report here:
In this report, you’ll learn how to:
Needless to say, this IS a powerful report and is definitely worth studying. You can access it now on my site here:
Be sure to study what happens if you follow this plan for 25 to 35 years! You’ll be able to leave a fortune to your family!
To truly change your life, you need an asset that throws off regular, monthly cash. That might mean something like a real estate property paid off in cash.
If you are renting out a $225,000 property that you own in cash, you could very reasonably have $1,400 coming in per month that you get to use to make stock market investments. Do this for a couple decades, and you are going to benefit from rising rent cheques that give you even more money to invest, and then the investments from years gone by start to throw off meaningful income all of their own, allowing you to spend your life constantly taking incoming cash and making fresh investments.
At that point, investing is an art form. It’s a lifestyle.
You’re not playing the lame game of trying to beat the S&P 500 by a point here or a point there each year, but instead, you are laying the bricks of a financial fortress each month as you create a perpetual income machine that lets you build a collection of assets that keep on generating cash.
Successful real estate investors in London Ontario and area understand time as a trusted ally and use time to build wealth and as a yard stick for their decisions.
Every week I get calls and emails from wannabe investors whose main criteria when asking me about properties in London Ontario is how much is the rent collected and comment that they want or need more than that. Makes sense when you think about it and if that was the main criteria for buying properties, you can now understand why some struggle and give up.
Compounding and time work for the wise real estate investor. They understand that positive cash flow, even if it’s a few hundred dollars on a duplex or triplex over time, adds up. They understand that monthly their tenant is paying down the principle on their mortgage and there is even the possibility that the property increases in price overtime, therefore, building what I call quiet equity.
Real simple isn’t it? Yet, because it is simple, we as humans like to complicate things!
Yes there are risks in investing in real estate but 99% of the time you have control over your investment, you can see it, touch it and not some fund manager you will never meet & who gets a piece of your pie before you do or ‘your financial advisor’ who makes money off of you, even if you don’t!
Yes, there are ‘stories’ about flippers, deal makers and get rich quick people but in the real world, time balances everything out, even the tortoise and hare understand that!
Make time your friend, we all have the same 24 hours, some just use it better than others!
If you own income properties in London Ontario, you probably have had a few tenant woes in the past or have heard of war stories about problem tenants, and in most cases these stories involve losing time and money.
Most rental property woes have a common theme. The common theme from every story or problem is:
Selecting the Wrong Tenant.
The 80/20 Rule, also known as Paretto’s Law, states that for many events, roughly 80% of the effects come from 20% of the causes. In rental real estate, this means that the majority of problems come from a very limited number of factors.
I would actually take this further with rental real estate and say that 95% of problems come from selecting the wrong tenants.
I googled “How to find and screen tenants” and found 592,000 searches on the topic, yet some landlords keep having tenant woes and if you do, do you not think it is time to change how you do things?
That is the problem with information and how to’s, it is readily available but most don’t know how to implement the how to how-to! (Try saying that fast)
I had one landlord say to me that paying $20-$25 for a credit check is expensive! What does 3 months cost of trying to end a tenant residency?
Consistent tenant woes are like being overweight, you don’t get fat overnight! Eating a cheese burger and fries today will not make you fat overnight but overtime, it will. The same with a tenant, lack the discipline and the ‘how’ to screen tenants and the only weight loss you can expect is a lighter wallet and if you keep it up, you’ll lose sleep as well!
I should point out that some tenant woes are quite valid with some landlords & fortunately for me, those landlords do not read blogs, wash behind their ears or ask me to help them with buying or selling properties in London Ontario.
Maximizing the Value of Your Investment Properties
Most investors who want to sell any of their income properties in London Ontario and area, want to sell for the absolute highest price that the market will pay. That is not usually the case though.
Canadian statistics show that properties that sell the quickest sell for the most money!The very same elements that make a property sell quickly also make the property sell for the most money. But few investors know about these essential elements, let alone most sales people. And,as a consequence, unknowingly, sellers are leaving money on the table at closing, or wasting time selling their properties.
And time is money!
In years of working with income properties, I’ve learned a few things on how to sell income properties quicker and for money.
One of the tools I developed , I call “Top Dollar, Fast Sale Investment Property Audit.”
This audit is not like those simple market statistics Realtors or appraisers give you. It’s a complete audit of your property, from top to bottom, revealing the elements that affect a full price and a quicker sale.
Here are a few items covered in this audit
There’s one more thing! There is absolutely no fee for this, you are under no obligation what so ever and you do not have to sign anything.
Whats the catch?
I get an opportunity to meet you and see the property, you are able to evaluate if I’m full of s**t or not and if we both think together that we can market your property and sell it, then you may hire me. If not, you get some insights you may never ever get and I go away empty handed and ride off into the sunset!
I know there’s a tendency to put this aside and “think about it later.” But every minute you spend time “thinking” and sitting on the fence can end up being a pain in the butt
You have thousands of dollars and valuable time to gain …and absolutely nothing to lose by calling me at 519-435-1600 now. I look forward to hearing from you. Don’t give your hard-earned money away needlessly
When owning London Ontario income properties, good landlord habits will make a huge difference in your bottom line.
Become a wise investor in London Ontario income properties by adopting these points in your long range plans, these ideas have been used for years by some of the the most profitable landlords ever! They are real simple and yet, choose not to follow them at your own peril!
Not having the right person to help is a common prognosticator of faulty investing. When investing in real estate, you require more than just the average Realtor to find and close on the best properties. Just as there are physicians who have a general practice in medicine you also have specialists.
“It ain’t what what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”