All Forum Posts by: Mun Sihota

Anything at all? 

Anyone have any suggestions?

I was wondering if I could get some advice from the community on how to approach this situation. I'm currently renting a half duplex, adjacent to us is a daycare, and directly behind the daycare is a retired gentlemen living in a 3Br/2ba home from the mid 50's. My wife, two toddlers and I are wanting to buy sometime towards the end of this year, we love the area and would like to purchase his home as we love the neighborhood. I was hoping to get some advice on how I could approach him as currently his home isn't listed and we aren't in an immediate rush to buy, would the right approach be to build some rapport first? Have my son throw a frisbee on his yard and knock on his door to ask if we could retrieve it to start conversation? A different approach He's got a good size yard our kids would love as we are outgrowing our half duplex with a tiny yard, but just not sure how to get the ball rolling here. Any help would be greatly appreciated, thanks a lot.

Which states are best to invest in? Basically looking for strong ROI and landlord friendly states here.

Greetings,

I come from the north, British Columbia specifically. I was hoping to get opinions on what I should Invest $45k (US currency) on in terms of a SF home or MF? I'm hoping to pick up a 2-4 unit building. I currently have a duplex in British Columbia, the property was purchased for 900k (not cash flowing, this is typical in the area, I'm sure most people here are familiar with Vancouver it is a massive appreciation market). I had read about and watched Brandon Turner talk about the BRRRR strategy. I had a few questions I was hoping to get answered.

1) Would this particular strategy be do-able for a Canadian Investor? 

2) How much down payment does a foreigner like myself require? Can I do 20%? Or is it 30%?

3) I have read on these forums banks want to loan more than 100k and not anything less, is it easy to get financed as long as I am borrowing more than 100k?

Thanks all for your help, appreciate it.

Hi all,

New to these forums, I'm just starting out in real estate investing. I own a single property at the moment in Canada. I reside just outside Vancouver, B.C. I'm looking to build passive income,  not interested in flipping etc. I'm hoping to get into the American market. These are the best forums I've come across in the internet for RE investing. Great job all!

Hello all,

I'm new to these forums, I have followed them occasionally for years whenever I had time but never actively posted. Now is the time to seriously sit down and do some research as I have a new job which gives me a lot of downtime to study real estate and contribute to this wonderful community. I yearn everyones experience on these forums, there are a lot of very successful investors I would like to learn from. I have some questions I was hoping you all could help with. But before I ask those questions I'd like to give a little background of myself and my situation. I am currently living with my wife at her parents place rent free. We have few expenses, and are able to save about $2700 a month. We recently bought a Duplex in the city we live in (within British Columbia) and have quite a large mortgage on the property ($700,000). The property is not cash flowing it merely breaks even every month, that is the situation up here, it is in a terrific location here which will appreciate in value over time (the average single family home prices here are around 750k). I have no credit card debt or any other debt (ie car payments, student loans etc). That's the rundown of our situation. Our goal is to build passive Income through SFH's first and then move onto MFH's. We don't have any desire to flip or make a quick buck. As for those questions I mentioned earlier I was hoping I could get some advice on, here they are.

1) What is the typical down payment a Canadian needs to pay for a US investment property (SFH)? 20%? 30%? 100%?

2) If the Canadian banks such as RBC see that I have a 700k mortgage already will they even let me borrow one? I would not be able to finance the property without taking out a mortgage. (My credit rating is 802)

3) Is a private lender a good option if the banks refuse me? Or are the interest rates just too unreasonable? 

4) Is there a way that a Canadian could qualify for the 1031 exchange?

Thanks all for your help, looking forward to hearing from all different types of people.