All Forum Posts by: Jacob Perez

Luckily sent all mine out a few months ago to take effect December 1st. Government is so petty to even implement this, the rent increase as-is is a complete joke, now can't even recover the pennies lol.

Hey @Vivian Liu - I know Hamilton very well as I've been investing here for 8+ years, I also live in the area of both of those Duplex', great area just depends what you're looking for in an investment.

If you're simply looking to buy & hold with some moderate cashflow in a good area, nothing wrong with either of those choices.

Feel free to send a DM if you want to set up a call & chat further.

Jacob

@Melissa Vass Scott 

Both are good markets, & are very similar to be honest. I don't think one is overwhelmingly better then the other it would really come down to where you come across the better deals.

Long term I prefer Hamilton for sure but it's also more expensive so depending on the kind of purchase you could be better off in St. Catherine if you budget gets you into a larger multi unit in one city vs the other.

Hey @Stephen Pignataro - Another local ontario investor here. BP is an awesome resource to help make the right connections.

You likely have some equity built up in your property which gives you a great leg up to get started.

Feel free to shoot me a DM - maybe we can set up a call to review what options might make most sense for you in terms of investment types, location, etc.

@Yvan Monette - Fellow Canadian Here!

Yes - BRRR method works anywhere if the numbers make sense so it's important you know your market for realistic ARVs & have an idea of construction costs.

My team & I specialize with investors & have helped finance almost 500+ BRRRs in the last couple years. 

Feel free to send a DM and would be happy to jump on a call with you & maybe depending on the markets you're interested in I can point you in the right direction.

@Jeff Shea do you mean lenders as in banks or as in money partners to invest in your business?

I have a lot of experience with both so feel free to send a DM & we can chat on this.

Jacob

lol this seems like hiring a VA gone wrong

Your lending options will always be significantly better when you're buying in a personal name for any property 4-units or less. Make sure you're optimizing the right thing. What matters most to you: Being able to leverage large loans, at low interest, but options like Home Equity Lines, etc. or are you trying to optimize taxation, risk, etc. 

Hey @Paul Neagle,

Great to meet you, BP is a great resource, I've made tones of connections on here & I'm sure you will do the same. Your goals are definitely attainable. Just need the right plan mixed with action.

If your goal is attaining multiple properties, how you approach financing will make a big impact. Feel free to DM & we can review in detail.

@Sheldon Peart - A basic rule of mortgages, is if you want a fixed rate product you do not take it at a major 5 bank as their penalties are literally triple the cost of the other mortgage lenders out there. Also variable rate mortgages penalties are even lower cost then that.

At this point, you have 2 options, port your existing mortgage so you avoid the penalty but then you are stuck keeping your existing rate or, bit the bullet, take the penalty from your proceeds and work with a mortgage broker to avoid this situation in the future.

For a more detailed analysis feel free to DM & I can help.