All Forum Posts by: Rodrigo Parada

Thanks for the info gents.  Something that I'm looking to do in my next plex.

@Kevin Labonte  What do you mean by contaminated?  That you'll have to pay taxes if you don't use it to acquire new property?

Also, I'm quite happy to see that there's still some action from Quebec BP members.

Rod.

Hello everyone.

I am also interested in joining this group.  BP member from Laval but am willing to share knowledge and experience with the community.  Will definitively join the next meeting when there is one.

Rod.

(Français ou Anglais, qu'importe)

Quick update:

Made my first purchase.  Bought a 4 apartment rental property in July.  Have done some renovations to one of the units, which was empty at the moment of the purchase, and the other 3 units have tenants.

We had some good negotiations before agreeing on the price and we also had to deal with one of the partners being out of the country when the time came to sign the paperwork.

As of now, we're clearing close to 500$ in cashflow after P&I, taxes and savings have been taken care of.   Amount will be going up as soon as unit being renovated is over with and the partner currently living there moves out.

We also had our first scare this past Sunday with one of the units having a minor sewer backup but nothing that wasn't promptly fixed and taken care of.

Anywho, will keep on updating on the project and I am willing to share information or anecdotes to the community.

Until then, keep on hustling BP community. 

Rod

Hello BP community!

My name is Rodrigo Parada.  New comer to BP and to the Real Estate Investing lifestyle.

I currently am looking for my first multi family property while reading as much as I can the wealth of information available through BP.

If ever there's anyone from La Belle Province that wants to connect, feel free to do so.

Happy to be part of this and good luck to everyone. 

Rod