All Forum Posts by: Cameron Brioux

Feel free to shoot me a DM Charlotte and Corby.

I am not an expert, but do have experience in Moncton NB

There are some great deals that come up and go fast, while some can easily be created .

Cheers,

Cam

Hi Joel,

I am in Moncton, with experience. There is a monthly group that meets.

Search MONCTON REIO or shoot me a DM.

Cheers,

Cameron

Mathieu McCaie @ Expert Mortgage.

Great at what he does. Tell him Cam sent you ;)

Cheers

@John Warren - would you ever consider a deal where rent is well below market and all tenants are month to month? In my neck of the woods, you need 3 months notice.

Yes. After the renos and increase it would cashflow.

After re-reading, I think I really need advise on how to coach the seller on a lower number without having him walk.

Hi Folks,

-Moncton New Brunswick, Canada - 

I am looking for some help with a deal I am looking at.

I am looking at a 6 unit privately with a seller that would like to retire in 5 years ending his 20 year ownership. He has a small amount left on the mortgage and would like to start negotiations around $300k. Average trading price on these units in the area is around $300, if kept up.

This property does need some windows and a new roof ~$22,000 in the next year or so. The seller believes that CAP EX. neglect should not be placed 100% on him! When I rand the number around a $260+ sell it would just break even with a $20k reno considered.

I am looking for some help on strategy. We have talked about:

Straight cash - lowest possible value

Wrap option with 5-7 year terms and interest with small downpayment. - I need help understanding how this would work in Canada

Traditional financing 

Total Expense: $ Including 7% Vac, a PM value and $1,200 R/M

Income:$

Rents are on the low end for the area and could easily be increased.

Any advice and guidance would be appreciated.

Thanks,

My $0.02 would be the Aurora series with Daikin. These too are the high heat output as mentioned above. https://daikincomfort.com/go/aurora/

We have done a few hundred of these with little issues in Condos here in Moncton NB (Above Maine)