All Forum Posts by: Stephen Hickey

I am interested in a meetup 

Where are you looking? I have 2 units in the west end of St John’s but would never consider another rental in the city because the cash flow just isn’t there.  

I am an investor in St. John’s, and I do not see value in any property in the area. Split entry bungalows for $400k. There is very little multi family available and the buildings that are, well, they come with a hefty price tag. 

I would be looking outside the city. I’m talking to a private seller on a 7-unit building for 250k which cash flows $2k a month. 

This is incredible

I'm not sure about the USA, but I know that in Canada you can build the cost of repairs into a property by adding it to the purchase price. 

The banks here handle it in a couple of ways. They could allot money above the sale price to be for repairs and pay out a contract if you have a signed agreement in place with a contractor. The other way I know of is they will reimburse the funds you spend from a pool of available renovation cash when you present them with receipts for work done. I know there's more to it than that, but it's an idea as to how it can work up here. 

I hope this helps. 

@Roy N. But I was born in Oromocto and lived in New Brunswick. Hope that helps me haha!

Hi everyone, 

I am a new prospective investor from Newfoundland, Canada. I found BP through talking with my boss who is a 12-year real estate investor; he gave me a list of resources to check out. I've been listening to archived episodes of the podcast for the last few weeks and just recently joined the site. 

Currently, I have one investment property, a 2-unit home in my hometown of St. John's. I am looking to purchase another small multi-family building of 3-4 units where I can add value to gain equity to get a third property, and so on. 

I am interested in talking to anybody who can provide guidance, advice, and opinions on any concerns I have as I move forward. The goal, of course, is financial freedom. I have a well-paying job, but I would walk away from it all if passive income from REI were able to replace my employment income.

Feel free to reach out to me at any time to talk investing, deals, or to expand our networks. 

Cheers!

Stephen 

East coast here. St. John's, Newfoundland & Labrador