All Forum Posts by: Thomas Lorini

I invest predominately in Hamilton Ontario. Deal are getting harder to come by but still around. Just takes more time. When I say deals it's not comparable to many US markets but you can still find decent cashflow.

@Riley Bohar congrats on your current success! Canadians investing in the US have limited options.  Some Canadian banks have US locations on the East coast that will qualify Canadians for mortgages based on CDN criteria. Talk to your current lenders and ask them if they lend for US purchases...most probably don't but you should ask around. I know people who have pulled equity out of their CDN property and bought all cash in the US...Florida I believe.

Regarding the exchange rate...my thoughts are the US dollar is not coming down to CDN par anytime soon, so that is a def factor.

I'm not a tax expert but there are things to consider being a foreign investor...taxes can be raised at any time...can be significant.

Thomas

Also google search Mark Loeffler an agent/investor focused on Hamilton Ontario wrote a few books on Rent to Own.

I actually bought my first rental off him. 

All the best. 

Hey there! Many people invest in Ontario including me. Its not too late...Just need to know what to look for.

Happy to help if required.

Cheers

Hamilton and Aurora

Wish I could pick up properties at the prices you have been finding lol...

Cheers. 

Awesome!!

Originally posted by @Account Closed:

@Thomas Lorini

That's definitely one of the more impressive cash flow returns I've seen in Canada, well done!

Thanks @Account Closed! We closed on that semi this past March. We also closed on a 3 bedroom condo last Decemeber for 127k and it too rents for $1200/mth plus utilities.

Another example is our 3 bedroom single family we bought a few years ago for 142,500k and it rents for $1600/mth.

I'm bullish on Hamilton for several reasons...the growth of the city, influx of jobs, low vacancy rates, prodevelopment, recent approval for LRT, and many Torontonians starting to realize standard of living is considerably less for only an hour away....

Happy to help or answer questions.

Cheers.

As I mentioned to William in another thread..I invest in Hamilton and have found decent numbers in a growing market where rent rates are increasing and vacancy rates at all time lows....Hamilton. 

Most recent purchase was a semi 136K rents for $1200/ mth plus utilities...I have friends investing in Barrie and others in Collingwood that cash flow well. 

Cheers. 

Cdn banks like RBC and TD have US branches only in the east coast ....for west coast purchased you will have to find a US lender...I know one particular lender located in Arizona who have a specific program designed for CDNs looking to purchase property in US.

HomeOwners Financial I believe is their name...

Hey William,

It's getting tougher to find properties with great number but not impossible.

My latest purchase was a free-hold semi in Hamilton purchased for 136K and rents for $1200/mth plus utilities.

Regards

Thomas