All Forum Posts by: Chris Walters

i am looking at a lot of properties and wondered what people usually aim for before considering the purchase of potential properties. And for those who already own properties, what rate did you settle for?

i would never rent it back to him. You hard setting yourself up for disaster. You will be renovating to have him enjoy the improved unit while he continues to struggle to find a job. It is a tough world and I sympathize for him. Unfortunately, he's not in a situation to hold that mortgage and he won't be able to pay rent either, unless if your plan is to have negative cash flow. The best thing you should do is to evaluate the average value for similar properties in the area. If the ARV will be higher or similar to comparable properties, then acquire the property with the condition that he walks away from the property. Offer to pay his move (with a max price) and maybe offer him a 1k to start fresh (only with the comdition that you successfully acquire the property). One Way or another he's losing the property. Might as well do it that way.

Good luck to you and good luck to him! It's not fun hearing stories like this. But reality is that **** happens. One thing i do know is that i doubt a hard money lender would lend you momey to eventually let the old owner become a tenant. You'll be shooting yourself in the foot.

 lol that's a good one! :)

Hi everyone,

Does anyone have good references for real estate accountants in the Montreal or South Shore region? If possible, please provide me with advices as to what to look out for when scouting a good real estate accountant, things to expect, things to beware of, questions to ask, reasonable fees, etc.

If you have a good accountant in mind, feel free to inbox me the info.

Thanks,

Chris

Hi everyone,

Can anyone please provide advice as to whether it is best to put your personal funds into your company as a Loan or an Investment? I read a lot about the topic. Just to put you in context, this would be for a corporation based in Montreal (Quebec). I am aware that a loan can be better in the sense that you become a creditor if anything goes wrong, whereas an investment shareholder will lose anything that would be put in (once again, in the case where everything goes left).

I am thinking of loaning a large sum to my own corporation, but I was wondering if there would be any disadvantages when comes time for my corporation to get financing from a financial institution.

I am aware that laws vary from one area to another, therefore, all advices will be appreciated, and those from fellow Quebecers even more.

Thank you for your time and consideration,

Chris

I honestly feel that my biggest gaf was to not have started 10 years ago.  I've always had business sense and was attracted to making money, but real estate was never on my mind. Time is money!

 Mainly Buy & Hold. 

 Hi Ayodeji,

Yes, Ive been reading books, watching videos, listening to rispodcasts and reading forums.

Thanks,

Ch

Thanks for the quick replies everyone! It is greatly appreciated. I am eager to connect and exchange ideas with all of you.

Hi everyone,

I am new to the real estate investing scene. I am from Montreal (Canada) and I am seeking to build a portfolio. I've been doing research, reading books, watching videos and listening to podcasts for the past year, and I am ready to take the next step.

I am very open-minded to receive any advice that comes my way. If anyone in or around the Montreal area can assist with any tips, it would be greatly appreciated.

I am very serious about becoming a successful real estate investor, therefore, I value any time you might have in order to advise me.

Kind regards,

Chris