All Forum Posts by: Nathan Boulet

The rehab will cost about 25k and I'll be looking for a private mortgage after the rehab. I cannot get a conventional loan anymore but I believe I can get 80% LTV. I believe it will rent for about 1100-1200 + utilities after the work is done. Will pay for the rehab from the proceeds from another project.

Hi Marco,

I would like more information about this loan. Sounds very interesting for Canadians!

Hello Everyone,

I recently bought a SFH in my town of Timmins, Ontario without using my own money. The house is a 3brm, 2 bath SFH with unfinished basement. I got it for 55,000 and I believe the ARV is about 120-130k. I got short term loans @ 10% from private investors to buy the house and I plan on fixing up the house and getting a private mortgage on it then paying back my investo

Good stuff, what sort of deals are you working on?

Just Curious Tabatha, did you end up finding a nice property somewhere yet?

Ming Lim : How do you find managing a logging house? There were a few in my area but I didn't look into them too far as I was doing all the property management myself in those days. One of my concerns, is that I would always have very low quality tenants and very highturnover and vacancy rates. Could you maybe just let me know how this has been treating you?

No, I'm living in Timmins still but the prices have climbed quite a bit. I think it may be time to look into investing in a new market for me

The prices were really low to buy property and there was very little available rental units when I moved here so it's been just great

It's been pretty unreal. Bought a SFH that cash flows about 450$/month. Just finished rehabbing another single family home that will cash flow about 350-400$ a month. The fourplex still needs a lot of work and is pretty much break even at this point due to a number of things : a long waiting eviction, below market rents and some deferred maintenance as I have just acquired it in Dec. 2013

Ahh thats good I used to live in Sudbury when I went to school. I've invested in 3 SFH's, a duplex and a fourplex now in the two years I've been here.