#018 RSIRE Buying A Property & Renting To Students

#018 RSIRE Buying A Property & Renting To Students

TANJA COUGHLAN is a homeowner that wanted to purchase a new build and either rent it out or sell it, after the 2-3 years it would take to build the subdivision. They had been thinking of purchasing another property for some time, and  put a small deposit on it initially, then the balance of $20,000 and waited for it to be completed.

When offering rental properties, one of the things to expect is that some tenants will not treat the property like their own, so this may lead to things being replaced/repaired more often. Some tenants will and will add value to the property with minor improvements, fresh painting, landscaping, etc.

It was stressful, perhaps even more stressful than purchasing a new build, as you are waiting for it to be completed, and also figuring out how to be landlords. As well, it is sometimes less stressful to buy a new build so that you’re not competing with many others for the same property.

What did Tanja learn? Would she do it the same way again? What advice does she have for others considering the process?

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