All Forum Posts by: Kevin Labonte

Lately I've been using CMHC to get minimum funding on my investments. Sometime, you can also negociate a cash return for renovation to actually finance your cashdown if the cashflow is good. I'm a buy and hold investor also. For the activity of the forum, investors in Quebec actually talk english for most of them, I never actually spoke to an investor that doesn't. This site is not well known from most people, maybe because a lot of fiscality rules doesn't apply to us as we are in Canada AND in Quebec (the place where people hate you if you make money). I currently have 49 doors spreaded in 9 buildings from duplexes to 12plex. 43 of them bought last year with a total investment of about 80k, maybe less I lost the count as I still wait for some "Transfer taxes"

I'm in Quebec city, I would say that for cashflow you can be anywhere at 50$/door would be normal. These days in montreal the market is getting crazy with overbid on small plex, I would go on an approach of building with 6+ units, easier to finance too with our reality. If you have a lot of equity you even can finance at 15% down for 6plex

Never heard of them so far but I'm in Quebec city

I think it's more a point of which big companies like Ubisoft, Banks, Petrolia, or anything as big as this are close to your rental unit.

Good day everyone!

Which program do you use to manage everything in your rentals?

I was looking forward to buildium but it's not adaptative to any Canadian financial reports, or any Relevé 4 the province might start asking us again. I want to make one program choice and stick to it as I grow.

Any of you using SideManager? It has a few features I like for the maintenance and many users able to connect but it seems to be missing stuff like Payment management or getting linked to bank accounts.

Thanks for your answers!

I joined your site maybe 3 weeks ago and I've been thinking that I should introduce myself. I'm currently active military full time, 2 kids (2years old and a "new" baby within next 2 weeks). As everyone I have a busy schedule but always try to take a few minutes during the day to read articles on BP since I joined (it becomes addictive!)

I started Real Estate in 2007 when I purchased my 1st house requiring renovations for 80k in a suburb of Quebec City with absolutely no construction background. Flip while living in it, I learned along the way, 40k$ later. I went on 2 missions overseas which added more delays, to sell for 190k in 2011.

Moved in an almost turn key house and bought a 3plex in 2011 at the same time. Did a buy-and-hold, learned about being landlord with it's problems. Refinanced to buy a 4plex in april 2015. Currently in renovations, and will add an extra appartment in the basement looking forward to build it for handicapped person (There is currently a garage door that I can convert to entrance).

Goal is to leave military within 3 years and become a Home Inspector. I'll try to get as close as I can of 50 units with a 100$ in cashflow, within 10 years from now and live off my rental. I hope I'll be able to kick my investments a little faster soon as we don't have any deals under 100k like you guys seems to get easily in US from what I can read, and we don't have Exchange 1031 so if you don't hold on your properties, you pay taxes on the resale everytime (except if you sell the place your living in and you were holding it for a year or more) which slow me down a little bit.

Hope to talk with some of you soon!