Anyone that has been reading my articles knows I love a regular home with a suite or a duplex property, and for over a decade I’ve been pretty faithful to these residential investments, but recently I have had my attention fixated on a more alluring beast, and that is multi-family investing (apartment buildings) and I have to say, I have a new obsession. It combines my favourite two aspects of real estate, Cash-flow and Value-adding, except it puts both on steroids. Now before I start, many people may have already checked out after reading the headline. Apartment buildings? That’s out of our league, or that’s too risky! I’m here to challenge that limiting belief. For starters, obtaining a mortgage on a building that has been run like a business for years…

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1. Take Pets – It always amazes me how few landlords are willing to take tenants with pets. There are two main reasons why ALL my rentals are pet friendly and full for that matter. For starters, tenants with pets have very few choices so not only does your phone ring off the hook from a carefully crafted ad with “Pet Friendly” in the headline, but they are way less likely to try and brow beat you on price when they come out. Tenants with pets also tend to stay longer for the same reason. Secondly, you get twice the deposit. BC tenancy laws say you can only ask for half a month’s rent as a security deposit. Welcoming “Spot” sweetens the pot with an additional half month. My experience with tenants is it’s not the pets we need to worry about damaging the…

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