All Forum Posts by: Adam Krawec

It's not easy to find owner names in Canada, getting a realtor will help. You could also try 411 or whitepages and do a reverse lookup.

Hey Trevor, 

Average rents are about:

$1600-$1700 for a 2 bedroom
$1800 for a 3 bedroom
$2300 for 4+

Taxes vary quite a bit, but could be anywhere between $3k-$7k

As far as sources go, I typically list on the MLS, as I find the quality of tenant is higher. But have had luck with Facebook Marketplace and Kijiji.

@Aman Kumar and @Nelson Ellingham I am always up to connect with new people, kind of why I am here lol  

It's good to keep that momentum of interest going.

Do either of you two own anything at the moment?

@Honoline 

My personal experience with assignments in Niagara has not been positive, while not impossible, not as easy as it sounds. I am a realtor, and usually get the worst case side of Assignments gone wrong, so I may be a little biased.

The pitch comes off as "Buy the contract now, don't pay a mortgage (because the deal has not closed), sell the contract before closing for a nice profit". The reality is we don't have lineups of people trying to get into a new build such as Toronto, and we still have plenty of inventory to sell in this space.

Some questions to ask yourself; 
Is a 2000 sf townhome desirable?
How will you find the buyer?
If you don't find a buyer, can you get financing to close the deal?
If you close will you hold and rent or sell and incur holding cost?

I see it as a gamble, and not an investment.

There are no cleaners coming into the homes. It is on the student's to keep things tidy, make a weekly duties list that rotates the students, include it in the lease. Just don't count on them cutting the grass or shoveling the driveway. Make the duties super light, such as, taking out the trash. 

I wouldn't say it's business as usual, as the international students are not allowed to immigrate at the moment. So the students that are moving around are already here and looking for better accommodations. 

I work with investors that have student housing in Niagara Falls. We have had zero issues filling up a home with 10-12 students in a week. 

Being close to jobs and having a clean home were really an advantage. We found that a lot of students were moving out of very poor conditions, and were too far outside the tourist areas for the jobs (when they were a thing). 

@Evan Kummer

They are starting to pop up a lot more frequently lately.

Have you just not found one you like?

Hey Guys,

Are there any Canadians in this forum that wholesale? Potentially out of Ontario?

Thanks,
Adam

What are your cashflow expectations? 

@Jadon Kaiser I couldn't imagine a drop in Niagara, there are far too many investors ready to jump on homes. Even when a home should sell for under market due to the property condition, some of the misguided are still overpaying. 

There was an interesting listing to hit the market today on Buttrey, it's better than Division street location, but also one of the lower end areas of Niagara Falls. It is going to need some work, but at $349k for a duplex, it's below market, and fairly close to the Niagara Parkway. 

I was talking to my mortgage broker last night, where we may start seeing deals are in the mom and pop shop commercial buildings in the coming months ;)