All Forum Posts by: Darren Horrocks

If you already have a primary residence, maybe consider refinancing if you have equity? This will allow you to get a down payment necessary for another loan. If your debt service is bad you'll likely need private/hard money. (Costly and not a good long term option, so have a plan)

If you can, I'd just sell your primary and buy a duplex. Likely at a market peak, so would be an ideal time do either a refi/sell.

I started through refi'ing. Good luck!

Hi Alan,

Barrie is a great city! One of the highest rents in Ontario, if not all of Canada. 

I've had alot of success with small multi-family in order to cashflow /w the cost of property, and rising interest rates. Taxes are also high. Not to say SFR wont work.

All good reasons to make sure you are doing your due diligence and analyzing your numbers. 

Get a good agent who does, or knows property investing. And a good broker in the same boat. You'll likely be able to get a 5% down, 3.5% 30 yr am - but also consider interest rates on are on the rise, so we might start to see a flatter rental market, and a slowing/declining RE market - so if you're comfortable having a small amount of equity in a property as things get tougher then go for it. Otherwise, see what you are able to afford financially, and possibly put more skin in the deal for a down payment to buffer your equity position.

Also I'd recommend making a plan as to what you are expecting Real Estate to do for you down the road, derive a road map, and have an exit strategy.

Best of luck to you @Alan Ferrante!

Hi,

I'm looking to get an understanding of some of the locations in LA County and Ventura county. Are there any areas that you would recommend staying away from, and why?

I am interested in the following, and plan to drive the locations to get a feel for the neighbourhoods in the weekends to come.

- Simi Valley

- MoorPark

- Calabasas

- Camarillo

- Oxnard

- Ventura

What are your thoughts? Any areas within each of those to absolutely avoid?

Thanks!

Darren

@Kuba F. Thanks sir! Where are you from originally and how long have you been in SoCal for? 

I'm starting a new job at Infinity Ward, the game development studio that makes Call of Duty! So I'm very excited about the many new opportunities!

@Account Closed Thanks, I'll add you as a colleague so I can ping you. I appreciate it!

Hi,

I will be starting a new job in January and will be moving to the Woodland Hills area from Toronto, Canada. I wanted to introduce myself, and hopefully meet some like minded REI people operating SFR/MFR(2-4) in the surrounding area that would be open to some discussion about the area, trends, markets surrounding, etc.

Thanks!  

I am analyzing new markets in my surrounding area. I am happy /w Barrie, but the massive appreciation is starting to kill the cashflow potential. My current properties are doing good. But future ones...

My question is:
Which market type is better?

1. A market that has excellent population growth, with a mid-high affordability index. Appreciation is high and fast. Demand is high, so winning offers arent frequent. Cashflow is low and in many cases not possible.

VS

2. A market that has a stagnant population /w little growth, low affordability index. No/low appreciation market. SFHs are cheap, and rents are good. Cashflow is high. 

Hi Ryan!

I'm also from Barrie :) Welcome! 

I second @Matt Geerts question. Do you have a focus yet? 

Sorry about the late reply Roy! I fell off the face of the Earth for awhile.

So I don't use traditional "big-5" financing, b/c they can't offer me the terms I wanted.

Hah ya I've heard about them as well. And I also have no experiencing managing D tenants. But the interesting thing about this scenario is the rents are guaranteed by social programs. That doesnt mean the tenants are any better, but the income being paid by government social assistance for these types of people helps I suppose.

Not saying that makes it any better haha 

I am curious to get some opinions on rooming houses. (A single house, rented per room /w shared kitchen/bath) Typically D or C occupants. Rented month to month. Apparently no vacancy in the property I'm looking at and agent says seller has a list of prospects waiting to get in.

I assume they have high turnover and high maintenance and repair costs.

But the income is pretty significant when comparing to small multifamily.