All Forum Posts by: Brett Robinson

I was in a similar situation 5 years ago when I started. What I did was save my 20% down on the properties and bought turnkey properties that are 2 units. Single Family Homes with legal basement suites. I own 5 now with that strategy. When I ran the numbers I only went for deals that cash-flowed 500 a month or more (250 per unit) using conservative rent numbers. My houses now cash-flow above that and I also chose to house-hack and live in one of the main floors and rent the basement so my living cost is only 500 a month for me and my wife.

Don't know if it is the best strategy but it works great for me and I have learned alot at my own pace. 
Good Luck!

I also am looking to do this but in Canada. I have my company created but I would like to start putting my houses in the company. Not sure how exactly I do that.

Shoot in my original post I should have clarified a bit. When I say will refinancing be a real issue I should have said renewing my mortgage when the terms are done (5 year terms). Maybe that makes the answer totally different?

I am currently at a job making a really great yearly wage. Around 150K a year. So getting approved for mortgages is no issue yet. My question is after I scale up and make enough cash flow to sustain my life style I’d like to quit this job. After I do that will refinancing become a real issue as all I will be living off of is cash flow from my rental properties.

Not sure how this works but I can see it being a problem in my “master plan”.

Any advice or insight is appreciated.

I am currently at a job making a really great yearly wage. Around 150K a year. So getting approved for mortgages is no issue yet. My question is after I scale up and make enough cash flow to sustain my life style I’d like to quit this job. After I do that will refinancing become a real issue as all I will be living off of is cash flow from my rental properties. Not sure how this works but I can see it being a problem in my “master plan”. Any advice or insight is appreciated..

I am currently at a job making a really great yearly wage. Around 150K a year. So getting approved for mortgages is no issue yet. My question is after I scale up and make enough cash flow to sustain my life style I’d like to quit this job. After I do that will refinancing become a real issue as all I will be living off of is cash flow from my rental properties. Not sure how this works but I can see it being a problem in my “master plan”. Any advice or insight is appreciated.

Hey there. Alberta investor here. Have 4 properties now and looking for number 5. Mostly single family houses with basement suites. Looking into a duplex now. Also looking for investors in Canada to network with and possibly partner up on more and more deals!

I appreciate the input guys. One thing is to find a comparable property is tough because this is the first house that has came up since i have been actively in this market (2-3 Years) that has had a basement suite up to fire code and fully permitted to todays standards. But I guess looking at each unit separately may give me some hints. Like i think giving the kitchen some updates in terms of cupboards and painting the house (in/out) and changing all hardware and fixtures may get it up there some. I'm not looking for a huge bump but if i could pull 10-20K out after a refinance I'd be happy. My current mortgage is a flexible plan meaning all i have to do is ask for a new appraisal (and pay for it) and they will change the mortgage amount without going through the approval process etc (up to a certain amount). 

Thanks Michael for your reply. This house doesnt have much option to add square feet but the garage could be updated a bit. Thanks for the input.

Thanks Heidi for your answer. The upstairs is pretty out of date. It really could use some kitchen renos. Just was curious if I could just get new doors or paint and change hardware to improve appraisal or if i would have to start over. I would still do some backsplash and counter tops tho.

Thanks for your input.