All Forum Posts by: Samuel Sedore

Do you have a spreadsheet? Email me if so I will see if I know anyone

I would always pass the puck to the tenants. People have a lot more sense when they pay out of pocket, if they don't pay utilities it's nothing for a tenant to leave the unit at 70+ degrees all day when working or leave electric heaters plugged in 24/7

Welcome @Daniel Sparre. I have some connections out in Hamilton if you would like a referral for an investment focused realtor.

Buy and holds sound like a solid wealth building strategy for someone working out of country like yourself. Check meetup.com for some local REI groups in your area.

 I would argue that is much easier to complete using a primary residence as with investments there are more moving parts. 

Although yes it is not simple and like any tax saving strategies you need a prudent accountant and tax adviser, I would never recommend someone try that on their own.

In the same breath to contribute to the conversation about mortgage insurance premiums, I leave it to circumstance. I don't mind paying a premium, but I have also been putting 5-10% down on multi-family units and then moving in an renovating to increase value and rent, as its easy to evict under-paying tenants when you move into the unit personally. The capital is more valuable to me at this point then the long term money saved.

You are going to have a difficult time making those type of deals work in BC to begin with. Although I would also reccomend not using a phone app to analyze deals, spreadsheets are a little better. When looking for this type of deal you need a realtor who also invest, be ready to make offer sight unseen with minimal conditions. You're market is very very HOT right now

@Alex Franks, good advice. Never try to force a deal, you will skip the important details and end up with a loss in most cases.

@Andrew Syrios very astute observation.

@Roy N. Has got the right idea give it 2 months and well all be enjoying the small window of opportunity to walk down the road without face stinging wind, sore backs from shoveling and wet feet. Until then we must hermit away in our offices lol

In Canada you can deduct interest from your mortgage payments, it just requires some shuffling http://kwcinvestor.com/ I have an article about it.

Good Post! 20% of your actions achieve 80% of your results I love that analogy.

Thanks @Roy N., it sounds like Nova Scotia is way more tenant friendly. I don't know how landlords there sleep with a 1/2M rent security deposit.

an alternative may be to approach the lender about letting you refinance with no penalties, they make more money by locking you in longer. I know it can be more difficult to get a HELOC when your mortgage is not with the same institution.

From what I have been reading and hearing banks are looking to try and limit HELOC for investors and investment properties, as they were never meant to be these never ending loans.

I could track you down an Alberta investment focused broker if you would like.