All Forum Posts by: Eric Delcol

Hey David, I couldn't agree more.

We so happened to have found that unicorn.  Our PM in Phoenix is phenomenal.  Send me a message if you are interested and I can pass their info on to you.

You can start your real estate path today with NO MONEY down!  That's right, you can buy property below market value and reap HUGE profits!  

Sorry, I couldn't resist.  Fortunately you wont find much of that kind of hype and hysteria here on BP.

Like Matt said, for an investment property in Canada you need 20% down to qualify for a mortgage.  

You can skirt around this by buying a multi-unit and live in one of the units as an owner occupied property is only 5% - however, as of Feb 2016 the value over $500K requires an additional 10% down payment.  Eg. a $800,000 house would require $70K (5% of 800,000 + 10% of 300,000).  

Hey Chris, welcome!  What area of Phoenix are planning to buy and flip?

Jay, if you're willing to get your hands dirty and factor in that you will receive little to no appreciation - then go for it.  You can certainly find cashflow positive properties and going for the student rental niche is a good strategy.

We looked at Windsor very seriously several years ago as a colleague was doing very well there.  He still has several properties there but has moved focus to other cities.

The city didn't fit our model as it's in population decline and the rental pool is ... unique, lets say.

Ken mentioned above that flipping is where the $ is at in Toronto and I agree.  

We've shifted our focus from Toronto towards growing cashflow positive cities in the US and the numbers are much more favorable.

Here is where a pool can be a benefit for a rental -if it's a common amenity such as in a condo.  

That way you are not responsible for the cleaning / maintenance / liability but at the same time you benefit from having that competitive advantage of having a pool.

Contact Tom Hogg @ The Mortgage Centre.   They are able to work with people in your situation. 

https://www.mortgagecentre.com/tomhogg

Our main business is in Phoenix.  Send me a PM if you need help establishing contacts.  We have an amazing team.

http://www.amazon.com/Plastic-Security-Shape-Camer...

Which way is it pointing?  They'll never know.  

When you're interviewing agents, ask them if they own or have owned any rentals themselves.  If they do/have, they'll most certainly have a much better idea of your needs.