All Forum Posts by: Adam Goyette

@Zachary Corum

Yes it does help! Only thing is in Canada we dont have any "local banks" theres only a handful of banks in the country

@Rob Calder

ORIEO was last night. REIN is another one that is available in ottawa!

Hey everyone!

Im looking for guidance in this situation i am in.

I bought a duplex 2 years ago in Ottawa Canada (bought for 350k).I live in half and rent out the other half. I'm also a carpenter by trade and have been working on this property a lot. Speaking with a couple brokers as well as judging by the comps, it seems as though it is now worth around 450k. I would like to move forward and scale to another larger property, ideally i would like to hold on to this property, refinance use the profit for my next purchase. Since i only out 5% down and still have a fairly large mortgage it doesnt leave me with a lot of money to play with.

Should i just sell this place and use the 100k to purchase a bigger investment property or wait a while longer and pay down more of the mortgage before refinancing?

Anything helps!

Thanks

Hey there, 

pretty new investor in Ottawa Canada here! i am interested to see if the Bigger Pockets calculators are used in Canada and if they are as accurate, or if there is anything i can do to tweak it a bit to make it more practical for Canadian use? 

Thanks!

hey guys! I'm from Ottawa, Canada and today i get the keys to my first property, a duplex. Since i max out my mortgage loan and needed more money to make renovations I was going to get a "mortgage plus improvements" mortgage. A week before closing my broker dropped the ball and told me the bank will not lend me any more money. so i am stuck with no further help from the bank. with these renovations done i can easily increase the rent in each unit by 500$ and since i am a carpenter i plan on doing the work myself. What are the best ways that i can acquire more money to renovate this duplex?! (roughly 35k). Any help would be awesome! :)