All Forum Posts by: Harrison Montgomery

@Andrew Dutcher

From what I have seen, hard money will be in the 11-16% range, with 1-2 points. @Travis Hewlett makes a good point, a mortgage broker is probably the best way to find hard money, I called about 14 lending groups and the majority say they only work through mortgage brokers and won't talk to investors directly. If you are seriously considering HML @Owen Langis could certainly help you out, he is an investor as well so I'm sure he would have solutions for you if you are looking to BRRRR or renovate into a house hack.

Hey Andrew, I like the idea of BRRRR, especially if you have any kind of renovations experience or can partner with someone who does. You may also want to consider doing an Agreement For Sale because this would allow you to conceivably do a very low down payment when getting into the AFS, and because of the principle pay down over the AFS term (normally 1-3 years), you would be able to do a much lower down payment when the AFS term ends and it's time to get a traditional mortgage, plus it would allow you to get into a home that you have the right to own while saving up.

Hey Tyler, 

If you factored in principle pay-down and tax benefits do you still negatively cashflow on your property in Chilliwack? On another note, welcome to Calgary (soon)!

Hey Lai, 

I think this is a bit funny just because I am from the US looking to invest here in Calgary! I would recommend doing what Vincent said for sure, I would also highly recommend, once you have found a city you are interested in, try and connect with as many active members from that city and tell them what you can bring to the table or just say you want to talk about whatever it is you want to talk about. Especially if you are doing something long distance it will help to build some connections where you want to invest. Also, once you have talked for a bit try calling or facetiming with those people, it is very different to see someones words on a screen and to actually hear their voice. Hope this helps, best of luck!

Hello everyone! Best of luck in the GTA region, I see lots of people here from Calgary though so I thought I would join in! I am looking to buy fixer upper homes in Calgary, but I am going to spend most of my time finding deals. So anyone who is looking to JV, wants to see any deals I find here in Calgary, or even just wants to talk real estate I hope we can connect!

Hey Chris! I hope more people respond to this thread because I think this is a super important question. As a disclaimer I do not own any properties yet so this is just from me looking at neighborhoods and what kinds of deals they have. I really like Dalhousie, it is close to the train line and there is a good mix of older and newer houses so you can find deals and the neighborhood is desirable, plus it is significantly cheeper than the closer neighborhoods. I also think Huntington Hills is worth checking out for BRRRR because getting a property to cash flow in that area is easier and the properties are less expensive than most of Calgary. I hope this is helpful, please let me know if you think I'm wrong (it will only help me in the future!) or if you want me to add anything. Best of luck!

Hey Jesse, lots of people have recommended Azad Chandler so I will have to check him out. However, I would also highly recommend Greg Wiseman. I have spent lots of time calling realtors and he is the only one who has really stood out. He has done flips before, and can help set you up with contractors, amazing lenders, and great advice. Plus he is happy to go above and beyond to help you and I don't see that in many agents. Best of luck!

Hi Juan, 

64 units already is awesome congratulations! What kind of units are they (condos, apartments, SFH etc)?

@Joe Splitrock That makes sense. I will be branding my materials to build professionalism, and mostly I want to make sure I am not using someone else's name on accident!

wow @James G., this is super helpful thank you so much, this is exactly what I needed!