All Forum Posts by: Chris Baxter

@Maysa Tsang  the east coast has all the same recreational and nature options that the west coast has, and comes with the added bonus that people are generally very friendly and community minded. You trade lower cost of living for more snow. You should really do you homework and learn more about the rest of the country that you live in; its an easy cure for ignorance (I'm not saying this to be mean, but more as a matter of fact). 

As mentioned by @Jordan Perry the REI market in bigger centres has become a seller's market of late. If you are considering investing there, you really need to visit, explore, and identify whether opportunities exist that match your needs.

@Danielle Leo investing only in your home market means that you have limited opportunities.  I haven't / won't invest where I live as it doesn't meet my criteria. Investing out-of-market isn't difficult and you eliminate the hassles of active management. 

@Anna Korishch Welcome to BP. You'll get lots of insights on this forum as there are many ways to make MF investing work. Many markets have changed dramatically in the last year, with CAP rates dropping as new investors poor excess cash into REI. I've seen my preferred market (Moncton, NB) where we own 29 MF doors severely impacted and I am looking elsewhere for our next MF investment.

@Brian Silvestre I'm not confident the RTO model will work here either... The rent to price ratio is so out of whack, that you'd have to go 75% above market rent to get any cash flow out of the deal. Why not invest in a market that makes sense?

You have a name and an address... use https://www.canada411.ca/ .  Most people don't list their phone numbers though, so connect with people via social media.

If people don't want to be contacted you won't find their number.  You can find my office line, but likely not my personal number online, and that's just fine with me.

You can look up property owners here:

https://servicesenligne2.ville...

From there you'll have to do your own research to get a phone number. 

@Jeffrey Kay  unfortunately, nobody can make that decision for you, but it's important to make sure this doesn't prevent you from getting started. Here is a workflow that can be useful:

1. Pick a market based on metrics that make sense to you. Some of the metrics and filters I consider are
   1. Price to rent ratio
   2. Price per door
   3. No rent control
   4. Up-trending and diverse economy

1. Build a team in your chosen market with lots of interviews (ideally in person)
   1. Realtors
   2. Property Managers
   3. Local mortgage broker or lenders

1. Identify the type of property you are looking for (as specifically as possible) and share that with your team
   
2. Be prepared to take action as soon as a property that fits your criteria materializes

@Jeffrey Kay a $80K down payment at 20% LTV average gives you the power to acquire a $400k property. What's your end goal? Why are you investing? What does cash flow mean to you, and how much of it do you want? You can but $80k down on a $160k condo in the valley and it will cash flow, but you can also use that same $80k to bi a 4-plex in the maritimes or a 6-plex in some US markets. Lots of options to consider.

@Account Closed  if the numbers don't work (which they often don't here in BC) walk away. Also, when doing your analysis, forecast out a few years where your rent stagnates but expenses increase. In a condo, you'll see condo fees and property taxes go up, but you won't be able to ever catch up on rent. Welcome to the world of rent control, where tenants expect their cost of living to remain forever unchanged while evil 'rich landlords' subsidize their housing

@Daniel B. I've found that good property managers have the pulse on the market and can provide access to pocket deals when their owners sell a building.