All Forum Posts by: Ryan Kirk

It somehow feels appropriate that you resurrected this thread from the dead...on Easter weekend.

I like the plan Andrew! I don't know anyone doing wholesaling - otherwise I would definitely introduce you. Best of luck!

Lots of great Canadian real estate podcasts to continue your free education: -Truth about Real Estate Investing...for Canadians -Breakthrough Real Estate Investing -Where should I invest? Real Estate investing in Canada -Your Life Your Terms show -Lifestyle Housing Radio (if you can endure the intro song) That should provide more education than you can absorb in a year! I also recommend Rock Star Real Estate as an alternative to REIN if you're in the GTA...they have a membership group, but also lots of free events for networking. My focus is Hamilton and there's no shortage of amazing professionals, resources, and events to launch your real estate career. Good luck!

Since you evicted the pig, you're now bringing home the bacon!  ;)   

I love that you aren't afraid to tackle big problems, and seem to keep a level head when many investors would get super stressed out and want to cut their losses (hence 3 owners in 10 years!).  Hope it continues to cash flow beautifully for years to come.  :)  

Hi Iain,

I've got 3 properties in Hamilton:

1.  3bed/1 bath upstairs, 2bed/1 bath downstairs on Upper Gage, not legal duplex.  Paying $1313.28/year.

2.  3bed/1 bath upstairs, 1 bed/1bath downstairs in Red Hill neighbourhood, not legal duplex.  Paying $1629.66/year.

3.  3bed/1bath upstairs, 2 bed/1 bath downstairs in Hampton Heights, LEGAL duplex.  Paying $1419.12/year.

Never had to include my personal residence in this...but maybe that's because I don't have one.   

Hi Nino! Welcome to BP and congrats on the Grimsby condo! A couple ideas to consider: 1. Is the condo TRULY break-even? Are you including vacancy, property management, repairs/maintenance, cap-ex, and accounting fees? Sometimes beginners think they are breaking even until it's time to upgrade the kitchen or a bathroom or you have a month of vacancy. Make sure your numbers are accurate. What if interest rates rise by a percent or two? 2. Appreciation is fantastic, and looks strong in the Golden Horseshoe due to macro-economic factors, but a flat market is still possible in the shorter-term. Cash-flow is not only a nice way to make a bit of money, it also protects you through the ups & downs of the real estate cycle. If values decline...no worries if you're cash flowing. But a break-even property is a lot tougher to hold through a downturn. 3. Banks are conservative with their numbers, and they like to see cash flow in order to loan you more $$ for future properties. If you want to grow your portfolio, holding break-even property will make it more difficult. Both break-even & cash flowing properties appreciate in the same market, so why not pursue the latter?

Is this the deal with the pet pig? Haha - can't wait to read about it. Congrats Jacob!!

Aren't flips & BRRRRs two different things?

Has anyone used Facebook ads to fill a vacancy? I'm not into student rentals, or high-end professionals...my homes are average 3-bed places that appeal to a very wide market. Targeting is pretty difficult...it seems you can only filter by geography. Anyone have any tips? Or experience with whether it's worthwhile? Thanks!

Anyone know if this "next-level New Age innovation" is even applicable in Canada? I never hear Canadians talking about depreciating carpet for 27.5 years (kinda gross actually), so I'm assuming this is another '1031-exchange' thing...a great American tax strategy that doesn't exist in the True North strong & free.