All Forum Posts by: Anthony Therrien-Bernard

If I BRRRR a property with an illegal basement suite will I get screwed on the refinance? I don't think I can make it legal because there is a requirement for multiple parking spaces which would be impossible to do. So I wouldn't be able to count the gross rent from the basement … :/

Indeed lenders can't count the income from the illegal suites, what they would usually do is use the rent that you would get if renting the whole place as 1 unit. Are you sure you have no parking or garage options to meet the requirement?

1 Vote

Quote from @Sam Su:

Quote from @Anthony Therrien-Bernard:

Quote from @Sam Su:

Hello Everyone,

I am looking for opportunities in Calgary, multi family preferred. Just wonder if anyone knows how the rental market is? Is anyone investing in Calgary? How is the cash flow? Can anyone make some comments? Thanks in advance.

Hi @Sam Su

I am an investor-focused Realtor in Calgary and I have been investing here for 10 years. There are still lots of properties that cashflow nicely at 20% down payment, I have one cashflowing at close to $1500 a month but those are extremely rare,however $300-500/month is still quite common. I've been focusing on suited homes as they tend to cashflow better but there are still decent opportunities with larger multi-family.

Hi @Anthony Therrien-Bernard, thank you for your info. Can send me some of ones that you think are good? I will DM you my email.

Of course, I'll message you when I get your email

0 Votes

Quote from @Sam Su:

Hello Everyone,

Hi @Sam Su

3 Votes

Quote from @Stevo Sun:

There is about 7 of us or so in the WhatsApp group. We are planning on getting something together after Calgary Stampede is over. If anyone else is interested please dm me their details. The following information would be helpful to see what people are interested in and preferences for time/location.

Name:

Interest Area/Topic:

Current Profession: (obviously doesn't have to be real estate related, but would like to know if we do)

Contact Number: (I will use WhatsApp to message and organize)

Preference Location/Time: (i.e. NW, Sunday afternoon)

Hi could you invite me to the what's app?
Name:
Interest Area/Topic:
Current Profession: Real Estate Investor, Investor-Focused Realtor
Contact Number: 403-863-5327
Preference Location/Time: SE/SW (but something central would probably make more sense for everyone) afternoon

0 Votes

Sorry I know I'm not bringing in helpful information but I just had to say it: What a mess you have in Québec with landlord/tenant laws!

0 Votes

Quote from @Stevo Sun:

Quote from @Anthony Therrien-Bernard:

Quote from @Jamie Blair:

I just finished listening to BP Episode 605 with Christian & Cody where they spent some time talking about reaching out and connecting with multi-family property owners that they're interested in. They find the name of the building owner by going to the tax assessor (for property taxes) website for the county their interested in, plunking in the address and voila. I gave it a try myself on a random US property and it worked well!

But how do you do this in Canada?? I know that all land is registered and documents are kept with the Ontario Land Registry Office, but all documents seem to be behind a paywall. I did a search on my own property and voila, there's my name! But the government charged my $33.80 for the info! ouch From what I've read in forums, it used to be cheaper, around $8, so not sure when the price increase occurred, but at that price, it's pretty hard to justify casually looking up properties and make cold calls for that price.

Does anyone know of any other strategies? (Aside from simply going to the building, bugging a tenant, and trying to get the info from them!)

In Alberta you can use Spin2 to find title information

Cost is $10 + gst (last time I used it)

Yes which isn't bad at all, you can do free searches but it will not display the owner on title

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Quote from @Jamie Blair:

Does anyone know of any other strategies? (Aside from simply going to the building, bugging a tenant, and trying to get the info from them!)

In Alberta you can use Spin2 to find title information

2 Votes

It depends on your financial situation and what kind of property you are trying to buy. I would start by talking with a mortgage broker, if they can't help you then I would check out the local credit unions

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Because it could have an impact on the price of the property (higher interest rates obviously mean your return is lower, less cashflow etc) however the truth is much more complicated as if rents keep rising, or inflation stays strong the property values could still go up despite rising rates, but everything equal rising rates alone would cause real estate prices to go down

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All Forum Posts by: Anthony Therrien-Bernard

Anthony Therrien-Bernard has started 23 posts and replied 268 times.

Post: BRRRR Illegal basement Suite Refinance

Post: BRRRR Illegal basement Suite Refinance

Post: Investing in Calgary

Post: Investing in Calgary

Post: Looking for Meetup Co-Host in Calgary Alberta

Post: Payback period of Cash for Keys offer

Post: Finding a property owner in Canada

Post: Finding a property owner in Canada

Post: How to find out how much mortgage I can afford

Post: Comprehension Question Regarding Interest Rates