All Forum Posts by: Elliot Mould

At this time, I think our main focus is an end user.  We haven't really considered doing a flip, rent, sell to investor type deal.  I see that you are in Cleveland, we'd certainly be interested in considering this area as we have already spent some time in the city checking out areas.

Hello,

My wife and I are out of country investors from Canada that are nearing completion of our first 2 flips, in totally different markets with different teams.  I have found that for flipping, the team is more important than the specific market.  Meaning, if we have the right people to help us, that's got the biggest impact on our potential success.  The market of course needs to have some opportunity, but that can be any market where the team is right.  

Wholesaler/realtor/ontractor

As a realtor myself, when I work with investors, especially those that are not local, its imperative to find the right house with the end goal in mind. It needs to make sense in so many different ways, so having the right realtor to do that is imperative. Then of course having a contractor that cares about the project and that does good work and is trustworthy. We find it best when the realtor already has a relationship with the contractor and can help as a project "overseer". Not just to help us, it is also in the realtors best interest to make sure that the house turns is completed in a way that will hit the projected ARV. Having a wholesaler to source off market deals is also great, even better when they have a contractor to do the work, and a realtor to substantiate pp and comps for ARV and then to list. Its tough to find all these right people separately and bring them together, we feel its much better when we can meet a team that is already established to help everyone better succeed.

We plan to use one of our teams again (realtor/contractor) but are hoping to find other teams to work in within their respective markets and would like to connect.  Finding these teams is what we are working on now, and could use some help.

We have also found that while we build up our experience, the fix and flip loan financing still requires a significant down payment, 30-40% of the purchase price.  I am told that once we have at least 3 completed flips that this will improve and we can get it down to 10-15% and then perhaps even lower with more experience.  In the meantime however, we are also hoping to find a team that has a member that could partner on a deal with us so that their experience can get us better financing.  

I'd be happy to get any feedback or guidance on finding these teams.  Thank you.

Good day, I am a foreign investor with plenty of real estate investing experience in Canada looking to find a Florida market for low price point flips, as well as to set up a team in that area to help, including realtor and contractor.   

I have reasonable expectations for returns, its more about getting rolling in that state.  I have my corporate structure set up, as well as cash and a lender to help when needed.

Open to suggestions for different Florida markets that might be well suited for this, as well as for "team members" that may be able to assist.

Thank you.

 Sorry for the delay, but thank you very much for this information.  I just reached out to her and look forward to hearing back!

Good day,

I am a realtor in Ottawa, Canada, and an investor locally.  I am looking to branch out to the US with my investing.  In order to avoid double taxation, I have been instructed to set up a GP LP structure, which I have done.  Canada does not recognize LLCs so this would have required me to pay tax in both countries.  The LP allows me to pay tax in the US and then get credit for that tax payment when doing my taxes in Canada.  

I am looking to get in touch with a lender that will lend to my LP as a foreign national to discuss what I might be looking at for rates and terms.  If you are a lender than can help with this situation, please feel free to reach out.  Thank you for your time.

Regards,

Elliot

 Thank you Wale, I appreciate the reply.  Do you work as a realtor in those areas as well?

Good day everyone,

My name is Elliot and my wife and I are interesting in expanding our real estate investing to the US. We are from Ottawa Ontario Canada, and own 10 multi unit investment properties in the city and surrounding secondary markets. I recently attended a mastermind in Florida for canadians that want to invest in US real estate and we are excited to get started. I just registered my corporation and LP in the state of Florida. We hope to purchase a second home in Florida that we can rent out as STR while not there as well as some other investing in the state.

Our reason for joining bigger pockets is because the other part of our desire for US investing is to be able to own in LANDLORD FRIENDLY (both for tenancy rules and affordability) states.  We have some states in mind I am looking to connect with service providers in those areas that we can work with, and hopefully decide which location we would like to get started in.  I am hoping that realtors/property managers can essentially sell us on an area by explaining the pros and cons, as well as what they can offer us in terms of services.  The states we have considered so far are OHIO, INDIANA, TEXAS, FLORIDA, MISSOURI, ALABAMA, KENTUCKY, but are open to more, and are open to taking some off the list.  

If you are in these areas and are well connected to a solid core team, and are open to helping us with wholesale/private opportunities, please feel free to reach out.  We would love to hear from you.

Regards,

Elliot