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C&M Rental
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C&M Rental's posts

Real estate is like any business. One of the keys to success is to ensure that you focus on the important higher level issues, making sure that you have a good tenant base, your property selection is good, and that you manage your vendors well.

The early bird gets the worm! Make sure to jump on whatever business deal, tenant issue, or maintenance issue as quickly as possible.

Obtaining capital is a key component in growing your business. It is not always a straight forward business to deal with banks.

You never know when opportunity will knock. Today C&M Rental came across a couple great opportunities, one where we were looking, one when we were not. Always, keep your eyes open!

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Crisis management is an important part of any business, including property management. We just had an emergency situation where a tenant was all set up to move into an apartment when weather related damages occurred preventing them from being able to move in. They had no other place to stay. We found them a different apartment to stay that would not cost our client any additional monies and put together a quick action plan to get the apartment back into shape. Not all problems can be solved, but good management will allow you to react properly when they come along.

It has and will be a pretty busy week for C and M Rental. Filled one vacancy for a client today, will fill another tonight, and if all goes as planned, will be in a position to fill a third as soon as the apartment is up and ready.
Advertisements that lay out expectations, and show the apartment well, but without unrealistic expectations, is key to getting the best possible tenants. Don't oversell or undersell an apartment.

The bad news for the day - busted hot and cold water pipes. The good news for the day, we have a great repair team that fixed it within the hour after it was reported to us!

We had a couple great meetups this week with other real estate professions, subcontractors and others in the field. We were fortunate enough to be able to contribute to the group and mentor some new investors. At the same time, we made some great contacts ourselves!

A friend of ours has been nice enough to set up a local real estate meet up in Toronto this weekend come join us to chat!

Fionn MacCool's
6110 Hwy 7
Vaughan, ON L4H 0R2

Sunday 2pm.

We just recently had our local Buffalo Real estate meet up which was a huge success due to guest speaker.If you want to learn more about the real estate market across the pond we can help you out. We are also experienced in the challenges many of you folks face investing out of market. Join us for some stories and laughs! ( I will be on vacation visiting your great country)

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What is a good target cap rate? When investing you need to have a target cap rate, but the question is, what should that number be? The answer is, there is no across the board target cap rate. Cap rates will vary based on relative risk and the specific market you are in. We focus in the Buffalo area where the housing market has been stable for many years and housing prices relatively low. In this kind of market, properties cash flow much better than in markets that have seen long term housing price increases. In a growing housing market, lower cap rates can be acceptable, as the investor will be growing equity by the continued increase in the value of the property. Even within a market, acceptable cap rates will vary by risk. A higher “risk” property must have a higher cap rate to make it a good investment. Risk can be defined as any number of potential factors, including a declining housing market, the home being in an area where tenant turnover and difficulties are more likely and properties that are older and/or have mechanical issues that may need to be addressed. This all leads me to my next point, researching your target market. Click this link to continue reading -
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