Merry Xmas - 8,500 sq. ft Tavern for $15,000 close to Ottawa

[Dave2]

Dave I agree how about this one?

Realize it's more of a recreational thing but I find one has to do stuff like this to get the most out of life...Besides you could sell it later...

Niagara Investor:

Since I cashed out of residential investment real estate I have stayed away from those with dwellings because of the current political situation in Ontario and because of current market prices except in a few potentially unusual circumstances. I have commercial investment rental property but I am generally in land and private mortgages.

One thing as well is I have never been a fan of long distance rental property investment. (i.e. greater then 45 minute driving time) Things do go wrong and I have had mixed experience with property management companies particularly under the current rules. This also limits my opportunities.

I do have further distance recreational properties (my avatar is one); like the one shown in your reference, but they tend to be the exception rather then the rule, because I think vacation (particularly waterfront) properties may face a market correction. I work more on affordable, buildable rural property and I tend to do my own marketing but keep my eye out for good buys that make the exceptions:

For example I know the real estate agent that is shown on your reference as he has tried to get me to list with him on several occasions. If I do list it will be with one of the former owners of my avartar property who operate the
biggest and best island recreational real estate brokerage in the world ouy of west germany.

http://www.vladi-private-islands.de/home_e.html (if you really want paradise like a south sea island paradise) they have it and they only buy something that is first class for their own account, which I now have the fortune to own. In 2012 we have to make an interesting family decision on whether we keep it or another property for own recreational use.

Right now I am concentrating on trying to take advantage of another Liberal government policy (the Oak Ridgest morraine) which while admirable in its objectives is having the effect of causing skyrocketing land prices in the GTA. Add to that all the municipal governments who are pouring developments charges onto land to get a building permit and today for example in a community like Oakville it costs you $150,000 - $250,000 plus $70,000 in development charges for an average building lot.

When you contrast that with my average price including development charges for under $50,000 and slightly more then that for deeded waterfront access for an acre plus of buildable rural land and I might get some attention.

Right

[Dave2]

Continuing: (timed out).

right now I have just listed this property for sale

http://toronto.kijiji.ca/c-real-estate- ... Z337784195

Development charges are ($6,000 but will probably go up) so land and building permit charges are just over $30,000 and I had a pleasant drive with a builder yesterday who may want to buy it and put an affordable house on it (no more then $200,000 all in). Yesterday was a chilly December day
but I prefer to do this and to drive to Hastings then face the Toronto 401 madhouse.

Some of my buyers are buying and holding for retirement a few years off.

Don't get me wrong land has its own problems and I only buy about 1 in 15 because as I say Ontario has lots of swampland; why go to Florida.

So in conclusion there are alternatives to the daily landlord and tenant
rat race. You just have to have the courage to stop the treadmill and get off if you are not getting anywhere.

I mean you only can do so much, and then you have to step back and ask yourself why. Take a mice infestation, which has been one of the recent topics and which I once had in a residential sixplex.(I also had some commercial but no food for sale) In addition to the mice I also had seven cats in the building. I guess the cats were wimps; but why did it have to happen to me; Go figure.

I have had worse; before I got engaged I go bitten by a poisonous snake but that is a whole other story which took me 20 years to understand why.
(today is our 35th anniversary)

[helga]

Happy anniversary Dave!
I find your posts insightful and it certainly gets me thinking...

[Niagara Investor]

Since I cashed out of residential investment real estate I have stayed away from those with dwellings because of the current political situation in Ontario and because of current market prices except in a few potentially unusual circumstances. I have commercial investment rental property but I am generally in land and private mortgages.

One thing as well is I have never been a fan of long distance rental property investment. (i.e. greater then 45 minute driving time) Things do go wrong and I have had mixed experience with property management companies particularly under the current rules. This also limits my opportunities.

I do have further distance recreational properties (my avatar is one); like the one shown in your reference, but they tend to be the exception rather then the rule, because I think vacation (particularly waterfront) properties may face a market correction. I work more on affordable, buildable rural property and I tend to do my own marketing but keep my eye out for good buys that make the exceptions:

Hi Dave I wouldn't rent it out, that much, I'd use it as much as possible and then sell if I got tired of it. I have a boat and like the access to a few different lakes. You are correct though, long distance rentals are trouble unless you can farm out the property managemenent aspects of running it but we've seen how that goes.

Just out of interest have you done any flips?

Happy anniversary...