All Forum Posts by: Matt Geerts

Attention Ontario Investors!! This is a FULL TWO DAY EVENT!

The Ontario Real Estate Conference (OREC 2018) is a two-day event being held at the London Convention Centre May 26th & May 27th. With an expected attendance of over 500, OREC is among the largest real estate investing conferences in Ontario and the largest in South Western Ontario. OREC is approaching the idea of a real estate conference differently...

OREC’s unique offering of speakers have no hidden agenda. These are REAL PEOPLE who are taking REAL ACTION and are willing to share their hard-earned knowledge and strategies with you. They are still real estate investors who are actively buying and managing their own projects. There’s no need to rush to the back of the room for a limited time offer, no need to act fast to sign up for the next tier of coaching. It’s time to start taking REAL ACTION!

• Real life investors who are actively investing in your market will be presenting. Experts from Windsor, Sarnia, London, Owen Sound, Woodstock, Kitchener-Waterloo-Cambridge.
• Learn from real estate investor’s like Michael Rosehart who became a self-made millionaire and retired at 25
• Whether you are brand new to real estate, a seasoned investor, realtor or industry professional, you will find multiple sessions specifically directed at you and your experience level.
• Never waste a moment with multiple talks, breakout sessions and facilitated networking opportunities throughout the two days
• Learn how to invest with partners via joint ventures with experts like Matt Piche and other no/low money down strategies
• $1,000’s of Prize Giveaways and unique social media competitions.
• Always Be Networking! A Conference that recognizes the importance of networking, and will focus on facilitating more opportunities for networking
• Ask and interact with the presenters. FAQ Panels on local topics and tactics.

Every investor in London, Windsor and Sarnia should be here! All of you GTA folks from Toronto, Hamilton, Brampton, Scarborough, Pickering and Oshawa should make the drive. If I were in Barrie or Kingston or even as far as Ottawa or Montreal I'd surely make the drive!

@Oren K.

Interesting. Having never purchased anything over 250k (I bought a six plex for 150k, my highest price ever) I didn't know that things scaled up like that.  Thanks!

...My most recent residential acquisition in an area of London that will be seeing gentrification in the next ten years is currently sitting at an 11-cap.

The ROI and CoC are infinite because it was a BRRR with more money in my pocket after refinance than before I started.

@Hai Loc I agree that it is silly to combine two cities that are 190km apart. I would not pigeonhole London as being a "college town", though obviously UWO and Fanshawe are a major presence. There's plenty of other industry going on here, especially in medical and technology, and still to a solid degree manufacturing. These are vague statements, I understand.

6-cap is fair for on-market, performing commercial buildings in London. Some locations may be sub-5, occasionally 7 but that usually indicates distress, I think. Real active investors can do a lot better than that, and the surrounding areas are ripe with better opportunity.

The key, in my opinion, to not losing money is to buy right.

You should be able to call a realtor to list your property the day you buy it and come out break-even or better despite legal fees, utility hookups, holding costs and realtor commissions.

This is a hard requirement of any purchase I make now.

@Oren K. land transfer tax in Ontario is only 1% minus $250. Toronto has a premium that I have no experience with, though I've heard it is simply double.

@Hai Loc You said that there is no cashflow in major Canadian cities, but I think that depends on your definition of major. London is nearly 400k people and there's plenty of cashflow to be had here.

@Account Closed I know we spoke via PM, but now that I see the details... yep, that deal stinks. Cash on Cash does not include paydown, but ROI does. However, if you're talking ROI with mortgage paydown, then you need to actually put an end-date on it and include the cost of sale as an expense... though we might then be talking about IRR rather than ROI.

@Walter Edington welcome to the forums. You don't have any personal info in your profile - it really helps around here.

Where are you located? Getting into a first home as an investment is far more attainable than most people think. If you can save 10k/yr, you can buy a duplex with 5% down very easily depending on where you live. You could do as Andrew suggested above. You don't even need a duplex for that - just buy a house and get roommates (law is in your favor with roommates anyway).

Step one (after you've decided WHY you want to do it and you've decided that you DO want to do it) is to learn to analyze deals. It can look complicated, but you're best to find a simple formula just to start with. 

Rent - taxes - insurance - utilities - maintenance.

That's a good place to start. Do one and post the results here. It will probably be terrible, but that's 99% of them.

We've been running over two years of meet-ups every month at Tiger Jacks!

Come out to have a casual chat with a group of like-minded investors. Discover new ways of investing and share your story. This group will fire you up and get you ready for your next (or first) purchase faster than you could otherwise imagine. The diverse group brings a lot of skill, experience and professional contacts to the table, and sharing atmosphere means everyone benefits from it!

Be sure to join the Facebook group! We're a bit light on content right now, but we'll be growing quickly!

https://www.facebook.com/groups/BiggerPocketsLondo...

@Eddie Lindor see the Facebook group in the first post. From there I'm sure you'll find a couple of related groups in the area hosted by others in the community. 

Eddie, we keep it pretty casual. Glad you can make it out to join us!