All Forum Posts by: Samuel Sedore

Hi all,

I'm a new member to the forum, although I have been listening to the BP podcast for almost a year.

I live in Vancouver, BC, Canada. This is one of the least livable places in the world in terms of housing prices. In 2015 alone, price of detached houses have gone up by 20%, reaching to 1.2 million on average.

I am very interested in real estate and want to create passive income. However, I cannot find any cash-flow properties in the local market. Maybe I am missing something that can make things work. I would love to hear from you how to invest.

The last thing I would do is buy a property hoping it would cash flow in 10 Years.

I personally think the high markets will crash before 10 years.

I'm sure glad I chose the market with the highest appreciation AND the highest cash flow.

I have a property in Kansas city that is currently rented and a home that is under going rehab. Would like to re finance the rented home. I am having a difficult time finding financing in the Usa, I am Canadian living in Canada.. any suggestions?

@Paul MacInnis

Credit does not flow quite as easily here, but this strategy can be and has been used ... it's really another variation of using the 0% financing for appliance purchases offered by HD and other big-box retailers.

The key is, you need discipline and redundant strategies to ensure you pay down the card before the 0% (or low interest) period ends otherwise you find yourself with the original 50K credit card bill, plus the interest that had been deferred, all wrapped-up in a 18% interest rate ... it would be like time travel back to 1983 ;-)   

Naturally, the credit card company is banking on you slipping-up.

@Samuel Sedore If grandma needed investment advice I would tell her to come on BP and make an account.  But she doesn't want investment advice, I do.  No more owning - no more landlording - yes to luxury one bedroom apartment on the first floor.

@Bill Gulley - OK Bill - sorry for the personal touch but hey I thought it was better than posting - Hey Biggerpockets - even tho you guys talk about it all the time I still don't 100% get seller financing.....  Fact is I get the concept of seller financing in a big picture.  I just wanted to see if this situation was a possible use case.  

I also wanted to see some seller financing PITCHES - where is the pitch?!  Take grandma out of the scenario if you need - how do you approach someone and ask if they will consider SF and make it sound sexy and show them how both sides are winning!?

Here is how my thinking started - My grandmother (we have a great relationship btw) has this monster two family - it needs a ton of work - she doesn't want to do it - she doesn't want to be a landlord anymore. Now either she is going to go out find a contractor pay him $$$$ to fix it up --- find an agent --- have a 1000 showings to try to get top dollar. Or you sell below market value to one us fancy bigger pocket reading real estate investors who are willing to do the work bc this house has a great ARV and will rent for $3,500 / mo.

My thinking was how can I be THAT INVESTOR in this situation.  Get gram the hell out of the big house she doesn't want to be in - and add a property to my portfolio.

@Aaron Mazzrillo Thank you for recognizing the LARGE QUANTITY of Grandma real estate advice on here.

I'm new to investing and am wondering where some of you guys are investing in Canada. Did you stay local or invest in another city? Thanks and best of luck to you guys in the new year!

Yes private money lenders sorry. Thank You!! 

Hey Alan,
Good to see some activity on the site from someone in my area (Coldstream). I'm currently working two jobs; an apprentice with pj devries and fix n flips at night. This is the first house I've flipped. This thing had mouse holes, cracks throughout the slab, 2 corners that needed to be jacked up.. some landscaping drainage issues and a lot more.

Hello Friends, 

My Name is Paul Watson and I am an aspiring Real Estate Investor. I am a graduating student from Ryerson Universities Urban and Regional Planning Program and my time here has ignited a passion for the real estate investment industry. At BP I have been learning much of the basics as well as some work in the real estate industry. I look forward to speaking with and meeting with you, and wish everyone the best of luck with their deals.

Paul Watson