All Forum Posts by: Michael Alexander Roman Augustus

Good evening all,

Does anyone know of good meet ups in Quebec and Ontario.  Willing to travel.

Thank you kindly

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Joliet.

Purchase price: $300,000
Cash invested: $60,000

Duplex bought for STR strategy. Grosses over $8600 a month and has been consistent for 3 years.
Property is in Mont-Tremblant QC - platform does not let us place a property in Canada

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

Travelling for 4 years staying in Airbnb's intrigued us in the business model. This was our first investment upon returning from our travels.

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

Research on different listing sites.

How did you finance this deal?

Seller financed 95% for 18 months, then with 20% additional, gave us a 3 year mortgage. Now have a regular mortgage.

How did you add value to the deal?

Renovations and STR model

What was the outcome?

$8600 a month + in revenue.

Lessons learned? Challenges?

Tech in the house for STR is not worth the hassle.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did the deal directly.