All Forum Posts by: Jim Johnson

Never tried it. I have usd a mortgage broker though and they were able to shop the different banks and credit unions. they get me a great mortgage. What were you hoping to do the a bouncy of loans.  Jim Johnson

Hi I'm am a investor in Winnipeg and other cities and have read a lot of different books. There are a lot of good books out there and each one give one or two more things to think about when investing in real estate. Are you a flipper of property or do you like to buy and hold or new to investing ?  When finding a book to read see which one talks with all aspects of investing so you have a good idea how people are making money in different areas.   Jim Johnson 

I'm in Manitoba  and 4 units is considered commercial, I think so you have to use licensed trades people as well as city permits for any repairs.  Also if it's commercial there maybe more restrictions on increases in rent. Check with the city to find out what they call it.

Second shop around for your best interest rate to keep your costs down .           Jim 

Hi when the returns are low like they are in Canada, the best thing to do is invest in houses that can be switched to more rental income . Example renovating a large house into a duplex, or a water or fire damage house into a liveable house again. Then renting it out for a better return.  I just bought a 3 plex with water damage and renovated it. It was a cheap price 170,000 and a 105,000 renovation. After all expenses there was a 1600 a month return or a 7 per cent cap rate.         Best of luck. Jim Johnson. 

Don't forget insurance and double check on utilities that aren't covered by condo fees.