Multi-Unit residential and single family homes

Last night, I attended another Ottawa Real Estate Investor's Organization (OREIO) meeting. They had two guest speakers. The first was Ken Beaton, a specialist that invests in multi-unit residential buildings. The second individual was Peter and he discussed owner single family units.

These meetings I attend are very important because they offer great advice and tips when it comes to properties. It also gives an insight as to what kind of returns the bigger investors are looking for when they see a property. It also gives an idea of some of the expected costs that you need to budget for, for each property.

For example, for a multi-unit residential property, depending on the age of the property, the average cost per unit/door should only cost in the neighbourhood of $400-800 annually. This amount would include painting and upgrades as needed. It also shows you the need to be able to budget and create a plan for your investment. Without a plan, you are shooting aimlessly at your investment opportunity. If you need help with that plan, or know someone that does, I can certainly help point you in the right direction. It's important to base a lot of your decisions on the numbers involved.