All Forum Posts by: Cole Blezard

Unless I purchased them at different times? I could buy this one and in a month buy the second, no?

Hello everybody!

My buddy and I are looking to buy a duplex. The owner would prefer to do a private sale and skip any realtor fees. After speaking with him it sounds like he would be interested in selling the whole thing. The issue is that if I put down the conventional 5% on the asking price $500k the majority of my mortgage payments would be interest. So I thought, what if I bought one side and asked for owner finance on the other?

This would greatly increase money put down on the principle payment but I don't know if it would work? Also would want to make the deal enticing fro the owner and not sure how I would do that!

Any response is appreciated! 

Hello folks,

I'm a first time investor located in Canada, BC. I have given up on finding something that cash flows on the MLS so I am looking for private sales only. The issue is that these private sales get so much attention the seller doesn't have time to filter out the gold from the **** and doesn't give me the light of day.

Is my best approach to write a Letter of Intent or straight up an offer letter subject to everything under the sun?

Please give you some advise. Anything is appreciated... and if anyone has a LOI letter they would be okay with me seeing I would appreciate that as well.

Thank you so much!

Cole

Thanks everyone! Even though the question was extremely vague, the feedback was great. Very stoked to have found this resource.

After reading a couple books (rich dad poor dad and ABCs of real estate investing) and listening to pretty much every BP podcast I still have a few questions. If anyone would like to give me there 2 cents it would be greatly appreciated!

Net Operating Income (NOI) is obviously a very important number when calculating your return on the investment and even calculating the recommended house value, but its based off a couple pretty estimated numbers. I'm among-st creating my own spreadsheet (Sorry BP, I did use yours but have ran out of free trials!) that has numbers actually retaining to my local area like property tax, insurances, and all that good stuff. Income is decently easy to figure out based on rentometer and craigslist and such, but expenses are a lot harder. There are many general rules discussed in the podcast like the 1% of property value, or 10% of total income, % of total house square footage, ect. but my question is this!

What rule do you people use for estimating expenses in the very preliminary phase of narrowing down a house on the MLS? I will be looking at family houses, duplexes, and quadplexes. My spreadsheet automatically changes based on the "type". Are different rules used for different types? Secondly, should I include a replacement reserve for bigger items like roof, hot water tank, appliance replacement, in this number or is that an additional number?

Thank you very much! I'm not just wasting your time. I have tried to look this up in previous forums and discussion groups, as well as in podcasts but I cant find an answer.

Any advice is appreciated so much!!!!

Cole

Hello who ever reads this!

I have been listening to Bigger Pockets for a few months now, getting ready for my first investment opportunity on Vancouver Island (west coast Canada). I just graduated university and am looking for a passive income as soon as possible! I know real estate is a lot of work and is filled with unknowns, so I have spent a great deal of time trying to forecast errors and get as much advice as possible before I dive in.

I know you can only do so much of this planning but after listening to a BP podcast and hearing them reference the website discussion I figured I should start posting asap for others in a similar boat to track my progress. BP is primarily U.S. based so getting applicable Canadian advice can be kind of hard.

My first question I would like to bring up to the board is whether a single family or multi family investment is recommended for your first investment?

Any advice will help!