All Forum Posts by: Meghan Chomut

Hi Sarah! Welcome you are in the right place :) I'm in Ontario too! Thunder Bay.

What is the market like in South Eastern Ontario? Have you purchased your 1st property? How's it going?

@Oren K. I'm curious about this ledger account. Can you tell me more about this?

Hi! You are in the right place. Just keep listening to the podcasts + asking questions. 

As a CFP I would recommend working backwards. If retirement is 10 years away, what does your future income look like if you do nothing. Is there a shortfall? Is there excess? 

If there is a shortfall what kind of extra income do you need to make you whole again? 

If there is excess how can you leverage that future cashflow NOW to invest in real estate today?

Good luck!! We're all cheering you on!!

The Option A is for a reno in your existing home?

Heather Jarvis is a student loan expert. Maybe she can help? 

http://askheatherjarvis.com/

@Prince Soriano - Great pace!! October is a great goal. I would love to see some before + afters :)

BRRR is do-able for sure with Canadian financing terms. Do you have properties already? Or a principal residence?

As for commercial properties, that's where it can get a bit tricker. I'm finding that commercial lending is a bit of a nightmare, so I'm actually avoiding properties > 5 units for right now. The appraisals are out of this world expensive, the lending is a circus and nothing is seamless and I'm getting different answers depending on who picks up the phone. Awful.

@Prince Soriano - feel free to message me here or on my website anytime! It's Sept now... did you and your friends make your "rent out by Sept" goal?

When I bought one of our units, I told the seller the same thing. I would buy it, but did not want the tenants. I'm not 100% what he did, but I have a feeling he let them know he was selling + gave them 90 days to find a new place (plus a little $$ incentive). But I'm not sure the legal implications of this. The tenant was happy to leave, so it worked out, but be careful

I have a form I use for evaluating properties based on the rental property calculator. 

Or are you looking for something more renovation expense checklist?

I can send it to you.