All Forum Posts by: Stevo Sun

My family and I are looking to sell a duplex we have in the near future and I'm wondering to what extent cap rate comes into pricing. 

We are in Alberta, Canada, Side by Side Duplex. Currently NOI is $27900/yr and we want $475k takeaway for it (comps show slightly better SOLDs for 480-525k). That cap is 5.8%. For context, multi-units (I.e. a 12-unit I was looking at last month) are at 5.25-5.5% rate.

Am I not considering something here in our desired pricing? 

Thank you!

Adriano

As the title says, has anyone bought a court ordered sale in Canada?

This unit I am looking at is an apartment in Vancouver BC selling for $600K and is completely trashed with piles of trash and kitty litter bags tossed in the closet. 

Has anyone bought anything like this - a hoarder's house as a court ordered sale?

@Stevo Sun the problem with reddit is that it lacks transparency. You don't know who you are interacting with and you can't easily build genuine connections. I would never personally use reddit for professional purposes (including having investment discussions and professional networking).

Hey Calgary Investors, 

I currently host a meetup in Red Deer that has been awesome to be apart of and I'm looking to be more active in the Calgary and eventually Edmonton real estate communities.   I am looking for 2 things:  

#1 a local co-host to help me set up a consistant Calgary meetup starting this summer 

#2 investors who would be interested in coming.   

Ideally I'm looking for a co-host with local investing experience and connections, someone who is eager to help make this a consistent event and provide a quality meetup. A bit about me - I have experience with Long Term, Short Term, NNN Commercial Rentals and I'm a partner in a local corporation that puts together NNN Commercial JV's with $55M in acquisitions across Alberta.

Let me know your interest and hoping we can plan something for July. 

Thanks, 

Warren Marshall

Hey guys. I'm a newer investor from Alberta, Canada. I bought my first property in January 2022, and since then, I've had other deals come to me but none worth pursuing until now.

I had someone approach me asking if I'd like to buy their property. I know the person well which is why she came to me. It's a 2 bedroom/2 bath house that they gutted and redid about 9 years ago. Everything's in great condition honestly. She's asking 100k, seller financing, 0% interest (not a typo). Basically I'll just pay her every month until there's 20% and then I get conventional financing plus I'll pay her enough to cover insurance and taxes. She does want 5% down though. There's a renter in there already paying $900 a month plus utilities. I know the renter personally and he's a good guy from what I know.

My issues I'm having is

1) I'm a little low on capital after my first purchase plus Renos.

2) I've been saving for a house that I can house hack. I own a large rescue dog that doesn't like people so a house hack for me means separate units. Personally I think eliminating my housing cost would benefit me more.

What do you guys think? Should I take this deal or pass on it?

 In Alberta you can use Spin2 to find title information 

If your rental revenue skyrocketed upwards the tax department would obviously know.  Would they tell your city and if they did your appraisal might rise meaning your city taxes might rise.  (Not what you want!)  I was wondering if this ever happens. 

I think most cities just drive up and down the streets noting obvious external changes as they don't seem to have time to spend a minute doing a walk through and recording it and comparing i with the previous walk through the previous year.  Maybe its got something to do with privacy of the homeowner.  

Of course if permits for the renovations were required that could be used to change your appraised value so we're talking about a hypothetical situation where no permits were required.