All Forum Posts by: Anthony Therrien-Bernard

Quote from @Anthony Therrien-Bernard:

Quote from @Theresa Harris:

I'm in Lethbridge.  I have rentals in BC and AB and they are very different.  AB is not as landlord friendly as BC and doesn't have property transfer tax.  Insurance is a bit higher in AB. Property taxes are also different.  In AB they seem to be about 0.8% of the assessed value. In BC it doesn't seem to be a % of the assessed value (which is good given the price of homes).  Overall property taxes are a bit higher in AB relative to the price of the home.

As Stevo said many of the basics that apply to US rentals, apply to Canadian ones.

I hope you meant that BC is not as landlord friendly as AB!

 Sorry-yes.  BC is very tenant friendly, AB is more landlord friendly.

I'm in Lethbridge.  I have rentals in BC and AB and they are very different.  AB is not as landlord friendly as BC and doesn't have property transfer tax.  Insurance is a bit higher in AB. Property taxes are also different.  In AB they seem to be about 0.8% of the assessed value. In BC it doesn't seem to be a % of the assessed value (which is good given the price of homes).  Overall property taxes are a bit higher in AB relative to the price of the home.

As Stevo said many of the basics that apply to US rentals, apply to Canadian ones.

Good day.  When does it make sense to make tenants pay utilities.  I have this 4-plex on contract and the current tenants have the utilities included in their monthly rent.  2 are paying 650 and the other 2 paying 550.  Which in this case is not cashflow positive.  The quickest way is to increase rent by $50 on the new lease or the tenants pay utilities, divided equally of the 4 of them.  Only 1 tenant live in each unit.

Thank you.

Hey fellow real estate investors!

I'm Alex, an aspiring real estate investor with a background in social media and influencer marketing. I've got four years of experience as an account manager in client services, but my heart truly lies in real estate.

I'm here because I believe mentorship is the key to unlocking my potential. I'm hungry for knowledge and eager to learn from experienced investors who've made their mark in the industry.

I'm highly coachable, adaptable, and thrive on feedback. With my skills in communication and networking, honed from my background in social media, I bring a fresh perspective to the table.

If you're an experienced investor based in Canada, and open to mentoring, I'd be honored to connect with you. Let's learn from each other!

Shoot me a message here or email me at alex(at)affluentimpact.com. I'm available for a call or meeting whenever suits you best. Looking forward to connecting with passionate individuals in this amazing community!

Not exactly a new member introduction; this is a re-introduction.  I live in Toronto.  BP was my first step towards my investment journey.  I got busy taking actions, learning lessons, making relationships and working with mentors the past couple of years.  I realized that I miss hanging out with the good folks of BP and came back to do just that.  (I've been regularly listening to BP podcasts by David Greene and team, though).

I got inspired by everything BP, joined some mentorships, started buying rental properties, quickly did a pivot to flips, and has since flipped upwards of 20 properties since 2021.  Made some money, lost some money, learnt a lot of lessons, made a lot of connections, raised a lot of money - continued to pivot based on market conditions and regions.  Most (but not all) of my projects were in Calgary, Canada.  Now, buying my first flip property in Cleveland.

I just posted this to thank everyone for inspiring each other.  And, to inspire anyone sitting on the sidelines to start taking actions.  It is a bit scary on this side, I've had a couple of "near-death" moments but in the end I realized that there is a solution for every challenge.  As long as you don't give up and keep exploring problems and solutions, you'll be just fine.  Cheers!

Hello,
My name is Max. I am a 21 year old living in Canada, more specifically Fredericton, NB and I am looking to get into my first property and thus the world of real estate. I am currently in a position where I do not have mountains of capital to spend on buying a house, so, I am hoping to use the BRRRR method to stretch what money I do have as much as possible. When listening to the bigger pockets podcast, I notice FHA loans being mentioned quite frequently because they give the customer the ability to purchase a house with a very small down payment (aka. very little of their own money). I believe that something like an FHA loan would be a great option for someone in my situation, however, sadly, in Canada FHA loans are not offered which brings me to my question. Can you use the BRRRR method in Canada without being able to utilize FHA loans? If so, what loans would be best/most similar to FHA loans (potentially a CMHC insured mortgage would be a good option)? And finally, outside of what I've already mentioned (CMHC loan), do you have any other/better recommendations to help someone, in the financial situation that I am in, get into their first property? And I do want to make it clear that, in keeping with the BRRRR method, my goal after buying and rehabbing my first property is to refinance in order to buy a second property as quickly as possible.

Thank-you for your time and I look forward to reading your responses.

Hi everyone, my name is Max. I’m new to bigger pockets and I am an aspiring real estate investor. Now, I was wondering… given how tough the real estate market in Canada is these days, does anyone have any recommendations for specific markets/areas to look at when trying to start my portfolio? I know this is a bit of a general question, but any information/recommendations on some of the “best” areas/markets (where you can still get in quite cheap and the place has good growth potential) in Canada to start my investing journey would be much appreciated. And whether you have recommendations because of personal experience/success in those areas, or if it’s your own personal opinion, I’m all ears.

Lastly, I want to apologize in advance of this question bothers anyone. Yes, I know it’s general, might be hard to answer, and ultimately is a very beginner type of question, however I am a complete beginner in the real estate world, and everyone needs to start somewhere. So, any info on where to start looking for properties would be great… oh and also, would you recommend trying to buy a single or multi family home as my first property? Keeping in mind that I am hoping to hold it for the long term and have it be the first property in my portfolio!

Quote from @Anthony Therrien-Bernard:

Quote from @Farai Kufakwedu:

Hello folks. Just made the commitment to get into Real Estate investing 2 weeks ago. There is a BP podcast on the BRRRR Strategy with David Greene in which he gives a hypothetical example of two investors, Tom and Mike. I'd like to consider myself Mike right at the start of his journey. I'm based in Calgary Canada so would love to connect with other investors here in Canada.

 Hi Farai,

Congrats on taking that commitment! What are your main pain points right now? 

Btw @Santhosh Nathan and I are in Calgary, I'll send you a DM as well

Hey Anthony and Santhosh,
Right now I have three main obstacles.
#1. Ignorance. When it comes to real estate in general and real estate investing in particular, as of two weeks ago I was as ignorant as a bushman out of the Kalahari. So I'm investing loads of time into my education with Podcasts and books.
#2. My credit needs some major work after years of neglect. I have put in place a plan to get that cleaned up and raised to where it should be.
#3. I don't have much cash to get started with investing. I have a pretty decent income from my job so I should have a sizable chunk saved up to get started.

Given the above three obstacles, I'm giving myself 12 months to be in a position to start. 

Hello folks. Just made the commitment to get into Real Estate investing 2 weeks ago. There is a BP podcast on the BRRRR Strategy with David Greene in which he gives a hypothetical example of two investors, Tom and Mike. I'd like to consider myself Mike right at the start of his journey. I'm based in Calgary Canada so would love to connect with other investors here in Canada.