All Forum Posts by: Kash Jawed

what’s the vacancy rate there ? 

how’s the market for smaller multiifamily there?

I work in Edmonton downtown. It’s turning around but is still quite weak. I was planning to do corporate rentals but after investigating with company we use for corporate rentals, the vacancy is around 70% which is pretty weak. I prefer Ontario. 

harder to find 1% but i've been able to use BRRR strategy around Hamilton area in Ontario. Gives a pretty good CoC return. I hear St. Catherine is also another option.

I’d suggest buy and hold if the wealth is to be passed on. 

A good strategy I’ve been following is buy, reno, refi and rent. This way you are able to pull out most of your investment and acquire more properties where you can add value. I do this mostly in Hamilton area. Happy to answer any questions you may have. 

Thank you. Great information !

these numbers are normal for a condo in Toronto. I wouldn't invest in it as you only depend on appreciation, not cash flow. If you want to invest, there are better deals an hour drive from Toronto. I invest in KWC and Hamilton area. Most of my "Deals" come from MLS (yes, I negotiate deals although many ppl. might think MLS doesn't have deals)

My recent 2 deals were 30k below asking/market and other was a BRRR (Waterloo and Hamilton) - both off of MLS.

You just have to be creative. Other option is off market deals, I work full time and don't have time to knock doors or send flyers so I spend time where I'm good at - creating deals. I've had wholesalers bring me deals but none were that good (wholesalers have brought me great deals in London which is currently not my target OR Windsor which is currently high risk market as per many lenders I spoke to)

I also have a condo in Toronto which I bought pre-construction (due to the layout. 1+den with 2 bathroom for price of 1 bedroom. The den is large enough to be a bedroom. It will generate a positive cashflow when built.)

Second condo is a 1 bedroom at M-city (very first phase/batch) which I got for a pretty good price due to relationship with the brokers. (Platinum VIP). It will also cash flow once built. High floor facing city, etc.

These condos were primarily for speculation (which has worked well) but I CYA'd since I knew I can cashflow with these. Do not buy a negative cashflow property unless you are confident you can maintain it in the long run. 

These are my thoughts after investing 5+ yrs in GTA. Some might agree, some might not. But everyone makes money in uptrend market. Real test is when things turn around, will you survive? Hope this helps the OP.

Correct, that's why most investors buy in personal name instead. Property is considered an Asset that will make you passive income instead of Inventory. Benefits for Corp. are:

1. Limited Liability (you can however get most of this when you buy in personal name)

2. You can pay dividends to shareholders (your family) so that distributes income and keeps taxes low. Ofcourse this assumes that the shareholders contributed to the operations

Also, you will need a good mortgage broker who deals with lenders who lend to Inc. vs Personal. (there are few lenders who do this, however you'd still be personally guaranteeing the loan)

Those who are incorporated are usually advised by their tax lawyer/ accountants since everyone's situation is different. Hope this helps.

PS: I am not a tax accountant. This is from my experience after meeting 3 different accountants and lawyers for similar query.

good Question - what's the growth you've seen and what kind of cash flow?

Steward, DM me if you still haven't received an answer to this. 
PS: you will get different answers from different accountants.