All Forum Posts by: Lisa Lavie

@Chad U. Yes... It cashflows after all expenses... Mortgages, Taxes & Insurance. :D 

Thank you @Steve James & @Logan Dickson  :D

Thanks @Tristan Cortez :)

Hey Fellow BP members,

I'm so excited! I just purchased my 3rd SFH in Montreal, Canada 3 weeks ago. I purchased the property for 165K, however it's worth more like 200K in it's current condition. It came with tenants & the cashflow is decent. The best part about this deal is that I actually didn't have to come out of pocket at all. The bank took a lien on my 2nd property for 20% which means that I didn't have to take out mortgage insurance through CMHC & I didn't have to come out of pocket. I also worked out a deal with my real estate broker & the bank broker whereas they would split the costs for my notary.

I'm so happy with how this deal turned out. I have a beautiful house that is already cash flowing & It didn't hurt my back account at all. :) I'm looking forward to my next buy & hold. Hopefully I'll be just as lucky the next time. It's awesome trying to figure out creative ways to save money. On to the next one... Hopefully Jan/Feb 2016!~

Lisa xoxox

Allo Kevin... That's a very good question. I think getting into multi family is a great thing however I'd say to get your feet wet on your first purchase, maybe start with 1 single family and see how everything goes. I'm from Montreal also & let me say that you're English is great.. so no worries :).... I started in real estate 3 years ago. I bought my first property & I didn't think that I would ever want to get into real estate full time & all of a sudden it hit me, lol. Last year I bought my first investment property, bought it for 160K & the evaluation on it was 230K, it came with tenants already residing in it & I've not had any issues at all. The cash flow is not out of this world great. It's about 300$ a month however I know that I made a nice profit just buy buying into this property. On Tuesday I'll be closing on my 3rd property, yes another great deal. I got it for 165k, the property is worth 230k after just a few renovations. No renovation work is pressing right now & it comes with tenants. The best part about it is that I got it bank financed and 0% down.  It will cash flow about 300$ a month. Do you already have a pre-approval from a bank? Good luck in finding a great property, sometimes they're hard to come by but they're definitely out there. Keep me posted on how everything goes. :)

I'm French Canadian also. From Chateauguay. It's always nice to see other Montrealers and Quebecers on here :)

The only downside is that the currency exchange is not what it use to be, besides that... I think investing in the Florida market is a great thing. Of course it has to be a GREAT deal in order for it to be worth your time. 

Where in FL are you planning on on investing in? The next property I purchase will be in Miami. I plan on a flip a little later this year. It will be my first flip, so I'm excited about it. I've not invested in the states as of yet only in Montreal! Excited time up ahead. 

Good luck with your search. Please report back with how things are going if you do decide to go ahead and invest in FL!

Lisa

That's awesome! Congrats... Keep up the great work :)....Continued success... On to the next one! 

Would be nice to have a Montreal meet up with a bunch of like minded individuals at some point to network and share ideas, stories, etc! 

It's always nice to see Montrealers on this site.  I agree Marc, Real estate is definitely the way to go to building wealth. 

I currently have 2 properties in Montreal & this coming week I'm putting in an offer for a 3rd property to buy & hold. I haven't done any flipping yet. My plan is to keep these properties for a period of time and then flip them. I always make sure that any property that I purchase is way under the municipal evaluation. I usually look into foreclosures. This site has tons of useful information. I also love their podcasts :)... You should check it out

What type of network are you looking to create?

Thanks sooo much for all of your help. I appreciate it! :) I'm going to dive in and do more research on those specific areas. Really helps me narrow down my search

:)

Much Appreciated,

Lisa