Groceries

Old Jul 20th 2015, 3:54 am
  #271  
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Default Re: Groceries

Originally Posted by BristolUK
I think you could say he has

Purely from a financial POV - the bare bones - they could probably lose the disability income, just have their wages, rent somewhere in NB and have more cash left than presently.

If JS doesn't mind me saying, there are a few other complications though, such as proximity to other family and medical issues which make a move to a different province problematic.

And those two places look nice but something nice can be had for a fair bit less too.
Is that Bristol offering a place to JS for lower rent, if so, then its sorted [me as the landlord would] as long as 12 months rent is paid in advance a bargain discount can be worked out

As a landlord would you take twelve months lease payment up front at a reduced rate... example, 10 months rent paid up front for 12 month lease?

As a renter, would you pay 10 months rent in full up front for a twelve month lease?
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Old Jul 20th 2015, 4:09 am
  #272  
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Default Re: Groceries

Originally Posted by not2old
Is that Bristol offering a place to JS for lower rent
Both units occupied now

As a landlord would you take twelve months lease payment up front at a reduced rate... example, 10 months rent paid up front for 12 month lease?
Ignoring the illegality of it, probably yes with today's high vacancy rates, no until a couple of years ago.
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Old Jul 20th 2015, 5:30 am
  #273  
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Default Re: Groceries

No Frills has a good sale on pork tenderloin and ribs so I bought a pack of each. I may go back for another since it freezes so well.
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Old Jul 20th 2015, 8:38 am
  #274  
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Default Re: Groceries

Originally Posted by BristolUK
I think you could say he has

Purely from a financial POV - the bare bones - they could probably lose the disability income, just have their wages, rent somewhere in NB and have more cash left than presently.

If JS doesn't mind me saying, there are a few other complications though, such as proximity to other family and medical issues which make a move to a different province problematic.

And those two places look nice but something nice can be had for a fair bit less too.
from post 269

maybe JS could look at going with something along the line of the following in St John NB?..... just saying

As an example, a duplex for $29.900 (link below), live in one half & rent out the other. With $6,000 down the outgoings for the mortgage is $111/mth, taxes $100/mth, utilities $150/mth = $361. Renting out one half with the owner living in the other half they'd have free accommodation plus some cash flow. Money at risk is minimal, ROE is not too shabby.

52 KENNEDY Street , SAINT JOHN, New Brunswick E2K1C4 - SJ151363 | Realtor.ca
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Old Jul 20th 2015, 8:31 pm
  #275  
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Default Re: Groceries

Originally Posted by not2old
from post 269

maybe JS could look at going with something along the line of the following in St John NB?..... just saying

As an example, a duplex for $29.900 (link below), live in one half & rent out the other. With $6,000 down the outgoings for the mortgage is $111/mth, taxes $100/mth, utilities $150/mth = $361. Renting out one half with the owner living in the other half they'd have free accommodation plus some cash flow. Money at risk is minimal, ROE is not too shabby.

52 KENNEDY Street , SAINT JOHN, New Brunswick E2K1C4 - SJ151363 | Realtor.ca
Assuming it's in good shape, and not in the worst part of town, doesn't seem too bad, although I know nothing about that area.....
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Old Jul 20th 2015, 10:41 pm
  #276  
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Default Re: Groceries

Originally Posted by Jsmth321
Assuming it's in good shape, and not in the worst part of town, doesn't seem too bad, although I know nothing about that area.....
That's the difficulty with Saint John. These things are often relative - in Moncton, for example, I'm minded to say there is no worst part of town. Just one or two parts not as good as the other parts. Certainly nothing like large parts of Bristol one wouldn't want to live in or not feel comfortable walking around, in daylight as well as after dark.

But I have read of many ramshackle rentals in Saint John and when I was considering the place before Moncton became the target, the areas I was warned off were never easily defined.
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Old Jul 20th 2015, 11:09 pm
  #277  
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Default Re: Groceries

post 275 & 276

I suppose so, then again its all relative - relative to how much money you have, where you want to live & work, what kind of rents one can get renting out half the duplex.

Moncton duplex below

28 FLEET Street , MONCTON, New Brunswick E1C1R9 - M12531 | Realtor.ca

maybe the 3 bedrom unit would fetch $850/mth

at a cost of $70,000 with 20% down ($14,000) a mortgage would be approx (source TD Bank)

For a 25 year mortgage for $56,000.00 at the rate of 2.84%, your Monthly payment is:
Mortgage Payment:$260.44
Insurance Payment:$0.00
Total Monthly Payment:$260.44
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Old Jul 22nd 2015, 7:08 am
  #278  
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Default Re: Groceries

Originally Posted by Jsmth321
Assuming it's in good shape, and not in the worst part of town, doesn't seem too bad, although I know nothing about that area.....
Thats in a dreadful area of SJ....I deliver regularly just up the road from that place.
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Old Jul 22nd 2015, 7:13 am
  #279  
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Default Re: Groceries

Originally Posted by not2old
post 275 & 276

I suppose so, then again its all relative - relative to how much money you have, where you want to live & work, what kind of rents one can get renting out half the duplex.

maybe the 3 bedrom unit would fetch $850/mth
That rent would be about right but it is a question of what sort of tenants would want to live there and that location.
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Old Jul 22nd 2015, 8:30 am
  #280  
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Default Re: Groceries

Alex @ post 278 & 279 thanks for the input & feedback

Are you saying the rental on that 3-bedroom duplex Moncton in post #277 is not a good investment or just that 'the unknown shady' tenant & location as you mentioned?

