All Forum Posts by: Andrew Dornan

@Brennet Vargas

I am from portage la prairie, I am also looking for a rei group to attend.

All the best

portage la prairie here, just starting out trying to learn as much as i can as well.

currently in the process of building a house. 

Hi all,

I am from The prairies in Canada. I am a carpenter by trade and am really interested in getting started in real estate investments.

So right now I am building my family a house. I am doing 90% of the work myself after work and on the weekends.

At the end of the whole process If everything works with my numbers I will have about 39% equity in the house with only putting down 5% to the mortgage.

Anyways I guess my question is when I roll my building line into a mortgage, is there a timeline before I can pull equity out of the house so I can start investing into rental properties to potentially brrrr ???

Thanks in advance

I am trying to learn this whole brrr strategy, and I am stumped on the refinancing part If I was to get a hml and do the buy, Reno, rent. Who am I refinancing to free up capital from? The hml? Or at that point do I try a bank to repay hml and then refinance from the bank? Any help explaining is greatly appreciated. Thanks in advance

@Alina Beryh if you are buying from a realtor you could possibly ask them if they would have any knowledge about rough rehab costs or if they know of any contractors that they deal with.

Originally posted by @Jim Pellerin:

If you are in Winnipeg, check out Stefan Arnio.  He's responsible for a lot of the fix and flips in the city. He also does a monthly investment group meeting.

 I have heard of Stefan and his workshops that he holds in the city, good to know that you recommend him. I have tried looking into him a bit and wasn't sure if he was legit or not. I will try and attend one of his meetings in the near future.

thanks for the input jim

Originally posted by @Ken Nyczaj:

If you're great at the contracting side, maybe start building relationships with Real Estate Agents, Title Companies, Lenders, Partners with Money, or anyone else who can get you into your first deal.

 thanks for the advice ken

awesome thanks frankie

@Steven Rubino looks awesome! Congrats

Hi there, new to bp I was wondering if it is possible to get a heloc to purchase and make my house now a rental and purchase another house to be my primary.