All Forum Posts by: Cameron Andrews

@Artem KovalevskiyAlso interested in this. Closing on a JV with two other Canadian partners this week, Section 8 tenant in McKeesport, PA.

I am happy to share any info I gather on this. 

Good luck in the meantime!

Thanks, @Shaun C. that seems like a sensible approach. I will be increasing the rent quite substantially, and am a believer in higher quality renos up front, to minimize future headaches

Cameron

@Roy N. Thanks for the input. I'm actually from Toronto, happen to live in London at the moment though. 

I will update this post as I learn more through the CPA and experience of trying it out.

Cameron

Hello everyone,

I have a C-corp in the state of Ohio, at the advice of a real estate 'guru' 

At the moment, I am JVing on a long-term property in Pittsburgh. Is it worthwhile to hold the property in my C-corp? At the moment the corp has been sitting idle.

Priorities:

• establishing credit, history in the USA, with plans for more long-term investments
• not getting taxed as much as possible (I will be in the 15% corp tax bracket to begin)

What I Know:

• C-corp has double-taxation - I don't plan to withdraw the revenue from the property so I'm not too concerned with this
• S-corp and LLC passes through to the individual
• I am not eligible for an S-Corp

What I Don't Know:

• in what respects are C-corps good for international investors?
• would the following structure work?:

My C-Corp owns a % stake in ---> LLC (split ownership between 3 Canadian JV partners) which is the registered owner of ---> Property

I have reached out to a CPA already, but the deal has sprung up last minute, and I would like to capitalize on the existing company already in the US if possible.

Thanks in advance!

Cameron

Hello, I've got a B+ property grossing 1200/month, and need to replace the kitchen floor. I plan on holding this property for many more years.

The rent is coming up for renewal, so I plan to increase it. Would appreciate any actuals or estimates that the BP community has experienced in terms of increasing the rent by $X to recover this flooring CapEx.

For example-

High end: Duraceramic could justify a $X increase in rent

Low end: basic vinyl could justify a $X increase in rent

These are purely for a numeric assessment. I will also be considering the reduced maintenance on my part from a more durable product.

Looking forward to any insight here. Thanks!

Cameron

@Kim Whiteman 

I am a Canadian living here in the UK, currently in the process of buying a rental property. It's very common here to be purchasing leaseholds (as opposed to freeholds) on property, which requires the solicitor to also act on behalf of the freeholder. When existing tenants are in the property, it adds more complexity, as the legal representation needs to ensure that the tenants are occupying the property with appropriate contracts. 

In short, more tenant protection and levels of regulatory oversight

We are working on a syndication group for those looking to get % stakes in a deal, but a more active investment than simply lending through crowdfunding. PM if this interests you.

Thanks,

Cameron 

Hi everyone, 

I grew up and lived in Brantford my whole life, before studying in Waterloo, and now living in London (England). My family is still in the city, and I have a student rental 5 minutes from campus.

I can attest that realtors have been contacting me regularly over the sharp increase in prices, opportunity to sell for much more than I paid, etc.

Let me know if you have questions about the city. I do have limited experience outside of Brantford, but also have close family in Hamilton, so I'm starting to learn more about that market as well.

Cameron

Hi Ralph,

I grew up and lived in Brantford my whole life before moving to London (UK) last year. I also own a rental property, about 5min walk from the Laurier Brantford campus.

Mind disclosing the street name? I can give you an idea from personal experience whether the $142K is worth it.

Already though, I can say that students in the city are quite spoiled in terms of options, and a 15-min walk is going to sound like a lot for them. If it's on the other side of the Colborne bridge too, it'll be perceived as far away, even though we know it's actually very close to the campus.

Happy to help if you have any other questions about Brantford.

Cameron

Hi everyone,

Wondering if anyone has experience with the RICS certification, and whether they recommend pursuing it?

I work in The City in London, UK, and it seems to be a well-respected designation here. Never heard of it back home in Canada though. 

If I plan to combine my knowledge of finance with real estate (example: working for a RE fund) is this advisable?

Appreciate the help!

Cameron

Hi everyone, I live in London England, and have just made an offer to buy a student rental near Broad Street in Birmingham. The sellers and letting agents are Oakmans Estate Agents, and have been very slow in getting back to me and providing updates on the process.

Does anyone have any feedback or stories about Oakmans Estate Agents either as the selling agent and/or the letting agent? The purchasing process in the UK is quite different from Canada, so any insights would be appreciated.

If there are other property managers in the area, I am all ears.

Thanks in advance!

Cameron