All Forum Posts by: Chris A.

Hey Kyle I'm from Orillia and I invest here. For a clean unit it's around 1250 for a 1 bedroom, 1500 2 bedrooms, 1800 3 bedroom. The tenant profile here isn't the best but if you screen your tenants and have a nice place you'll do fine.

I think this is a great area to invest. If you're in town sometime drop me a DM and we can meet up!

Rent prices are the same but houses are cheaper, investment properties are cheaper and the 1% rule is possible if you do some work. There's a university, a college, opp head quarters, hydro one is building a grid control centre which is projected to inject 200-300 million into the local economy in the short term. If you want to do short term Air BnB the city hasn't ruled it out. The city also recognizes there is a housing crisis and wants to increase their density so I'd say they are fairly investor friendly.

Great idea. If you're thinking about Barrie do yourself a favour and go a little more north to Orillia.

CIBC. I'll never make that mistake again. I was told by the agent the rate was good and we could refi for free. At the time I thought yes of course I'll hold the property long term but that was an absolute rookie mistake. I'm never going to make that mistake again. 

30 year amortization variable rate mortgages all day for this guy.

Biggest mistake; signing a 10 year mortgage. Variable from now on especially if the goal is to BRRRR

Triumph: only cost 3 months interest to break and refi.

Bigger pockets pro apparently has amazing calculators. I use Andrew Hines cashflow Excell sheet. It's amazing and does pretty much everything I need. Not to mention his podcast is very valuable for Canadian real estate investors. 

I'm also interested in this but will take it one step further. If on the land registry you found out the home is owned by a corporation is there any way to find out the people who own the corp?

Hello everyone. This summer I did a BRRRR in Ontario and I'm wondering what I should do regarding claiming the renovation costs. I purchased the property at the start of July and renovated it until Oct 15th. In this period I spent about $50,000 between the labour and material.

Can I claim this 50k as write offs or do I have to add this as a capital improvement? The main issue is that the 50k renovation increased the home value by 245,000 so that 50k in write offs would save me a lot more money.

Any advice would be greatly appreciated.

A lot of people use quick books which links to your bank account. To keep track of the receipts, lease agreements, notices and all of that other fun stuff I am currently using Evernote.

I work for a property management company which uses Buildium but this would only be worth it if you had a substantial number of units.

I personally use naborly. It's all online and does a great job.