All Forum Posts by: Account Closed

@Ajay Kahlon

There's one next week called "Harry Stinson on Development, Politics of Construction and Financing". Harry Stinson is an entrepreneur/developer who specializes in restoring major historic buildings into condominiums, hotels or rental residential. It's on Tuesday, September 16, 2014 7-9pm at 215 Spadina Ave., suite 120. It's usually $20 at the door with networking before and after. 

@Ryan Teixeira

I'm looking at family rentals. I hope to start with a couple 2-4 plexes, then go 8-12 so student rentals don't really fit. Are you looking in the Niagara area?

Hi @Ryan Teixeira

I'm in Mississauga also and am looking in the Niagara region for a small multifamliy (2-4 units). I don't attend the newmarket or durham events but I go to a monthly one in Toronto (http://www.meetup.com/Real-Estate-Investments-Club...) that is always educational.

Welcome to BP!

Hi @Tanna Brodbar

Nice to have another local investor here! Thanks for connecting. Have you been to the Toronto REI club? I've found their presentations always very informative.

http://www.meetup.com/Real-Estate-Investments-Club/

I just listened to Grant's podcast about buying subject to. Is this something people have done in Canada? Is it legal and do-able here? What are the obstacles you've come up against, and what works really well?

Hi @Alex Burrows

Welcome! I'm in Mississauga and pretty new here too. Another offsite meeting right in Toronto is this group:

http://www.meetup.com/Real-Estate-Investments-Club/

They have monthly meetings which I have found very useful and informative.

@Nathan Boulet

No, nothing yet. There haven't been any new properties lately. The ones on market (in decent areas) are priced too high for the rents. I'm considering a duplex. Although the cash flow will be lower, it'll be a good place to start. I would like to go bigger (8+ plex) sooner, but need to get my feet wet with something not too scary!

I also haven't had much time, because I take care of my kids full time. My plan is to look more aggressively in St. Catharine's and elsewhere once they start school this September.

Thanks for following up :)

Welcome @Jeff Knight

I'm pretty new here too but good to see more Canadians coming on board :)

@Dale Plant

I have tons of information on evaluating a property, it's finding the area that's been stumping me. This is a good place to start.

Thanks!

@Ming Lim

This will be my first property ever. I live within driving distance of Niagara, so managing a 2-4 plex would be ok. Once I get the hang of one or two, I don't mind buying anywhere in the country and hiring a property management company to deal with the day-to-day running. I think I'd be okay starting out with having someone else manage even on the first property if it's farther away, as long as the numbers make sense. So I'm back to the question of where to invest.

Does anyone have some great reports or sources of general information they rely on to make decisions, or do most people stick within their province?

@Michael Moikeha

Why are 9+ units less risky? Once I hit 5+ units, the loan is based on the property's income, not mine. From what I understand, the deposit is still 20-35%, even if it's a commercial loan.

Thanks Dave, I just saw your other posts in GTA areas. I may take you up on the offer! Niagara looks promising.