All Forum Posts by: Ernesto Miguel Credito

Is it not a good deal if you will not be able to get your money back even if you are debt-free on the property plus some remaining cash after refi?

Hi everyone. I am new to real estate investing and BRRRR.

I don't have much capital so I am wondering if it's still possible for a BRRRR strategy to work if I am doing a 20% downpayment on a house and have some cash left for renos?

Will appreciate any advice.

I'm in Canada by the way!

Thank you!

@Account Closed where can one get those "paid informercial"? 

Congratulations! Just curious, does your basement have separate laundry, kitchen, bath and entrance?

Can anyone join even if they don't own any property yet? I just wanted to connect with experienced like-minded people.

@Roy Cleeves can I connect with you here? Thanks!

@Roy Cleeves I honestly don't have a budget yet. I am still saving and in the process of gathering knowledge before pulling the trigger.

I just wanted get some feedback from experienced investors if it's possible for someone to invest there with a limited budget. I am  having a dilemma if I want to live and invest here in SK or in Hamilton where I can have the chance to move because I have a relative there.

@Roy Cleeves, I am a beginner myself and currently reading Don Campbell's Real Estate Investing in Canada. 

I am an immigrant and living in SK for almost 2 years and have a chance to move to Hamilton, ON as I have an aunt there. In your opinion, is Hamilton too hot of a market for a beginner like me to start investing there? If I am to move to Hamilton, my plan is to househack there. Do you think it's feasible or am I better off starting here in Saskatchewan where RE is affordable?

@Eric Leon sorry for jumping in this thread as I am a beginner too. I am green myself as well but I recommend reading Don Campbell as well and Brandon Turner's The Book on Rental  Property Investing.

@Account Closed

As long as it's positive cashflow I won't mind that and work slowly up from there. Thank you again Kris, I'm pretty sure I will ask more questions and message you if you don't mind! :)

@Account Closed

Thank you for your advice. Do you own a SFH or a duplex? I didn't know that you can charge rent for garage, thanks for letting me know! I'm afraid thought that I can't afford to do 20% on a downpayment. I was actually thinking of getting the 5% for first time home buyers.

@Christopher H.

I was actually hoping to rent out the entire property but if I can't do that if I go for the 5% "first time home buyers" program, then I think I'll leave 1 room for me and maybe visit the property every 2 weeks. But I am thinking of doing even a 10% downpayment so that the mortgage won't be high. The thing is I think I won't be able to afford the 20% dp.  I'm in the process of saving funds for the downpayment and closing fees and a bit of cash for reserves and I think it will take me about a year to achieve this.