All Forum Posts by: Mike Jakobczak

McKellar Newsom If the person is Canadian here are some banks:

Harris bank (bank of montreal) will deal with loans 50% of purchase price but they will want to have a relationship with the buyer first

RBC Centura (RBC canada) not as picky to having a pre-existing relationship with clients and will do up to 70% of loan to value

Washington Federal- minimum investment $50,000 to $700,000 up to %65 of Loan to Value

TD Canada trust-not sure the details but I know some investors have used them.

Andy Meyers I'd first find one area to focus on. Seems like you have a few options to choose from. After that learn the areas of the specific city, keeping in mind price points. Trulia has a pretty good heat map of major cities. Gives you an idea of prices points, also you can see which areas should be up and coming.

The biggest thing you need to do, is start networking with people in these areas. These people are the key to your success since they are working daily and know what a good deal is when they see one.

James Martin Well the main point in the article on Memphis are focused around the rental yields. This definitely backs up what you are saying. Even if appreciation never kicks in a $50,000 property rented at $900/month is a great return.

Are there any areas you focus on? Or are you pretty much all over Memphis?

Mark H. I agree with you on that. I think you definitely need to spend some time getting to know price points in new areas and building a great team to work with that is familiar with local areas.

Just finished reading a article on where to snag a hot deal in the US, which was featured in the Canadian Real Estate Magazine this month. The article talks about areas and list the top ten areas. These were based on many factors such as: Capital appreciation forecast, rental return estimates, and price growth drivers. Here is the list:

1.Miami, Florida
2. Orlando, Florida
3. Atlanta, Georgia
4.Memphis, Tennessee
5.Austin, Texas
6.Phoenix, Arizona
7.Savannah, Georgia
8.Charleston, Georgia
9.Manhattan, New York
10.Baltimore, Maryland

I was interested to hear from some investors in these specific areas. Wondering if the statistics are what they seem. What kind or profits are you seeing, cash flow, etc.

Look forward to hearing your input.

well my thoughts exactly. Majority of investors usually take the conventional way. Which limits them. Just leaves more opportunity for those who seek it.

Listingbook will pull sale comps of nearby homes. This is public record information. But still need to browse through them to see if it's a comparable to your home.

Best option is always to get a agent to pull them for you.

Hope this helps

Some money partners will be happy with a 8-10% return on their money. This type of deal will definitely be cheaper then HML. All depends on the type of partner you are working with. This is what you should be thinking of when you are planning to raise funds. What you are willing to give money partners comes down to what you can afford in the deal. Giving a higher return will create a bigger buzz for yours investors.

Hey john,

Welcome to BiggerPockets!

check out www.holycrap.ca

It's a business that got a deal on the den. They have an update video on there.

Holy Crap!

Yea there's only been a handfull of people who have come on the show that I'd say them taking what the sharks offered was not a good choice. Most of the time, the sharks leverage and experience will take them to new heights.

Another thing that sucks is most deals fall apart in the due diligence period. That's why you don't see too many updates.