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Updated about 5 years ago,
brrrr questions in Canada
Hello, I am an investor, new to real estate, and I have a few questions that I haven't seen answered here in the forums yet (apologies if I missed things, I haven't read everything yet). My questions mainly pertain to Canadian investing and the differences in a few areas. Do the calculators, specifically the brrrr calculator, totally translate and apply to canadian real estate transactions? And in the podcast and in other places I keep hearing people say they get hard money lenders or put up their own capital or some other form of financing to originally purchase and reno a house and then refi with a traditional lender. Is this the same for folks brrrring in canada? If so, what are the non-traditional financing options? I kind of got the impression from an investor on youtube that he bought through the bank and then refi-ed through the bank as well.
Would you all suggest the calculators here to run numbers on deals, or any suggestions on other tools that might apply more specifically to canada? I've set the goal of my first two deals in 2019 and I'm looking to brrrr or flip and try to get the most out of the capital that I'm starting with. I will be investing in Edmonton and/or surrounding area, If you are from the area send me a message if you want to chat about our market or our hockey team thats teetering on irrelevancy at the moment. Been getting a lot of great info from the podcasts and hope to start taking part in the discussions. Also, for any canadians, is it worth it to get a pro membership on BP, i'm definitely considering it just that most of the perks seem to definitely be restricted to south of the border. Thanks again.