Randy

I'm a:	Home Buyer
Location:	Vancouver

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Randy's Questions (2)

Randy's Answers (3)

We own a home in an HOA community next to some renters. They are destructive, noisy, tear things up all

Asked Thu Jun 12 2008, 14:36 by Rl - Avondale - Quality of Life - 12 answers

Randy answered:

It might also help to document the problems. Keep a log of events -- not only disturbances but your correspondence with the owner, tenant, HOA, etc. Also take photos of the common areas so you can demonstrate extent of damage. Will certainly help your case if you have exact dates and times of events, photos, etc. - Fri Aug 8 2008, 13:59

Rules of thumb when estimating cash flow?

Asked Sat Aug 2 2008, 07:35 by Randy - Phoenix - Market Conditions - 3 answers

Randy answered:

Thanks Tonje.

What about repair and maintenance costs -- any rules of thumb on that? For my condos up in Canada, I figure $150/month is sufficient. This usually covers the odd plumbing bill, touch-ups between renters, and a leaves a contingency for eventual replacement of carpet etc through attrition.

What about on the rental revenue side? Seems like the areas I'm looking in are renting for between 75 cents and $1 per square foot. So a 1,000 sq foot condo might rent for between $750 and $1000/month. I know there are A LOT of variables and each property is unique. I'm just looking for some general benchmark figures.

On the finance side, I plan to buy all cash using equity on existing properties in Canada. Rates in canada are around 5% which is a bit cheaper than in the US. Plus it's a lot easier as I already have access to the funds via an equity line of credit. - Sat Aug 2 2008, 10:16

We plan to buy a home in the Phoenix area, rent it out for a while before we are ready to used it for winter

Asked Sun Jul 6 2008, 16:36 by Michel Brise… - Phoenix - Home Buying - 21 answers

Randy answered:

Hi. I'm also a prospective buyer from Canada. I appreciate the advice from you real estate pros! Much appreciated. The difference between me and the person who asked this question is that I don't want/need to use the property. I just want to rent it for cash flow and capital appreciation.

Just wondering if anyone wanted to comment on the pros and cons of seasonal/short-term rentals versus traditional year-round leases? I'm thinking seasonal rental seems like a lot more work, more fees and costs, and more risk than a year-round tenant. Comments???? - Fri Aug 1 2008, 20:03

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