All Forum Posts by: Mike Oliveira

@Kenneth Noronha I am by no means a big time investor yet but I feel what your going through. I was in electrical engineering for a year and as it went it on I realized more and more it was not what I wanted. I couldn't focus on it because I was not interested in it, and I would continue reading on real estate. I then dropped out and decided to look for a high paying job anywhere I could,while working at my other job to save the funds for investing. I am still working 2 jobs and saving for more properties and will leave my workplace when I have more income coming in from more properties to do investing full time. I feel that if your passion is real estate like it is mine then don't let anything get in your way from doing it. I do also agree on the suggestions for switching into a more business like program like economics or whatever it is. Switch into a more relatable program or drop out and start working to save money invest. Even with my 2 jobs my free time is spent on anything to do with real estate- also don't forget the amount of money you will spend on your program now when you really don't want to pursue that career.

hey guys I'm also an investor in hamilton looking for good deals they are hard to come by. I always tell everyone that I am looking for properties, I believe it isa great way to find deals although I haven't come across any this way yet. I am going to start posting ads up online and around the city as well, anyways  I am up for chatting with some locals as well.

@Andrew Postellthese scenarios are very common in the GTA(greater Toronto area) prices have gone up 20pecent since last year. the houses are very expensive and the rents are not going up enough to have good cash flowing properties.  

@Robin Valadares have you looked into student rentals if your looking for better cash flow or buy a house that needs work at a low cost renovate and then rent it out and your cash flow will be better. You can still find good cash flow but it is becoming difficult in the GTA. Look at smaller cities out a bit further like Brantford and London or St. Catherines and Niagara and you will find much better cash flowing properties. Just some suggestions, as for the scenarios you have provided I think scenario 4 is pretty good.

love the idea of charging over market rent and then giving a "discount". everybody loves to feel like there getting a discount

there are lots of potential flips in the hamilton area but there is just so much competition on the properties. finding one off market is a great idea like others above have said but it does take more work 

welcome to bp - look into the london and windsor markets - you can get a duplex in windsor for 100k 

With 20 percent down your mortgage will be about 116k which with 2.8percent mortgage rate will be probably be around 540 a month 

I've been trying to get into the flip game in my city Hamilton, just this week I made offer on 3 properties all asking 300k. with an ARV of 400-415 but these proprieties had multiple bids and end up selling for 340-350. After 30k in renos and carrying/closing costs your profits are pretty much gone.

I agree completely, as I mentioned in the in initial post I don't base any of my analysis on appreciation, if I do it is a modest 3 percent. I also do not speculate  and agree with the rental market strengthening if the new rules do affect the buying market. Anyways I invest in smaller markets right now so shouldn't be worried.

@Matt Geerts very true makes sense. I like the way you put it especially the last sentence haha