I've signed up for three real estate courses this summer. Commercial real estate, real estate law and mortgage financing are the courses. I need them to maintain my license.
Two courses are online and the third requires a couple of days off vacation from work. I would have preferred to use my vacation differently, but I'll live with it.
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I'm working on my Stittsville house. We have done the landscaping, started the painting, and pulled up the carpet.
I am painting the whole house from top to bottom. I'm also putting new carpets throughout the rooms that had carpets previously.
We are also finishing a room in the basement to produce a extra bedroom or office.
The deck got painted today because of the nice weather, but hopefully the inside will have some rooms done in the next day or two. That way, I can send a carpet guy in.
More updates to come.
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In my last post, I talked about how I was going to rent again. Well, plans have changed again. The individual who was supposed to show up with cash today messaged me last night to bail. To be honest, I am not surprised. When it comes to business, I try not to count my chickens before the eggs hatch.
I don't want to sound too much like Kevin O'Leary, a dragon on CBCs Dragon's Den, but it seems that, in business, only money speaks to me. I only trust that someone will move into a home if they put up the money. I've come across too many people that like to make big promises, yet they often fail to deliver. I've begun to ignore the promises and have only listened to currency.
Thankfully, I have not been burned by anyone yet. Today, I was still able to move ahead with plans to spruce up the house for sale. The tenants still possess the house until the end of the month, but we've found a painter and went shopping for some new light fixtures. I'm hoping to have the clean up done by mid-June. Wish me luck!
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Just when I thought I was going to stop trying to rent my Stittsville house, one of the people I was going to rent the house to has come back.
If you've been following me, you might be wondering why I keep changing my mind. I change it because I really do not know where I would like to move to next. I can't decide between downtown or close to work.
Each of my choices have pros and cons. My usual five year outlook doesn't give me any additional clarity. I figure I might have a better idea after the summer.
The renter will sign a one year lease so I can try renting for a year and try selling a year from now. With the market appreciation and low interest rates, I would be wise to remain fully invested.
I meet the guy on Sunday to sign. So, there's still lots of time to change plans again.
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The washer broke down in one of my downtown units. It was in the unit I lived in. I believe it used to make a lot of noise when I lived there.
I suppose I had two options. First, I could have hired a repair guy. Now, I can only assume that he would have costed me $100 or more for just showing up. I would have to pay extra for any parts. I didn't think this was a great option. The washer was also likely older than I was. It looked like I should get a new one.
My other option may have been to buy a new used washer. I decided to go brand new. First, I get a warranty with a new washer. Next, the tenants are more appreciative of newer objects. Finally, I was able to get a pretty cheap model. The cost was about $350, so not that much more expensive than what a repair might have costed. With the warranty, it was a no brainer.
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I've been busy lately with my properties. I've had showings at my place in Stittsville as I am trying to rent it out. At least, I was trying to rent it.
It will have been available June 1.
Instead, I've decided to test the market. I think I can use the proceeds from the sale in a better way in the future, so I think its important to maximize my returns.
I've got to do some touchups before listing, since it had been rented for the last four and a half years by the same tenant. I need some paint, some carpets, and a couple of other things.
The sale of the house will allow me to reduce my total debts. This will make me more appealing to banks and will allow me to have more flexibility in my own living arrangements.
Stay tuned.
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So, when I hurt my back I decided to go and get that new phone I wanted. I ended up getting a new iPhone 4 from apple and I love it!
I am hoping with the extra convenience I will have more posts on my website. I figure whenever I have some downtime out of the house, I can simply write by using my phone.
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Brad Lamb is a well known Toronto real estate developer who has started to make a name for himself in Ottawa. He is probably best known for the Mondrian building in Ottawa.
http://lambdevcorp.com/mondrian.php
On Thursday, May 5, he is having a release party for a project dubbed Gotham. This is an excellent opportunity for investors to get involved early in the project. As more units get sold, the price usually goes up. At a recent claridge release party, claridge had increased their prices by $30,000 after one day. I'm interested to see what the opening prices will be for this property at Gloucester and Lyon.
http://lambdevcorp.com/gotham.php
This property is being constructed with a green standard. A unique feature for all patios will be a gas hookup. This means BBQs!!! This is a rare feature. The only way to get to this event is by invite, so let me know if you want to go!!!
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