All Forum Posts by: Jacob Perez

Hey @Michael Campanile - Feel free to send me a DM we can jump on a call & I can give you good context in Hamilton.

Lots of great areas to invest and very little to any sketchy locations. Securing a tenant is pretty easy similar to many markets in Ontario. 

for a 2 bed 1 bath, it would depend:

• Main floor 1600-1800
• Basement 1300-1500
• Condo: Really depends how nice it is, location, etc. $1600 - 1900 depending.
  

@Dylan Bergum Both great markets Hamilton is an awesome city, majority of my portfolio is Hamilton. Send a DM & we can set up a call, happy to go over details with you about where to invest.

Jacob

Not to be argumentative, but @Huong Luu's assessment is not really accurate. For BRRRs you'll find more opportunity down the mountain as there are more homes with Triplex & Fourplex potential. It's not as simple as "rough down the mountain & nice up the mountain" & you definitely don't need to buy near a GO or Hospital. Hamilton has 2 Go-stations and majority fo GO users still drive to Burlington to take the train as there is more service. Rents & Quality of tenants will be good anywhere in the city as long as your units are nice.

@Kim Wu Feel free to DM & we can get on a call to discuss Hamilton. 

Yes you can BRRR in this market but hard to find the good deals as everyone is going after similar asset class. With that said, you don't need to hit 1% rule in order to be cash flow positive. Happy to review some BRRRs i've done recently to provide some context.

@Liz Steeves - I'm a mortgage agent, I work exclusively with investors. Would be happy to chat offline re: any questions you may have.

Have helped tones of people here on BP in Canada.

@Scott Isbister As many have mentioned, just depends on the lender specifically, some yes some no. We do BRRR transactions out of my brokerage (usually 40-60 buys or refinance a month) & have no issues.

Happy to chat whenever.

Hey @Tony P. - I'm a mortgage agent, if you want to DM me the listing I can break down how the financing would work on this one. 

Hey @Bilal Kozak there are basically 4 main types of Mortgage lending options:

1. 
   Major Banks, Credit Unions, Monolines etc.- Subject to federal lending regulation, lowest interest options, can buy with as little as 5% down.
2. Alternative lending options (easier approvals for people with weaker credit or unconventional income sources) Full bank underwriting process. Requires at least 20% down, interest rates range from 3.8-5.99% depending on the file.
3. Private Lending (highest interest option but easiest to finance generally based on equity in the property) - Requires at least 20% down - Interest rates start around 9%
4. Vendor Take Back Options (this is negotiated directly with the seller where the seller will mortgage you the property for a monthly payment including interest). Often used when the property itself isn't easy to finance / sell or if the seller simply wants to earn extra interest and doesn't need a lump sum payout.

Working with a good mortgage broker (like me lol) will give you access to navigating all of this.

Jacob

Hey @Pedro Ferreira - I can definitely help with this - feel free to send a DM.

Do these all the time. No issues really on my end but I always all agreements legally vetted & I'm careful who I allow to be my money partners.