All Forum Posts by: Gary McGowan

I have 17 unit building for sale in Newmarket. 

Hey @May Goldberg welcome to BP... Always great to see more local people here!!! 

Where are you looking to buy the multifamily properties? 

Hi @Angelo Vella  Welcome to BP. I live in Newmarket and own a number of Investment properties around the GTA. 

Although for the past few months I have been lying low on BP I host a monthly Meetup group that is all about networking with other Real Estate Investors. The next one is Jan 21st. You can me PM for the details. One of the topics will be about "Buying Properties in a Corporation". 

I came up with three question a few years ago when I was buying a lot of my properties. You can expand on each one. 

1. How are you going to buy this property?

2. How can you add value to this property?

3. How can you sell this property? 

My clients love these questions, they are easy to remember. The last one is the most important as it deals with location.  Hope this helps. 

That's great Cluade! I have often thought that would be a great income generator for a property. None of my Buildings are big enough to reap the rewards.  

I also think Public schools would be a great place for those systems.

Welcome !!! If you invest in Durham you need to check the Durham REI meetup group which is run by Quentin D'Souza

Hi @Sergey S.

I'm an investor and realtor, PM me and I can send a couple of great Broker contacts for her in the area. The best advice I would tell your wife when just starting out is to also look for a brokerage with a TOP NOTCH training program. 

You may want to look at RBC for that mortgage as they are the only Lender that allows residential financing on buildings up to 6 units. If you would like I can send you my (via PM) contact for RBC. 

@Nick Ovington 

Those are all good markets. I  own in Barrie and in Hamilton. You may want to get your feet wet with one or two of your properties then look to Joint Ventures partnerships. I have bought almost 30 different investment properties this way. 

@John Turner Jeff is right, there are not a lot of Multis that hit the market and stay on the market. You will need to act quickly when you find one. Even here in Newmarket I listed a 17 unit building and things are moving fast. 

I would recommend becoming an area expert in one location first. If you want to buy duplexes in Barrie know that market like the back of your hand. Know the values, the rents, the upside the downside, the hot pockets and so on. btw, I love the Barrie market, I own a few buildings there among other areas as well. 

Top three questions to ask when buying an investment property.

1. How are you going to buy it?

2. How are you going to add value to it?

3. How are you going to sell it?

If you can answer all three, then you are heading in the right direction.