All Forum Posts by: Michael Kissi

Not sure what the rules are but I think it would be considerate to listen to her concerns and come to an agreement. Maybe do a video tour instead of trudging people in every couple of days to look at the property? This shouldn't be an issue if you're selling to another investor but I assume it may be impact your ability to command market rate for it. 

In my very small experience, there are seldom if any deals to be found in auctions. But it shouldn't really matter as long as you do your due diligence with any property and have a hard stop on the max you should pay for it. 

With that said my first property was bought at auction. I did everything wrong and still didn't get burned. I got extremely lucky. 

 I'm a novice here. A friend has 4 properties in the world famous Belair Edison. He loves it cos it cash flows like crazy and requires not too much to start up. Of course it's street by street but would wouldn't love to hit the mythical 2% rule almost everytime. 

Hi everyone. Montreal-raised but live in USA. Interested in investing back home. Specifically on the south shore. Is there a sub-forum for Montreal or is this it? I'd like to network with fellow investors, contractors etc. Any facebook groups i could join? 

Thanks everyone.

Congrats. Some pics?

Thanks @Stephen Kehoe and @Jared McCullough. I did close on the property and pretty much followed Stephen's advice. It came with a tenant so after closing, i made her sign a new lease with me. Also didnt know about the zillow rental pricer. My property isn't showing up but it looks like a good alternative to Rentometer. 

I'm not in the process of trying to cash out refinance. I did not anticipate how difficult it would be. 

 Now that's a deal I can't wait to hear more about. More details please. 

Hi @Ethan Kramer. A commercial loan will mostly depend on the cash flow of a property. 1.5 million @75% LTV would require almost 400k down and PMI around 10k a month. (Extremely rough numbers here). That leaves 5k for your other expenses. That may not be enough to get a suitable Debt Service Coverage ratio.

"Why did you wait so long to start?"

I would love to. I'm still going through the refinancing process so I'd like to complete that before I make a post.