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All Forum Posts by: Account Closed

Account Closed has started 11 posts and replied 35 times.

Post: Looking for Mentors

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hi Robyn, I'll DM you

Post: Investing in Sydney, Nova Scotia

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46
Quote from @Dustin Szeto:

Hey everyone,

I'm just getting started with real estate investing and I've set my sights on Sydney. I'm on the hunt for a good realtor who knows the area like the back of their hand.

If you've worked with someone awesome or know someone who has, I'd love to hear about it. Any recommendations would be super helpful.

Thanks a bunch!


 Hey Dustin, DM me .  I have some contacts there

Post: Do you do appraisal before or after offer?

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hey @Juyoung Cho. Im an investor and mortgagre broker in Halifax, NS. I always estimate my ARV with market comps and if its multifamily (5+ unit) I use a mix of comps + income approach.

I read through some comments and sounds like some US investors do things a bit differently there. For my investments (in halifax), if i find a property that looks like there is potential based on my numbers, I will get it under contract, then have as "AS-IS" and "AS-COMPLETE" appraisal done. The as-is will be needed for the bank, and the as-complete will give you a more confident ARV to base your refi off of. We typically dont move forward with the project if the as-complete appraisal does not come in where we need it to be.

Note: Not many brokerages work this way.  I work with an investor focused brokerage that specializes in these types of project.  

Last note, I've found the income approach is quite strict in the US, however at least in halifax, appraisers use a balance of income, comparable and cost approach.  Our financing in Canada is much much more strict than US...


Hope this help.  If you have more questions feel free to DM me

Post: Attention Halifax Real Estate Investors

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hey @Charlie Lilly Im hosting a meetup Thursday.  Feel free to come

Post: New To Commercial Real Estate

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hey Max, 

Im from Halifax as well - nice to meet more on here! I invest in residential real estate from single family to small apartment buildings.  I 2nd above that the internet is a hugely powerful tool.  

Strategy Learning: BiggerPockets podcast & the RISE real estate podcast for Cad investing. 

Analysis: The best for me was learning from other people.  I spend a lot of time analyzing deals and reaching out to others to piece together my knowledge.  This can take a bit of time so my next suggestion is probably what you're looking for.

Coaching/Mentor:  If i spent $ on a coach or mentor I would have saved myself 1/2 the time.  I dont regret this, but would recommend this path to others.  Now...how to find a good coach or mentor.  This will take time finding options and researching backgrounds.  I'd suggest asking others.  I know for real estate investors the Kory McKinnon coaching program is quite well done.  It is pricey though.  Alternatively, wealthgenius is quite popular, however I can't comment on the program itself.  

Lastly, if you want to get more connected in Halifax definitely check out the next meetup I'll be hosting.  DM me for details!

Cheers!

Post: Looking to Network

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hey Charlie, great to hear your story! Having experienced real estate investors around you while growing up sounds like its been quite impactful. 

I'm a real estate investor and mortgage broker in Halifax.  I run a monthly meetup which is happening Feb 22 (tomorrow) in Halifax.  I highly recommend you check it out to network with other real estate invesorts, contractors, agents and more


Dont hesistate to reach out to chat investing :)

Post: new Canadian member looking to meet other members

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hi Corey,

Glad to see youre interested in real estate!  There are a ton of resources out there to get involved, Bigger Pockets being one of them.  

Specific to Halifax, I'm organizing a get together this Thursday at the waterfront wearhouse. 

Cheers

Janelle

Post: Canadian equivalent of AgentPro 24/7 (Finding Owner Information)

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hi Jason, I would agree for Downtown Halifax and surrounding area you'll find 4.5 -5.5% cap rates.  For smaller multis such as 4 and 5 plexes I find them in the 4-4.5% range as well.  Seems they end up in a grey limbo area between regular residential valuations and income based valuations.  Honestly, if you are looking on market, its extremely tough out there.  My business partner and I do pretty much only off market deals.  Your goals will define your strategy however.

Post: Canadian equivalent of AgentPro 24/7 (Finding Owner Information)

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hey @Jason Thompson, I invest in Nova Scotia in Class B and C properties. Feel free to message me and we can chat about Canadian investing anytime.

Janelle

Post: Looking to connect with Commercial Agents - 100 units PLUS!

Account ClosedPosted
  • Rental Property Investor
  • Halifax, NS
  • Posts 40
  • Votes 46

Hi Taylor,

Fantastic! Thanks for the advice, its much appreciated.  I believe we are on the right track.  We've done the market research, nailed our criteria down and most importantly have experience to back us up.  We are also working with a partner who has closed $30 Million in real estate in the last few years to guide us along, adding to our combined experience further

Regards,

Janelle