Brrrring in Montreal

5 Replies

Hi BP members

Who in Montreal is Brrrring?

And can gives us an insight of the experience and knowledge in that particular city

Can you apply the 1% rule in Montreal with long term?

Or your best option is short term?

What part of the city to look for Brrrring properties?

I found it hard to find a positive cash flow properties after all expenses, unless you are Airbnb it

Thanks for everyone and awaiting your experience insights

Amr

The BRRR strategy works anywhere and with any type of income producing you property that generates enough cash flow to support the debt service. The key is you need to be able to increase value and equity through improvments and principle pay down.

You should not use any rules of thumb as that will vary depending on down payment and interest rates. 

Always run the actual numbers to make sure the deal will work.

Originally posted by @Amr Tammam :

Hi BP members

Who in Montreal is Brrrring?

And can gives us an insight of the experience and knowledge in that particular city

Can you apply the 1% rule in Montreal with long term?

Or your best option is short term?

What part of the city to look for Brrrring properties?

I found it hard to find a positive cash flow properties after all expenses, unless you are Airbnb it

Thanks for everyone and awaiting your experience insights

Amr

BRRR will be hard to do in Montreal (or Toronto, or most Canadian cities) because prices (vs. rents) are generally higher in the US vs. Canada. BP is a great resource but is geared towards the American audience. Your best bet would be to post in the Canadian section of the forums.

Keep in mind though that your BRRR (or other strategies discussed on these forums) success will be way lower in Canada than in the US. Also, it will be harder to do certain activities like wholesaling, etc in Canada due to different laws.

Hi @Amr Tammam ,

The BRRRR strategy can be done anywhere, it all starts from finding a suitable deal. Most good deals are found off-market, though it's possible to find on the MLS. Make offers, don't be afraid of having your offer rejected.

As for the 1% rule, it's very hard to get this number in Montreal. As others have pointed out, do your calculations to see if a property makes sense. The more properties you analyze the better you'll get at spotting a good deal.