All Forum Posts by: Cole Black

Not quite sure I understand you 100%, my primary residents is my parent's house. is this 90-95% LTV on the property I will at some point buy?

Thank you I will look into this, what are the requirements when withdrawing from your RRSP? My funds right now consist of personal savings however I may have some liquidity in my RRSP that I never thought I was able to use. I will be focusing on properties under $500,000 so that will work great. My parents would definitely co-sign if the deal made sense!

@Cam Jimmy yes I’m not sure if that program exists here. I do still live at my parents so if I’m not required to live there for a low down payment I will just rent it out!

Hey guys and girls,

Just looking for local investors near Owen Sound Ontario that would like to meet up looking to start networking!!

@Quin Green are you looking to do rehabs, brrrrs, rentals or what is your goal with these foreclosures.

Good evening BP community, hope all is well. I have spent the past few months learning about real estate investing, I have listened to many podcasts and read quite a few books on buy and hold investing. I feel as tho my education is at the point where I have what is needed to start and I need to get my hands wet, My issue is I'm 19 have a horrible paying job and little money for a down payment. It will take my year's salary to save up 20 % down on any of today's properties. I do have good credit and a high income from my business however the business in new and has only been making solid returns for four months. I am wanting to get into my first deal for Brandon's 90-day challenge. I was wondering what you would sugest for lending? Is there such thing as FHA loans for canadians? Can I get a loan with a lower down payment in Ontario with mortgage insurance? My accountant talked to me a few weeks ago about getting financing for the down payment and another one for the complete mortgage to get infinite ROI. Is this something that anyone has tried? Would you recommend it if the deal cash flows? I just want to be prepared for when I get a killer deal I can jump on it quickly and get into the game.

@Ryan Rush I have a story completely unrelated to real estate but might still help. I have a business, a few months ago after a year of work I had no clients no work nothing I had failed and was fighting with myself not to give up. I decided to keep going as I’ve come to far and learnt a lot along the way. Anyways a few months later now I have a gross income of 5000 a month for the past 4 months. It went from nothing to totally paying off in a mater of weeks. My point is this life’s just pushing you around teaching you a lesson learn from it and keep going eventually it’ll turn you into a huge investor or Atleast help you reach your goals. Good luck!

@Aaron Jackson my advice would to be read Brandon’s book “the book on rental property investing” it’ll walk you through pretty much everything.

@Levi Kidder

I was thinking the same thing 😂

 I lost him when he asked who was going to be making offers on my behalf, my answer was I'm still building my team I have a CPA and I am currently looking for an attorney and an agent. I also questioned him and asked if he would be making the offers on my behalf, I said I get most of my content from USA based websites books and podcasts (biggerpockets) and asked if that is for some reason different in Canada. I know I sounded fresh to him but I just told him how it was. If theres one thing I've learned from the podcast is not to lie about your experience. 

I have considered partnering but so far have found no luck.