All Forum Posts by: Chris Walters

@Chris Ferreira @Mike Dizgun Hi guys, sorry for te very late reply. I’ve been very busy with work and trying to find property. I had found RSW and PWC. I had initially contacted RSW, but after leaving a voicemail message to one of the accountants, it took e days for another accountant to contact me. Despite his politeness, half of my questions were answered and the first agent who I thought would call me back was out of town and supposedly had the answers that I was seeking. I am not trying to bash their company or anything. It’s just that in my books, first impression means a lot. According to their website, they seem to have a lot of knowledge, but I am not sure if it’s al for fluff.

On another note, PWC is a big firm that has many clients. They do have accountants that deal with real estate. It is simply a matter of making sure you get in contact with the right person and vet them thoroughly.

Hope to hear from both of you and if you found anything on your side.

Originally posted by @Michael Branco:

Hi I’m new on here, is there anyone from Montreal/LAVAL Quebec Canada area on here?

 Hi Michael,

Welcome to BP!

Hi BP! I need help as to know whether or not it is normal for a landlord to ask a new tenant for their bank info (bank name, branch address, account number). The landlord is willing to accept post dated checks, therefore, i am not sure why the bank info would be required. The landlord also asked for a deposit and pieces of ID. Location: province of quebec Thanks, Chris

Hi BP! I need help regarding my analysis excel sheet. I also use BP analysis tool, but usually start with my excel sheet when analyzing properties in order to get a quick idea of the property's ROI, cashflow, etc. Would you please take a look at my excel sheet in order to tell me what might be wrong. Please message me if interested, becausei am unable to post the sheet from my mobile phone. Thanks, Chris

Regarding the part where you said you paid off the tenant, I am not sure I grasped that part very well. Can you please explain. Thanks

Hi Jeffrey! Welcome to BP! Your story is very interesting. In terms of the inheritence, it really depends onthe two others' mindset and financial situation. As long as it doesn't cause any arguments. If they need the cash, well then I would say to simply buy them out. A trust is not a bad idea if everyone is on the same page. I do not know the full details of trusts, therefore I prefer to not give any advices regarding that. I personally would try see if buying out the other 2/3 would be helping others and on the other hand it would be an extra asset for myself, however, it would have to be fair for everyone and all parties will have to agree obviously.

@Bob Okenwa Thanks! Your advices are greatly appreciated :)

Hi BP! Anyone from the Montreal area who can direct me to a website where I can getrenovation quotes. If you do not know of such as website but can give me average prices, it would be greatly appreciated. I know the contractors would need to visit the peoperty in question, but i am simply seeking quick help. Issue are: roof, windows and bricks. Thanks

Welcome to BP Dean! Let me know if you need help with anything!

@Account Closed Hi Elias, refinancing is a good way to go if you have good equity. Some people do seller finance (seller already paid off the property in full and is willing to act as the lender). It can be interesting for the seller because the sale is cover over many years, therefore permitting him/her to pay less taxes on the sale. The terms will be decided between both of you. In many similar cases, the seller often charges a higher rate than the bank would, but once again that would be negotiated between both parties.

There is also private lender, but I would keep that among the last options because the interest rates can be much higher.

There is also the option of partnering with someone.

Many people will go the conventional way until the bank says "no more". Then you either try to find another bank or try another one of the methods.

Let me know if you need help with anything.