All Forum Posts by: Hai Loc

Hi all, I'm from Toronto and been doing research into South Carolina's Multifamily market, specifically Greenville, Charleston, Columbia. 

I come from a decade of experience in sales, with a client base and network grounded in entrepeneurs, and executive/partners on Bay St (Canada's Wall St). Recently decided to jump off the deep end and start my journey in Syndication. 

I'd appreciate some insight from some local investors. From what I can tell, Charleston is considered a Growth market, Columbia an Income Market, and Greenville appears to be a hybrid (this is what I'm looking for). 

I've also done some high level analysis of Nashville TN, Tampa FL, and the state of Georgia. SC seems to be the most intriguing to me so far. 

Looking forward to connecting with you all. 

Hello looking to break into the US market in 2024. I have 1 unit in Toronto Canada and want to look for opportunities across the border. If any one has experience with this it would help (Mainly the lending process) Toronto is a vibrant city with lots of renters but it’s also expensive and renters have more rights than landlords. 

Hello community! I'm Alejandro and me and my wife are doing our research to start investing in the US. So far, we have shortlisted Columbus, Orlando, Indiana, Vegas and Rochester.

we live in Toronto and we really would like to connect with people like us who already started their journey to know about their experiences and insights of investing in the US! 

We are open to meeting over a coffee, DMs, etc.

Have a great day!

@Hai Loc I think the small MF market is way over priced and people are willing to pay  crazy prices. Those folks need to work on their underwriting skills. 

Not knowing any more about the property. 400 returning 30 is the most I'd be willing to pay. All the best!

Hello Investors,

I am a carpenter working full time in Toronto I have set my goals high to become a successful real estate investor and am willing to put in all the work it takes to get there.

I have spent the last few years learning and planning it out and I would like to take action this year and buy my first property. My plan is to buy a duplex or triplex that I can cashflow through rentals and add value then ultimately refinance and buy more (brrrr method).

As of right now I am working through the process of deciding on which market I want to invest in. I've gone to a few meetups and it has swayed my decision around a bit. My price range is 300k so my hometown Toronto is out of the question. What I am looking at is. 

1) Small town Ontario. Hamilton, Brantford, Sudbury, Welland or similar towns. I like the idea of investing in these parts best because while it is a commute I will still be able to visit the property when necessary. My biggest concern is how many people have told me the struggles investing in Ontario because of tenant-friendly laws. I've been warned that tenants can go months without paying rent and a situation like that would make it hard for me to keep up with payments.

2) New Brunswick. After going to afew REI meetups with a group I am in I have noticed a common trend that many investors love New Brunswick. Mostly because landlords have more power and freedom to raise rents and get rid of bad tenants much unlike Ontario. Some of these investors have bought these properties without even visiting them and claim it is going very well for them. I have been strongly encouraged to invest in here. The idea sounds great and I am considering it. I have never been and I don't know much else about NB but I am currently doing my research. Any investors in that market please reach out!

3) Alberta. Once again I have only heard good things about this market yet I don't know much about it myself. I will be doing my research but any advice will be greatly appreciated!

I am still new and learning and there is more research to be done on my part but any insight will be greatly impactful!

Hi everyone,

Recently started listening to the BiggerPockets podcast and am here to learn more!

I'm still very new at this, currently, I have a rental and primary property that's mortgage-free in Ontario.

A few questions I have:

1) In addition to a HELOC, are there other options available to access the equity of my two Ontario properties?

2) I am planning to renovate and rent out the basement of my primary property to generate cash flow. What is the average cost of renovating a basement apartment with 3 bedrooms and a kitchen in Toronto to make it suitable for renting?

3) Can you recommend other cities in Ontario that I should consider for purchasing properties? Additionally, which provinces and US states are landlord-friendly and worth exploring?

4) I am also interested in purchasing properties in Mexico (Playa del Carmen / Tulum) and would like to know if anyone has any experience with this. What are some things to be cautious of when buying properties there?

Thanks in advance!

Hi everyone,

I am a finance professional in Toronto and I want to explore a career as a a real estate developer. Could anyone who has become a "self made" developer please provide some guidance on how they did it? I feel like there are no formal "development" education or training resources available and existing developers are reluctant to meet for coffee or provide guidance (which is so surprising to me given the lack of supply. I wonder why the government isn't encouraging more people to become developers compared to the money they are putting into VCs

What would be a good step by step approach to becoming a developer?

Any advice is greatly appreciated :)

Hi All,

This is my first time using this website so hopefully this is allowed here. I'm in Ontario, and I have a client with a piece of Vacant Land located in the Niagara Region. The size of this land is around 220 ft by 150 ft deep. I'm considering buying the land from them in order to divide it into 5 building lots, and then developing a detached home (only option due to current zoning) on each lot. The lot is currently cleared of all debris and would not need anything other than municipal services (Water and Sewage) brought to it.  I would Develop the floor plans myself as I have enough prior experience with pre-construction sales and know what makes a good floor plan that is easy to sell. I would hire a General Contractor or Experienced builder to handle the building of the homes. 

So my questions are as follows:

-How to get funding to do this? I'm A Real Estate Agent, so with my knowledge of the area, in the current Market, I expect to be able to sell a brand new home on a 40 by 150 ft lot for around 700k in the region (give or take depending on size of home/floor plan chosen). So for 5 homes, that's $3.5 m in Sales. I expect the land to be valued at 500k. Which leads to my second question.

-How do I get a close estimation for all costs to complete this project? From what I've researched, the costs to build a "cookie cutter" home is anywhere from $150-450psf. I would need the costs to be, at most, $280 per sq ft for an 1800 sq ft home.  If the total costs to build each home is 500k, that leaves quite a bit of profit. $3.5m in sales, minus $2.5 Million to build, plus 500k for cost of land, creating around 500k in profits. Timeline would be 12-15 months. 

If anyone here would want to discuss lending options, I'm open to it.  I can give more specific details if needed to anyone. 

Thanks for your time,