I have been finding, fixing and renting my own properties for 6 years. I currently manage 12 doors. I take possession of a 26 unit apartment in the next few months, with another 6 unit apartment(hopefully) 6 months after that. I plan to quit my regular job as a paramedic to manage the 44 doors. I don’t know if it’s a good idea or not. I know of a great property manager, and I am contemplating bringing him onto the team, which would help me focus on growth strategies and not be so tied up. On the other hand, the property management fees eat into my returns..?..?

I can tell you that finding deals took me a lot of patience and determination. Talking to property owners and building relationships, networking with other investors, helping others investors with deals that didn't fit my thesis, driving for deals, talking to renters about their landlord, talking to neighbours around properties I found interesting, getting to know property managers and realtors and wholesalers…etc. At times it was downright annoying seeing properties go for prices that didn’t make sense, and didn’t pencil out. I was even tempted to just buy something because I felt like I was missing something, or maybe other investors knew something I didn’t. At times I have been frustrated with myself and questioned my ability to do an analysis. At one point a guy named Josh F even helped me see the reality of a deal for what it was before I did something I would have regretted. I have come to understand the importance of quality over quantity. I don’t need to secure a lot of deals, I just need a few good ones, and that’s all I am after. After 6 years of developing and maintaining my pipeline, the deals are coming…good ones too! Even in a hot local market with investors coming in from everywhere. How is this possible? The answer is relationships. Relationships = pipeline!. I now have owners and realtors and property managers and wholesalers bringing deals to me. Lately I presented 3 possible good deals to my financial partner, because we had to narrow it down. We simply can’t handle them all. One of those came from chatting with a guy while walking my dog…he was raking leaves outside a fourplex. One deal is my plumber with an infill lot he wanted to get rid of. The third deal is an apartment building that has been owned by the same family for over 40 years. When the pipeline starts working it is very cool!

How much of a deposit should I put down? Should I also have some down payment as nonrefundable? I have spent too much time thinking about those questions… I feel like I’m sitting in front of a chessboard contemplating my next move.

I am making an offer on an apartment building. How long should I allow for the due diligence.? I will need time to review all leases and other documents, and also allow time to satisfy all the lenders requirements for financing. This is an off market deal, so I have to put something in the offer regarding the conditional period Duration. What is an appropriate length of time for that?

I have a lead on an off market deal in Red Deer, sellers are motivated: 900sqft house, 6990sqft lot, house could be rented as is or updated, or new development lot. House built in 1958. Owners are looking for cash on a quick sale. $240K.