All Forum Posts by: Hai Loc

My name is Gursimran. I am listening to BP podcasts and have read book on rental properties by Brandon Turner. I am 27 years old, i know its never late to start what you dream. So i am looking for a start my REI journey, although prices are sky-rocketing these days but there is always a potential to get into the market.

I am targeting east Ontario because prices are bit reasonable. But it will be 2 hour journey from my place of work and residing.So any suggestions is it worth buying in that area in the area? 

@Paul Britton Thank you. I tried RBC already. They can't open a US business account, for an LLC and LP registered in the US. Their requirement is that if it's a US entity, I need to register an entity here in Canada with the same name, then open a Canadian RBC business account, let it season for 6-12, months then open the US business account... can't wait that long... that's what I was told. Do you invest in US from Canada? If so any tips on what I can ask RBC... or what worked for you?

Cheers.

@Hai Loc - I invest out here, every market seems to get more competitive year over year. Last deal I did in port colborne was really good, picked it up off market.

I completely agree with the speculation part.  I have close friend that is still willing to buy preconstrution townhouses in gta for 1.3mil and it is not for personal use.  

The completion date is in 3 years and it is a speculative play.  The builder is already pricing in 10% increase a year as a typical townhouse sells for about 1 mil.  

It is quite reckless IMO 

To OP as long as you have leave reasonable margin, and enough monthly positive cash flow you can still net some deals but you need to be quick.  Make sure don’t skip the finance and inspection conditions though.