All Forum Posts by: Thomas Lorini

@Olivier Pare yes it's not easy to find cashflow deals in Canada but they are there. Need to look in markets like Hamilton, Barrie, Kitchener, Edmonton, Calgary, Ottawa, Victoria...i personally invest mostly in Hamilton. My latest purchase a few weeks ago was a 2 bedroom freehold townhouse listed at 129k I was able to get for 106k. After modest Reno will rent for $1000-$1100/mth. Cashflows

But it took me time to find this type of deal and negotiate with a motivated seller. 

Let me know if I can help in any way. 

Welcome Anthony! You've come to the right place. I invest in Ontario. If you need any help please let me know :)

welcome to BP! Although I live in California I invest in Canada. Happy to help in away. 

One thing to keep in mind is the Canadian market is considerably smaller market than the US....making it a bit more of a challenge to finding deals. 

Tenant/Landlord laws differ province to province. 

Lenders work differently. Need to know where you stand in terms preapproval. 

Need to determine area/niche of investment. 

@Kyle Albert thats going to be tougher...I would ask Cam as he lives in Hamilton 

@Kyle Albert Absolutely...Cam McCarroll of Harbour Properties. Just do a quick google search and you'll find his info. Let him know I directed you to him please. 

To much success!!

Hey @Kyle Albert latest purchase was in Crown Point West area...by the Tim Horton's Field which is starting to really change and also close to Gage Park....CPW and Crown Point East by Ottawa have potential for cashflow...just takes alot of time to find and you need to make offers...alot of them....also try making offers lower than listing....you never know what sellers mindset/situation is...thats what we did on this last place and it worked. Let me know if you need any more help!

Great story! Thanks for sharing. 

@Kenneth Noronha welcome to BP. I'm an active investor in Hamilton. Student housing is great for cashflow but requires significant amount of work and upkeep. For your first rental and you're in school it will be a challenge.  I don't want to completely lead you away as it's a great idea to invest and have others pay for it.  

Regarding price points Hamilton has increased significantly over the last 5 years but opportunities are still available. 

There are plenty of properties in the $250k range and just to give you an idea my last purchase last week was a two bedroom townhouse for 106k. 

Of course if you want to be right by the McMaster it will cost you more so I would consider looking 10-15 mins away. Plenty of options.   

If you need an agent or any other referrals let me know. 

I'm always on the look out for new opportunities and talk to potential partner/investors all the time. When I find a good deal I get in touch with my network and see who is interested. If any of them purchase one of my finds and I don't put any of my own money in the deal I ask for 10% of the net profit after selling. Would this be considered wholesaling? If buyer decides to hold on property we would appraise the property and determine the current net profit and then they would cut me a check. Anyone done something similar?

I'm always on the look out for new opportunities and talk to potential partner/investors all the time. When I find a good deal I get in touch with my network and see who is interested. If any of them purchase one of my funds and input non money in the deal I ask for 10% of the net profit after selling. Would this be considered wholesaling? If buyer decides to hold on property we would appraise the property and determine the current net profit and then they would cut me a check. Anyone do something similar?