All Forum Posts by: Lisa Lavie

I've received ALL of my rents & on time! Very thankful that all is well with my tenants! 

Such a difficult time for many

Hi Zaharia, 

Congrats!!! How awesome. 19 years old and already interested in investing. Good for you! I’m also an investor. Do you have a realtor to help you with your investing needs? If not I’d love to help you and guide you in your purchase. 

Let me know if that would be something you’d be interested in. 

Have a fantastic day

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $410,000

My thought process was always sacrifice a little, purchase more properties and eventually buy your dream house, well that all went out the window when I found this house. It's a gorgeous 3 story property along the waterfront with 30,000 square feet of land. I purchased this house & moved out of my first purchase which is now rented out.
Best decision ever. I adore my house!

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

I went to see the house & simply fell in love. The woman selling was just a few years older than me. This was her dream home but her husband and her split up and this house was just way to big for her family and for her to keep up with the never ending bills. We had heart to heart conversations woman to woman about life & love, it was a very different experience than what I was used to. No realtors were involved, it was a for sale by owner

How did you find this deal and how did you negotiate it?

I offered 400K on the property but same day someone else someone verbally said they'd make an offer at 425K. I already had a pre-approval from the bank and she knew that I was also an investor with many properties and that chances are the bank would accept me, so we settled at 410K

What was the outcome?

We signed the papers in her solarium overlooking the waterfront & she cried because she was letting go of what was once her dream. :( I started crying with her & my cousin who was with me as well.
My heart really feels for these type of situations. I told her she could come back and visit her house whenever she'd like.
It's always sad seeing someone have to give up something that was once their everything.

We've since become friends and communicate on a regular basis! :)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $178,000

This house came on the market just 3 days ago. I went to see it & it has so much potential.
I immediately put in an offer & that same day 3 more offers came in.

This house was an interesting purchase because all of the offers were a lot higher than mine, even by $15,000 more but they still chose my offer above the others

How did you find this deal and how did you negotiate it?

The woman's husband is unfortunately very ill in the hospital & they need to sell their property as quickly as possible.
I inspected the house myself & saw that everything was fine. I didn't put a conditional upon inspection clause.
I also told the woman that we could sign the deed of sale asap & that she could take her time to move out & rent from me in the meantime, she was very happy she had that option. She's 86 years old & didn't know where she'd move so I was making it easier for her.

What was the outcome?

4 other offers came in that day 195K, 190K, 185K and my offer 178K & they ended up going with my offer. I'm still blown away by that but I'm very happy.

I just feel for the woman who's lived there for 50 years & raised her family there. It's not easy to move on & to know that your husband isn't doing so well. I wish I could make it even easier for her. My heart always feels for the owner in these type of situations. :(

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $178,000

This house came on the market just 3 days ago. I went to see it & it has so much potential.
I immediately put in an offer & that same day 3 more offers came in.

This house was an interested purchase because all of the offers were a lot higher than mine, even by $15,000 more but they still chose my offer above the others.

How did you find this deal and how did you negotiate it?

The woman's husband is unfortunately very very ill in the hospital & they're trying to sell their house as quickly as possible.
I inspected the house myself for the major stuff & it all seemed fine so I didn't made this property conditional upon inspection which worked in my favour.
I also mentioned to the woman that we could sign the deed of sale ASAP but that she could take as long as she wants to move & rent from me in the meantime. 4 offers: 195K, 190K, 185K & they accepted mine at 178K.

How did you add value to the deal?

This property is in pretty good condition as is, just 2K in work (Adding laminate flooring in the basement and replacing old vanity in downstairs bathroom & this house is rent ready.

I make close to 500$ cashflow per month on this property

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $38,000

This house came on the market at 190K, there were 3 offers on the table same day. I ended up getting the property for 180K which is the more than I would typically want to pay for a buy and hold but I just fell in love with this house. It had so much potential, cathedral ceilings, in a wonderful neighbourhood right by the local high school! I'm so happy with this purchase.

How did you find this deal and how did you negotiate it?

(Always know why the seller is selling)

The house came up on MLS & I went to see it within the hour. The woman living in the home had lived there for 40 years, her husband had sadly passed a couple years prior & the house was too big for her to take care of.

The owner had 3 visits that morning and all had put offers in. I made mention that if she'd like, she could sell to me now but rent from me until she figures out where to move. She liked the thought of that & chose my offer :)

How did you add value to the deal?

She moved out 2 months later and I went in and gutted the entire kitchen & bathroom. I added a 2nd bathroom and a 4th bedroom downstairs. In all it cost about 38K in renovations. The house is gorgeous and I rent it out for a nice cashflow

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $410,000

My thought process was always sacrifice a little, purchase more properties and eventually buy your dream house, well that all went out the window when I found this house. It's a gorgeous 3 story property along the waterfront with 30,000 square feet of land. I purchased this house & moved out of my first purchase which is now rented out.
Best decision ever. I adore my house!

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

I was interested in eventually purchasing a house on the waterfront so that I could have a dock and gazebo out there & live 'the good life' but I wanted to wait a while longer so that I could purchase more buy and holds and my expenses would be offset by all of the cashflow I was making, I just didn't want to wait anymore and made the move :)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000
Cash invested: $30,000

This house came on the market right next door to my previous purchase.
Thought it would be nice to have houses side by side so I decided to jump on it. :)

I cash flow over 400$ monthly. I purchase on the south shore of Montreal. 

You could find good returns in a lot of suburbs surrounding MTL. Are you a buy & hold investor?