All Forum Posts by: Kevin Burke

Hey there,

I live in Muskoka-about 2 hours north of Toronto.

I own a waterfront property here, and investment property in London, ON.

I'm looking at purchasing my 3rd property.

I'm looking at demographics, census statistics, and basically calculating if the numbers work. I've got 50K to go to work, but I'm personally not seeing any 'stellar' deals.

I'm wondering if there are any contractors/real estate investors/builders anywhere near me that would like to sit down over a coffee, and talk about some possible opportunities.

Thanks for taking a look at my post,

Kevin Burke

Hey there, I was looking to get the opinions from a few people about a 16 unit apartment building in Nothern Ontario, about 7 hours past Toronto. 10% cap rate, numbers seem to work. 93K/yr from rent roll, 45K/yr expenses. My only issue is, it's a population of 1200 people, with a 8.5% unemployment rate, and about 50KM east and west from any major city. Old paper mill closed down around 2012, with half of the then population (2400) leaving. The government is offering incentives for people to move to Northern Ontario with 90% off vacant lots, 100% property tax forgiveness for 2 years. They're making the push to get people up there. Not sure what to think. Any thoughts would be fabulous guys! I own 2 houses, and my rental has a great amount of equity. Not entirely sure what I should be doing next.

@Katie Stewart Thank you Katie! Best of luck with your endeavors.

@Jack Butala thank you for the warm welcome. I appreciate your response!

Hey there, my names Kevin Burke. I just created this account on Bigger Pockets to meet like minded people, and learn from all areas of this business, from the very people who have expertise in rehab/flipping & multi family properties.

I'm 27 years old, and I live about an hour north of Toronto, in Washago, ON. I own a rental property in Ingersoll, ON and I'm looking to expand my portfolio. 

Say hi, drop me a message, and lets connect! Who knows what opportunity may arise. 

Investment Info:

Single-family residence other investment in Ingersoll.

Purchase price: $150,000
Cash invested: $75,000

I have one positive cash flow rental property. Looking at another, sooner rather than later. I'd like to get into the multi family homes side of things next.
I'm just new here to Bigger Pockets, so I'm hoping to network, and meet like minded people with the same goals at the end of the day.

What made you interested in investing in this type of deal?

After acquiring this property a number of years ago, I crunched the numbers, knew the local rental market, and rented it out for a positive cash flow investment.

How did you finance this deal?

Through a top 5 bank. Put down the required money *minimum 5% for a first time home buyer*

How did you add value to the deal?

Maintained the property. In a highly desired/ central area where the population continues to grow every year, the house itself was bound to appreciate in value.

What was the outcome?

Outcome has been good. We have had a good investment, with virtually no problems in 6 years.