All Forum Posts by: Tomislav Glamuzina

Morning everyone,

Had a question about splitting percent ownership when purchasing a property.

My downpayment requires 60k and I have 40k to put down. I am considering getting both of my brothers to put 10k/ea to give me the 60k total. Now, Considering I will be putting in a majority of the down payment as well as doing all the work to manage the STR as well as have the property under my name.

Questions:

How do I go about splitting the percent ownership? 

Or should I even split it? 

I was thinking about just getting them to loan me the money and I pay them back with interest but I would like for them to be a part of it as well. I have no idea what would be fair or what consideration to take into account. Any help with maybe clarifying what I should consider would be awesome!

Hey Everyone!

It is a beautiful morning In Vancouver, B.C

Hope everyone is doing well. Just creating this post to hear some of your guy's stories about how your start-off process was when you started doing your first Airbnb rental.

lol I will take any good or bad stories! Also any wisdom learned along the way :)

Tom Glamuzina

Hey Everyone,

Beginner question I have but just wondering what others have done in regards to structuring a deal between multiple partners wanting to invest in real estate.

So, I live In the Greater Vancouver Area, BC, and I am looking to invest in my next property. I wish to bring in some family and friends in order to help me get more of the down payment as well as hoping to get them interested in the process. They would not be doing any work on their end beside the fact of helping with the down payment. 

So, let's say the house is 1m for example. And the down payment required is 20%. If I am able to provide 100k and I get 3 other people to provide me with the remaining 33.3k each, how does this usually get split up if a deal/contract were to be made? 

Any experience in this field would be awesome. Literally have no idea how to structure something like this. Let us say they wish to stay invested for the long run and did not need their money back right away, how does it get split up?

Tom Glamuzina

Hey everyone,

Wondering if there are any STR investors in the greater Vancouver Area that I can chat with. I'm wanting to turn my LTR into a STR but not really familiar with the whole process and if I can pull it off.

Anyone with any experience in the STR game I would love to hear how you started, what you expected and how it actually turned out.

Please DM, would love to hear your success or failure stories haha 😄. Thanks everyone!

Hi Everyone,

Had a question that has been on my mind for a while.

I have a 2&2 condo in downtown Langley, BC. Perfect location, great condo, ground floor, newish building. I am currently renting it out for $2100 and I am breaking even on this property.

I am curious if I should jump into the short term rental game as I heard it can be more profitable. The idea of furnishing the unit sounds really fun to me and also the idea that it could potentially cash flow is also very titillating 😄.

I know nothing about short term rentals/ Airbnb. I was hoping I can connect with a few people in my area to see how the process takes place, how profitable it can be, problems, basically the pros and cons.

My current tenants are moving out soon, so I am stuck between wanting to jump with this or finding new tenants soon to make sure it isn't vacant for to long.

Would appreciate anyone's time. Thanks 😊

@Ellie Nasir

Hey Ellie,

My process went quite well. I did not end up going through with the BRRR strategy for my first purchase because of the high prices and low level of knowledge.

So, I decided to go ahead and purchase a condo, 2/2, with a well evenly split layout. With the intention of renting out half. I ended up renting out the entire unit. Going through the process, even though the brrr strategy seems so much more exciting and titillating, is still great experience for my first investment. Learnt a lot about the general process of working with banks, mortgage brokers, and real estate agents.

I purchased the condo in downtown Langley, British Columbia, in a good neighborhood. Also, did some research into the city's plans and they are adding a skytrain that connects some more of the cities together in the next several years, which is bound to increase the property value in time.

Purchase price was $480,000

Mortgage- $1450

Strata - $350

Property tax - $120/month

Insurance- $ 55/ month

Maintenance (unsure as of now as have no incurred anything)

Total monthly payments- $1975

Current Rental income - $2150

So, cash flow positive. I would assume maybe breaking even with Maintenance ect. With this I was focused with just getting my feet wet with the process and building up equity and possibly appreciation. My future intentions are to refinance and with more knowledge and experience maybe try to invest out of province and do a brrr or just find something cheaper and essentially just find a cash flow positive turn-key type deal.

I learnt that I can't leave everything up to my realtor. Much of my time was spent finding properties with the layout, price, and location I was looking for and sending it over to my realtor to inquire. Also, persistence is pretty important. Given the BCs market, everything is in a bidding war going anywhere from 20-500k over asking, depending on location and property, of course. Fun process nevertheless!

Hello everyone, so i live in Coquitlam, British Columbia, and as many of you may know the market is very hot and very expensive.  

I am planning on purchasing my first primary residence (townhome), to live in ( and rent out some rooms) relatively soon. With that being said, it seems very hard to try to even breakeven on the monthly payment without trying to get too creative.

I am okay with this purchase and situation as I want to live close to my place of work. But, my main question that I have been thinking about more and more is that I want to still invest in real estate but it just seems very difficult given the price of everything. 

Would some good alternatives be investing Out of province for rental properties?

Hi Gail,

I am also interested in this topic for the exact reason. As well, curious to see if anyone has ventured down this path because of the cost of SFH.

Hi everyone,

I had a pretty quick question which I was hoping to hear some different perspectives on. I plan on purchasing my first property soon and in order to reduce my mortgage I will be renting out some rooms individually. 

So, my question is. Has anyone had experience with renting out by the room? Pros/cons, house/apartment/townhome, locations, legality. Curious to hear anyone's experience, maybe what went right and what was something learned. 

Hi everyone,

I am planning on investing in my first property. I live in Coquitlam had thoughts of purchasing a townhome in Surrey. I plan to househack to try and reduce my expenses🙂.

I have two questions for you lovely folk here are on the forums.

1) what are the differences, pros/cons of townhomes vs condos. I'm more asking regarding renting out rooms, which appreciate better etc. ( also thoughts on the Sunshine hills, Newtown, Guilford?)

2) does anyone have experience with Airbnb? I am very unfamiliar with the process but would be interested In learning. If anyone could pass along any information pertaining to this.