All Forum Posts by: Luc H.
Luc H. has started 1 posts and replied 24 times.
Post: 1% rule area in Canada (income properties)

- Vancouver
- Posts 24
- Votes 9
Originally posted by @George Lay:
Hi All,
If you're having a meetup, count me in! I live in the north shore in Vancouver as well and like Edmonton as my go to. Its nice to see a topic relating to Canada versus having to translate everything from the US.
Hey George, i'm North Shore as well. Meeting Victor (next week it sounds like - just finding the best day) and will advise.
Post: 1% rule area in Canada (income properties)

- Vancouver
- Posts 24
- Votes 9
Originally posted by @Kash Jawed:
From what I'm hearing, it's around the same. I did some further research. Although I'm not ready to pull the trigger in Edmonton, I like the buildings around Jasper and my second choice is Whyte (82nd) - Old Strathcona area. I drove around today and narrowed down some low rises.
havnt checked out those areas: im in the south west, Chappelle. Love this area for a bunch of reasons, happy to elaborate if interested! (though not BRRR set-ups which i think is your strategy, places are far too new).
Post: 1% rule area in Canada (income properties)

- Vancouver
- Posts 24
- Votes 9
Originally posted by @Victor Zhou:
@Nathan Chase @Luc H. For sure! I work in downtown, maybe we should grab a coffee or lunch sometime and share our research? Luc, how's your Edmonton place coming along? What's your rough cap rate for the property that you are closing in Edmonton?
I am interested in Edmonton and the island as they are still the capital, so the medium income will support rental income / growth. I am a bit more interested in Edmonton as it's more isolated from the Vancouver market. It will be a better hedge compared to the island as the island's price is somewhat correlated to Vancouver. I have a place in Vancouver, so I don't want my net worth to cut in half by one single event, being the crash of the Vancouver housing market.
@Kash Jawed What about residential rental? Is the vacancy that high as well? For cap rate, will it be able to achieve like 0.7 or 0.8% as a rough ball park in Edmonton? My impression is that housing price took a bit hit after oil price crushed a few years back. Is it still in a down market (buyers' market)?
Have to re-run the numbers so dont know off the top of my head. I had to put down 35% due to bank requirements for the interest rate i got but i am OK with it. Due to this it cash flows ~450$ a month so will add this to the account for the next unit which i am targeting for within the 18 months after closing. Ill send you my personal information in a PM - free this weekend for a coffee. Edmonton has a bunch of interesting characteristics i would be happy to chat about.
Post: Anyone with experience getting lending in USA as a Canadian?

- Vancouver
- Posts 24
- Votes 9
Originally posted by @Victor Zhou:
What's the cap rate like in Edmonton? Does it meet the 1% rule? I am in Vancouver, and have some capital on hand to find my next one. Same as you that I am looking on the Canadian side due to the financing structure... However, US's infrastructure is great as they have zillow and etc...
Originally posted by @Luc H.:
I have done some research here as i intended on getting my first rental in arizona. I have family that own a number of properties down there, that are Canadian-citizens only (as am I). They bought foreclosed units for cash - a no-brainer when it happens (other than the guts it takes to pull the trigger)...
Through my own research you (us canadians) are looking at 7.5-9% interest (on USD funds i might add...making it even worse for ROI), for a mortgage. My own intuition talked me out of this and I have instead hunted across Canada to just find units 'locally' that are on the cheaper side and will cash flow accordingly. Successful in my hunt now, it seems, just finding the right unit for me in the city of Edmonton - many opportunities lie in this city.
Cap rate depends on area and willingness to get your hands dirty. I have the equivalent of 2 full time jobs so really don't need any more headaches and went for the more hands-off option. Sent you a private message with more details.
Post: 1% rule area in Canada (income properties)

- Vancouver
- Posts 24
- Votes 9
Originally posted by @Nathan Chase:
@Kash Jawed. I'm interested in how you did the financing for the BRRRR in the Canadian system. Did you use your own funds or private money up front and then one mortgage at the end? How long did you have to own it before refinancing and what LTV were you able to get?
thanks.
@Victor Zhou. I'm also located in Vancouver. Meet up sometime? I'm doing a lot of market research for the West Coast so I like you am looking.
if you guys do, count me in! live on the northshore, working on closing my first place in edmonton.
Post: Anyone with experience getting lending in USA as a Canadian?

- Vancouver
- Posts 24
- Votes 9
I have done some research here as i intended on getting my first rental in arizona. I have family that own a number of properties down there, that are Canadian-citizens only (as am I). They bought foreclosed units for cash - a no-brainer when it happens (other than the guts it takes to pull the trigger)...
Through my own research you (us canadians) are looking at 7.5-9% interest (on USD funds i might add...making it even worse for ROI), for a mortgage. My own intuition talked me out of this and I have instead hunted across Canada to just find units 'locally' that are on the cheaper side and will cash flow accordingly. Successful in my hunt now, it seems, just finding the right unit for me in the city of Edmonton - many opportunities lie in this city.
Post: New Ontario investor reaching out

- Vancouver
- Posts 24
- Votes 9
I have pondered such efforts too and the work, and added headaches, takes these 'passive' investments to really active in reality. If you plan to scale, i think lower maintenance and lower headache (ergo, newer) is the way to go (for me).
A friend has a 1910 home in Oshawa and has had numerous issues. He is a tradesman so enjoys the work, but much of the house needs constant tinkering or complete replacement - costly in both time, money, and stress. Fine if that's what you are looking for, though!
Post: Any good cities to buy rental units in Ontario?

- Vancouver
- Posts 24
- Votes 9
Originally posted by @Sam Hanaa:
@Jacob Perez : I am new to rental units , so I don't want to go over 150K as a total purchase price for my unit.
and sure lets connect and chat . My goal is to build asset and create cash-flow .
@Luc H. : Thunderbay prices look great, good suggestion, but it is 14h from Toronto, I am looking for max 3 hours driving. Happy to chat too and exchange experience.
Why 3 hours? Unless self managing??
Post: Any good cities to buy rental units in Ontario?

- Vancouver
- Posts 24
- Votes 9
Originally from whitby i have looked at areas in the GTA = no go. Thunderbay however offers some great deals to cash flow, and has support from the university.
Now living in Vancouver, the market also doesnt support the cash flowing-rent style approach. Personally i am buying out-of-province in Edmonton. Major city, great market characteristics, affordable for positive cash flow = many of the benefits of cheaper markets like the east coast, thunderbay, smaller towns like cornwall (as mentioned) with higher support of being a major Canadian city.
Happy to chat, drop me a PM if you want.
Luc
Post: BP Canada - Let's Mastermind to hit our 2018 Investment goals

- Vancouver
- Posts 24
- Votes 9
An update on my goal to have my first property this year! Narrowed down to Edmonton, have been out (last weekend) and am going back again this weekend. Have made a number of good connections with real estate agents and property managers alike.
Submitted my first offer last week; stressful and fun. Learnt a lot in the last 2 weeks just from submitting my first deal (and retracting it after i saw the house) as well as the area(s) i am targeting in Edmonton. Have to re-go over my numbers for house #2 tonight and will likely try again with another property tomorrow! Will post a breakdown of how everything went when i find the final deal...this one could be the one.
If anyone is stuck with indecision: i highly recommend identifying what you can do to move forward, what is holding you back, and jumping in. I have done this in the past 2 weeks and feel 'over the hump' (or at least the first one!). The biggest thing is protecting yourself (speak to a lawyer, confirm what an agent/PM tells you yourself...) so its harder to make a mistake that will hurt :)