All Forum Posts by: Amr Tammam

@Joel Armstrong

I totally agree with you, and my strategy is cash flow, so you are confirming my view in Saint John

I would appreciate connecting with you and maybe you could steer me to proper sources for multi family units, investor realtor, accountant and lawyers etc

I’m planning on visiting Montreal next month and then going to New Brunswick

Hi @Mazin El-Achkar

Thanks for your response

I would love to invest in Montreal, but my goal or strategy is cash flow, and I don't see that happening in Montreal, I believe max CAP is at 5-6%

On the other hand I see potential in terms of cash flow in Saint John and also opportunities for quick flips

Maybe in the future, after building equity and credit history, Montreal could be an option

But still, I’m basing these data on what I could find, maybe you could lead me to a source that gives more info about Montreal market

Thank you for your response and I’ll be visiting next month Montreal and maybe we could connect

Hi @Casey Maeda

Originally, this is where I wanted to invest, but I can’t find properties that make since in term of passive rental income

Besides, the prices for units are really hi, and I’ve been away from Montreal for the past 20 years, and I don’t have income over there, so going for loans and mortgages, is going to be challenging

But I have a commercial property in Egypt that I’m selling and planning on taking the cash to Canada

What made me go or think of New Brunswick, is, I could buy 3-4 buildings with 2-4 units each; with that same amount, I could probably buy a unit in Montreal or even Ontario

That being said, the plan is to use all the cash to buy buildings with most rental units, operate for a year, to prove income and build up credit, then go to refinancing and begin in the BRRRRing strategy

In my belief, this is possible in Saint John (I could be totally wrong), but I believe to be difficult to almost impossible in Montreal

But if anyone could advise me, if my plan is correct or does it needs changes, and perhaps, if anyone from Montreal could assist, in whether what I’m saying is away from the truth

Mind you, I’d love to start it in Montreal, I’ve lived there, and was managing a few units, for short term rentals, but trust me, it’s a huge headache

Thanks everyone and awaiting your thoughts and advices

Amr

Hi @Joel Armstrong

Thanks for your fast response, yes, it’s the same way I feel about Saint John, but a lot of discussion about Saint John on the blogs and forums, would steer you away

I’m interested in buying a few rental properties in the uptown and west and east side Saint John

I know the buildings are old and needs work, also rentals are low and old deals, so my concern how can you let your tenants move out to further rehab and increase rentals

I’m planning on visiting next month to take a look around and if you don’t mind me contacting you

Thanks again

Hi BP members,

My name is Amr, I’m 42 years old, living in Egypt and planning on starting Real Estate Investing in Canada.

I'm interested in the BRRRR strategy of holding and renting, till now I can't make up my mind on where to start investing.

I see the New Brunswick market is very promising in term of rental, especially in Saint John. Mind you, why Saint John, simply most of listings has info on income and expenses, other areas don’t have much info.

So, if any one could help me around and directing me to the proper start. I’m hoping to have connections with experienced realtors and investors to mentor me in this path

Thanks everyone for your time and looking forward connecting BP family