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All Forum Posts by: Fiorella Armoa

Fiorella Armoa has started 2 posts and replied 7 times.

Post: Multi-Family investment in Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2
Quote from @Adrian Nedelec:

Hey @Fiorella Armoa

Happy to connect- Local investor here in Edmonton. 

We also host a monthly meet-up (on zoom) with a focus on networking- next event is tomorrow evening. DM your email and I can send you the invite! 

 Hi @Adrian Nedelec, I just texted you. 

Post: RE and taxes - Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2
Quote from @Brandon P.:

The Canadian legislation considers rental income passive income, and in most cases it is subject to the highest corporate tax rate.

That being said, it can take several years to have taxable net income when you purchase real estate.

There is lots of information online about this, it just takes a bit of digging to find it. The link below has more information about the corporate tax rates in Canada.

https://www.canada.ca/en/reven...

 Thank you @Brandon P. for your input! Do you know anything about private lending and ways of bringing it to the Corp? Any experience on that?

Cheers,

Post: Multi-Family investment in Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2
Quote from @Stevo Sun:
Quote from @Fiorella Armoa:

Hello Community!

Anyone from Canada? I'd like to network :)

I have 3 investments properties in three different provinces. I know a little crazy but has been working so far. 

I'd like to know a little more about Regina -SK and Edmonton -AB; anyone from there that can share insights about those markets?

Thanks!

Hello! I'm in Calgary, AB. There are a group of Canadians on here. I'm also looking to build out a bit of a Canadian community and just using Reddit at the moment. If you are interested, I can send you the link! Welcome to BP!

 Hi @Stevo Sun! I’d love that! 

Post: RE and taxes - Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2

Hello!

Anyone in CA? I am a tax accountant looking to discuss some strategies I am planning to move to commercial. 

I am thinking of JV thru an LP, where a Corp is a liable partner. I already have investment properties, however just now makes sense to incorporate due to private lenders and investors approaching me.

Any thoughts? 

Post: Multi-Family investment in Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2

Hello Community!

Anyone from Canada? I'd like to network :)

I have 3 investments properties in three different provinces. I know a little crazy but has been working so far. 

I'd like to know a little more about Regina -SK and Edmonton -AB; anyone from there that can share insights about those markets?

Thanks!

Post: Resources for investing in Canada

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2

You are doing all the right things! It seems you just need that first investment to get into the game. 

Please do not get frustrated, there are plenty of opportunities out there, I promise!

I am located in BC - crazy market as you know - and I have invested in Moncton, New Brunswick and Windsor. All purchased for less than 400$, cash flow positive. 

I am missing your criteria, so I can not be of much help. But if you are willing to move away from central major cities, you could find the ROI or CoC you are looking for.

Post: Book keeping and property management software

Fiorella ArmoaPosted
  • Investor
  • BC
  • Posts 7
  • Votes 2

Hello Jackelyn,

Congratulations! 

I am an investor and a CPA with clients investors.

I use Quickbooks to manage my investments and it works - so far :) it also has invoicing and payment automation, however, you need to add the extra expenses (a repair) and this will happen with any software.

If you want to track the increase in value of the property you can just take some time to set up the accounts for that. Always useful to go to banks with the information handy (at least an approximate) when you are requesting a HELOC, another mortgage for a second investment, etc.

@Roy Cleeves mentioned a couple of software that are great for property management!

Also, check all the things you want to "save up for" and make an accrual in your end: for example vacancy rate. Those rainy funds are important. 

All the best!