All Forum Posts by: Nathan Boulet

Hey Janek, 

I was just in Ottawa last month finishing my real estate license and I went to a few of the local investors group meetings and I thought they were great.  Tons of investors there to network with!

Depends on where your willing to invest. Our last SFH in Timmins was purchased for $34,000 and will cost $10,000 to repair. This 4bed/2bath will be rented for $1400-1500 + utilities per month. I would take the time to look into the town in your area with the highest returns and then narrow your search from there.

@Dea Chu:  We've done almost all of the repairs ourselves.  There's definately distressed property in all sorts of neighborhoods however we didn't invest in any A neighberhoods as it would have been much less profitable for us on the rental side of things.  As for Sudbury,  I didn't invest there and haven't lived there for a few years so I don't feel as though I could give you some good advice about that market

@Thomas Lorini: There's plenty of deals in town here :)

@Justin H.:  I never heard that term BFRR before so I'm assuming that means Buy, Fix, Rent, Refinance.  If that's the case, that's exactly what we do and intend on planning to do.  If there's anything in perticular you'd like to know more about don't be shy to ask me any questions or drop me a line when your in town!

@Dea Chu: I actually used to live in Sudbury.  Yes, the properties are a bit higher in Sudbury.  Keep in mind that I buy very distressed properties as well.  I am a real estate agent myself.  Keep looking there's always a deal to be found :)

Which towns in Ontario are you guys investing in?

I've lived here in Timmins, On for a little over 3 years and I have to say that I'm very surprised how few investors there are in town.  Here's a quick overview of what I've been able to do with just me, my dad and my brother.  Keep in mind that we had almost no money starting off and I had 2 jobs. 

1)Duplex purchased for 65,000 in August 2012, refinanced for $140,000 in Dec.2014, spent $10,000 in materials, rental income: $1050 + $565 

2)SFH purchased for $36,000, spent two weeks doing repairs, rents for $925, now worth 55-60k

3) Fourplex, bought for $100,000 in Dec.2013, refinanced in Jan.2015 for $189,000, spent under 12k so far 

4) SFH: bought for 31,000, appraised for 79,000 4-5 months after work was completed. Rents for 975

5)SFH: bought for 55k, spent 13k, appraised for 140k, personally live in this house

We have 3 more projects on the go right now but I would seriously look into this market if you are looking to invest in Ontario.  

High Rents & Low Property Costs = Happy Investors w/ Great Returns!

Yes Jerry, thats exactly what I'd like to do

That is a possibility however the interest rate is 10% and I would no longer have positive cash flow

It was an actual appraisal but I do believe that it was higher than what it should have been as there were many deferred maintenance issues that may have gone unnoticed such as a roof in very poor condition (covered in snow so there appraiser probably didn't notice how bad it was).

No conventionnal bank wants to give me a HELOC as they don't hold the mortgage. A private mortgage lender holds the mortgage so I think I'll just have to wait 4 and 1/2 more years and refinance or sell.

I bought a fourplex in Dec.2013 for 100,000 and put 20,000$ down. I obtained a private mortgage @ 10% for 80,000$. My building later appraissed for 183,000$. I have a 5yr term with the private lender that really just started. Is there any way to access the equity in this building or am I dreaming in color?