All Forum Posts by: Frederic Babeux

Not sure about the structure you are talking about but most of the articles I've read mention a limited partnership in the US since both Canada and the US treat those as pass through entities. 

You might want to do your research as I am no expert in the matter and haven't setup my own structure yet as I haven't bought anything yet...

Just looked at the numbers on a mortgage with 20% down and Joe above is right, principal paydown is much lower than I expected! 

Selling is your best bet as mentioned

I wouldn't say you're losing money if the tenant is paying your mortgage/hoa fees. Most likely you're building some kind of equity by having a tenant in there paying down the capital on your mortgage.

Now it all depends on your investment goals.. 

Do your research on llc for Canadians, might not be the best structure available. 

You might get double taxation. 

I recommend consulting a cross border attorney for more details! 

As a fellow Canadian who just started looking in Rochester, there seems to be some deals to be had, I think you just have to be fast about it. 

As Mark mentionned, 19th ward seems to be desirable by alot of investors but depending on your budget you might find there is not that much volume and anything decent will go fast. 

I went to visit a few houses last weekend and you really have to go out there to get a feel of the area/houses. Sometimes pictures and reality are wayyyy off. I made an offer on a duplex that needed some work but lost it to someone who had no inspection contingency. 

Best of luck and feel free to reach out and connect! 

Like most people said already, get in now, get experience and don't time the market. 

That is a great story, it really shows that motivation and having the will to succeed works wonders. 

Congrats on your success and I hope you never have to be in the position you were in before! 

@Joe West Thank you, I'll definetly take a look!

@Martin Grizzanti Sent you a request to connect!

Hello all,

I was considering investing in Rochester NY this year. My goal is buy and hold and the reason why I chose this region is because it's close-ish to me (5 1/2 hrs drive) and the prices fit my current budget. I am aware that some neighborhoods are rougher than some others and would like some guidance to make a good decision. My first purchase would be all cash and then I look into adding more with leverage depending on performance/how i like it.

Also, do you have any locals to recommend? PMs, Realtors, real estate lawyers etc etc.

Thank you in advance!

Hey @Alshan San, 

I would run the numbers and see if it cash flows with full ask, then if it does, any decrease in selling price will most likely boost your cash flow even more. 

Be sure to account for vacancy, repairs/maintenance /capex, insurance taxes and snow removal. 

You're right that real estate in Canada is more expensive than most US states

Good luck!