All Forum Posts by: Kory Hodgson

thanks for the replies. I see you are both in the US, anyone have any Canada specific info?

Gary,

Thanks, that is good to know. However, I am mostly curious to help me determine which properties will cashflow for me, say it was 8 units? I guess I am curious what is the typical difference between residential and commercial rates?

Thanks,

Kory

What is a good commercial mortgage rate in Ontario, Canada. Can I expect to get similar to residential rates if I am purchasing a 6-plex?  

I am just looking for guidelines, I have good credit and assume the property has good numbers.  

How much of a change would you expect if I had a VTB as well?

As a Realtor and investor who lives in Guelph I would warn that cashflow can be tough in Guelph. Hamilton is good, as well KW is good. You don't need to invest where you live for the same reasons you might not buy stock of a company just because it is local. 

JC,

I'm a realtor and investor in Ontario and own a couple rentals in Hamilton myself. I am currently working with clients looking for an investment property in Hamilton as well. 

I would be interested in hearing more details if you don't mind sharing. Feel free to email me at [removed email address], I would be interested in address and where you got the $150k and $250k numbers.

Cheers,

Kory 

Kyle,

Your parents won't like this answer, but if you don't have a career in mind University will be a big waste of money. I went to UoG and many of my friends ended up with lots of debt and unrelated jobs. If you are serious about working in real estate, look at starting your with a property management company or getting your real estate license.

Whichever major you decide, ensure there are career prospects and try to get into coop so that your can gain some experience before graduation.

Cheers,

Kory

Peter,

Hamilton still has some good deals although as is typical of real estate in a boom market, it was always better X years ago. 

I have been showing investment properties in Hamilton to clients of mine and own a couple myself. 

Kory

Michael,

Will you be living in this building? If not you will need to put 20% down as CMHC doesn't allow 5% down on rentals or commercial (5 or more units). I suggest working with a mortgage broker who owns rental properties them self. 

Cheers,

Kory

I live in Guelph, ON but also invest in Hamilton, Ontario

Hey guys,

I'm in Guelph and currently have 3 SFRs. 1 in Guelph, 2 in Hamilton I also recently got my real estate license to get more insight into the industry. Has there been any Ontario based meet-ups? It would be awesome to discuss successes and lessons learned. 

Cheers,

Kory