Since you live in the Moncton area, what about this expensive duplex in Riverview in the link below - for investment purposes only, what kind or rents could be on that one?

38-40 WATERFALL, RIVERVIEW, New Brunswick E1B3C4 - M11458 | Realtor.ca

or the Triplex/duplex on the other side of the river?

http://www.realtor.ca/Residential/Si...unswick-E1E1J5

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Old Jul 23rd 2015, 10:01 am
  #281  
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Default Re: Groceries

Loblaws to close 52 unprofitable stores across all their banners.

Loblaw Plans To Close 52 Unprofitable Stores Across A Range Of Banners
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Old Jul 24th 2015, 5:26 am
  #282  
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Default Re: Groceries

Originally Posted by not2old
Alex @ post 278 & 279 thanks for the input & feedback

Are you saying the rental on that 3-bedroom duplex Moncton in post #277 is not a good investment or just that 'the unknown shady' tenant & location as you mentioned?
I was not trying to say that it was a bad investment as such. However it is likely to have issues with regard to the location, the tenant that it would attract and that the building itself appears to be at least 30 years old. They dont really build houses that well in these parts. I would think long and hard about buying an older house here. This is of course all subjective to what you want from an investment.
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Old Jul 24th 2015, 5:38 am
  #283  
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Default Re: Groceries

The one in Riverview is in a much better location but it is an older building. Its selling point is that it is very close to a k - 5 school and not that far from Riverview high school. I would say that it would fetch $800 -900.

The one across the river is in crap area. It also backs onto a petrol station, car wash and Mcdonalds.

Those types of property are not particulary attractive rentals when there are plenty of new build semi and duplex units in the nicer parts available for 900 -1200 per month often with stainless steel aappliances etc. Which one would you choose??

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Old Jul 24th 2015, 6:25 am
  #284  
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Default Re: Groceries

Originally Posted by Alex2201
Those types of property are not particulary attractive rentals when there are plenty of new build semi and duplex units in the nicer parts available for 900 -1200 per month often with stainless steel aappliances etc.
Yes, as a landlord you'd be more interested in tenants who wanted better, although if you were "in the business" of renting you probably wouldn't care so long as the profit was there.

Originally Posted by Alex2201
The one across the river is in crap area. It also backs onto a petrol station, car wash and Mcdonalds.
I'm not overly familiar with that area. Looking down some of the side streets from that part of Main, some places look a bit shabby. But "taking a trip" along the street that property is on (google streetview) and the surrounding streets, it all looks perfectly nice, just not that much in the immediate area.

With people insisting on driving everywhere, though, I'm not sure that's seen as a disadvantage.
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Old Jul 24th 2015, 6:56 am
  #285  
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Default Re: Groceries

Originally Posted by Alex2201

Those types of property are not particulary attractive rentals when there are plenty of new build semi and duplex units in the nicer parts available for 900 -1200 per month often with stainless steel aappliances etc. Which one would you choose??
one which has the best return on equity with minimum investment.

For example, lets say there is a duplex in the right part of town that cost $200k with 25% down ($50k) with a gross rent for each half (tenants pay their own utilities) $1000/mth x 2 = $24,000/yr. Minus cost of mortgage, property tax & maintenance

source TD bank (below)

"For a 25 year mortgage for $150,000.00 at the rate of 2.84%, your Monthly payment is:
Mortgage Payment:$697.61
Insurance Payment:$0.00
Total Monthly Payment:$697.61"


Monthly mortgage - $697.61

Property tax - $200

Maintenance & building insurance - $102

Total cost in round numbers = $1000 x 12 = $12,000

Yearly Income gross $24,000 - cost $12,000

Net income $12,000

Investment $50,000

ROE = 24%

On the basis the units are occupied 50% of the year, then it would be a zero return on investment equity other than the costs are covered & that the mortgage is slowly being paid down. Alternatively, the owner could live in one half & rent out the other, which provides the owner rent free living.

Various options, various models based on price, area & rent

Alex from MLS.ca are there any specific areas in Moncton you see that you as an investor would buy a Duplex or triplex - if so, what kind of property prices are you seeing & the rents that are on those?

what about the few below?

http://www.realtor.ca/Residential/Si...unswick-E1C6G2

http://www.realtor.ca/Residential/Si...unswick-E1C7B7

http://www.realtor.ca/Residential/Si...unswick-E1C4G9

.

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