All Forum Posts by: Bayard P.

 Toronto is not in the same class or league as these cities.  Don't get me wrong Toronto is a large international metropolis but not even close to these Megalopolis cities in terms of population, density, demographics, economics and geography.  

@Jay Hinrichs

A house being sold 3 times in one year through assignments?  If that's not an example of irrational exuberance, then what is?  How is that good for a healthy/balanced housing market?  There are now whole swaths of empty houses in Vancouver and Toronto being bought where wealthy foreign buyers have no intention of living there. Neighbourhoods are meant to have people living there; seeing people tending their lawns and gardens,  a senior couple taking an evening stroll,  a young couple walking their dog, kids playing up and down the street.  Empty houses do not make a neighbourhood, it's the people living in them that create a community that do.  

Not predicting a US style housing crash but the question remains how will people react when the momentum seizes and starts to go the other way.  I just wonder how people like the below broker will react? 

excerpt from article

“It worries me a lot that this could all come crashing down. I worry about it all the time,” said one Re/Max agent, Khalid Hasan, who said he owns or co-owns 15 to 20 properties, all destined for resale.

Forget real estate if you want that type of risk/reward situation buy some shares in a junior oil or mining stock.  Cash out in 1 or 2 years.  

You should probably ask yourself how much "risk" you are willing to take vs how much "reward" you want in the end.  Especially if you are using borrowed funds.  

 "The real estate technique fuelling Vancouver's housing market"

Keywords to take away from the article.  

Brokers, Foreign buyers, Assignments, Flipping, Tax-Free Loopholes, Greed

Today's word of the day is foreshadow.  

Fore.shad.ow

verb

be a warning or indication of (a future event).

 Thanks.  I will look to contact them.  

Does anyone know any good local banks or credit unions in and around Huntington, Long Island, NY? Banks that are investor friendly, looking to refinance or HELOC. Thanks.

Found this website littlebighomes.com.  It has charts and detailed statistics on house appreciation for 380 city/metro areas in all 50 states going back 30 years.  Anyone ever check this site out?  Seems like the information is legitimate.   Anyone can verify there numbers as accurate?  If it is, I believe this website could be a good research tool for all US real estate investors.   

I've had the same issue but I found  know some great agents and a great property manager in the area.  PM if you would like their contact info.  

 I posted a topic about this on BP about this about 4 months ago.  Don't know how to link to the forum post.  See title of forum post.

 I've heard the process can be lengthy as well and the property needs to be in a market their sister/affiliate bank serves.  

@Curt Davis  Is your lender a private lender and do they do commercial residential loans?  PM with more details.  Thanks.