All Forum Posts by: Michael Gorley

I'm an investor from Ottawa and I would love to connect with all of you investors looking at Sherbrooke, we are targeting medium to larger-sized value add multi-units. I would love to get to know you!

@Frank Wong

Thanks for the reply!

Your advice is really helpful. Currently still torn between doing wholesaling and getting my licence. (Somewhere in the middle may work out) However, that being said I really appreciate everyone's advice. It does help a lot for someone new to all of this!
Thanks!

@Martin Bastida

Great to know! Have you found that having your licence gets you more deals or has it impacted your business at all?

Did you end up pursuing your Realtor's licence once the laws changed?

Thanks!

@Joseph Cacciapaglia 

Changing the laws is definitely something I haven't thought about but its a really important factor to consider. I hadn't really thought much about being able to cater to all sorts of buyers and sellers but being able to merge being a Realtor with wholesaling could be a killer combination. 

Again, being an agent and wholesaler isn't my goal in real estate, more of a means to an end of obtaining a constant flow of capital and bringing the two together seems like a good way to find great deals, sell them and profit allow me to also pick up the best deals when they come into my pipeline. 

Thanks again!                                                                                                                                                                  

I appreciate your post

Hey! 

Thanks for the reply, I think that maybe doing both, ie getting my licence and pursuing deals in all forms might be a really stellar option for me as being mentioned in the other posts. I'm curious how you are finding the wholesaling scene in London, ON. How is it and is everything mentioned on BP apply to the Canadian scene in your experience? 

Thanks!

Hey BP!

a bit of background to frame my question.

I live in Ottawa Canada (expensive market) and my father is a Realtor on a great team in the city.

I am looking to do BRRRR deals on small multifamily properties and am looking at investing outside of the city to start, because the lower priced area offers much better cashflow to starting out.

My question is : to raise the capital required for purchasing and renovating my first BRRRR and to kick start my momentum into real estate, should I get my licence and become a realtor like my father or dedicate my time to wholesaling and creating a wholesaling business. I know that deciding to start is more important than deciding where to start, however I'm curious about what the BP community thinks. Thanks!

@Elliott Milek Hey there, I am pretty much brand new to REI, would you be able to send those my way too!

@Vincent Martineau-Cammalleri After basically analyzing every small multifamily deal on the mls in Ottawa over the past 8ish months, I think that getting a duplex would be a great idea. Ottawa being an expensive market doesn't cater all that well to crazy cashflow, but If the units were large with multiple bedrooms and near enough to a post secondary institution, like in Little Italy, for ex. You could rent out one unit for full market price, live in the other one and rent out each additional bed for almost 800/month. That would likely make most deals cash flow nicely and doesn't tie up all your earnings to only one unit!

Being from Ottawa myself, I'm super curious what meetup that is! 

I'm basically brand new to real estate and am looking to start networking, learn more about real estate and attend some local meetups! (after covid of course)

I'm really interested in starting a wholesaling business. However if anyone has had any luck with this, let me know!