All Forum Posts by: Jacob Perez

@Lynn Anthony - Great Q. As of now, the raising rates would really just be a small impact on cashflow. On the other hand, if the rates get to the point where the qualifying rate increases that could impact your ability to qualify for the refinance.

Your mortgage broker should be able to project this for you.

DM if you need help here.

Hey @Joe Brown,

Welcome to BP - Tones of great contacts here. i've been investing in small & large multi-family in Ontario for years. It's a great place to start. 

With that said would be happy to chat anytime. Feel free to send a DM.

Hey @Doug Findlay - Happy to help you out feel free to send a DM. I've been investing in Hamilton primarily (where I live) as well as Niagara & Sarnia the last 8 years or so.

Proximity for the purpose of fixing small maintenance issues I would say is not a priority, proximity to management renovation, etc depending on the type of strategy that works for you is a different thing.

Hey @Ryan Martin,

Send a DM - I've helped hundreds of investors do the BRRR strategy on the mortgage side. The key thing is choosing the right appraiser in the location who would be willing to use the best comps vs. the first 3 they see. Easier said then done.

Hey @Patti T. Appraisals are only valid for about 90 days so unless you're going to qualify for the mortgage / home equity line within that window it wouldn't make a ton of sense to do so.

Feel free to send a DM and we can take a deeper look here.

Hey @Elijah Williamson - You can put 5% down on multiple properties in Canada. The criteria is that is must be a purchase under 1M & be your primary residence. 

The situation you described is do able. Buy a home, live in it a year or so, move, and keep it as a rental, buy again for 5% down.

Feel free to DM to chat further.

@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.

@Zorya Belanger & @Account Closed - Would you not consider demand a legitimate economic driver? 

There is clearly a lack of supply in the country. We have a government that has done zero to address the supply issue & in addition we are bringing in record numbers in immigration year over year.

That is the clear driver. Building costs continue to rise, thus re-sale market continues to heat up. Certain asset classes are safer then others.

Where you find success in this market is the same as any other really. Determine the metrics that you value in your investment (cash flow minimums, tenant quality, BRRR potential etc.) & proceed forward if you find what you're looking for.

Hey @Chantell Austen,

Sorry to hear about your experience, happy to take a look at your file to see if there's something that was missing there. I think the key piece is communication and making you understand the why if a private was your only opportunity.

Feel free to DM if you'd like my team to review.

@Taylor Paterson

Congrats on taking the leap here. I've helped a lot of people here on BP strategize so they can qualify for as much as possible.

Ditto to Roy's markets above. Sudbury has very good underlying fundamentals and purchase prices as well.