All Forum Posts by: Rodrigo Parada

Hi everyone.  Investor currently living in Laval but investing in a few places in the Belle Province.  I think now that COVID has somewhat settled here, we should look into setting up a meet.  Who would like to participate?

Let me know.

Rod

Hi all.  Investor currently living in Laval holding properties on the north shore of Montreal.  Always looking to meet like-minded local investors.

Best bet at this point is cash for keys.  Get a conversation going with your tenants, explain the situation then see what arrangement (amount) can be agreed on.  

Everybody's got their price, just might not be what you were thinking...  :)

Hi,

I had the same thing happen to me in one of my purchases.  Inspector found the vermiculite and I had it tested in a lab.  After we got back the results, we negotiated a price drop with the owner.  So in your case, make sure it is indeed meeting the required level to be considered an issue and then negotiate.  I think a price decrease of 5 to 10k is fair.

Now, as to whether or not you would need to actually tackle the issue, that's another story.  I have been told that if you don't touch the vermiculite, as you've also mentioned, then you're fine.  However, due diligence if you end up going forward with it.

That being said, if the owner doesn't budge even if you confirm that it is indeed vermiculite, then I would re-evaluate the deal itself.  I don't think this would be a major issue to reconsider a deal if it meets all your other criteria but it's always good to re-evaluate with newfound info. 

I personally am not that worried with the issue itself and see it more as a potential negotiation point.  The test costs less than 500$ and it can potentially end up saving you a nice chunk of change on the purchase price.

Good luck and keep us updated.

R

Good job Bharath!  Looking forward to it. 

So up to now, we don't know why?  Anybody on the forums care to share the info if they have it?

Hi BP!  Looking for fellow Real Estate Investors that have been able to go through the acquisition of a property with seller financing in Qc.  

I've read up on VTB, vendor take back mortgage, but am unsure if there is another alternative to offer to a potential seller.

Thanks!

No.

Hello BP!

Looking to contract out this part of my business and am looking for any suggestions for a property management company in the greater Montreal area. 

Buildings in questions are all less than 4 units each. 

Anything would help.

Thanks!

Hey Philippe.

Whole selling does happen in the GMA.  I would reach out to Luc Boiron to get more info. I've been added to his list for properties around the area and up to now, it looks great.  Haven't done a deal yet with his team but from the looks of it, it's promising.  

https://www.biggerpockets.com/...

Good luck and let me know how it goes.