All Forum Posts by: Joel Senko

@Mark Neudorf that’s awesome! I live in Prince Albert but am looking at investing in Saskatoon for obvious reasons, where exactly is the property your going to view? And if you don’t mind me asking how did You manage to get funding for a multi family complex or have you done it all solo.

@Jacob Perez I live in Saskatchewan, I would have thought so too but like I said that’s just what I heard so I’m not sure if it’s true, I only own 1 house right now also.

I have been looking into multi-family properties for the past 5 months in my area and have found a few interesting deals. I’ve come to the realization that I obviously can’t afford the downpayment for a 1-2 million dollar deal and have also been made aware that in my area if you personally own more than 4 doors you get taxed @ 50% rent income. Which is absurd if it is true. This leads me to the thought of: should I start an investment company to attract investors, and not be taxed as an individual but instead as a corporation. Also any tips from any other multi-family investors who have had success, and how did you start out? ( # of units first purchased, how you got investor money, how you came across the deal, etc...)

Thanks for any feedback.

I’ve been looking into property management firms and can’t seem to find anyone under a flat rate of 20-30% of rent income. Do any of you guys have property managers and if so who? And how much do they charge? Listening to podcasts and videos everyone claims to have a property manager of 10% or less lots of the time but that seems like fake news now that I look into it. I know being in Canada the rules are obviously different but if you have any advice or info let me know :)

I’ve been thinking about getting a real estate lisence recently as I think it would help me with success in my investing portfolio. I’ve been torn though. What are the pros and cons of starting out, ive wanted to be an agent for a few years now and now that im seriously considering it i dont know if i should pull the trigger. One of the things holding me back is being so young I feel like lots of people don’t take me seriously at times. Also any advice on books to read. Thanks!

Have heard of great returns from forclosure homes, just wondering what you guys think of them and who has experience ( good or bad) thx for the input.

Expenses on the property: Taxes-15,910/ yr Insurance-2224/yr Repairs/maintence-11,618/yr Utilities-3844/yr Plus a mortgage of 67,200/yr Do these look off?

New to the website/app looking for general advice from experienced investors, what to do with my money, how to invest properly, what worked best for all of you. Thanks.

New to the website/app looking for general advice from experienced investors, what to do with my money, how to invest properly, what worked best for all of you. Thanks.

@Theo Hicks I have gotten numbers back on the propterty and they are as follows: Total rent income in 2017: -$159,173 Total expenses: -$33,596 Total cash flow- $125,577/yr These numbers are without a mortgage also and a million dollar mortgage at 5% interest is approx $5600/month=67,200/yr 125,577-67,000=$58,577/yr cash flow The building was renovated 14 years ago new windows,stucco, roofing, cabinets, doors (exterior, interior), faucets There Is also room for a rent Increase as it is about $100 under average in the area. These numbers are still appealing but maybe it’s just me. What do you guys think?