All Forum Posts by: Chris A.

Hello Anthony. I do not have experience with the Toronto market nor have I had any experience with a BRRRR on a multifamily, yet.

I've got a 4plex under contract at the moment in Orillia, ON which is about an hour and a half north of the city. I am looking to BRRRR it with cosmetic renovations and cash for keys to raise rents. Purchase price is $450,000.

I believe Orillia has a lot to offer investors;

A university and a college.

Hydro one has just bought Orillia Power. They are anticipated to inject 200-300 million in the near term economic impact on the community.

I see big outfits with much better knowledge of markets than myself investing here. They just completed a 60 million dollar recreation center, have a Costco, a brand new Canadian Tire and a Walmart supercenter

The city is very old and has many grandfathered multi-unit buildings.

The city promotes density. They want people to create housing here.

Like much of Ontario housing is scarce here. This creates a very high demand for rentals as well as high rent prices. I put an ad for a bachelor apartment up for $900 which recieved over 1500 views and 70 responses. 

Also, appreciation in this area has been fantastic over the past 10 years. 

Absolutely. Retirement to me means that I don't HAVE to work. Currently my very modest living expenses are  covered and my networth is slowly climbing thanks to real estate. A couple more deals and I'm hoping I'll be financially independent. 

Working 40 hour weeks for someone else is something I've never been able to do. The only things I've been okay with doing every day in terms of work is playing drums and investing in real estate.

How far are you in your FIRE journey?

 

After over 100 BP podcast episodes and reading hundreds of threads here I finally decided to join in the conversation. 

I live in Orillia, ON. I've been working for a property management and real estate company on and off for about 3 years now. This year I have started to use the knowledge I've learned from biggerpockets and my job to take investing more seriously.

I bought my first home in 2018 which was a duplex. Since moving in I have been able to add another unit.

I just finished up what I can consider a home run BRRRR in Washago, ON which will be short term rental for the summer months and long term for the winter months.

About a week ago I got a 4plex under contract that has BRRRR potential. All of these homes are purchased with JV partners.

Lately most of my free time seems to be researching different Canadian real estate related tax questions.

I love talking about real estate about real estate and I'm excited to finally have joined the community!