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All Forum Posts by: Lisa Lavie

Lisa Lavie has started 15 posts and replied 98 times.

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Philippe Laurin:

@Lisa Lavie, in case you didn't know you're the Success Story Spotlight of the day in today's BP newsletter :)

 That's awesome. I had no idea. I don't think I get that newsletter. :-/ weird. Can you forward it to me if you still have it? Would love to see it... [email protected] is my email address.  Merci Philippe

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42

@Danny Rosario Thanks so much Danny, I appreciate it. So happy to have 3 under my belt thus far... can't wait for the next one :)

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @David Henriquez:
Originally posted by @Lisa Lavie:

Thanks a lot @David Light :)

 that is my dream!congrats!.i want to land my first property with a hard money lender and flip it.i'm very good at marketing and finding solid leads.starting to build buyers and seller list.how would i go about finding distress properties 

 Awesome!... The best way to go about it is looking online, driving through your neighborhood, talk to local agents, etc. I always look online first & look at the pictures. My goal for these properties hasn't been to find distressed properties because I love finding properties that are easy to rent as is without much or any work at all however once I start getting into flipping, I'm going to be scouring to find the worse properties hheheh :) and the best way to do that is look online, I also look at craigslist listings. Best of luck with everything.

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Stephanie Dobbs:

Congratulations!! And good job with a spin off of the BRRR! I look forward to achieving the same successes some day!

Stephanie

 Thanks so much Stephanie! :) I appreciate it. Good luck with your future deal!!!

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Claude Diamond:

Congrats & Question for Lisa: Does the property cash flow, break even or have a monthly loss after the accumulated loans-taxes-PITI ?

 Hey Claude, Thank you! The property cash flows. For the time being, I allowed the previous owner to live in it for the next year covering all expenses & barely making cashflow but next July once he moves out after mortgage, taxes & insurance the property will cashflow a little under 300$ a month. :)

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Carlos Ruiz:

Great job @Lisa Lavie! I am currently exploring creative ways to use equity to finance future investments! Did you lender required 2-3 months of cash reserve for your current properties in addition to 6 months reserve on your new property?

 Hey Carlos.. Thanks a lot! They actually didn't require any cash reserve to move forward with this deal. It was done so smoothly and had no hiccups along the way. I feel very lucky!

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Philippe Laurin:

Congrats @Lisa Lavie! That's an awesome deal! Is that new property in Chateauguay as well? How much does it rent for (if you don't mind sharing)? 

 Hey Philippe, How are you? Yes, it's also in Chateauguay. The previous owner still lives in the property, I offered him to stay in the property for the next year if he'd like & he wanted to. In doing so I rented it to him for a lot less than I would typically rent it for. He's renting it for $1100 which is right above how much the expenses of keeping that property is (after mortgage, taxes & insurance)... Next July when he moves out, I'll be fixing it up slightly & putting it for rent at $1300. It will cashflow roughly 300$ a month starting next July. I've tested the market for that house to see if renting that type of property out for $1,300 would be feasible & it is!  :) How are things going on your end? Any new deals?

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42

Thanks a lot @Jonathan Andersen

Post: NO MONEY DOWN! :) Just closed on my 3rd property...

Lisa LaviePosted
  • Rental Property Investor
  • Montreal, Quebec
  • Posts 100
  • Votes 42
Originally posted by @Dea Chu:

@Lisa Lavie

 It sounds like you've found some interesting ways to buy property with very little money down! I have some money to put down, but can't seem to find houses for a decent price that will cash flow well. Do you find being in the real estate industry really gives you the inside scoop? Do you have any advice for someone looking for a good deal who is not in the industry?

Hey Dea, Thanks a lot. The way I found this property was by being very patient & waiting for something interesting to pop up. I always search in my own area. It makes me feel a lot more comfortable because I know my market really well when it comes to SFH, so I tend to stick to what I know. I literally search MLS listings everyday and keep tabs of whats on the market, what sold, etc Your area may not have cash flowing properties, maybe you have to go a little outside of your neighborhood. :)

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