All Forum Posts by: Aditya Soma
Aditya Soma has started 20 posts and replied 89 times.
Post: OLD Duplexs(75+ age)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Thank you @Christian Bors, sure I will take your suggestions into consideration.
Post: OLD Duplexs(75+ age)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Hello Everyone,
I hope everyone is doing great.
I'm planing to buy my first rental property, started to looking at Duplex's in Windsor, ON I see that only OLD Duplex's are at reasonable prices(100,000 - 150,000) where as Newer ones are costing more then 200,000.
For Older one worried about the Expensive Major Issue due to age. on Newer one I don't see any CASH FLOW. can someone please suggest me what would be the way to kick start my REI journey
Thanks
Aditya
Post: House hacking(MY FIRST HOME)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Originally posted by @Roy N.:
Originally posted by @Aditya Soma:
Hi @Roy N. Thank you very much for valuable Info on >5 units && Do's&&Don'ts I will defiantly follow your suggestion.
2 more questions please. What would be the lowest down payment I have to pay, if I want to go with 2-4 units MF House??
in you experience which is the best financial institute in Canada who's interest rate is less??
Once again thank you very much @ROY N
If you meet the conditions for a high-ratio, insured mortgage on an owner-occupied, residential property, the minimum downpayment required is:
5% on a SFR or duplex; or
10% on a triplex or quadriplex.
There is no best {conventional} lender in Canada - they all have strengths and weaknesses and are constantly shifting position w/r to being investor friendly. A few years ago TD was wonderful - low rates and fairly painless approvals, now they have tightened up their lending a little (particularly for those with 6+ properties).
While the interest rate is important, there is more to financing than just the rate. What are the pre-payment / payout terms? Does the lender allow seconds? ... etc.
Our last residential mortgage was placed earlier this year, in exchange for a 5-year term, variable rate note at 2.2%. Just prior to that we placed another in exchange for a 1-yr fixed-rate note, at 2.34%, with a different lender - we normally do not used fixed-rate financing, but I made a commitment to use this lender during the deal (they were also the vendor) and their variable rate offerings were sadly inferior.
Thank you @Roy N. looking forward to learn from your experience more and more.
Post: House hacking(MY FIRST HOME)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Originally posted by @Matt Geerts:
1-2 unit owner occupied house: 5% down.
3-4 unit owner occupied house: 10% down.
1-4 unit non-owner occupied house: 20% down.
5+ unit commercial: Depends on the lender and the deal. This is complicated. If you want to get into larger residential, grab onto the coattails of someone who is already doing it. Bring them their morning coffee. Offer to take pictures of properties and sweep their hallways if that's what it takes to get them to talk to you about it.
General newbie advice:
1. Save a LOT of money.
2. Figure out how to do a deal where you end up with all of your money back out (ie, BRRR strategy).
A good chunk of cash can buy houses forever. No cash can't buy anything.
Oh yeah, and you recently missed Windsor liquidating tax-sale houses. That was about 3 months ago. So keep learning and keep an eye on the Ontario Gazzette for Windsor's next tax sale. By the way - don't wait for the sale. Contact the owners and help them get their back taxes paid in exchange for a deal.
Oh, and forget everything until you've spent at least 20 hours studying the RTA and LTB.
Thank you @Matt Geerts. Lesson for the day RTA & LTB
Post: House hacking(MY FIRST HOME)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Hi @Roy N. Thank you very much for valuable Info on >5 units && Do's&&Don'ts I will defiantly follow your suggestion.
2 more questions please. What would be the lowest down payment I have to pay, if I want to go with 2-4 units MF House??
in you experience which is the best financial institute in Canada who's interest rate is less??
Once again thank you very much @ROY N
Post: House hacking(MY FIRST HOME)

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Hi Everyone,
I'm planing to buy a multi Family House(Foreclosures) in Windsor, ON. with the inspiration/knowledge by @Brandon Turner book(RPI) and many other books suggested by @Brandon Turner, In specific looking to follow HOUSE HACKING approach.
Can someone please suggest/share experience about HOUSE HACKING approach in Windsor, ON Canada
Also answers for couple of my questions below very much appreciated
1. For a beginner is that OK to get a multiF house(> 5 units)???
2. In Windsor area how much can I spend on Duplex(4+ BDRMS 2+ BathRMS) / 4 -1BHK Units House(for OLDER Building && for < 30Year age)???
3. good areas in Windsor ?
4. Do's/Don'ts when looking for a good deal(MF Houses) ??
5. Do's/Don'ts in General for a beginner in REI??
THANK YOU VERY MUCH for being patient in reading/answering my post
Have a wonderful day Everyone
Post: My Intro

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Thank you Very much for you warm welcome @Michael S..
Post: My Intro

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Hello Everyone,
I would like to share my excitement about BP. I recently signed up on BP, within few days I gathered tons of info on REI so far it's a wonderful learning experience with BP/Prodcast/Books I'm very excited to start my REI Journey with the help of BP, it's giving me day to day motivation/belief/confidence to pursue my dreams. Very thank full to each and every BP Leaders for helping many EMPLOYEES like me to become Business OWNERS. special thanks for Brandon Turner for awesome books(RPI/Zero Inv).
Thanks
have a wonderful day everyone
Post: Looking for REI Community in Windsor, ON Canada

- Real Estate Agent
- Windsor, Ontario
- Posts 95
- Votes 65
Hello Everyone,
Firstly, I would like to share my excitement about BP. I recently signed up on BP, within few days I gathered tons of info on REI so far it's a wonderful learning experience with BP/Prodcast/Books I'm very excited to start my REI Journey with the help of BP, it's giving me day to day motivation/belief/confidence to pursue my dreams. Very thank full to each and every BP Leaders for helping many EMPLOYEES like me to become Business OWNERS. special thanks for Brandon Turner for awesome books(RPI/Zero Inv).
Reason for post: I'm located in Windsor, ON Canada looking for an REI Associations. any Windsor ERI please comment/leave me a private message we can meet once in a while to share/care.
Thanks
have a wonderful day everyone