All Forum Posts by: Ryan Kirk

Hi Aiden, are there any mortgages currently on the house?  Or is it owned free & clear?  

When you refer to the BRRRR strategy...are you planning to fix up the house and rent it out? If it's a single-family home worth $800K, you may have trouble cash-flowing unless you add a suite or 2nd unit.

@Alon Rokach I target the East Hamilton mountain. I look for SFH bungalows with a separate side entrance to the basement. ThERE ARE WHOLE NEIGHBORHOODS THAT FIT THIS CRITERIA

The last BRRRR I did in Hamilton, ON wrapped up last December...we took out 90% of our reno costs after the refInance. I was happy with that. It's a long-term hold (think decades), so we did quality work. If we only planned to hold for 5 years, we could've saved money on the renos and possibly withdrew 100% of Reno costs.

@Luc Boiron - thanks Luc! Glad you enjoyed it. Sarah is an excellent interviewer.

I would call Andy Tran @ Suite Additions - he's an expert in duplex conversions. You can find him on his company Facebook page.

Hi Nicholas! Congrats on discovering the power of investment real estate and the amazing resources at Bigger Pockets! That's cool that you listen to Sarah Laarbi's podcast - I was on Episode #12. :) I recommend connecting with the guys at Rock Star Real Estate in Oakville. Excellent local info & network. Makes a lot of sense to invest in areas outside Toronto...Oshawa, Hamilton, KWC etc. Best of luck!

Roy N. - I nominate you to start a Maritimes/Eastern Canada-centric podcast! It's a gap in the market, and I'll bet you'd offer a tonne of value!

Since you like podcasts but want more Canadian info...Sarah Larbi's podcast is called "Where Should I Invest?". There's also "Breakthrough Real Estate" (one host from Oshawa, the other Hamilton), and "the Truth about Real Estate Investing" with a host from Hamilton. I recommend all 3 for excellent interview-style real estate info specific for CDNs.

Just trying to imagine hopping up a ladder with a drill in my hand. People are amazing. You seem pretty worried about the legal side of it. Make sure you put everything in writing and have insurance. Otherwise you'll end up in court without a leg to stand on.

Awesome Spencer! Congrats on the first deal, and best of luck as you go forward!