All Forum Posts by: Nicholas Smith

@Michael Gorley

It depends on what you’re seeking. Do you desire something more passive or are you willing to do the day to day that is involved with wholesaling? I consider wholesaling a job just like flipping so it really comes down to how hands on you want to be and what you’re WHY is! Good luck to you Michael and keep me updated with what you end up doing!

Cheers

@H Faryabi

Welcome to BP! I am also a newbie investor from London who is excited to jump in as soon as this situation has settled down a bit. Let me know what strategy you end up choosing!

Cheers

@Nile Yacob

Welcome to BP Nile! I am also a newbie investor living in London and am looking forward to securing my first deal as well! Best of luck!

Cheers

@Tony Robinson

Congrats on the successful Brrrr Tony! I’m going to refer back to your post in the future which will be very valuable for my first Brrrr! Cheers! :)

@Craig Sloan

Really great tips in there Craig thank you! And great to hear you’re from my area! I was thinking of looking in St Thomas as well as I’m sure you know the prices in London are extremely high and it will be quite tough to meet the 1% rule at this time but I’m hoping the agent I have recently connected with (that claims she specializes in off market multi’s and works with investors) will be able to help me find something to help get my feet wet and hopefully be cash flow positive even a bit off the get go. I will definitely take into consideration the tips you have laid out and ensure my level of intention in terms of screening and tenant behaviour is made clear shortly after closing on my first deal!

Thanks so much!

Nick Smith

PS; (Where are you investing now if not in Ontario, if may ask?)

@Joe P.

Thank you Joe! I will do my best to obtain any and all information I possibly can while going through the process with my future agent and I will bring up the vacant upon sale request and see if that is a possibility for me!

Thanks again

Nick Smith

Hello fellow BP members!

I have been looking at small multi’s in my area to get a feel for the pricing in my market and see what’s available. I will be going for an owner occupied scenario for my first property (house hack) and have noticed that in most cases I will more than likely need to inherit tenants as the units are filled 90% of the time. Does anybody have some tips on how to ensure you’re not about to get into a horror story situation? Anybody have some horror stories pertaining to this they would like to share? I know if it’s not working out you can ask they move on once their lease is up but I’m just looking to learn a thing or two on this topic if possible!

Hope everyone’s having a safe and productive quarantine!

@Scott Trench

I agree with you big time on that Scott!

@Account Closed

Thanks for the wise insight Sue! I agree with you 100% about taking action and thinking things through down to the very fine details. I will deploy everything I have into this strategy and update you with how it pans out in the near future. Thanks again!

@Account Closed

My apologies! I’m very excited about getting started and seemed to have accidentally skipped over the fact that you were a tenant there already. Mind you that doesn’t mean I’m not taking the advice you’re giving me seriously, this is some of the best advice I’ve received thus far. So with me not already renting, what do you suggest I do to find an owner that may be too cheap to pay someone full wage and benefits? Because I do feel this strategy would be incredibly beneficial to my future as a Landlord!