All Forum Posts by: Zorya Belanger

 

There are groups in Vancouver, and I'd recommend connecting with local investors and doing more research about various markets. There are also many on this forum! Search for Vancouver, or set up a keyword notification for "Vancouver" or "Canada" or whatever you like so you see the posts on those topics.

If you are set on the US, there is a book by Richard Dolan called Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians (may be a little out of date, but that's where your lawyer and accountant and other team members can fill you in).

Re the MF facebook group, I'll DM you.

A fellow investor and wholesaler Brendan actually just created a course on wholesaling. Might be worth it to help with learning curve. nofluffwholesaling (dot) ca

 

I would contact the seller's agent. I don't think it's crossing the line. You've obviously made an attempt to go through your realtor, and since that's not working, you need to take on that role yourself now.

@Ryan Sauer I'm really surprised there are no leases in place with current tenants. That is the most basic part of owning a rental property. I would ask for that again, as well as move-in reports. Either way, definitely sign new leases between you and each tenant - they can be fixed term or periodic (month to month). Don't see why you need to back date them. A good lease will have all details like what forms of payment you accept.

Have you not done a walk-through of the property already?

Sorry you've had this experience with the realtor. An investor focused realtor should be your #1 team member and a huge source of info and contacts, helping you through this process, not making it difficult. Who cares if he doesn't like your mortgage broker - he needs to grow up. 

Hi @Leanne Zeng Where are you located and what made you choose Texas? I'm in a MF facebook group and many of those  women took Rod K's program. I'm familiar with MF courses/programs/groups in Canada, but not US.

@Kyle Bateman You don't need to invest where you live, if it doesn't work well there. Whichever market you choose, find a investor-focused realtor, and get their opinion on what strategies and properties work best in their market. Choose a realtor that owns rental property themselves and has pocket listings - a sign of an investor focused realtor. 

Hi @Ajay Sandhu  I don't have experience, but I also have a place under contract that may have asbestos in the floor tiles (and maybe other places) just based on the year it was built. Curious to know what you find out. 

Hey @Yazan Alasad, I just finished building a 6unit new construction and looking into an 8-unit infill project. This is in Edmonton, though I'm sure similar projects can be done in Calgary. I know investors in Calgary who I could connect you with. I'm up for a virtual coffee. Let me know.

Welcome @Bo Dhaliwal! I'm in Edmonton. Former engineer/business development, now focusing on REI full time. My husband is also an engineer, and we're working on transitioning him. That's quite the decision you made to just quit! Interested to hear more about that! If you want to talk about strategies or anything else, we'd be happy to connect sometime. We've learned quite a bit over the last 7 years.

@Account Closed Couple more things! I just read that article about how to buy a property before you turn 21. Just like the legal drinking age, there are many things different between investing here vs. US, so just an FYI. Biggest one is that qualifying requirements are different and always changing, so best to find out for yourself from a Canadian investor-focused mortgage broker, what you will need to qualify, and then do things to make that happen. Yes, you will need income, downpayment, and credit, but all the details about W2 jobs, 3 credit cards, houses that are $200k... not near the UofA that's for sure! ... all of that is different.

I was thinking also that house hacking is just one option, but there are others, and it all depends on you and your situation. Are you going to do some kind of co-op program? Is that going to take you out of town? Will you have time to work part-time during university or just during summer? What's your personality like? Do you even want to live in a house with a bunch of other students? For me as an introvert, that sounds exhausting! I lived with my parents until I graduated, so by then I had saved a lot, had money to travel to Europe for 5 months, and still enough for a downpayment when I got back, and my 6 months of full-time work history as an engineer was enough to qualify. I bought a condo, and that's the only thing I would have changed. I should have bought a house that had the potential to renovate into a basement suite. 

As part of learning process, you're welcome to join the Edmonton Real Estate Investors Association (EREIA) which you can find on meetup. It's free right now to join our zoom meetings.