All Forum Posts by: Hai Loc

Equity Partner needed for acquisition of a commercial NNN property that's generating an excess of $5M+ per year.

Hi everyone,

I purchased a Jr 1 Bed condo in Leslieville, Toronto right by Dundas and Carlaw back in Jan 2020, thinking it would be my primary residence until I start a family. Then, I started renting it out because I didn’t like living in that unit and also wanted to move to California, so I’m realizing I’m not sure it makes sense from an investment POV since I made the rookie mistake of not seeing it as an investment property first. 

I like the idea of holding at least one property that I can use as an investment vehicle, until such a time as I’d like to move into it myself. Is this something I should consider doing? Here are some numbers to help shed light…

Purchase price: $536,000, Sq ft: 513, average price per sq ft is 1081, and the building is 10 years old

Costs:
Interest payments: $10,164.51 a year
Taxes on net rental income: $1331.21
Property taxes: $2,211.60 a year
Property insurance: $497.52 a year
Maintenance fees: $3653.52 a year

**Total expenses**: $17,858.36
**Total gross rental income**: $1821/month or $21,852.00/year
**Difference: +$3993.64**

I guess in my head all the real estate investing I've read said I should be netting a positive cash flow, and I'm not which is why I'm not sure if I should keep it given I am technically netting out positive despite me having to take cahs out of pocket to continue funding the principle payments

I’m debating if I should sell, keep, or port my mortgage over to into another property that makes more sense from an investment perspective and also one I wouldn’t mind living in later when I am ready to settle down?

Thanks everyone for your advice!

Hi all

My main question is how can i refinance? My current vocation won't allow me to qualify for a mortgage. I'm all ears. I've already got 2 houses...

Thanks
Declan

Greetings everyone, 

I have been a member for close to a year and have yet to make my post. I'm looking forward to continue to learn as much as possible, make more connections, and soak up as much knowledge as possible in the Toronto Ontario market. 

Hi every one . As an ew member i am just exploring the opportunities in rental single / multi family homes.  working full time HVAC contractor i visit different homes on daily basis. i listened to bigger pocket pod cast many times and finally decide to jump in. i own two rental properties and have experience in fixing and renovating the house. at present i am exploring new deals but money is the major issue that is stopping me to go. the properties that i own already refinanced so no margin left in them. 

any feed back is appreciated

Hi guys, I'm looking to invest in rental properties in the Niagara Falls area and I'm looking for a real estate agent or investors to work with that have experience with income properties themselves in this area! Any suggestions would be appreciated! Thanks. 

Hi Guys,

I am currently at the beginning stages of studying real-estate investing and I am looking for any feedback to help me asses my level "readiness" to start executing on my first deal. Any advice or resources are more than welcome. Personally I feel more comfortable being on the over-prepared side (whilst avoiding analysis paralysis) vs. being purely an executor and jumping straight into a bad deal. Here is a high level summary of how I've prepared so far:

Books I've read: 1) ABC's of Real-estate investing, 2) Real Estate Investing in Canada, 3) The Book on Rental Property Investing. 

- I try to keep notes organized and create checklists and procedures to refer to later (for property analysis, & due diligence, etc.).

Courses (cheap or free): 1) Neal Bawa's Multifamily Bootcamp: Neal has a great data driven market analysis approach that ranks markets based on population growth, job growth, crime rates, affordability, etc. 2) Break Into CRE's Single Family Home Financial Analysis: This goes through an in-depth institutional excel model to forecast expected cashflow.

Other: I spend a lot of time on YouTube watching popular real-estate videos, but I find books and courses have more detail. I also listen to some podcasts but again, the information density is low so I tend to go towards books and free/cheap courses.

I have ~30k saved up to invest in my first property at this point. I am really interested in the multi family asset class (commercial) but I think my first step will be a single family home or small multi unit (4 units or less) in order to gain some experience and knowledge before complicate things and overwhelm myself, also raising capital seems is a huge time commitment on its own. One of my challenges is that I live in Canada, I love the US real-estate market but cross border financing is not that attractive so i will be forced to learn how to do seller financing. Alternatively i can invest in a less attractive Canadian market and reap the benefits of first home time buyer loans (5% down) but housing is expensive here so it wont take me very far & my market options will be limited.

My area of improvement believe is "boots on the ground" and networking. I really need to start involving myself in the community as I don't have any other friends or family that are passionate about real-estate investing to discuss with. knowing someone that could watch over my shoulder as i navigate my first deal would be ideal but also a privilege.  This post will be my first step in and hopefully connecting with some of you to share ideas!

Any Advice?