All Forum Posts by: Gurjot Grewal

 Researching online it seems POS inspection is still in effect. Im seeing mixed things about water/sewage, could you comment on if youve found this to be true ? 

Do you find these make it more difficult to find cash flowing properties in decent neighbourhoods? 

@James Wise Great read thank you. I've read some of your other posts on BP and they have been very informative.

@Remington Lyman Is it still common to find good cash flowing deals, in decent neighborhoods in Columbus? 

@James Hamling Thanks for the reply. I understand the point that you're making. I'll add twin cities to my list of areas to research. 

@Tyler Lingle In the next month I will dial the focus onto one specific market. Indianapolis does seem to fit what I'm looking for. I'll be sure to reach out over the next few weeks once I've fully committed. 

Where I live the median home price is around 1MILLION. Even out of province the prices and rents here don't compare to many US markets. This has lead me to pursue this new challenge. 

I have about 80k saved, and make about 10k a month with very little expenses. With investing I am looking to eventually replace my monthly income, to allow me to work less. 

Cash flow at this moment is my main goal. Of course I dont want to invest in a market that will go down in value, so the basic metrics of growth are something im looking out for. 

What markets in the US have a low entry point while still giving decent returns ? Im currently doing a deep dive into Indianapolis, kansas city, cleveland, Columbus, and Michigan. 

I would love to here others experiences! Especially if youre currently investing or have bought recently.

My plan is build my team in the chosen market. First 1-2 buy more “turn key” build momentum then take on a rehab project. I do also plan on taking a flight and meeting my team in person. 

 Thanks for the information! My goal at the moment is cash flow. Im hoping to transition into a part time position at my current job if I can get enough cash flow. Sounds promising ill dig deeper into this! 

 Thanks for the reply Ron. Did you make these purchases all cash or were you able to get financing in florida ? 

The market I had chose to invest in Canada (around halifax) is seeing a bit of a shift. With rates continuing to go up and putting downward pressure on this market, I do not want to rush into a deal unless it absolutely makes sense. In the meantime I have been looking at foreclosure listings in a few states and it seems like you can get some great deals with all cash. Realistically I could put around 100k into the deal all cash. My thought process is this, buy an SFH 80k, reno hold, and rent. When the rates start to shift (my guess in a few years) refinance and reinvest.

Does anyone on here have any experience or insight on this route? 

I do understand I may have to set up a corporate structure for tax/legal purposes. The next step would be to talk to a cross border accountant and lawyer. But would Love to here anyones experience doing this, if its even possible. 

Hello BP,

From some podcasts, I have noticed investors putting a combined 5%  a month towards repairs/cap-ex. I have been using 10% for cap-ex and 10% for repair separately, 15% if it's an older house.  Am I way too high on these numbers?

Monthly Expenses

• Mortgage
• Property Tax
• Insurance; check if you need additional flood, earthquake insurance
• Vacancy 3-10%
• Repairs 10-15%
• CAPex 10-15%
• Prop Manager 7-12%
• Utilities: Depends
• HOA fees

Typically I have been adding the mortgage, tax, insurance, 35%(the combined total of expenses) to quickly assess if something is worth looking further into, or using a property calculator. 

@Leon Doucette if you dont mind me asking, in those areas are you finding deals going above asking ? 

Hey BP,

As a new investor, i’d love to hear where other Canadians are investing in 2022. Also what kind of properties are you targeting in your preferred market?

Hello BP

By nature I am cautious person. Before making any decision I need to understand everything that can go wrong, and have a plan if those things do happen. 

My question to you experienced investors is, if the worst case scenario happens tomorrow...

- what is your plan? 
- do you have an exit strategy? 
- buy hold wait it out? 

If you had invested in a market that did crash hard in the past, what was your experience during this time?