All Forum Posts by: Mike Oliveira

Wow this sounds amazing. How did you find the deal and care to share numbers on purchase price 

One of  the best way to get started house hacking with a bRrrr strategy on a multi especially if you can add unit/units. 

First. Find an agent that represents you and not the seller. They have the sellers best interest. Second I’m assuming you would like to fix and flip the property ? If so your numbers will be pretty tight after Reno’s and other fees/commissions. That’s at the asking price. Also all depends on what type or returns your play with. 

@Terry Nguyen Not 100 percent sure. I would speak to a broker 

@Terry Nguyen yes they will include that as part of the refi.

look into student rentals and you will most likely exceed the one percent "rule of thumb". 

Hello terry, based on my experience with the Brrrr. they will take your income into account but your correct about cap rates. they are used to determine the value on 5+ units. They will definitely look at comparable duplexes in the area when determining the value of yours. As well as how much you spent in upgrades on the property.

@Victor Sagar what kind of deals are you getting in Hamilton 

How to win friends and influence people 

It’s going to be tough to find single family properties that meet the 1% rule in the bigger cities in Southern Ontario. I would suggest looking into multi family properties that need some work or student rentals. Currently doing both and exceeding the one percent rule.