All Forum Posts by: Ryan Cavasin

Thank you for the feed back @Ned Carey and @Curt Davis, i will forsake take your advise into consideration

Hello BP,

So I'm living at home still with my mother, my grandfather is getting older and were planning on moving in with him. His house is dated and my mom wants to do renovations before we move in which will cost approx $15,000. She wants to keep her current house and rent it out, after all bills it will cashflow $450 a month ($1600 rent-$1150 bills). Once moved in, she won't have any living expenses (my grandfather won't charge her rent) and she will have $450 cashflow coming in. She said she can't afford a $15,000 renovation so i proposed a deal.

I would give her the $15,000 for the renovations in exchange of $200 cashflow per month. From my perspective I get a 16% return on my money so im happy, my mom lives for free and has a updated house ontop of getting $250 cashflow a month ($450 minus my $200 cashflow) and my grandpa has people living with him so he's happy.

I want different opinions if this is a good idea for me, 

Thanks!

Whats up BP,

So i found a duplex in my area that just  hit the market 2 days ago, It's list price is $179,900, it needs a lot of work but it's currently being rented for $2,115 (unit 1: $1,265, Unit 2: $850), cashflow is very high if i used a traditional bank. The issue is banks won't look at me because I just purchased my first property so I'm turning to hard money.

The question I have is, lets say I use a hard money lender and I want to fix it up while there are already renters in there, do i have to wait until the lease is up? or can i do renovations while renters are living there?

Thanks.

Hello BP,

Is anyone from the Niagara Region area (Ontario, Canada) who knows a good area for a flip?

Thanks

Thanks alot @Joseph Firmin, I appreciate it!

Hello BP,

So I'm from Ontario, Canada and am going to be purchasing my first rental in a month or so, I really love real estate and want to do this frequently (every few years) I'm just worried about financing for the future. I will have no other debt other then this mortgage if this all goes through. In a year or so when i'm ready to do another deal how will i get loan from the bank?

Thanks,

Ryan C

Thank you, I'm looking to be somewhat passive, i want to hire a property manager. 

Thanks for the advise,

Ryan C

Hello BP Members.

A family member of mine passed and has a property that will be divided into 4. I will be receiving approximately $60-75K once the property is sold. What do you think the best RE investment I can make. I'm a Canadian but am open to US markets.

Thanks,

Ryan C

Hello BP Members,

I'm  just wondering if anyone knows of a highly-rated Canadian/US tax attorney that I can ask about tax write offs, lease agreements, etc. I'm from Ontario, Canada and am looking to invest in the NY area. 

Thanks!