All Forum Posts by: Thomas Lorini

@Dmitriy Fomichenko thanks for the tip!

@Ali Boone - based on Dmitriy's tip hope you seen my post above

I've started going through BP podcasts....tons of info!

Hey Ali I was living just north of Toronto in Aurora, Ontario. We don't have the great mountains of Whistler but did our snowboarding in Collingwood. 

I have to say I'm really really enjoying SoCal!! I'm glad to be out of the snow and ice... I hit the Newport Pier for lunch on frequent occasions...feels like a dream.

Your absolutely right about prices in major Canadian cities, really expensive and don't cash flow... however there are still some great areas places.

I've focus most of my rental properties in Hamilton, ON. Great city, with job growth and solid city planning...2% vacancy rates at all time low...solid rental market.

To give you an example I just closed on property number 6 yesterday: 3 bedroom 1 bathroom, freehold townhouse (so NO condo fees) good location about 100 yards from the General Hospital at purchase price of 136k.

This place will rent for $1200/mths plus utility so cash flows around $500/mth.

I manage all my properties myself, yes from Cali. I've got a few contractors on speed dial, I put in solid tenants which I sign up for longer terms. One of my rentals signed up for 4 yrs! Another for 3 years....I'm liking this approach as it saves me the headaches of re renting a property which for me would be a challenge and I save on the PM $$$....more cash in my pocket. So in essence I give up the tiny rent raises [we in Ontario are restricted to (0.8-1.6%)per year] for the PM fees....anyways works for me.

I know others like Gary above who invest in Barrie, Newmarket and Orillia who have had some other great success.

Saying.that I'm still very interested to invest in some US properties....need to figure out which areas and finding opportunities!

Btw I took a quick look at your website...good stuff, i hope to revisit soon...

I've never paid to advertise.

I consistently use Kijiji and its very effective in Hamilton, ON,

I've also had good success with lawn and window signs.

Keep it up...sometimes you need to be patient.

Oh and I feel for you regarding cancellation/no-shows...Ive driven an 1.5hrs through traffic to show a place and the people didn't show....man can be frustrating....but once you have some solid tenants in place, more than makes up for it!

@mark mcgowan great to know your part of the BP communuty...yes we made the move, enjoying and appreciating every day. Thanks for the well wishes all the beat to you as well!!

@chaz Reid thanks for the comment!!

@Larry Reid Thanks I will check those out!

Hey BP members!!

I'm a new member, living in beautiful Irvine California...I can't get enough of all the great information and "real-life" experience that people are sharing....LOVING IT!!

Not only am I a new member to BP but I'm actually new to the US...I've made the move from the north...you know the country where which everyone lives in igloos and rides dog-sleds....you may have heard of our two dollar coin called the "Loonie"...yup I'm originally from Canada.

Being new its going to take me some time to earn a solid credit history to allow lenders to lend me some $$. In the meantime I plan on learning how investing strategies differ here in the US compares to Canada....I started investing in SFH rentals in early 2011 and continue to purchase even from long distance.

I actually just closed my first JV deal yesterday...yeah!!

I am actually consider investing in Canada with US dollars a significant advantage...some of you may not know that the Canadian dollar has dropped to $0.80 compared to the USD....that's a 20% discount right off the bat! Not bad at all....

Anyways looking to learn, network, meet and communicate with other investors across the Board.

To everyones success!!!

Thomas

Wow! Very inspiring thank you for sharing.