Canadian Bigger Pockets Members?

99 Replies

Hi all  I live in Northerner Ontario  North Bay a nice sized university town where I do student rentals Have also been active in the states for several years  always willing to chat with fellow Canadians

I'll speak up to represent the London Ontario region. I've been running a meet-up on the Bigger Pockets event platform for two and a half years without missing a month. I really enjoy connecting with new people, whether very experienced or totally new as long as they're personally committed. Feel free to connect and watch the Events section for the next meet-up in London, or join the facebook group: https://facebook.com/groups/BiggerPocketsLondon/ 

Hi folks...Alon here from Toronto, Ontario. Really happy to see so many people from Canada. Looking forward to making some connections and friends. Tons of amazing information on this site and so many people happy to help...really great to see!

Originally posted by @Alon Rokach :

Hi Elliott...that's not too far from me at all. I will definitely try to make it. How will I find you guys in there?

 Hi Alon,

You can find out more information (i.e., time, location, etc.) at the post below.  You won't have any trouble finding any specific individuals (e.g., like @Elliott Milek ) that you want to connect with.  Look forward to seeing you there.

https://www.biggerpockets.com/forums/521/topics/62...

Regards, Larry

@Brianne H. Hi Brianne, thanks for sharing your experiences when obtaining unsecured LOCs. Do you suggest starting at Credit Union's for approval first, before going to the "5 majors"? Also, what type of interest rates were you getting, (I know your post dates back a bit), and what was their required credit score? Thanks! Rob Hamilton, Ontario
Originally posted by @Rabinder Chopra :
@Brianne H. Hi Brianne, thanks for sharing your experiences when obtaining unsecured LOCs. Do you suggest starting at Credit Union's for approval first, before going to the "5 majors"? Also, what type of interest rates were you getting, (I know your post dates back a bit), and what was their required credit score? Thanks!

Rob Hamilton, Ontario

Hi, I don't think it really matters if you're starting with credit unions or banks, but I would try to coordinate them so you're doing all your credit checks around the same time, so that each bank doesn't see what the others have already approved. I think my lowest was about prime + 2%, and my highest is prime + 5%. My credit score was pretty high (750+) so I'm not sure what their minimum requirement is. Good luck! 

PS - One more thing I've recently encountered. My 30k LOC through RBC was closed (without my knowledge or consent) because in Jan, I paid off the balance in full when my house was refinanced. I went to use it in Sept, and found out at that time it had been closed. Why? Because apparently with RBC, unless the letter that came with the refinance cheque specifically says to keep it open, they will close it. TD and Scotia did not close my LOCs with them. My letter just said that the cheque must be used to pay off the balance on the LOC, but it said nothing about needing to close the account (and apparently nothing saying to keep it open either). Extremely frustrating when I was counting on having access to $30k just to find out that I don't, in fact, have access to that 30k, mid-way through a project.

Hey all, I recently joined BP and was thrilled to find a Canadian forum. I am currently working on a live in flip and this thread has already answered a few questions I had about acquiring a second mortgage. It is my plan to acquire SFR in either the Calgary or Lethbridge markets as I currently live between the two cities.

Let's keep the Canadian content flowing....

Hi All, great forum! We live in Vancouver BC  and would love to join a meet up group here if anyone is aware of one. We currently have 7 multifamily houses and have tapped out the area we are in. We'd like to start investing in the US or other university towns in Canada. We are looking for cash flow positive properties to live off for our retirement.

Good to know there are members active in Southern Alberta.  

Stephen, Todd - we should consider a meetup for Lethbridge?  I too have been leaning that direction for my first or future deals.  I would love to hear what you and others have to say about experiences in the area.  I was at a Calgary meetup last night and even though it was semi-cancelled at the last minute a few of us were there and had some great conversations.

Hi All! Edmonton here, originally from Ontario. Glad to see a Canadian thread! Relatively new to BP, just joined the 90 day journal mastermind & going to check meetup.com for any local meet ups! Planning to buy two rental properties in 2019! Thank you everyone for the information you’ve posted!

hi everyone. I'm from Toronto. Just joined this site a few days ago. I have a few properties in London, Scarborough and oshawa. Looking to meet new people this year. Thanks