All Forum Posts by: Maz Pardhan

Quote from @Amanda Scheller:

Quote from @Michael Dumler:

@Amanda Scheller, @Eric Yu, that's what I was going to advise, link up with a real estate agent who focuses on house hack acquisition. They'll be able to help and point you in the right direction to see if it's even possible to house hack based on your current position and market conditions. Are you currently house-hacking the Saint John property? 

 I won't be able to get a heloc. It is not my permanent residence. so i have to look at other options. I can just use the property to help get a higher mortgage. 

let me know if you have any ideas. 

Thanks again 

 Hey Amanda, fellow Vancouverite here with properties in Ontario. Whoever told you that you can't do a heloc because it's not your principal residence is wrong. I have two rental units with a heloc on each. Happy to introduce you to my bankers who can do it for you, although with rates where they are...  

House hacking is a great strategy if you are planning on living and staying in San Diego. Another option is to invest in a better performing US market and rent in San Diego. 

Have you looked at othe rmarkets?

Fellow Vancouverite here. I think we should lobby BP for Canadian cities. How did the refi go?  Is the property cash flowing? It's been a difficult time with the rates where they are

Hi Bhavik, being in Vancouver as well we both know it's one of the most expensive markets in N America. I started my investing career by looking at Windsor Ontario and it worked out very well. As interest rates have climbed that geo doesn't make sense anymore, in fact most Canadian cities are a losing proposition. Buying a single family home in BC. where the average price is $976,400 would require an income of $194,087 and at 20% down you'd need $194k down. Worse yet, the home would be in negative cashflow. My advice is to not analyze the deal before worrying about how much you'd need. Do this with every property in Canada and see if you can find one that has a positive cashflow. If you need analysis help im happy to help, if your in the lower mainland it would be good to connect with a locale investor over coffee.

Hi Shirley, fellow Vancouverite here, active investor & coach. Living in Vancouver, you already know how expensive it is to invest here and how its ultimately a losing proposition. On your investing journey make sure you open your mind to investing in remote locations whether in Canada (not many places left) or better yet in certain US markets. Happy to have a chat or even grab a coffee it makes sense. Good luck on your journey!

Have you tried Nreig. I do some of my rentals here and they are quite accepting of rentals 

https://nreig.com/

Hi David, i have some family members in the UK that were heavy real estate investors, all have told me that the government is actively discouraging this and the investment climate for such activities is abysmal.  Have you considered investing outside your local geography?

Hey Jessica, congrats on starting your journey. Youve saved a nic echunk to get up and running but fix and flips are difficult as your first projects, namely because you may not have the knowledge or experience in 1)Understanding what a good candidate for a fix and flip is and 2) construction related experience. Going down the BRRRR route might be a better option, it allows you to learn the ropes, get some experience behind choosing the right property, renovating etc. At the end you have a rentable property that is considerably less risky as a first time project than a fix and flip. Consider getting a good team together that can guide you on a market that you can play in with the cash you have(Not California). The guidance will help you identify potential properties, what budgets you should work with. Happy to help if you need more details

Quote from @Drew Sygit:

@Maz Pardhan why aren't you disclosing that you're a paid strategic advisor for  this turnkey provider you want to share, as you disclosed in the thread below?

Planning to start investing in Detroit - any one use Upside investments? (biggerpockets.com)

Thanks Drew, as you mentioned I have disclosed it in previous posts, but perhaps should do so more regularly. 

happy to see others such as yourself advising potential investors on the benefits of investing in Detroit. 

Quote from @Bruce Woodruff:

Quote from @Maz Pardhan:

Quote from @Bruce Woodruff:

I'm thinking something like this as a final look, what do you guys think?

 This looks like a great way to overspend in Detroit. 

Lol, yeah, maybe...sure looks good though don't it? :-)

For sure. I’d live there!

Quote from @Bruce Woodruff:

I'm thinking something like this as a final look, what do you guys think?

 This looks like a great way to overspend in Detroit.