All Forum Posts by: Evan Murray

Hey All, This isn't my first post but its been a while since Ive done so, I am based out of Mississauga and/or Brampton depending on when you read this and since my last post I have sold my first rental property (closing in a couple days) and purchased another investment property that closes in June. I also plan on investing in another property later on this year in either London or Windsor Ontario. Is anyone interested in meeting up as I am always trying to expand my RE Network to surround myself with like minded individuals physically closer to where I live

I’m a real estate investor from Toronto (mainly buy and hold, short term rental) for 5 properties. I am buying utilities from the same companies (Teksavvy for internet, Union gas, alectra for hydro) I am curious if there are any utility service providers that offer discounts with the more properties that are added to the account? I feel like I’m missing an opportunity here and want to make sure I’m optimizing my cash flow

Hello All,

I am still relatively new to BP community but I am well aware of the value of continuing to chat and connect with like minded individuals.

I recently closed my 5th investment property a month ago and I am looking to see what my options are to secure further financing (extending my existing HELOC) to invest into my properties. (currently invested in Milton, Brampton, Mississauga & London x2)

My barrier right now is I have over $100-$150k in Equity of at least two of my rentals and I have pulled $60K from one of them a couple years ago. When I went back to the bank to get a HELOC on the other property that doesnt have a HELOC, it seems that Im at a point where I am highly leveraged and too much of a risk despite having a good salary, and consistent track record of rent that is cash flow positive.

Is there anything I can do to be creative to convince the bank to provide me with another HELOC? I have to option to add my dad as a co-signer on the HELOC but not sure if that will help or change anything. Are there specific tips that investors use when they are at this point in how they request the funds to make their application look more attractive to an A lender bank?

Thanks Guys!

Evan

Hey Dave, thanks for the quick reply but in the Canadian market I’m looking at (london Ontario) has fantastic purchase prices but it is still a stretch to get to the 1% rule let alone 2%. I would love to know an ideal cap rate and ideal cash on cash return rate 

Hey Guys, To give you some background about me, I'm a 5 years real estate investor of 4 single family homes in 3 different Canadian markets all of which are cash flow positive of $750-1200/month CAD (Im Canadian :)). I want to move towards multi-family homes (duplex/triplex or 4plex) and would love to know the target metrics you look for in multi-family (i.e. ideal cap rates, preferred cash on cash percentages, Payback period, ROI).

I am familiar with the 1% rule, but I have really just been lucky with getting cash flow with the properties I own and I really want to make sure Im prepared when I step up my investing game in this wonderful world of real estate