Howdy Neighbour

OK. I've had another brain wave. I have to thank my real estate agent for this one. Jeff called me the other day to let me know that he has recently sold one of his properties. He had just purchased it, but decided to flip it as he was going to turn a nice little profit.

The downtown market is still hot. There are parts of the city where housing prices are certainly cooling off, but the downtown core is where it is at. This is where the brain wave comes in.

I'm going to visit my neighbour. The home that I purchased is a semi-detached and it yields a nice return on my investment. The rental income is great. I even end up with some positive cash flow on a monthly basis. This is fairly rare in the real estate world. Real estate is very cash hungry. It takes a lot of cash to make any money.

I want to visit my neighbor to see how much he is willing to sell his half of the house for. I'd like to know because having the whole building will be much better than just one half. If I wanted to do some work to the exterior for example, I will not have to consult with my neighbour about performing the repairs.

Now, I know I do not have the money right now. I'd have to sell my house in Stittsville. Although I've had it pretty good with the tenants, I want to maximize my investment by getting deeper in the downtown market. I'd hope that I could sell the house in Stittsville and use the proceeds to purchase the house downtown. There are a lot of steps required for this to happen, but I suppose it wouldn't hurt to at least communicate with my neighbour about the possibilities of him selling. I think it is simply another rental property, so hopefully he doesn't mind taking some profits off of the table.