All Forum Posts by: Conor Kelly

Hey guys,

Just wanted to touch base in the forums here. Is anyone flipping or brrrring in Vancouver (or fraser valley/lower mainland)? I realize how difficult it is, very hot and competitive market. I've been analyzing deals here for awhile myself and its seems quite difficult to make something work. Anyways, would love to connect with anyone who's doing it, has done it, or maybe has a different strategy they're doing that works! 

P.S. Would love to work with an investor friendly realtor in the area as I'm actively looking for deals right now.

Thanks guys!

@Andrew Taylor Hey Andrew, just reading thru some of my older posts. Wondering where you bought this property and how its going for you?

@Angus Ho Hey Angus. How'd those BRRRR's workout for you? I'm really curious to know the numbers. I'm currently looking into trying to do a BRRRR out in Calgary (my business partner is from there). Currently looking at forest lawn and ogden.

Awesome input guys. Really Appreciate it!!!

Hi BP!

I'm looking to do a flip in Canada sometime soon. Looking at Edmonton or possibly winnipeg. One thing I've always struggled with is looking up comps for potential flips online. Redfin works for some cities when looking up recently sold properties, but not for others. Is there something I'm missing? Is there another platform Canadian investors are using to find their comps? 

Please let me know if you know!

Thanks BP!

@Julie Toh Hi this makes sense (you're speaking debt to income ration I assume). However, I've had a mortgage broker tell me i'm unable to use borrowed money as a down payment. Could this be because i'm investing out of area or do you think this broker might be inexperienced? Lol.

Hi guys,

I'm looking to try and do a BRRRR out of area and was hoping one of you pros or someone who's simply done it before might be able to shed some insight (this might be a bit broad, i know.). Anyways, some background of where I'm at right now. I'm currently living in Vancouver, Canada and as most of you know this market is quite expensive and makes almost 0 sense to own rental property in. So, I own a principal residence here in Vancouver and 10 months ago i purchased a rental property in Windsor, Ontario. I came across this market on biggerpockets actually and after some research decided it looked like a good market to invest in. I bought my first rental, pretty well turnkey, for 151k and it appraised at 163k on closing. Since then, its appreciated to roughly 200k. After all expenses this property is cash flowing at roughly $500/mo (without factoring repairs and vacancy though).

Now, I'm looking to buy a second property in Windsor, however, this time i want to try and do it the professional-non turnkey way. I already have, what i think is a good team located out there (lender, realtor, PM). I don't have a trusted GC although my property manager seems to be pretty well connected. Annnnyyywaaays, I'm wondering what my first step might be here. I guess i would either start a direct mail marketing campaign or possibly try to network with wholesalers? Should I consider flying out there to walk properties with a GC ect ect. I know this is a super broad question and is quite subjective but i'm just curious to know what others think.

Also, I've read David greens book on investing out of state 3 times and its helped tremendously but kind of stuck at a stand still here.

Thanks again Biggerpockets!

hey daniel and scott, thanks for the hastey replies. My initial thought was to do this. Is there nothing illegal about doing this? No way I could possibly get in trouble with the bank for doing this or violate any contracts? 

by the way Scott, I still look at your posts on "investing in windsor" everyday. Very informative. I appreciate your hard work. 👍

Hi guys,

I was hoping someone might be able to answer this for me. I live in Vancouver BC, currently investing in Windsor, Ontario. I bought my first rental property there last year and its doing very well. Now, of course, I'm itching to try and pickup another one. I'm curious to know if i can, or how i can use borrowed money for my down payment. I already have most of the down payment but there's still probably 10-12k that I have to come up with. I'm wondering if anyone has a solid way around this? 

Let me know if you guys have any ideas!

Thanks BP

Hi guys!

I just purchased my first long term rental property in Windsor, Ontario and just put a tenant in there on a one year term. Now ive stumbled across this whole lease option thing. I'm curious if this would be difficult to accomplish across the country? Is this something a property manager would/could help me with?? 

Also, I'm having a lot of trouble finding information on how exactly i would structure this lease option. If anyone has more information on this or knows where i can find more information that would be really helpful!

thanks BP!