All Forum Posts by: Roy Cleeves

5% is pretty much the standard.

Yes, it is easy to do remote investing in Canada as long as you get yourself a good team on the ground where you are buying.  So get a good Realtor, Property Manager, Accountant, Lawyer, etc.

Hi Tarun

We have recently found that in your price range you could find what you are looking for in the London area and West for Ontario or the North.

To find properties that are not on the MLS - you really need to market for them on social media or door-knock them from driving around and finding them.

It is best that you set up a limited liability company which is a regular corporation. 

And you will have articles of incorporation guiding the company and setting out the ownership and directors of the corporation. 

And you should do up a shareholder agreement to define what happens with the company in the event one shareholder wants to sell or passes away, etc. 

Your lawyer can guide you with these items. 

Ensure that your lawyer has some experience with corporate law as well as real estate. 

Good luck. 

Hi Dayyan - I have helped many investors in London.  It seems to still be very good especially if you want to duplex a home there.  You can create value and cash flow.  I will DM you.

You have the steps covered.  Now just go do that and you will learn a lot along the way.

If you want a referral to a good Windsor Agent - just let me know.  Good Luck

I would recommend you connect with a Realtor and explain your plans and then they can do comps for you for no charge and help you.

Hi Meagan:  I think you have the right idea already with regards to connecting.

I think you should also use the time to decide exactly what City you want to invest in and then get connected with a Realtor in that City and start to get listings so that you can get to know the market long before you are ready to buy.

I can connect you with Realtors in Ontario once you narrow down what City or Cities you would want to consider.

You always have to declare all of your income regardless of how high your expenses are.

Get a good property accountant to help you. It is worth the money to have a professional do your taxes - especially as you grow to more properties.

Hi Benny - as a Foreigner if you invest in the GTA there is a 15% Foreign Buyer's Tax that you will have to pay.

And you can set up the property in both your names or just one of your names and use a Joint Venture agreement.  Whichever way is easier for you both.

I have a Joint Venture Agreement that you can use if you go that route.  If you put it in both of your names then you have to decide between Joint Tenants and Tenants in Common as the ownership type.  Best to google that to read the difference between the two.

Good Luck and let me know if I can help.