I have a legit question

I think you're right, but the market in Montreal isn't in a bubble like in toronto and vancouver. you can still find places for like 400 grand that in those cities would cost 1 mil +

That's stats canada btw ^

It could work but you will be losing money paying realtor fees for the sale and then paying more fees for the purchase of the second properties. It may be better to refinance the property you do have to purchase the other properties. The issue with that is three mortgages but you still "own" all three properties and can rent them out to pay the mortgages.

Okay so here's where my lack of real estate understanding kicks in:
In lamens, do you mean get a loan backed by the appartment I own to purchase other appartments?

You've struck gold f am. You'll need to get a copy of condo bylaws but I'm 99% sure they can't prevent you front renting it out unless its some specialized old folks home.

I'd say its not worth selling and buying two apartments for two reasons - you know the history of this building and quality of the place, while the new ones are cats in the bags. Also fees on transactions, feeding real estate parasites and lawyers + capital gains you might have to pay (depends at what basis your grandma gifted the place to you).

Forget that noise, and rent each room to a foreign student Thats a tenant who definitely has money since tuition for foreign students is 2.5x the normal amount + usually foreign students are higher quality people (upbringing and education wise) than some shmucks from the street. After they move out in one to four years you can adjust rent to new market rate again.

Yes you refinance the property you are being given. You could potentially use that money to purchase another property outright and then only have a mortgage on the first property. You then rent that out to pay the mortgage and now you are living in a home you paid for in full.

This way you dont pay all the fees in buying/selling and the rent you charge can offset the interest of the finance loan.

What insulates this city from a collapse in those other ones? I don't think you will KYS yourself if it gets hit because you can always be comfy with somewhere nice to live, but if it is about making money then there has to be a better way

Okay this makes sense to me.
I can still 'play' the market in Montreal by holding onto real estate, but pay for the nut (and maybe pay for half my rent at another place??) on it with a tenant. Problem here is like I said the kitchen 100% needs to get redone a bit, and one of the rooms was converted into a kind of library/lounge situation.
2 bathrooms though with two showers.

So all in all if I don't sell and intend to rent out I would be looking at renovating the kitchen, and a significant reworking of the library to turn it into a room.
This is if I want to maximize the rental profit by having two tenants (not to mention make the search for a tenant a lot less difficult I bet.

Contingency: what if the building doesn't permit renting it out?

So in 1995 my dad bought a fuckton of places in Montreal after the referendum in which a majority of the province voted to exit Canada and become a sovereign country.
This didn't occur, and a few months ago the provincial elections saw the seperatist party get absolutely decimated to new lows (like they are irrelevant now).

So Political Stability imo combined with the fact that Quebec DOES NOT have any laws or regualtions on foreign purchasers of real estate means we are in a good position to see foreign money come in, plus other canadians getting JUSTED because of the bubble's in Van/To.

>Rent it room by room to foreign students, guaranteed money and no headache about them staying forever

Foreign students, in Canada? You'll need to fumigate your property every year because it's going to smell of any or all of he following:

>Weed
>Kimchi
>Cigarettes
>Grease/Sweat
>Spices
>Coconuts
>Burnt oil

Guess which groups of people I am refering to here.

Okay that's a pretty solid idea.
I get to live in my grandmothers appartment right?