All Forum Posts by: Brent Byers

So D Have you moved forward on a rental property? I too live in SUDBURY and have several multi prop units here. If you need specific help let me know Brentbyers at Royallepage dot ca

Yes the banks will limit your borrowing after 3-5 purchases as the risk goes up. What I have found works is to leverage...both your existing properties for Equity but also your other Assets- then you can open up new borrowing abilities or you can even self finance based on the equity you extract. If you have good deals leverage relations too as peeps will invest in you & your deals as you move along! LLT and Tenant Acts in Ontario are tough but picking your tenants wisely & screening really help.

Rental income is just like any other but it is paid up front without taxes, until the year end. At that point if you collected EI or MatBenefits you may have to pay some back. Hope that helps?

As a RE Broker I can access Title on any property...voila a name and address. Direct mail works well to get their attention Brent Byers

Hi - i will be in Sarnia over Cmas this Dec 23-26...can anyone recommend a good MultiFamily Broker or Agent that will show me 5-6 Units...4plex preferred??

hi - wondering if there is an Equivalent to the 1031 exchange in Canada - or more spec in ONT?

Can i defer my Cap Gains to some other item, purchase or method?  Please say YES!!

Hi @Richard Burke - Score!!...where did you find the Condo - both location (East of Hwy 95) and who/what source?   Have you been looking for a Bit?  

Great Post - i too would be interested in a SFH or decent Condo in the Fort Lauderdale area - a Fixer that would provide cash flow as a Passive Rental Property, so close to the Coast and major City. If there is an Agent/Broker that would be interested in messaging me back, we can start a search. Realize that this is not likely going to work if you are Brand New and if you don't really know a lot about Rental or Fix and Hold - high standards for my Agents!!

thanks,

hi @Claire Batraville - How goes the SEARCH??

i too have been looking in Florida for a Condo or SFH, originally in Central but more recently in Fort Lauderdale area. There does seem to be a large number of places for $30-40K (condo) and $90-120K (SFH). AS stated by @Andrew Davis and others, beware of the Condo FEES...they are killers.  

Also be aware that most of the SFH in this range seem to be in rough or major reno shape. Some look like Katrina when thru the House.

Not having an Agent - is a mistake in my opinion, they will help with Good vs Bad Areas, price comparables, setting up contractors...but you need to find a Good AGENT.

Thanks, 

Brent Byers

Hi  

@Annabelle Lee as well, someone that has a Brokers Title, indicates that they have taken more Courses...typically the more driven, knowledgeable folks in the industry, as it is quite easy to get a Sales Rep License today.  Any Monkey (Myself included) can do that.  Realize that a Broker of Record is a totally different Beast than a Broker...for another discussion ;)