All Forum Posts by: John Brown
John Brown has started 3 posts and replied 12 times.
Post: Almost 2 years into being a buy-and-holder - 18 units & a full time job
- Chemainus , British Columbia
- Posts 12
- Votes 1
good work!
Post: Turned a $52k condo into $6250 in rent / month. Forget 2%, This is an 8.3% PROPERTY!
- Chemainus , British Columbia
- Posts 12
- Votes 1
wow awesome, taking notes haha!
Post: Question about Selling a Multi-Unit Rental Property
- Chemainus , British Columbia
- Posts 12
- Votes 1
Originally posted by @Josh Caldwell:
Pike
First off, not everyone reads BP, we are weird, we are the rare few who work to educate ourselves, with the goal or making a big pile of money. There are many fools out there who know nothing about real estate, and those fools throw their money away on bad deals every day. So if you concern is that nobody will buy your property at market value in the future, then you have no worries. The market value is the value at which someone will buy a property. Just because you and I and everyone on this forum can spot a deal does not mean that every buyer even knows what to look for in a deal.
The second half of your statement needs a bit of a revision. You do not need to sell your property when you go for bigger and better deals. There are other ways of pulling the equity out of your property. You can refinance your property to pull equity out, you can create a note and sell that note off, which does the same thing but without a bank, and you can pledge your property as collateral for a loan with some lenders.
The most and I would argue most important feature in an investment property is current cash flow. With cash flow, you can deal with market crashes, neighborhood declines, and a host of other unforseen problems, that people who invest for appreciation can not survive. If you cash flow is good then you have locaed a good property.
To your success
Josh
Awesome advice
Search your local area on BP and connect with them. They will more than likely know someone to refer you too. Good luck!
Post: hello from your northern neighbour!
- Chemainus , British Columbia
- Posts 12
- Votes 1
yeah I have been listening to them all morning, they are great! @Account Closed
Post: hello from your northern neighbour!
- Chemainus , British Columbia
- Posts 12
- Votes 1
thanks @brandonturner
Post: hello from your northern neighbour!
- Chemainus , British Columbia
- Posts 12
- Votes 1
i read it when I signed up, Thanks though tried to set up a keyword alert and it hasn't went off yet. The tag was pretty obscure though so I'm not too worried about it. Only have 5 so have to make them count! And how do I tag people?
Post: hello from your northern neighbour!
- Chemainus , British Columbia
- Posts 12
- Votes 1
hey everybody I'm just saying hi. Im from Canada and am in the learning phase, will be for about a year I think. I don't want to rush in and am currently unable to "get in the game" haha. Just wanted to say howdy! I am interested in rentals and maybe a dew flips to get started, have a good one!
Post: hello from your northern neighbour!
- Chemainus , British Columbia
- Posts 12
- Votes 1
hey everybody I'm just saying hi. Im from Canada and am in the learning phase, will be for about a year I think. I don't want to rush in and am currently unable to "get in the game" haha. Just wanted to say howdy! I am interested in rentals and maybe a dew flips to get started, have a good one!
Post: I'm not able to act right now, but you might be!
- Chemainus , British Columbia
- Posts 12
- Votes 1
I found this property in newfoundland and I thought it could be a good thing. The property can be found here- http://realtor.ca/propertyDetails.aspx?PropertyId=...
I did some basic numbers and they looked good. But I don't know how to share my spreadsheet :). There looks to be insignificant repairs with probably around 4,000 to update and make desirable. But once again I have not visited it and do not plan on it. Just thought I would post it so someone else could check it out. Have a good one