All Forum Posts by: Adam Goyette

Hey all,

so i currently own a duplex and a 4plex. I currently live in 1 apartment in the 4plex. Rents from other 3 units cover the mortgage and utilities. So i am close to living for free!

my question is, is it more worthwhile to get another tenant in MY unit and i go out and buy a house/ condo for myself which i would have to pay mortgage on but would be subsidized by new cashflow from 4plex. Or do i stay where im at? I am looking to expand my portfolio but i do not want to move every year!

any help/ input would be wonderful

thanks

Hey all,

We just recently posted one of our newly renovated units online.

There is a Ukrainian refugee family that is very interested in renting the unit. They are willing to pay to pay for the first three months right away. The Dad says he wilk be getting a job as a mechanic and the mom says she will be washing dishes at a restaurant. The rent is $2000/ month so i worry they will not be able to make payments down the road with not the highest income jobs. Also not able to do a real background or credit check since they just got here from Ukraine. Does anyone have any experience in this situation? Should i move forward with them or pass?

Any help is appreciated

Thank you :)

@Rick Albert

Great advise! Thank you

@Tristan Gardner

Thank you for the advice! I will ask locally! :)

Hey all!

I've owned my duplex for roughly 5 years, I am looking at renovating one of the bathrooms and front entrance to building for sure since they are in definite need of repair. Everything else in the property works, but is older and "could" be redone or spruced up defore I get a refinance. I know the main three areas are kitchens, bathrooms, and master bedrooms. Is it worth fixing up the kitchens and both bathrooms at the same time and get the money back in the refi?

Any help is great!

Thank you

Hey all!

Me and my Gf live in Ottawa Canada and are planning on buying another property. We are planing on buying a house with a large unfinished basement and convert it to be another unit. What are the main differences between a SDU and a legal duplex? What are the big cost difference other than both needing to be separate meters? Does being a legal duplex bring in more money for the refi?

Any help is amazing! Thanks in advance :)

@Jonathan Greene

I bought my first duplex 4 years ago. Took me this long to be able to afford my second. Would like to ramp up the pace is all. Definitely long term game, but still like to move up :)

Good afternoon everyone,

I recently purchased my second property. (1st being a duplex, and now a single family home) it has 4 bedrooms and is a great size. It is about 1hr out of the city of Ottawa, Canada. I will get the keys in about a month!

I am still contemplating what the best way to go about this deal is. It has great rental ability and won't have a problem getting positive rental income each month without dropping too much money in it other than just updating some flooring and some paint. Although rental income is great, the comps in the neighborhood are not much higher than what I paid for my place (some exceptions), so doing a brrrr on it might not be the best stratagy? I would like to scale as fast as possible and would like to use OPM as much as possible.

What are the best ways I can use to move up as quick as possible?! Any help is amazing thank you :)

Keep in mind I am in Canada so some American rules don't apply:/

Hey All!

I recently refinanced my duplex which is also my current residence. I have also chosen to take the path of Brrrr investing to continue down my investing path! As excited as i am, i am still stuck with analysis paralysis as it seems. Since i live and am investing in Ottawa Canada, i am curious to see how other local investors have managed with the Brrrr strategy around Ottawa and surrounding areas. 

I am most curious on how a Brrrr will fare during a recession, if i renovate a property and market crashes should i just hold it and refi once market comes back?

whats the best way of finding specific laws & regulations in my area with having to search for it throw my cities websites? 

Will i need to become Incorporated or a business to pass capital gains if i do this more than once a year?

These questions may be basic but are part of the reason i am stuck haha 

any help, specifically from local investors is greatly appreciated and i have ordered David Greenes Book on Brrrr, just waiting for it to come in!

@Chris Habets

How is the Cape breton market? How did you pick that location? My concerns with those close markets is the rentability and Tennant quality. I will do more digging on it.

I would like to hear more about your project in Cape breton!