All Forum Posts by: Chris Habets

Exactly, why not? I don't know Truro specifically but I'm investing in Sydney.

For sure, but it is posted in the forum "Real Estate in Canada"

I've used Kristin Stauffer at KR Mortgages. Detailed, quick to reply, and gets it done. http://www.krmortgages.com/

My own strong opinion is rent nothing when it comes to HVAC. 

Wrong country, we're in Canada here bud, eh? 

Here's the cmhc Rental market survey

https://www03.cmhc-schl.gc.ca/hmip-pimh/en/TableMapChart/RmsMethodology

@John Vieira

Hey John, so far you have bad info in here.

If you're a first time home buyer you can borrow from your RRSP penalty free, and pay it back over 15 years. You need 5% down for a normal bank loan here. For both of these you need to live in it. Where are you looking?

 I lost a whole tree branch! No real damage. Got lucky on this one. 

"are you gutting the whole triplex?"

Oh ya, right to the studs and then some. We found some structural issues too (not shocking). Getting permits this week and quotes on electric and HVAC yesterday and today. 

How's the SFH going? We're looking at CBU student rentals next, likely.

I actually just started - bought a triplex that is undergoing a major renovation - the gut is finishing today, actually. And you?

Hi Arthur! I'm a big fan of the BRRRR, although finding deals that really qualify to get all your money out in a year or less is a challenge in the city proper. Small towns outside of the city are a little easier but not a slam dunk. There are some wholesalers that seem to find deals that can do it.

For taxes, real estate income is passive income in a corporation unless you have 6 or more employees. There is a way to set up your corporations (at least 3) that allows you to access that 15.5% tax rate without 6 employees. I'm not fully up to date with the math, but here's a starting point.