All Forum Posts by: Kyle Leeyaw

Thank you both for your comments. I will start to investigate other markets. I am looking for cash flow at CAPs as 7 percent, or higher. In that way I can raise money from investors and use money lenders for deals. I live in Toronto, the CAP rates are very low.

@Joe S.

@Roy N.undefined 

@Stephen Fryerundefined

Hi BP,

I am a starting Canadian multifamily investor living in Ontario Canada. My question is for other Canadian investors, do you recommend starting in Canada or the US? I would really appreciate any guidance.

Advantages of Ontario Canada

-Local

-My buying power is higher, not affected by exchange rate

Advantages of US

-Lower Cost per door

-Higher Cap rates

-No rent control

Hi BP, 

My name is Kyle. I am looking to network with Canadian Multifamily Investors who have purchased properties in the US. Specifically investors that have purchased apartment building in the US. My goal is to purchase a 15-24 Unit C class property. I live in Toronto Canada, and would like some insight on how you went about acquiring your team and mitigating risk. Also if you have any references you can share that would be really helpful.

Resources:

- Lawyers who help Canadians invest in the US, with Multifamily experience 

- Accountants

- Lenders

Thanks BP,

Kyle

Hi Biggerpockets,

I am looking for some guidence in selecting an area to focus on for finding investment properties. I live in Ontario Canada, but I'm sure techniques can be applied anywhere. There are a lot blogs telling you where you should invest. But how do people come to those decisions. 

Are there any good books on market analysis I should read?

What factors should I look at? Any tips to find properties or areas overlooked?

Best,

Kyle

Thanks for the strategy Scott. I see  the value in it. It exposes you to the different levels of development (adding value to propety) while gradually building your risk tolerance. I agree with you as well Tim. A 9-5 may likely hurt the success of any large projects. But the starting ones Scott mentioned would probably be manageable. As long as its near your area.

Thanks for the reply Tim. To add more clearity, I would like to build homes. Mid raises to start.

The inital startegy I am thinking about is buying a home on a large lot already zoned for intensification. Then renting that home while I work with an engineer/architect for the designs. Then pre sell the units so I can have the down payment for the construction loan. I think i understand the process from a theory stand point.

But I know developmemt is a very involved process so will be difficult to execute with my 9-5. 

So should I first get a home and airbnb for cash flows and build equity. That should be enough for me to leave my job and focus on executing development. But I get moxed messages some recommend going straight for the goal and don't waste time with the airbnb.

I know I will need to borrow to finance any of these ideas. But I wondering which is the right play to focus on. Its very easy to get lost in all the noise for real estate startegies. So I am wondering how most developers got started. I'm 25 so I am in no rush as long I'm taking steps towards the goal of construction residential mid raises to start off.

Thanks for your input Amanda! I am going to go to at least 2 meetups per month and soak up as much as I can.

Awesome Joe! Thanks for sharing. Really appreciated.

Hi Bigger Pockets,

My name is Kyle. I am going to be a real estate developer and am having trouble getting started. I would really appreciate insight from anyone who has had success in real estate development.

Some specific questions I have are:

How did you get started?

What were your first couple deals?

What would you do if you had to start again today with 20k, 50k and 100k?

Thanks Bigger Pockets,

Kyle

Hi Bigger Pockets,

My name is Kyle. I am going to be a real estate developer and am having trouble getting started. I would really appreciate insight from anyone who has had success in real estate development.

Some specific questions I have are:

How did you get started?

What were your first couple deals?

What would you do if you had to start again today with 20k, 50k and 100k?

Thanks Bigger Pockets,

Kyle