All Forum Posts by: Richard York

I agree but our real estate market has nowhere to go but down and prices are so high it makes it very hard to get into the game. Average price for a SFH in Canada is now $350K....

I felt guilty too. Had my agent look at about 20 places and offer on 10 before we got one accepted. I told him I felt bad but his response was that it was his favourite part of the job so no, don't feel guilty as long as the agent doesn't mind!

Sounds to me like the bank is making some bad decisions that have nothing to do with you. I would buy it without thinking twice about it! What did you decide in the end?

I've found a property that looks to be in a decent area, selling for $30K and will rent for $750. With my $12K and a bit of hard money, I could swing it. Any leads on reasonable hard money lenders?

Hey Andy,

As a fellow Canadian, I'd like to compate note and see how you've been managing. I've learnt a lot over the past few months so maybe we could share advice...

I'm in Ottawa. Prices here are high and cash flow is hard to generate. Most investors I talk to invest locally but more and more people are starting to look south.

Hello everyone,

I'm newish to real estate investing and am looking to expand my knowledge base and of course my investments. I currently own an owner occupied duplex in Canada and am in the process of purchasing a single family home in Phoenix.

I look forward to learning on this forum and to meeting potential partners to work with.

What about seller financing? I've looked into hard money loans but the charges are crazy. I don't mind higher interest rates but having to pay a lot of cash on top of the down payment kills any deals that I've found. What are the chances of finding seller financing with reasonable terms on a reasonable property?

As far as cash reserves, I would have a line of credit for unforeseen repairs if needed. $12K is what I have to put in at this point though.

I'm an international buyer so cannot finance unless it's seller financing. And yes, I do want a long term buy and hold for cash flow. I have to admit that a cash puchase is tempting but the potential problems are a bit of a concern (although I do have a certain tollerance for risk in this regard).

What about getting something a bit out of town where crime is lesser and I might find a long term tenant in place. How about something with Section 8 tenant?

I'm new to REI but have $12K to invest and really want to begin investing in real estate.

I know there are limited options but I'm open to investing in less desirable areas as long as vacancy rates are reasonably low and it's not in a war zone.

I know there are lots of areas where you can buy a single family home for $10K and rent it for $500+ per month creating a decent positive cash flow.

I've looked at Detroit and ruled it out. Ohio? Rochester NY? Georgia?

In my shoes, where would you make your first purchase?

Thanks in advance!