All Forum Posts by: Matt Geerts

Hi Adam, feel free to add me on BP and send your email address or phone.

Matt

Bank mortgages for single and duplex owner-occupied are 5% down, and for three and four-plex you need 10% down. Of course for either of those you still need to add your legal fees ($700?) and land transfer tax (1%-$250), and don't forget your utility hookups, etc that'll come to potentially a couple hundred depending on your utility billing history.

Alternatively, you can find a KILLER deal, get a 100% funded private bridge loan and refinance with the bank either as-purchased or after some repairs to boost the appraisal. This is the BRRRR method, but the 'R'ehab and 'R'ent are actually optional - just beneficial.

@Jon Kepler she said the adjudicator wouldn't even let her speak. Just kept cutting her off and then dismissed. This was somewhere in the OLW facebook group. 

Everybody loves cash for keys. Landlords and tenants.

Sorry for the short notice! 

As usual, Tiger Jacks at 6:30pm. Newbies welcome. 

What have you been doing for the past month and what's your plan for the next month to move your investing business forward? 

What do you need NOW to break through the wall?

Prepare a couple answers and maybe your business will start kicking some *** the following month.

People from Hamilton, Kitchener, Waterloo, Guelph, Toronto, Brampton, etc are welcome to make the drive and learn how to invest in London for cash flow.

See you then!

1-2 units: 5% minimum down payment

3-4 units: 10% minimum down payment

If there's a known bad tenant, move into their unit. I would get an N11 (voluntary move-out) from a tenant before I'd ever renovate and offer it back to them at the same price. That's such a stupid law that encourages people to let apartments rot away. You can get the N11 by incentivising, but you'll probably have to do better than last month's rent.

Ideally you could use private money to BRRRR your way into a 4-plex. You'd be well on your way to being set for life.

I just read about a landlord in one of my groups that had a case thrown out because after two phone calls to LTB confirmed she needed two copies of her forms, the adjudicator told her she needs three. Case dismissed. Start over with a new N4 form. Months wasted.

Graeme if you are thinking of investing in Ontario, please read the RTA twice. Once to learn to, and once to figure out how a tenant or the LTB could ruin you with every paragraph. 

It isn't a long document, but it controls your ability to stay in business.

Not bad. I'll sort that out eventually. For now, I have found Podio export to Excell, Word mail merge, Print as PDF. 

This is free and lets me do batches, too.

Thanks @Bill Carovano !

Am I reading the Globiflow "plans" page correctly? I can ONLY use globiflow if I have a Podio Premium account? I also read in the help files that it is only if you have 5 users in a premium account.

Spending my start-up dollars wisely means putting them into marketing. This may shave 30 minutes off of writing a contract, but an excel sheet to mail merge will shave 25 minutes off and its free. I'm okay with spending the money on this when I'm sending >10 offers per month perhaps, but I'm not even getting 10 motivated seller calls yet.

Are there any free methods of getting a Podio seller's details into a purchase agreement?