All Forum Posts by: Maz Pardhan

@jeremy, connect with wholesalers who can provide you with off market properties. Turnkey companies are also a good place as long as they can give you comps that show you you're getting a good deal. Happy to recommend if you need. 

@David Baye  Why the focus on Calgary?  As many others have said the Calgary market swings based on resource pricing. My first investments were in Windsor Ontario which is a 6.5 hour flight from me in Vancouver. It was low and rental rates were still strong. Expand your horizons away from your local geography where cash flow is higher and stability is greater. I've also dipped my toes into the US market which has been surprising simple and fruitful as a Canadian. Happy to discuss my journey in out of province investing if you'd like to know more about my journey.

There are quite a few investors who cant fathom buying in a geographic location other than where they live. My portfolio is a 4.5 hour plane ride away, if you have a good team in place, you can work in markets that make more sense. Its good you're looking for cashflow, but you also shouldn't have a situation where your pitching in monthly when something unforeseen happens. Expand your horizons to better markets where rental rates allow you significant cash flow. happy to help if you need to know how i did this. 

Out of state investing is great idea. You don't need to be where your real estate is, especially if you have no skill around this. Real estate should be passive cash flow, not something that you actively manage(unless you really want to). Prices in Florida are insane because its where people want to be, but there are markets where people have to be that have much better returns, you need a trusted team on the ground that can help you buy, rehab if needed, and manage. Ive been working with a team that specializes in Detroit and Cleveland, where the prices are excellent relative to rental rates. Let me know if you need any contacts

Figure out where you want to live is good advice, but you may want to live in a place that maximizes your passive investment rather than in a nice sunny spot. There is some trade off here, but less desirable markets come with better ROI. Detroit and Cleveland might not be the best place to live, but on the other hand it may be close to the healthcare centers you travel to. House prices are low enough that you may not even have to live there very long. But being in these kinds of markets and understanding them better will allow you to buy more places there. Something to consider.

Finding those extremely distressed properties can be challenging as is the rehabbing when trying to ensure that the price point allows profitability. BRRRR is safer especially when you are first starting out, as your rentals provide a more predictable outcome. My first few properties have been almost turnkey (sometimes just lipstick) it allows you to get your feet wet and get practical experience. Mistakes will cure themselves over time with capital appreciation which will allow you to refinance. Don't be afraid to look beyond your local geography. You don't need to be where your real estate is. Happy to share more of my experiences if you need help