All Forum Posts by: Samuel Sedore

I have been told that in many countries foreigner owners can buy property buy you don't legally own the land. Any truth to the that?

 Hey Jay Welcome,

If you're interested in your local market check out meet.com for local REI meetups and or masterminds.

Good luck with your investing, if you have any interest on buy and hold multi-family(2+ units) I could send you some information.

I'am interested to see how your deal goes considering the 5 unit, I have never heard of this. Let me know how it works out and any hurdles you overcome.

 Congrats always good to see another Canadian! If you ever have any interested on my market let me know ill send you some info. We are number 1 in Ontario for growth,

that's not necessarily true at all. You can very easily access your equity as it gets paid down and enjoy the cash any time you want. There major difference is that with a shorter amm you pay less interest over time, I prefer not to give the bank money when I don't have to.

Unless I was using the rental income to pay my bills and eat, I would rather the neutral cash-flow and high pay down. In 1 2 years after purchase I will Refi take out my money and buy another, tax free because I re invested it before claiming it as income.

This maybe makes less sense in the states because your mortgage interest is tax deductible and ours technically is not unless being pulled out and reinvested.

Don't tell people your new that's a way to be taken advantage of, there are more scammers on the internet just looking to rip people off than investors. 

Good start though and good idea, you should get a realtor on your team as well to be able to do CMA for valuation. FIX and flips need you to be astute with your margins and diligence.

Good luck!

 Great comment I agree 101%, I actually find people try to justify cashflow with longer terms on forums like these sometimes. Why in your right mind would you want a property with that little principal reduction does not make sense to me at all, you make the majority of your money that way in rentals.

 Ha-ha yeah we have! It's all a matter of perspective. Some people like to invest in Toronto and van for appreciation in a technically over valued market, others like high cash flow in areas that are technically under valued. While you are right about salaries certain jobs are location dependant and will always be in demand regardless of how un- affordable that area is. I would never buy in Van or Toronto but I also doubt we will see this huge correction everyone keeps talking about, stagnation is more likely.

I feel as from reading these forum post's the U.S has incredibly cheap entry prices that carry great cash flow from day one. Here in Canada, More specifically my market of the Waterloo region. Your first couple years will be tough for cash flow just a couple hundred a month, where you get the return is with appreciation and rent increase over time. 5 Year average is a little over 4% for appreciation combined with your cash flow though, it provides a great ROI.

People will tend to look to the regions of growth and job creation before affordability,  Parts BC and The GTA carry a very high cost of living but also some of the highest paying jobs and best party life in the provinces. People who buy go there to work and invest, everyone else will usually rent for life just to enjoy the lifestyle and proximity the amenities and nightlife