All Forum Posts by: Jasmine May

To be totally honest, it is FOMO. I am sitting on about $500k cash and bidding wars everywhere.  LOGICALLY speaking, I shouldn't be investing now. We are in the middle of a huge pandemic, low immigration, university students not coming back this year, CERB/mortgage deferrals ending soon. I think I should just see how this winter turns out. 

BUT nothing is following logic these days. 

Bidding wars in RE in the backdrop of huge unemployment and epic recession !! I am losing my mind! 

Thanks for your response Chris and Theresa. What sort of cash flows would you expect generally?

 Can you show me some numbers please? 

This specific property, according to my model, cashflows about $40 per month. That's after paying mortgage (20% deposit), insurance and property taxes. I've accounted for 2% vacancy. 

Freehold property $340k - rents at around $2000pm. Property taxes $300pm.

What's going on with Halifax? Crazy bidding wars everywhere and rents are through the roof! For average incomes here, rents are way too high! 

I'm not sure if I should wait until fall or just jump in if the numbers make sense! 

I've been looking at investment options around Halifax area lately. Whats your take on investing in vacant lots in family friendly suburbs like Sackville or Fall River? 

I have this thing for land, perhaps because its so valuable here in the UK ! 

Hello everyone! Been out of action for a while. Busy with preparing for our big move! 

Thanks Danny. I'll get in touch soon :) 

@Patrick Archer

I think I’ll do that.

Thanks Patrick and David. 

I have this 500k currently invested (relatively low risk highly liquid) returning just over 7%. To beat this and to make the risk and effort worthwhile, I need to leverage well. 

I’ll redo my numbers tonite. 

On my husband’s 100k income, We will be maxing out mortgage for our family home (deposit saved separately, it won’t come from the 500k set aside for investing). Does that mean we possibly can’t borrow anymore for buying investment properties? 

My situation is: $500k to invest, new immigrants. I was planning to  acquire 10 properties over the next 2 years, worth 250k each with 50k down on each. I have some more money saved up for closing costs and other expenses. 

Income : I'll have to find a job then. What kind of income would I need to qualify ? I have IT skills (and experience)

Credit:  I'll explore ways to build credit from here. Im a landed immigrant now. So I can open a bank account etc. I'll see if they let me get a credit card. 

Thanks Tim and Jacob.

We have Canadian PR visas and we'll start investing after we move (early next year)

Sorry if this appears naive. I live in the UK and we are moving to Canada shortly. I'm asking to make sure my assumption is right as this is pretty fundamental to my plans! 

I will not have any credit history in Canada to begin with. I will also not have a job! (I'll be setting up a RE business - cash flow will be my income). If I put 20% down, would banks lend me the rest based on rental potential ALONE or do they need to see some kind of personal income for me?