All Forum Posts by: Anthony Therrien-Bernard

@Karan Kwatra  Calgary still offers strong rental demand and job growth, but some smaller Alberta and Atlantic Canada markets can cash-flow better. Research local trends and job sectors - good luck!

I don't think there are any markets left in Canada where single family homes cash flow as rentals. In rural communities there's no inventory and in cities rents can't support prices.

I'm most familiar with the Kitchener area and here up to 4 units don't breakeven without 50% down. I live pretty close to the University of Waterloo and even student rentals aren't worth it anymore unless you just want to rent out a few rooms in your basement as a secondary income. A room rents for about $800-$900/month so you would need to run a lodging house with a minimum of 6 bedrooms and put at least 40% down (~$350k) just to breakeven with a prime -0.50 mortgage.

Personally I would rather put that money into a money market fund and earn 3-4% without the nonsense of being a landlord, especially with the tenant-friendly laws in Ontario.

It's worse now but it was already not worth being a landlord for most of my investing career (I started in 2000) which is why I got into lease options and seller financing.

Hello BiggerPockets!

I am a new investor up in Canada and like many are having a hard time with higher prices and scarcity of cash flow.

I was able to start my portfolio here in Kelowna, BC with a 2b2b condo and learned a lot (many mistakes were made)! Since then I’ve been educating myself as much as humanly possible by reading books, listening to podcasts, watching YouTube videos, going to my local meetup (which is small), and going to every free webinar I can find.

After a lot of research I have landed on investing in small multi family that I can value add and BRRRR in Indianapolis.

While I have tried to educate myself as much as possible I am not completely confident in my underwriting and rehab estimation skills. It would be great to find a mentor in the Indianapolis area that could provide a second set of eyes and share some knowledge.

Does anyone have advice for finding a mentor as someone who is out of state/country? Or even advice to accurately estimate rehab costs for the purpose of underwriting?

Do you think that paying for coaching is worth the money?

Cheers!
Brian

I've seen a large surge of multifamily development deals come up in Alberta over the last 4-5 years. ( for the seasoned investors ) In your  opinions this market - is it too late to start getting into development while there are easing of zoning restrictions and more options for cmhc financing? Im considering to start up in Saskatchewan Canada - Have land under contract for a 20 unit- but am curious to local opinions for those who have done it prior. 

@Anthony Therrien-Bernard : which website? for quick mortgage calc and buy and hold spreadsheet?

Hi everyone, my partner and I are renting right now and looking to start our landlord journey. We're based in Calgary, where there’s a lot of pre-construction happening, and we’re aiming to buy a pre-con property as our primary residence.

As a first-time homebuyer, I’m weighing two options: 

1. Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).
2. Pre-construction homes, which could build $50-60K in equity within a year or two.

I can afford a 20% down payment, but I’m torn between focusing on equity (pre-con) or cash flow (resale). My goal is to build my portfolio over time and secure a stable primary residence. 

For those of you who have been in a similar position, what do you think makes the most sense? Would love to hear your thoughts!

Hello from Calgary, Albertan. I am a New member to this platform but, long time listener of BP podcast. I am looking for Canadian Rental Deal Analysis Calculator. Is there anyone who can guide me on it? 

 Looking forward to get add into the Canadian groups as well..