All Forum Posts by: Stephen Fryer

Great advice @Louis Davis. Bang on.

Hi @Reid Beck. If you need help setting up an entity in the US, connect with me and I can share my experience, but you definitely want to speak with a tax specialist. If you need someone to help with your ITIN or an EIN, I would recommend Daniel Gray at US Tax Services. They are Toronto based and can be found online at http://www.ustaxservices.ca/

Hey @Frank D.

Always great to see a fellow Canadian on the site. Welcome.

I live in Ottawa and invest in South Bend, IN. Love the Midwest. Steady eddy market. Lots of value to be found with good cash flow.

Feel free to connect with me and I would be happy to share my experience. Also, if you need a referral for an accountant to set up your ITIN and or EIN, let me know.

Hey @Michinori Kaneko.

Great question. Like New York, the market here in Ottawa is really tight. Our cap rates are like 3-4%. It just makes it difficult to make anything cash flow. I love the Midwest. Lots of value there. I can still find properties at a reasonable price that provide revenue every month. South Bend has been good to me as an investor. Several universities, colleges and a major hospital are great anchors. Last time I looked, approximately 40% of the population rents. The vacancy rate is a little high at 8%. but I haven't had any issues finding good tenants. I'll chalk that up to a good team on the ground for property management, maintenance etc.

How are you finding your experience in Fort Wayne?

HI @Eric Geers and @Michinori Kaneko

I am a long distance investor as well, working the South Bend, IN market from Ottawa Canada. Feel free to connect. I would be happy to share my experiences.

Hi @Paul Kit.

For a CPA/Agent, I would highly recommend Josh Belk. His focus is real estate investing. Very knowledgeable and he's also an enrolled agent. He's located in St. John.

http://belkassociatesllc.com/

Hi @Praveen Pant. 

I'm a long distance investor in the South Bend market as well. I have worked with @Jen Arizmendi many times and can tell you that you are in good hands with her. She's an awesome resource. 

Message me any time. I would be happy to share what I know.

Hey @Josh Levan.

I am investor in the South Bend market. I have about 26 doors right now that are primarily SFR, duplexes and triplexes. There are not a lot of multifamily available right now. Best bet is to find a good broker that can keep you in the loop for anything new hitting the market and any pocket listings that they may have. Connect with me directly and I can give you a few referrals.

Hey @Teho Kim.

I'm a long distance investor myself. I invest in South Bend, Indiana from Ottawa, Canada. The Midwest is a great place to find value. Feel free to connect with me directly. I would be happy to share what I've learned. 

Hey @Blake Edwards. Great job.

I live in Ottawa, Canada, and invest in South Ben IN. Nice to see others that have successfully put together a great team and are doing deals in other markets. Keep up the good work and please continue to share your successes. They keep us all motivated. Two thumbs up!

Hey there @Jr Trotta.

Everyone has a different approach to financial independence. I had this conversation with my 23 year old son the other day. If you want to make $50K/ year with stocks, you would need to accumulate about $1.25 million dollars (4% rule). 

With real estate, assuming $300/door you would need 14 doors. A couple of months ago I bought a duplex for $50K. That would mean I need 7 similar duplexes for a grand total of $350K to reach the same goal. At the rate that you're saving, you could hit that target in less than 10 years. Plus you get the tax advantages of appreciation, depreciation and tax deferrals for repairs and expenses, etc.

How about putting the savings in a self directed IRA and using it to invest in real estate. That way your returns grow tax free.