All Forum Posts by: Chris Baxter

@Sriram Kumar Bikkina  have a lawyer review the language of your loan agreement to determine what negative outcomes (from your perspective) are possible.  

@Stevo Sun the problem with reddit is that it lacks transparency. You don't know who you are interacting with and you can't easily build genuine connections. I would never personally use reddit for professional purposes (including having investment discussions and professional networking).

@Adam Krawec I've persoanlly found that every post I've made here in the Canadian REI forum on BP gets responses and I see new posts here daily. I've found a solid community of like minded individuals and haven't found a need to look elsewhere for contacts and connections. Do you follow the Canadian forum here so that you get all the latest posts? Outside of BP, FB, and REIN, you can get some discussion on reddit. There are also good one-way sources of information (blogs and podcasts) specific to Canada; I like reading Ozzie Jurock's stuff for a completely candid perspective.

@Jamie Blair this is the challenge with rent control that exists in many provinces in Canada. Landlords are expected to subsidize the costs of housing as rents don't keep pace with market or with inflation (Ontario claims its 1.2% allowed increase in 2022 is aligned with CPI.... )

Options include moving into the unit yourself, offering cash for keys, applying for a large rent increase through LTB (form L5), or massive renovation (requiring N13).

@Mike Hamson commercial lenders really only care about the current numbers... have you reached out to a commercial broker yet? @Jordan Perry is active in this forum and works with clients in the maritimes

@Oyinda Oyetunde both @Jordan Perry and @Julie Toh are mortgage brokers and are active on this forum.  I'd recommend that you reach out for a consult as they are the experts

@Papi Fall welcome to BP.  If you post a little about your skills,experience, and goals, you might have a better chance at getting a response. 

"but if you can at least cover your expense with local investment, it will be a better investment than positive flowing out of Province property since you can tend to it"

A contrasting opinion:

Tell your buddy Ryan to read Rich Dad Poor Dad.... $60k on a depreciating doodad is not wise (but it is what 99% of people do).  I bought a 6-plex with $50k down 5 years ago and it cash-flows enough to make car payments on a Jag.  Not something I would do personally, but it's what Rich Dad advocates (let your assets buy your toys).