All Forum Posts by: Eric Delcol

Chris Prophater, send me a PM.

Hi Elias, I'm from Toronto but our investment focus is in the US. Contact me for any of your cross border needs.

Listen to podcasts - Biggerpockets is a great start. Learn about the different ways to make money in RE: wholesaling, fix n flip, note buying, etc - then choose one and take action. If you can find a mentor offer your help in exchange for learning the ropes and you'll be well on your way.

@Alvin I belie that's what John has tried but the banks won't finance because it's not worth their time for 80% of 65K and more importantly the new regulations passed after the mortgage disaster allow for a minimum loan amount of 75k I believe? (does anyone know the exact criteria?) The credit union route may be a better option. Another thing you could try John is to do a private note to another investor. You'll have to pay at least 8% to get anyone interested though ..

I'd say let them paint. Make sure colors are approved by you prior to them painting. Whether they do a good job painting or not is neither here nor there because you will most likely be re-painting between tenancies anyways.

Karen Barber wrote "I don't see a bad area in KC" @Karen, either your property manager is "The Rock" or you have never walked the streets of 34th and Prospect at night. Every city will have its good and bad areas but KC has some real dangerous areas of where you do not want to be - exercise caution.

Originally posted by @Daljeet S.:

I'm a Canadian from Toronto looking to expand my portfolio in the U.S., either in New York, Buffalo, Niagara, since this area is about a 1.5hr drive for me.

Hey Daljeet,

Congratulations on embarking into the US market.  Are there any other reasons why you chose Buffalo? 

If not, you may want to consider another city.  Buffalo's population has been in decline since the 60's and most of the infrastructure is heavily run down.

The US market is huge and you have plenty of great cities to chose from.  If you're looking for cashflow I suggest taking a look at Indianapolis, Jacksonville, Kansas City, or Memphis.

Looking for an agent who can help us find buy rent hold SFH's in C/C+ areas of Jacksonville.

Anyone have any recommendations?

Originally posted by @Rachel Bier:

Hi Andrew, I would ask for it to be sold with a tenant in place. 

Add to that - your approval of the tenant application and lease agreement.  

Hi Filipe, You mention you need 5-10k to close the deal - does that account for some funds set aside for reserves? What are your plans after you secure the property? If you want to flip it will you have enough cash for your carrying costs or any unexpected repairs? If not, you may need closer to 15-20k.