All Forum Posts by: Eric Delcol

Heather Proctor You don't find good deals you make them. I know it sounds like a motivational point from cap'n obvious but it's the only way to differentiate yourself from other buyers. Think of ways in which you can bring something to the deal that your competition isn't. why should a seller take your offer? Maybe you can close fast. Maybe you have few conditions on your offer. Maybe your advantage comes from what you can do with the property after you close. Also remember the funnel ratio. On average it'll take at least 100 offers to close on one deal.

Hi Jessica Hicks "But I’m thinking in purchasing new I won’t have to worry about Maitenence for a while, and with a growing rental market, I’m thinking these rents will rise and the demand for new build will grow" Yes you are accurate in your assumption. However, you will be paying top dollar for a brand new build. Maybe try searching for existing houses less than 5 years old so you get the best of both worlds.

As a side note, is it wrong for me to work in a fee for my 'services'?

Hi Elizabeth

It depends on what your services entail.  Are you planning on recommending a few neighborhoods for him to check out?  (in which case IMO a fee is out of the question)

OR

are  you planning on sourcing a property for him and you essentially 'wholesale' the deal to him?  In which case I'm sure he'd be happy to pay you for that and you should most definitely charge for your time and effort.

Hi Cesar,

Now that you've narrowed your search down to several zips start looking at blocks.

For example, 33604 has four completely different markets in it alone - 

North of Kirby, West of North Blvd you can find cashflowing C-class properties.  

East of the 275 and South of Waters you would not want to walk around alone at night.

East of the 275 south of the river you can find decent B-class properties good for buy and hold with some appreciation.

West of the 275 and east of the river you'll find good fix n flips but will be hard pressed to find anything that cashflows.

Jason Meszaros It sounds like you have a solid plan and know what you want. Congratulations you're ahead of 1/2 of the newbies out there. Re: financing - Canada's lenders are much different than the US. South of the border you have literally hundreds of lenders. If you want something outside of what the big 5 will offer you try a local credit union.

Ps. They are in Phoenix. (My profile says Tampa because we invest in both cities and Tampa is our main focus right now).

David Vander Pol I work with a fantastic property management team. They charge a bit more than what you're currently paying. Send me a PM and I'll introduce you to them.

I plan to be there.

Hi Michael, I have a fantastic PM. They've overseen some rehab work for me with amazing results. If you'd like their contact send me a private message.

Hi Godfried, The Canadian market does not have many RTO offers. You can look at it two ways - there is no one doing rto because it's not profitable or no one is doing rto so I have no competition. Most people don't know what rto is so you will have to educate potential tenants. Typical closing (if financed) is 2-3 weeks. I know the best mortgage broker in the GTA. They're tech savvy ( I've never needed to go to their office), easy to talk to, and have the best rates. Send me a PM if you'd like their contact.