All Forum Posts by: Brent Byers

Hi - thanks @Jill DeWit for the welcome and great smile!

As for Windsor @Matt Geerts and @Samuel Sedore - i would guess similar to any areas, there are Dumps and there are hidden opportunities (Gems), we all like to target the growing, popular areas - as with Stocks, but best time to buy is when the markets are struggling or ready to rebound, not when they are popular.  

Sudbury was Hot in the 2007-2013, when lots of markets were struggling, but for the past 3 years has been very slow. Some might even say time to Sell it is so slow...but i just bought two more properties - one for $150K(4plex) which was bought in 2013 for $240K. Fully rented and at a 12-16%ROI.

Windsor will rebound - just a matter of when.

AS for Sault SM - the Steel mill (Essar)  @Kellan P. is up for sale and will likely Close. They are one of the last big employers. It too, similar to Windsor has been struggling, some opportunities, but other than the Schools - it will have a harder time to rebound. Not as many companies want to invest in the North unless it is Govern't Asst or Resource Based.

From the Great White North - Brent signing off and Thanks, Eh!!

Hi J - i agree with @Account Closed that Calgary and Alberta is not likely at the Bottom yet, so you may want to hold off or be very sharp on your Negotiations to be 20% lower than offered - find a good Agent.

Second - with the low rates for borrowing, if you are serious about this Road Traveled, you may want to utilize the $$ borrowed and not tie up your Cash in paying down FAST...you are young and leverage of borrowing is a big component.

Last - you are discussing Condos...these are traditionally not the best bang for your buck.  Lots of fees, tied to an Association, often conditions for Renting Units, etc...not to mention that they don't appreciate as rapidly.

Good Luck and WELCOME...; )

Hi - i am a full time investor and Broker of Real Estate.  Started buying in 1996, have owned passive rental properties in North Bay, Sudbury, Timmins, Toronto, Hamilton and now in Niagara Falls.  

Checking out Windsor Ontario now for future rental property investments.

Would like to buy in Florida, but the currency is not an option, to make an investment which will immediately see a 30-40% loss, due to dollar exchange - makes investing in the USA not an option right now.

Rental, own but don't live in it...SFH, never lived in it.

 Hi Greg - you are correct from a Math perspective, i am not hitting the potential cash flow targets to be "positive" but since i purchased it at $194K and gettting $1350/mth pretty close to the 1% target. With the changed Valuation, it has changed my numbers, but that is just a CompMarket Analysis number...so still positive on the Cash Flow. 

Yes - i could buy 2 more properties which would definately Net me more cash flow. One thing that wasn't discussed here is, trying to get a RTO buyer and utilize the increased revenue stream and interest payments that come with being a Lender - carrying the mortgage too...any comments???

 Hi Roy - even with in a Corporation, no Cap Tax deferral??  Crap!

Matt - is a HELOC simply refinancing it with the Equity?

 Hi Paul - i own and rent it out, don't live in it...single family rental.

Wow - Great info and answers from both the US and Canadian investors.   Karp - i was pretty sure that in Canada we had a similar program of sheltering Capital Gains with in a Corporation...?

Frank - i am a long term Buy and Hold investor, but i do realize that at a time we must Sell, take some profits and for me - reinvest in a New Venture with better returns or simply more diversity in real estate.

Samuel - i was an Engineer and 3 years ago went full time into this with only six properties - it is now my Full Time thing, not huge yet but still enough to keep my pockets full...almost Bigger Pockets.

Thanks All - appreciate the Help!!

Hi - i have a big Choice, my single family property in Hamilton Ontario was purchased in 2001 for $194K and has appreciated in Value to around $400K(~12%/yr). The property gives a small NOI (after Mort and all costs) of $150/mth.

I am wondering if it would be better to SELL, take the money - 1) can the Cap Gains be protected and kept for future Property Purchases and not Taxed?

if i sell, it will allow me to pay down some investment debt (at 3.5%) and have enough to buy another 3-4plex with better NOI (~$500/mth);

 2) or should i - Keep the property and enjoy continuing getting ~12% appreciation value and a small passive income;  

The typical return i am seeing with 3-4plex units is NOI of $5-700/mth.

Please make suggestions or comments on things that might help me in making a educated decision, i am confident there are some things i have missed or not considering.  

Thanks,

Brent Byers - Byers Advantage!