I Bought an Abandoned Property with a Surprise Inside...

[@KellanJames]

7:12 haha oops! This was a great video Mike, love seeing new acquisitions and the reno plans. Looking forward to an after-reno video!

[@MikeRosehart]

Kellan P. 7:12 is actually my favourite part of this video lol. It would make a good meme. “Man down!”

[@priceandpride]

His no reaction is priceless lol he's always on message, what a pro

[@dontrinh7686]

another great video brother, that was a good walk through. Is it possible next time to give an estimated cost with each problem to fix? It would help the inexperienced viewers not get ripped off by certain contractors. thanks.

[@CanadianRealEstateChannel]

Love the in the field video! I think viewers will enjoy this too! Always nice to get off to a good start with the key working!!!

[@oldboy487]

Awesome job Mike! Could you make a Video of you picking out the materials for the house and what kind of material you think is best? Lots of people do the cheapest available, but i dont think thats right for buy and hold - what's your opinion?

[@MikeRosehart]

FlorianZ thanks! it definitely depends your strategy. Sometimes quality product pays off. Sometimes tenants destroy it anyway and it woulda been better to go cheaper.

[@honestly101]

Thank you Mike Rosehart for the walkthrough of this property. Are you going to update us on the progress of the property?

[@MikeRosehart]

Definitely. I'll do a video on the reno budget & plan.

[@MikeRosehart]

Thanks for the support as always!

[@Devillionaire]

Would love to see an after-renovation walkthrough video including the renovation budget and timeline.

[@bldfinancial]

Great walkthrough

[@propellerpropertygroup]

Great potential on this one! In a good location it's worth the work to get it back in shape. Were you able to get bank financing on this one or did you have to go private?

[@MikeRosehart]

Phil Williamson I got a mortgage at 2.49% FIXED on this one. It was a port product and financing was a bit tricky, but we found a way. Purchase plus improvements so I’ll get a cheque back upon completion.

[@yonask627]

Great vid mike! cant wait to see if you'll have an update on this place by OREC!

[@MikeRosehart]

Thanks Yonas! Sure, I'll do my best to do an update video.

[@batwood8010]

VCT = Vinyl composition tile = does not like extreme variations in temperature.

[@MikeRosehart]

B Atwood good catch. it didn’t feel like vinyl glue down tile, but could have been. Felt like that older stuff.

[@nathangodson6313]

Hey Mike. I find the houses in my area to be a lot cheaper (100-150k range) which makes it easier to afford however it seems harder to add value to the property and get a higher appraisal like yours. (Hard to do Brrrr strategy). Any tips? Very low appreciation in my market but can easily meet 1-2% rule.

[@nathangodson6313]

Also, we have a lot of very old houses in the area. I’m just curious if you tried to stick to houses in a certain era or if the age of the property doesn’t bother you?

[@MikeRosehart]

Nathan Godson if Average price is 150k, you need to be buying houses for 75k, there are wholesalers in the US buying at 50 cents on the dollar all day.

[@MikeRosehart]

Nathan Godson anything that makes money. Newer is obviously easier but it can’t always be the case.

[@frazhussain5485]

nice jacket mike you look very nice very well dressed as always- this is a very nice looking video clip i am having a very good time watching it- and oh no u just said that the house is broken i can see that a lot of things are wrong maybe some things are ok i guess thanks a lot for sharing- i can hear your daughter talking she must be very cute take care bro keep up the good work.

[@frazhussain5485]

very interesting

[@priceandpride]

Nasty 12 inch asbestos tile **proceed to rip it up with bare hand** lol

[@MikeRosehart]

priceandpride neither confirmed nor denied if asbestos lol

[@frazhussain5485]

who's house are you checking out buddy?

[@garymacdonald5921]

Did Emma do a face plant or is she making snow angels, lol

[@MikeRosehart]

lmao face plant. I'm thinking of making it into a MEME :P

[@garymacdonald5921]

What are the numbers on this property

[@MikeRosehart]

Tricia MacDonald not one of my best deals... 267k** purchase price on this duplex. 30k reno target. 299k ish all in cost for me 375k reappraised target value. Target Rents will be $3000-$3100/month or $36,000 - $37, 200 annual rent.

[@TravisVanSluytman2]

Hey Mike! When you're purchasing a property with the intention of a quick turnaround and refinance what kind of a mortgage do you go with?

[@jhenry9636]

Please keep your daughter OUT of abandoned properties. You don't know what you are exposing her to. Terrible idea. SMH

[@priceandpride]

14:25 mouse 💩