All Forum Posts by: Jason Shackleton

Hey @Eagle Yeh

I see you are living in the GTA and had it listed as one of the markets you are considering. Nearly impossible in the GTA. I had an off market Triplex come up in the GTA. I would need to get a REALLY cheap seller financed mortgage, vacant possession to renovate all units and a good PP. Even then the numbers are not great in my opinion. More or less a POSSIBLE appreciation play at that point.

Hey @Chad U.

I am referring to a different company. I try not to promote any specific company on BP. 

Hi @Tinh Marcus Pham

I am a fellow Canadian investor. You live in the most expensive market in canada. It is hard to crack into. You are likely best to look at more rural areas. However even then you will have a hard time finding cash flow. It is still possible in Canada but getting harder and harder.

I have a bunch of Canadian Clients that are looking to shift their investing into the US. They generally have their appreciation play in certain major Canadian markets. Then they invest in certain US markets for cash flow. If you are looking to invest in the US I can help connect you to some contacts that are very experienced in this area.

There is a ton of stuff to consider such as proper entity formation, understanding the tax implications, picking a landlord friendly market and undertaking how lending works for foreign investors.

I hope this helps,

Jason

Hi @Victor A jimenez

I have not. However I have connected with a company that intends to do this. I am going to run a deal through their platform. The potential here is big. I will let you know how it goes. Just remind me in a few months to reach back out to you.

Thanks,

Jason

@Kara Leboeuf 0% interest wow that is amazing! Good for you. He must have been very motivated. 

Hi @Rebecca E. The real answer is no one knows. I would imagine MeetKevin was saying the same thing in 2020. 

It really depends on your mindset and strategy. If you are thinking long term, you buy on good terms and cash flow the short term market has little effect if any. If you are a flipper market movements matter much more. 

I was not invested in 2008 however I have a contact that went broke during that time. He like many others had too many properties with little equity that did not cash flow. He was then in the forced sell position at the worst possible time to sell when the market turned.(He has since recovered to build a massive portfolio that cash flows really well). Many investors that were not over leveraged in 2008 and had strong cash flowing properties in good markets did just fine, they likley still hold many of those properties and were able to buy more at that time. Likley because they were not overleveraged were well capitalised and had lots of cash flow to take the hit. 

All of that being said I am still looking at an off market Triplex in one of the most expensive cities in my market. I don't love the deal but with the right seller financed terms it can still fit my long term goals and be a good investment even if a massive correction were to happen. 

@Account Closed stated, using commercial lenders based in the US is another option for you to consider. At the moment however many of these options have a limited LTV of 60%-65%. One is at 70% currently. Some also require previous US mortgage experience. If you do intend to use this personally for more than a few weeks out of the year, commercial is likely not your best bet.

Good Luck!

Hi @Nova T.

That is a really tough spot to be in. As you mentioned most want to see property values in the $75k-$100k range. I know one option that will go down to $50k per property. However they are expensive. Also each property needs an appraisal of $50k. If the appraisals come in low the properties under that amount will be pushed out. There are individual options that go below $50k but they are expensive too.

Good Luck!

Hey @Steve Scasta

That is good advice. You will pay the least amount of interest on a primary HELOC or refi. Commercial mortgages are more expensive so if you have the ability to avoid one that's good. Also once you stabilise the asset you can get a better mortgage in the future in it if you like.

Hi @Anthony Pierce

I am sure each franchise will have their own set of guidelines for minimum population. Also if you are looking to buy the commercial building where the franchise will be located, that lender will most likley have a minimum population guideline too. 

Good Luck!