All Forum Posts by: Kris Bucci

Green mortgage team.ca

Find a REI savvy mortgage broker. I know they will get you at or close to 80% LTV if you are using standard residential financing. We use Kyle Green of Green Mortgage Team in Vancouver. They work mainly with investors around the nation like yourself. They helped two of my JV partners out of Toronto this past year. Note I don't get any kickbacks for recommendation.

@Jeremiah Akindele I know you have had a ton of replies, but I wanted to chime in and provide another point of view.  We too attended the free workshop, paid a couple K for the 3-day workshop and then were up sold to the membership.

For us this investment has changed our lives.  In the two years since investing 25k+ we have purchased almost 2 million in Real Estate both personally and Joint Ventures (Canada market), both my wife and I have left our previous careers to make real estate our full time career and we are on track to build, sell/hold another 2.4 million this year. 

Did the REI guru do this for us no, could we have done it on our own, maybe... did I use the free resources at BP as another resource to make all this happen. Yes!!!

What I’m saying is everyone is different. For us the 25k investment gave us the motivation to take action. But I know many others who spent the money, did nothing and called the guru a scam.  In the end it’s up to you and how you use the tools you are given. 

Good luck...

Kris Bucci

Victoria B.C.

Krunal have a look at Joint Venture partnerships on BiggerPockets.  Essentially that’s all this is and it’s done everyday.  I do it with investors who put up all the money and and down payment.  Maybe just offer your family member a small percentage of the profit on sale.  In JVs the financing is usually worth 20% or so...  either way yes it is very feasible, just look for a lawyer and mortgage broker who is knowledgeable on JVs. Good luck 

Hey Paul, we invest in areas around Victoria and it is absolutely possible to Cash Flow around here.  The only caveat is you have to be quick because the area has been found by investors, but if you can acquire the right property your looking at Cash Flowing around $1000 per month for a $600k home. We currently have and manage 3 homes that fit this model. 

Jasmine, first off welcome Canada and secondly welcome to BP. For the past couple of years we focused on purchasing near turn-key properties both personally and with JV partners.

We have decided to move into the development side for the next few properties. We live just outside Victoria and for us we believe we’ve found an area where it makes sense.  We feel we can buy land and build a 3up/2down duplex for under 500k, with the after repair value around 625k.  Basically we should be able to refinance all or most of our down payment out. As well, these properties would rent for 4K + out here giving you over 1k cash flow a month. 

All in all depending on your land cost and ARV, I feel it can be a great way to get into the market.

I’ve been using TenantCloud.  Free and simple to use.  I still track finances with spreadsheet, but I like spreadsheets. 

Sounds good!

Recommend finding a local meet-up if possible, meeting like minded people and those who’ve done it before is amazing at keeping you motivated and getting a jump start.  If you happen to be in Victoria, let me know and I can set you up and personally would love to chat. 

@Lanny Boyer send me a PM.  We live in Langford and are active Investors in Sooke, as well my wife is a realtor specializing in investment properties.  I’d be happy to help, and to answer your question yes Sooke is a growth market and depending on what you are looking for in an investment property I would highly recommend in investing in the area. Send me a PM with an email address and we can connect offline, where I can provide you much more assistance.  And welcome to Canada!!!