All Forum Posts by: Chris Baxter

"Best" and "cheap" are both subjective. What are you trying to achieve?

As far as relocating is concerned, live where you want and invest where it makes sense based on your goals. I've never personally owned property near where I live because the market where I (happily) live makes no sense for my real estate goals. 

Yes... use leverage

You can make any property cash flow with a big enough down-payment. When you do that, though, returns are typically miserable, and you'd be better served with a different investment vehicle. 

If you can't identify what you are missing, and have never done large multi-family builds, perhaps this isn't the right opportunity for you. I live in Port Coquitlam (your 'hot' market).  The list price on this parcel is 7x the price of similar sized parcels in the city.  You are paying a huge premium for the fact that zoning and permits are in place.  When you factor in building costs, and the stagnant (not hot) market, I can see why this is still listed. The seller likely had plans to build, but sees that they can make a far better return by flipping the land (and therefore bypassing construction cost risk)

You can make anything cash flow with a big enough down payment... What are you trying to achieve by investing in real estate? Are you looking to lower your cost of housing (you mentioned house hacking)? Are you buying for cashflow? Are you hoping for appreciation? Start with your goals and then see what is feasible in REI.

@Alex Von Maltzahn welcome to BP.   There should be no impact on your home owners' insurance.  Insurance is not tied to the financing you have in place on your residence. 

@Leonel Francis welcome to BP!  I'd recommend that you start by building your profile on BP so that people know who you are.  I don't personally use the property calculators on BP as I have a more detailed analysis package purchased elsewhere. For me, the biggest selling point for Pro is is in the exclusive content and webinar replays.  The BP team is always adding new tools but, understandably, these tend to cater to the US market.  Here are screen caps of what Pro members have access to:  

@Erwin Li your best bet is to connect with a mortgage broker. Assuming your TH is on a residential mortgage, any future lending will likely only allow you to count 50% of the income on that property. Also, if the property has 30% equity, it likely has no equity from a lender's perspective as you can likely only refinance up to 75% LTV.

If you want to make your blood boil and your stomach churn, have a read through this article:   https://www.cbc.ca/news/canada...   Single mom buys a home to live in. Home has tenants that are ignoring eviction notices and aren't paying rent.  LTB in Ontario is not helping expedite a hearing. She is simultaneously being evicted from her own rental home as she can't pay her rent.  What the hell is wrong with landlord support in Canada?  Are there any lawyers on this form that can reach out and help force LTB into action?