All Forum Posts by: Chris Habets

Check out realtor.CA and tell me that Shawinigan doesn't stand out in the commercial multifamily world?

After the first few most people have to move to commercial loans, or private loans.

That much negative cashflow is too much for me. I also see a higher mortgage payment. IRR isn't high enough either.

There are dozens of us! Dozens!

I'm going to disagree with the other reply - partially for the sake of it but mostly because I don't believe that there's a material difference between managing from afar or ten km away. 

I would go with option two - pay a realtor to place fresh tenants when needed, but you do the screening and stuff still. You can call a plumber from 8 hours away as ten minutes away. And a PM is literally just going to call a plumber - same as you would from your place now. 
 

 Sorry! But it's not really intuitive to other people. I've tried to share it before and it takes a lot of time for people to learn what I did.

I've used Kristin Stauffer at krmortgages.com - she's very detailed and responsive and she works with investors. Big banks through private money. 

Cashflow is tough in this market on a single family that you're buying directly to rent out - rent prices take a few years to catch up to housing prices. I really like live in rehabs to rent out in Ottawa for this reason - you live there for a year or two and renovate it, and then rent it out at market rates while maintaining cashflow. 

Refinance rules are changing as we speak, but refinancing is pretty straightforward with basic debt to income requirements, where the bank will count half your rental income and 100% of the debt load. 

2. Depends on what you're going for. Highest valuation? Best durability? What's the size/price range you're looking at?

Are you referring to the amount of time between purchase and refinancing? 

This is all Crystal Ball stuff. But if anywhere would see a drop it would be T-dot.