All Forum Posts by: Michael Paquete

@Luc Boiron I agree.  I think the key is to get a property below market value.  If not your just updating the unit for the tenants and you will not see any return

That's fantastic @Nick Thompson. I'm meeting with a broker tomorrow to see what options are available for utilizing the BRRR strategy. I'll let you guys know how it goes.

Matt my understanding is you fill the property with a tenant, take out a short term mortgage and then appraise it.   My plan is to re-appraise the property 1 year later and use the equity to do it all again.  

Hello fellow investors,

For my next investment property I would like to try the BRRR technique to try and help generate equity and allow me to build my investment portfolio. I have a good network of people from brokers, lawyers, property managers and contractors that I feel comfortable enough to give it a try.

Has anyone else in Ontario used this technique to try and "force" appreciation?  This is really the only I can think of generating money to purchase more properties.

@Jane Fung.  Have you considered investing outside of Toronto?  Within 1 hour of your area you could easily invest in something that would cashflow.

You can cashflow on properties in the Kitchener/Waterloo/Cambridge are.  Prices for a 3 bedroom 2 bath property will range from anywhere$200,000 - $300,000 and rents will range anywhere from $1,100 to $1,600 depending on location and property condition.  Growth in this area is looking very good in the upcoming years with LRT construction currently going on in KWC.