All Forum Posts by: Justin Currie

Great, thanks for the info @Maria M.

Hello, 

I was just curious if anyone has tried out AirDna's investment explorer? I don't see any reviews directly for this tool previously posted in the forum. 

It comes with a hefty price tag but if the information is accurate it's worth every penny in my mind. Let me know your thoughts. 

Thanks, 

Justin

Thanks @Rick Baggenstoss, that definitely gives a really good outline to start with. 

The only thing that is unclear would be the 10% equity for Hosting and Maintenance as 100% of the appreciation would be allocated to Mort Resp and Cash in. Not sure what I'm missing? 

Hello BP, 

My partners and I are looking at putting an offer in on a property to rent out on Airbnb in a resort town here in Canada.

I would be obtaining the mortgage in my name and assuming all of the risk, my partners (a couple working as one) only want to add cash to the deal. We would be splitting the 25% down payment right down the middle. In this scenario, obviously the profit ratio percentage would change. 

What is a fair ratio given the above situation? 

Also what is a fair ratio pending my partners are not on the mortgage but assume the risk of any losses through a separate contract? 

Any info or ideas are greatly appreciated. 

Justin

Hello BP, 

I've recently found some JV partners here in Canada interested in real estate south of the border. As we'd be doing cash buys (only $40-50,000 properties to begin), I had a few questions regarding taxes:

 - Would buying in the US mean filing a US tax return or is there a way around this? 

 - I would prefer to purchase personally but is there any benefit to owning under a company banner? Tax benefits or otherwise? 

 - Is an escrow account a requirement? 

Obviously I'll be in touch with an accountant for more information but even a little guidance would be greatly appreciated. I want to be as prepared as possible as I plan on making a trip mid August to look at properties. 

Thanks in advance!

Hello all, 

I have been involved with many investments but am looking for my first REI venture. I'm in Calgary, AB and have two possible scenarios to jump in to the market.

1. Buy in Calgary as a permanent residence and do a flip. ($670,000 pre-approval)

          - Problem: After down payment and money being allocated to other areas, I will not have an extra $50,000 for renovations. In my market, adding reno's to the mortgage results in huge penalties when selling. What are my options to finance renovations? 

          - It is also risky in my market as renting isn't really an option with a minimal down payment as the cap rates are extremely low. 

2. Invest in the US market. With some of the lower prices it's feasible to put 25% down payments on properties. With the higher cap rates it seems to offset the higher interest rate and poor Canadian dollar. Also securing a mortgage with a US bank would only require me to pay the dollar difference on the initial down payment. 

A couple members on here have reached out on other posts who I plan on getting in contact with to explore options.

Any recommendations on my scenario?

@Account Closed Good to hear, keep in touch and maybe we can help each other out with the buying/tax process. I'll let you know if I track down any helpful info. 

@Michaela G. Appreciate the warning.

Thanks @Jason Weible, Ohio has definitely been on my radar and if I head that direction I will be in touch. 

Yes @Tom Ott, the cap rates in the US are impressive for turn key properties...I don't have a huge amount of cash to start out so I was hoping to flip and build a solid base before I started into turn key. Definitely something I'm interested in. Thanks

Hello, 

I'm an investor in Calgary, AB, Canada and looking into the BRRRR strategy to diversify.....I'm sure most of you know the cap rates in my area are minimal at best. Just wondering if anyone out there knows of Canadians investing in the US markets?

The cap rates in the US are very appealing but there are several disadvantages such as, CAD vs USD, higher interest rates for foreign buyers...Just curious if this balance could still be favorable for a Canadian investor even with the disadvantages? 

Or if there are any established JV partners who think we could arrange a win/win, shoot me a message.

Thanks everyone, 

Justin